Providian (NYSE:PVN)
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Providian Launches Two New Credit Card Programs Designed to Empower Customers
Providian Real Rewards(TM) Program Rewards Cardmembers for Spending, Carrying a
Balance, and Making Payments on Time
SAN FRANCISCO, Feb. 17 /PRNewswire-FirstCall/ -- As part of its commitment to
recognize and reward customers for their loyalty and for managing their accounts
responsibly, Providian Financial today launched two new credit card programs:
Providian Real Rewards and Providian Real Information. As part of the new
offering, the Company also unveiled an innovative series of online financial
tools and resources to educate and empower mainstream American consumers about
building and maintaining good credit.
(Photo: http://www.newscom.com/cgi-bin/prnh/20040217/LATU022 )
"After listening to mainstream Americans across the country, we found some major
gaps between how consumers say they want to be treated by their credit card
company, and how they are actually being treated," said Warren Wilcox,
Providian's Vice Chairman of Planning and Marketing. "Based on this input,
we've made a committed effort to reinvent our company to better meet people's
needs -- and the two programs we're introducing today are good examples of that
commitment."
Providian Real Rewards
With the Providian Real Rewards program, cardmembers can earn points faster,
because they'll be rewarded for more of the ways that they're already using
their card: making purchases (one point per $1 spent), maintaining a balance (10
points for every $100 in revolving balances every billing cycle), and making
payments on time (500 points for on-time payments in six consecutive billing
cycles).
With Real Rewards, customers can redeem points for rewards at a wide variety of
restaurants and retailers, or for cash back in the form of statement credits.
And unlike other rewards programs, Providian Real Rewards customers can use
points to manage their account, including lowering their purchase APR, or to get
a late or overlimit fee credit.
With redemption levels ranging from 1,000 to 50,000 points, Real Rewards enables
participating Providian customers the opportunity to quickly earn rewards that
are the most meaningful to them.
Examples of Real Reward Levels and Offerings:
1,000 points- $10 Barnes & Noble Gift Card or $10 Mrs. Field's(R)
Gift Certificate
3,000 points - $30 Chili's(R) Gift Card or a Late or Over-limit Fee
Credit
5,000 points - $40 Statement Credit or $50 Off Any Airline Ticket
10,000 points - $100 Macy's Gift Card or three (3) Percentage Points
Off the Purchase APR for 12 consecutive billing cycles
Providian Real Information
With the Providian Real Information program, customers will have free online
access to their FICO credit score and a supporting credit information summary.
In addition to free FICO scores, Providian customers can use a "score simulator"
to see how certain behaviors, such as paying late or on time and payingmore
than the minimum due, can affect their credit score. They can also view a
snapshot of where and when they are using their credit card, and get information
and tips on managing their credit. This groundbreaking service was created by
Providian working in partnership with a national credit reporting agency
(TransUnion(R)) and the creator of FICO credit scores (Fair Isaac(R)).
Providian Real Information is a key element of the Providian Real Benefits and
Real Rewards programs. With Providian Real Benefits, cardholders also enjoy
money-saving coupons and discounts at top national retailers that are relevant
to our customer's lives, such as Borders(R), Payless Shoe Source(R), Bed Bath &
Beyond(R), and Blockbuster(R), included automatically in monthly billing
statements, and a commitment to regularly review every cardholder's account to
determine if they qualify for a credit line increase and grant it automatically
if they do.
How to Get More Information About These New Programs
For more information on Providian Real Rewards and/or Real Information,
consumers can watch their mailbox, call 1-800-775-8382, or visit
http://www.providian.com/.
About Providian
San Francisco-based Providian Financial Corp. (http://www.providian.com/) is a
leading provider of credit cards to mainstream American consumers throughout the
United States. By combining experience, analysis and technology, Providian
seeks to build long-lasting relationships with its customers by providing
products and services thatmeet their evolving financial needs.
For further information, please contact Alan Elias, +1-415-278-4189, , or Beth
Haiken, +1-415-278-4889, , both of Providian Financial Corp.; or Emily Killmer,
+1-213-623-4200, ext. 734, , for Providian Financial Corp.
http://www.newscom.com/cgi-bin/prnh/20040217/LATU022
DATASOURCE: Providian Financial Corp.
CONTACT: Alan Elias, +1-415-278-4189, , or Beth
Haiken, +1-415-278-4889, , both of Providian
Financial Corp.; or Emily Killmer, +1-213-623-4200, ext. 734,
, for Providian Financial Corp.
Web site: http://www.providian.com/