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New Member
Posts: 5
Registered: ‎04-06-2013
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ORCHARD CLOSED MY ACCOUNT BECAUSE OF AQUISITION BY CAP1

Yesterday I went to a store and my card gets declined. I have another card on me thankfully, but I call them and the Customer Service told me: "Did you not receive the letter? Capital One aquired Orchard and made a BUSINESS DECISION to close your account!!!"  I said, no, I didn't receive anything in the mail from them. 

I had NO negatives and have never been late on my payment -- I have 3 credit cards overall and one of them completely paid off this month - and yet, they just decided to close me as part of a "BUSINESS DECISION"?

 

I am very upset - first of all this will probably reflect negatively on my credit - an account suddenly closed. And second there's nothing I can do about it :smileysad:

My question is, is this LEGAL for them to just go ahead and close it - not to honor their agreement?

 

Can I fight back somehow? PLEASE HELP. CAPITAL ONE PLEASE CONTACT ME -- YOU HAVE CLOSED MY ACCOUNT JUST BECAUSE IT BELONGED TO THE COMPANY YOU AQUIRED!!! WHAT KIND OF A "BUSINESS DECISION" IS THAT???? 

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Valued Contributor
Posts: 2,407
Registered: ‎11-29-2012
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Re: ORCHARD CLOSED MY ACCOUNT BECAUSE OF AQUISITION BY CAP1

Yes, its legal for them to close your account at any time.


Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
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 625 for now– New goal 675
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Regular Contributor
Posts: 153
Registered: ‎03-09-2013
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Re: ORCHARD CLOSED MY ACCOUNT BECAUSE OF AQUISITION BY CAP1

[ Edited ]

I have (used to have before last week shredding spree) one and I used to receive these mails saying 'how my life will change' now that Capital one has acquired Orchand bank. I closed it last week. When the CSR asked me what could possibly be the reason, I replied back saying I don't understand what 'capital one' actually means. Is it because some bank had already taken the word Capital  so they used a computer generated Capital1 for their bank name? 

The CSR giggled!

But I think you should a send a letter to their executive office(mentioning the embarassment you have had at the store). I am sure they will open the card for you(maybe even give you a hefty credit line just to appease you a bit). Thats what I would do.



"Its your AAoA, Sir. It seems, Sir, that it is so short that i dont think it would hurt for it to get a little shorter"
Valued Contributor
Posts: 1,507
Registered: ‎07-24-2011
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Re: ORCHARD CLOSED MY ACCOUNT BECAUSE OF AQUISITION BY CAP1

[ Edited ]

Yes it is completely legal for any CC company to close your account at any time they wish.  They granteth and they taketh away.  Sorry and I know you're bummed about it but that was the business decision they made.  You can try to write to them to see if you can get someone to help but I don't think they reopen accounts.....don't quote me on that.

 

Your last sentence at the bottom of your post, I hope you also know that CAP1 is not going to contact you from here right?

 

How long did you have the orchard card and did you have a balance on it when they closed it?  

 

You also said that you have 3 cards and you just paid one of them off.  Well could it be that when they did an AR that your utiliziation was sky high and your latest payment hasn't updated to the CRA's yet?


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
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Re: ORCHARD CLOSED MY ACCOUNT BECAUSE OF AQUISITION BY CAP1

That's awful! I have an Orchard Bank card as well and I used it on Monday. I plan to pay it off and sock drawer it since I have gotten better cards. I haven't received a letter or anything and just paid my bill so I'm assuming it is still open.

I did try for an increase through Capital One for my Orchard card back in Jan 2012 and they told me it wasn't eligible for increases. But they said I could always apply for a Capital One card. I declined.

Then in July I started seeing the Jimmy Fallon commercials and got curious about it. It was the first time I saw a credit card commercial for cash back that aligned to my credit profile as it wasn't as good as it is today. I decided to apply for the average cash back version and was instantly approved. Since then I have also obtained a Cap1 Best Buy card. So I don't know if I was spared because I decided to expand my credit profile with them or not. I know the transition is still in progress so I guess anything could happen.

How is the rest of your credit profile? What other trade lines do you have? Did you stop using the card for over 6 months before you decided to use it?
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
New Member
Posts: 5
Registered: ‎04-06-2013
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Re: ORCHARD CLOSED MY ACCOUNT BECAUSE OF AQUISITION BY CAP1

[ Edited ]

Thank you Solstice for your kind response. 
Can you please explain to me how do I contact Capital One executives? Where will I find their information? 

