Orchard Bank!

[Anonymous]

I just closed my Orchard Bank card today!! I called and asked them to remove my annual fee and they said that couldn't do that for anyone (B-S!). They offered to raise my CL to $400 ($100 increase) and I said that was unacceptable, so I just closed my account.

I feel scared, like I did something wrong, but I can't keep these cards with annual fees when I have cards with NO annual fees. I mean, perfect payment history for a year should entitle me to a CL increase without having to threaten cancellation, right?

Ugh.

[Anonymous]

Of course you feel scared smartgurl! You are taking a proactive stance on something that is rightfully yours.....YOUR MONEY! Saving the AF's is sound credit management. Keeping your money, is logical. No need to have it go down the drain. Orchard is what I call a 'builder card'. Sure has it's place when starting out or repairing your credit. But its time has passed, and you've graduated. Congrats! I'm about to do the same with My Applied Card Bank Platinum Visa, by taking advantage of a WaMu 0% balance transfer offer(gulp). I've never done a BT and I'm scared too!

[dallasjetfan]

I just closed my account also because they would not graduate my account.

[Anonymous]

The 'we can't do excuse'  easily translates to 'we won't do'.  These are subprime cards designed for people who can do no better.  You did nothing wrong except to take the training wheels off.  Ready for your big girl bike now?

[Anonymous]

Thanks for the info!  I have a 59 AF Orchard I got in 2/07.  I was debating in January asking the AF be waived.  Since it appears they prob won't I guess I'll have to close mine then too.  I hate to since it's on of my older accounts but I can't see paying 59 for it.

Eventually

[haulingthescoreup]

And of course, you'll still have the history on a closed card for 7 more years (wait, is it 10? senior moment here!) By the time it falls off, you're going to have so much good credit history that the loss of that one TL probably won't make a blip on your scores. Sounds like it was such a low CL that it shouldn't affect your util much. It sure doesn't sound like something worth paying fees on!