Providian Offers More Than Prepay Credit Cards
While there are many prepay credit cards available in today’s world, the Providian prepay card can be a stepping stone to a higher level of credit card eligibility since all transactions and bill payments made with this card are recorded by the major credit reporting agencies which when coupled with the direct deposit funding system offered provides a means for credit issuers to evaluate one’s potential as an unsecured credit cardholder.
In the unsecured credit card system, a person is given a line of credit with a ceiling based upon their income and other factors one of which is their history as documented by the three major credit reporting agencies.The Providian Visa Platinum card is mainly designed for American usage. The amount of credit or credit line can be as high as $15,000.
A statement is issued to the cardholder each month giving the amount of credit available and the amount of payment owed. By paying even the minimum amount owed each month, a person’s credit history becomes in good standing and thereby allows the lender to increase the limit from time to time based on the individually-tailored credit limit. Along with the statement which is issued each month, there are discount coupons and other retail offers for such things as dining and online and off-line purchases using the Providian card.
Another program offered by Providian Credit Cards is called ‘Real Rewards’ which allows one to earn incentive money for purchases made using the card. Points are also given for such things as on-time payment. These points may be used toward retail purchases or may be accumulated and used to increase ones line of credit. A ‘Cash Back’ program is also offered with this card whereby one receives one dollar credit for each purchase dollar when the card is used.
Once a person has established a good relationship with Providian, it is possible to transfer balances from other credit cards to the Providian Visa Platinum card with no annual percentage fee and no liability for unauthorized purchases or charges to the holder’s line of credit.
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