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We all know the endless lore about Orchard Bank and their nearly non-existent CLIs and outrageous AFs. Though their interest rate (for my card, anyway...16.99%) isn't bad for credit rebuilders compared to others of their ilk, I find myself frustrated by their stiffness in not handing out at least modest CLIs.
So into the HSBC backdoor I crept ("Night Prowler" by AC/DC playing in the background...imagine it...):
I held for what seemed like an eternity. When an HSBC analyst picked up, she asked for my income and assured me there would be no hard pull to see about an auto CLI (I have found this to be the case before, so knew it was legit). NOTHING.
I explained that I was a loyal customer with an excellent account history...no lates...sometimes leaving a balance to pay them some interest (I thought that was a nice suck-up touch). Analyst was very nice and transferred me to Orchard Bank Customer Service.
I proceeded to tell CS rep the same thing...good customer...OK with interest, but AF WAY too large at $74 and CL WAY too low at $300...CS transfers me to Customer Relations Manager (WHO? That's what I said to myself, anyway...).
CRM proceeds to read me the history of my account...great history...improved credit score from 574 to 657 (What the fetch? How could they know that? She must have been eavesdropping when I mentioned it to the analyst. Gremlins in the walls of my FICO, I swear)...nearing my year anniversary.
I ask for a modest reward for being such a loyal customer...
CRM proceeds to tell me my AF will be reduced to $19 for the remainder of my stay with Orchard Bank...and that my CL has been doubled t0 $600!!!!!!!!!!!
Holy smokes...feel like I gave birth...to an accountant with Kardashian hips...after that battle with OB, but it was fruitful...hopefully a harbinger of things to come for others who try!
Hey thats awesome! Nice work. The CLI will further help your score by lowering your utl. If I didn't have an orchard bank CO from '05 I would have used them as a rebuilder too.
Congrats!! I tried your process with Cap1, knowing that it would probably be fruitless. In the end, I still have recieved no CLI from Cap1 in 3.5 years. Spoke to 3 supervisors and was told the same thing..."A customer initiated CLI is not currently available for your account"
@CreditCrusader wrote:....
CRM proceeds to read me the history of my account...great history...improved credit score from 574 to 657 (What the fetch? How could they know that? She must have been eavesdropping when I mentioned it to the analyst. Gremlins in the walls of my FICO, I swear)...nearing my year anniversary.
...
They soft me every single month on EQ like clockwork. That might be a possibility why they don't HP.
I may have to give them a chance before canning them. I will not pay them another AF. I have outgrown $300 for $79, they are on the chopping block with BOA's $500/$79.
Nice verbal phone skills..Congrats !
@CreditCrusader wrote:We all know the endless lore about Orchard Bank and their nearly non-existent CLIs and outrageous AFs. Though their interest rate (for my card, anyway...16.99%) isn't bad for credit rebuilders compared to others of their ilk, I find myself frustrated by their stiffness in not handing out at least modest CLIs.
So into the HSBC backdoor I crept ("Night Prowler" by AC/DC playing in the background...imagine it...):
I held for what seemed like an eternity. When an HSBC analyst picked up, she asked for my income and assured me there would be no hard pull to see about an auto CLI (I have found this to be the case before, so knew it was legit). NOTHING.
I explained that I was a loyal customer with an excellent account history...no lates...sometimes leaving a balance to pay them some interest (I thought that was a nice suck-up touch). Analyst was very nice and transferred me to Orchard Bank Customer Service.
I proceeded to tell CS rep the same thing...good customer...OK with interest, but AF WAY too large at $74 and CL WAY too low at $300...CS transfers me to Customer Relations Manager (WHO? That's what I said to myself, anyway...).
CRM proceeds to read me the history of my account...great history...improved credit score from 574 to 657 (What the fetch? How could they know that? She must have been eavesdropping when I mentioned it to the analyst. Gremlins in the walls of my FICO, I swear)...nearing my year anniversary.
I ask for a modest reward for being such a loyal customer...
CRM proceeds to tell me my AF will be reduced to $19 for the remainder of my stay with Orchard Bank...and that my CL has been doubled t0 $600!!!!!!!!!!!
Holy smokes...feel like I gave birth...to an accountant with Kardashian hips...after that battle with OB, but it was fruitful...hopefully a harbinger of things to come for others who try!
First off Congratulations on your persistence and success! Second from reviewing your scores I plugged 650 into http://www.financeglobe.com/ScoreMatch/ to see what cards would be recommended and based on your score you may have a good chance of being approved for the Amex Delta Sky Miles, Capital One No Hassle Rewards card and handful of others including a few store cards. If you decide to do an app spree I would suggest to apply for the cards you want in minutes of each other and if you get a decline or 7-10 day message I would call the new app/backdoor numbers to recon and just explain your situation that you are rebuilding your credit and want Amex/Capital One to give you a chance. If you don't get approved for the Delta Sky Miles and recon doesn't work just ask them to approve you for a $500 Zync Charge Card.
@Anonymous wrote:First off Congratulations on your persistence and success! Second from reviewing your scores I plugged 650 into http://www.financeglobe.com/ScoreMatch/ to see what cards would be recommended and based on your score you may have a good chance of being approved for the Amex Delta Sky Miles, Capital One No Hassle Rewards card and handful of others including a few store cards. If you decide to do an app spree I would suggest to apply for the cards you want in minutes of each other and if you get a decline or 7-10 day message I would call the new app/backdoor numbers to recon and just explain your situation that you are rebuilding your credit and want Amex/Capital One to give you a chance. If you don't get approved for the Delta Sky Miles and recon doesn't work just ask them to approve you for a $500 Zync Charge Card.
AMEX is a bust for me...have a BK7 from 2009, so they won't touch me...not even for the autopay option.
I have thought of converting my Cap1 to a No-Hassle Rewards, but I have a bit of a balance I need to pay down before I could make that happen (or do I? could use some clarification if anyone can).
The one I want more than anything is Discover. I shop locally a lot in the suburbs outside Indy...and man, do they LOVE Discover at those shops! Plus, the benefits of the More and Motiva cards seem pretty good. Just think I'd be wise to wait until I'm 6 months outside my last inquiry, allow accounts to age, and pay util down to 1-9% before I take that leap.
what number did you call?
@terren2000 wrote:what number did you call?
I called the backdoor analyst number for HSBC and was subsequently transferred to Orchard Bank Customer Service...after which I was transferred to the Customer Relations Manager.