If you just came out of bankruptcy, the Providian credit card was there for you. If you had your car repossessed, were behind on your rent, but wanted a credit card, Providian credit cards were able to make it happen for you. Sadly, in many cases the high Providian credit card payment contributed to further delinquencies experienced by consumers who were considered to be part and parcel of the sub prime lending group, yet in spite of the buzz that slowly made its way across the Internet, for a while there when it came to sub prime credit cards, Providian was the company of choice.

It is astounding how well the company targeted its market. A Providian credit card application seemed to arrive in the mail before your bankruptcy discharge paperwork would, and to apply for a Providian credit card was ridiculously easy. As a matter of fact, a Providian financial credit card could be had without a need for secured funds being put on account with Providian. Credit card customers also loved the fact that the company raised the credit limits for their Providian credit card products to frequently.

Thus it appeared to the consumer that they had a little bit more leeway before they actually reached their credit limit, yet in reality they had already gone past the limit originally set. Furthermore, the Providian credit card also quickly became known for its skyrocketing interest rates. Annual percentage rates of 29.99 percent – even for accounts in good standing – were the norm rather than the exception.

If you are wondering “how do I apply for a Providian credit card,” the short answer is that you will not be able to. The Providian credit card is now administrated by Washington Mutual which bout the Providian credit card company a few years ago. You are still able to make your Providian credit card payment online using the old log in information, and your Providian credit card debt has not gone away. Additionally, the credit tools are still available at your Providian credit card online account access center. While the Providian national bank credit card is not considered defunct, it is known as having been absorbed into the Washington Mutual system. For more information you will be able to find Providian platinum credit card review pieces scattered throughout the ‘Net. The fact that with a focus on the sub prime market also come financial difficulties for a company led to its ultimate financial downfall, while the fact that the sub prime market was woefully underserved led to its rise.