Question
I was wondering if anyone had any comments about the Providian Premium Points program.
1 point for each $1 of Net New Purchases at the end of each billing cycle.
Redemption rewards include:
20,000 Points for a Round-Trip airline ticket in the 48 contiguous United States (up to $500 Value). Although if you read the terms it says that for the 20,000 point level a $500 discount travel reward can be applied toward the cost of any airline ticket and not just to a destination within the 48 states.
15,000 Points gives you $150 off any airline ticket, which might be a better deal if the ticket is that cheap anyway.
There is no limit to the number of points you can earn.
Only catch is not to keep a balance -- 23.99%
Any thoughts? Any ideas on how to maximize the points if it is worth it?
Thanks!
Adam
Answer
Just a word of caution about Providian. They have been sued various times for fraudulent practices and will charge you a fee for just about everything or change your APR without real warning.
I'd go with one of the better established mileage cards first before getting a card from Providian.
Just MHO
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I Love New York -- Viva España
Answer
I am not a bid fan of credit card programs that place dollar limits on reward travel. I had an MBNA Travel Rewards card for about three years and had quite a bit of luck when redeeming points for hotel stays, but the $400 dollar limit on air travel sometimes placed limits on my options.