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Contributor
hapagrrl
Posts: 86
Registered: ‎02-20-2011
0

No CLI for a *secured* card from Orchard?

I just called Orchard to find out, basically, where to send my check to increase my limit on the secured card I have with them. I was told that they are not granting any CLIs at this time, "due to a business decision."  HUH?? That seems non-sensical to me, as this is a *secured* card. Does anyone have any suggestions or ideas? Or, at least some clarification as to how this can be?

 

(BTW - I've had this card since Aug 09 and have diligently paid if off every month before the statement is released; my current CL is $200. Admittedly, I didn't know about utilization % until I joined MyFICO; I clearly need to bring that number down -- which is why I wanted the CL to begin with!)

 

Thanks!

 

Staring FAKO: 490 (NEVER again!!!!)

Current (as of 3/2011): EX(FAKO): 538; TU: 635; EQ: 637

 

 


Starting Score: 490 (FAKO)
2011 Scores: TU 635, EQ 637, EX/FAKO 538

2012 score:EQ 675

2014 (mortgage broker pull): TU 670, EQ 669, EX 674




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Epic Contributor
Creditaddict
Posts: 22,116
Registered: ‎10-23-2007
0

Re: No CLI for a *secured* card from Orchard?

 


hapagrrl wrote:

I just called Orchard to find out, basically, where to send my check to increase my limit on the secured card I have with them. I was told that they are not granting any CLIs at this time, "due to a business decision."  HUH?? That seems non-sensical to me, as this is a *secured* card. Does anyone have any suggestions or ideas? Or, at least some clarification as to how this can be?

 

(BTW - I've had this card since Aug 09 and have diligently paid if off every month before the statement is released; my current CL is $200. Admittedly, I didn't know about utilization % until I joined MyFICO; I clearly need to bring that number down -- which is why I wanted the CL to begin with!)

 

Thanks!

 

Staring FAKO: 490 (NEVER again!!!!)

Current (as of 3/2011): EX(FAKO): 538; TU: 635; EQ: 637

 

 


Sounds like the rep either didn't realize you had a secured card and wanted to add more money to your secured deposit to increase your CL or she misunderstood that you wanted to add money not get a partially unsecured CLI.  Call back, make sure they understand.

 

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:
Valued Contributor
thrasher865
Posts: 1,157
Registered: ‎05-21-2008
0

Re: No CLI for a *secured* card from Orchard?

You're right, that would be an interesting "business decision."

 

 

"Hey Orchard, will you hold onto some more of my money and charge me interest to borrow my own money?"

 

"No, too risky!"

 

I agree, call back.  That doesn't sound right.


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


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Valued Contributor
Datx
Posts: 1,051
Registered: ‎05-20-2010
0

Re: No CLI for a *secured* card from Orchard?

[ Edited ]

I had the same question for Orchard Bank last year and sent a secured email to them from my online account. Here is the email they replied back with:

 

 

Thank you for your email inquiry dated 07/24/10. In order for an increase in
your credit limit to occur, it will be necessary to send a minimum deposit of
$100.00. The check must be in increments of $100.00 not exceeding a total
credit limit of $15,000.00 and mailed to the following address:

HSBC Bank USA
P.O. Box 9
Buffalo, NY 14240

Please remember to write CLI and include your savings Account number on the
memo line of your check. Once your check has cleared, your credit limit will
be increased accordingly. Please allow 16 days from the date of receipt for
personal checks to be processed. Cashier's checks will be processed within 24
to 48 hours upon receipt.

TU: 603 – EQ: 569 – EX: N/A – May 2010

Contributor
hapagrrl
Posts: 86
Registered: ‎02-20-2011
0

Re: No CLI for a *secured* card from Orchard?

Thank you, Everyone, for all your helpful and funny responses - and helping me feel less like an idiot (Yeah, Orchard -- as if I don't feel bad enough with my ca-ca credit scores :smileywink:).

 

Oh, and I did repeat to them several times that this was for a secured card -- which she should've been able to see, anyway, if she'd pulled up my account...

 

Anyway, rather than complain about their outsourced call center, I'm going to email them through my online account, then, as you suggested, MyCreditStinks. It's funny - I thought calling would get me better customer service :smileysad:


Starting Score: 490 (FAKO)
2011 Scores: TU 635, EQ 637, EX/FAKO 538

2012 score:EQ 675

2014 (mortgage broker pull): TU 670, EQ 669, EX 674




Take the FICO Fitness Challenge
Valued Contributor
Datx
Posts: 1,051
Registered: ‎05-20-2010
0

Re: No CLI for a *secured* card from Orchard?


hapagrrl wrote:

 

Anyway, rather than complain about their outsourced call center, I'm going to email them through my online account, then, as you suggested, MyCreditStinks. It's funny - I thought calling would get me better customer service :smileysad:


I agree that you should be able to get good CS through the phone too. I just went the email route because its just easier for me.

TU: 603 – EQ: 569 – EX: N/A – May 2010


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