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Orchard Bank proves completely useless

Frequent Contributor

Orchard Bank proves completely useless

I am still waiting for my Discover to report my 2K CL (card just opened 12/12) so I can close out my Orchard (converted to CapOne) account. They are @ $300 CL for 11 mos. and yet to provide a valid reason to justify their AF, ridiculous APR and low CL (that will NOT budge on that CL in the last 7 months)

 

My AaoA won't get dinged, but my util will prior to my Discover reporting. I hate this card. Just because they "helped" rebuild, I still wish I wouldn't have used them, nothing even close to redeeming that AF!!!

 

/end rant

Start: Nov'12 EQ 699/EX 685/TU 696 / Current: April''14 EQ 715/EX 709/TU 709 * Goal 750+


Message 1 of 27
26 REPLIES
Contributor

Re: Orchard Bank proves completely useless

Their primary customer is not one that looks at annual fees versus rewards and other perks. Their primary customer is one that can't get credit anywhere else, and so they have such high fees and APRs and low CL's because their target audience is bad with credit.



Cards: CitiForward for Students (2K, opened 8/2009), Discover it (2K, opened 7/2010), AMEX BCE (1k, opened 12/2010), Capital One Quicksilver (4.5k, opened 11/2011), Chase Freedom (1.5k, opened 8/2014)

AMEX Platinum (NPSL, AC arrangement, added 12/2011), Citi AAdvantage AMEX (9k, AU, backdated to 9/2008)

Scores: TU 667, EQ 651

In the Garden since 8/8.
Message 2 of 27
Established Member

Re: Orchard Bank proves completely useless

 @sdoonan- in other words, there are used to people who are just grateful to have been approved for a card  period, such a shame.

 

From your siggy you certainly don't look like you need them anymoreSmiley Happy

 

Anyway talking about Discover does anyone know how quickly they report or do you have to wait for the first statement?

Starting Score: FAKOS EQ 627 TU 687 EX 627 CK 713 (12/12)
Current Scores: FICOs EQ 698 TU 708 (7/13)
Goal Scores : 720+ across the board..........no apps till Jan 2014

In wallet:CAP1 (Closed)/BOA CASH (5k)/DISCOVER (5.5k)/CHASE FREEDOM (3k)/BARCLAYS (3.3k)/AMEX BCE(1k)
Future wallet: Citi,
Message 3 of 27
Frequent Contributor

Re: Orchard Bank proves completely useless

I'm not gonna lie, I was all excited to have an unsecured card in my credit re-building line up but at this point, absolutely NOTHING warrants keeping this card.

Start: Nov'12 EQ 699/EX 685/TU 696 / Current: April''14 EQ 715/EX 709/TU 709 * Goal 750+


Message 4 of 27
Mega Contributor

Re: Orchard Bank proves completely useless

Discover normally takes at least 1-2 statements to report.



EQ FICO 548 3/3/16
Message 5 of 27
Senior Contributor

Re: Orchard Bank proves completely useless

As mentioned above, there's no point in being angry...it's a waste of energy.

 

It served it's purpose...close it with a smile.  Smiley Happy



Zero percent financing is where the devil lives...

10/01/17 Fico8 scores: EX 660, EQ 647, TU 663
Message 6 of 27
Frequent Contributor

Re: Orchard Bank proves completely useless

Yes, I am not angry, was just grasping at straws to hang on to this account lol... ain't happening!

Start: Nov'12 EQ 699/EX 685/TU 696 / Current: April''14 EQ 715/EX 709/TU 709 * Goal 750+


Message 7 of 27
Senior Contributor

Re: Orchard Bank proves completely useless

LOL!  No grasping...if they won't waive the AF, I'd just close it and let it go.  Smiley Happy



Zero percent financing is where the devil lives...

10/01/17 Fico8 scores: EX 660, EQ 647, TU 663
Message 8 of 27
Valued Contributor

Re: Orchard Bank proves completely useless


LS2982 wrote:
Discover normally takes at least 1-2 statements to report.

+1  Discover is known to be slow to report new accounts.

Message 9 of 27
Established Contributor

Re: Orchard Bank proves completely useless

I am pretty sure my orchard bank and BBRMC are both getting the axe in april.   My 2013 goal is no limits under 2k, and i doubt capitol plays ball. they have already lost 4 other cards with me , and will be losing my auto loan soon. 



TU 715 No apps to 05/13 cash+ 5/13!!! 738 TU CSP April 13!!!CSP approved May 13!!!


Message 10 of 27