 

 

But now they just suddenly close my account for NO REASON just to say: we bought the company, and we will now destroy everything associated with it. It's just so SAD! SO PATHETIC! Some would say "Hostile" takeover, since the accounts are not honored and are being simply disposed of, and abruptly shut off without any regard to the loyal customers - that could become YOUR customers, but I guess Capital One doesn't count us, prior Orchard clients, as their "capital" (no pun intended)? We are now suddenly a "LIABILITY" to be simply disposed of, and be simply shut off and flushed down the capital drain!!! I Cannot Express how angry and upset I am - I have done NOTHING to wrong them, and yet I am now a victim of hostile "SHUT DOWN" of the Orchard company. And my credit is to suffer because of THEM? No fault of my own other than choosing a "LOSER" company to be dominated by more financially sound CAPITAL ONE magnate?  What kind of world are we living in? 

 

SO NOT FAIR! I am surprised, that Capital One would throw such a LOW PUNCH and be so ethically LOW as to completely lose a valued customer for a "BUSINESS DECISION" purposes.(That's the wording they used with me). "A Business is a Buseness - and Business must 'grow'. Yet there was no good business in shutting me down - if anything, it was a STUPID and un-sound business decision- only a POLITICAL decition = EJECTION of everything they didn't like, that they would have to god-forbid to bother re-writing their contracts and welcoming new clients to their big client baset! I guess they showed ME, who is boss and who does not belong to the big Capital. I had a choice years ago to choose a Capital One or Orchard, and I chosen a loser -- so now I get revenge. 

Edit" how rediculous is that?????

 

Established Contributor
Posts: 803
Registered: ‎05-16-2012
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Re: ORCHARD CLOSED MY ACCOUNT BECAUSE OF AQUISITION BY CAP1

I am honestly surprised that we have not seen any other reports like this. I have been waiting for a swarm of account closures from this transition. I am sorry it happen to you. What was your limit anyway and how long have you had this card? What other cards to you have? Any baddies?

100% Ficos: EX 773 , TU 772, EQ 771 Inquiries last 2 years/1 year/6 months: EX-0/0/0, TU-0/0/0, EQ-2/0/0~ last credit card app 6/24/13- New car loan 3/8/2014
Discover IT $11,000~Kohls $1000~Amex BCE $2000~ Walmart Discover $7500~NFCU Signature CashRewards $19,400~ Chase Freedom MC $6000~ Chase Amazon Visa $1900~ Cap 1/HSBC MC $3500~ Amazon Store $7000~ Fingerhut $1050
Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
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Re: ORCHARD CLOSED MY ACCOUNT BECAUSE OF AQUISITION BY CAP1

I am not so sure what you said is true. I'm not trying to add fuel to the fire but there are many Orchard Bank customers on here that had just Orchard Bank or that plus some other non Capital One cards when Capital One acquired Orchard Bank and their accounts are still open. Which is why I asked some questions about your profile in particular to see if I could spot any red flags that could have been behind the reason of them closing your account.

You can try also contacting them on Twitter or Facebook as they do respond to complaints there and they ask you to send them an email or PM (twitter) with some information so they can contact you.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Valued Contributor
Posts: 1,507
Registered: ‎07-24-2011
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Re: ORCHARD CLOSED MY ACCOUNT BECAUSE OF AQUISITION BY CAP1

DiamondStar, have you checked your credit lately?  Could something have popped up recently to spook them?  Do you have any baddies? 


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
New Member
Posts: 5
Registered: ‎04-06-2013
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Re: ORCHARD CLOSED MY ACCOUNT BECAUSE OF AQUISITION BY CAP1

Thank you, Moving Forward, for your kind response!. I used the Orchard credit card at least once a month, usually for gas purchases - last time was last month, at the gas station. I was a loyal customer and my credit score is about 700 (don't quote me about that, last time I checked was in December). What other trade ins do I have? None, I'm afraid. I am not very credit-card educated - I had no idea they offered rewards or cash backs, but now that you told me about it, I will check it out. I only had this Orchard card as my ONLY credit card for 3 years or so. My other cards are Macys and Firestone - which I only use when in their stores. So now I will need to find and research a new company to have a credit card with. I would love a rewarding card, just like you mention, I wish I had seen that commercial - but I usually hit that Fast Forward button as soon as the commercials some on, and missed it.

 

Anyways, l am rambling here, but I really am concerned for my credit now, and god knows what will happen now that they actually "closed" my account, the whole notion of being just "closed" is like a punishment for the sins I have not committed. I was just an innocent victim of a Hostile Aquisition -- just giving out a fair warning for fellow citizens, to be Aware that this is HAPPENING RIGHT NOW, and be  prepared for similar incidents/treaments. I have read a lot of folks were hoping for good treatment, for being included, for keeping their rates ect...No such luck! The rude awakening is here. Perhaps you should give them a call and find out what's in store for you with them before this happens to YOU. 

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