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Established Contributor
beenthere
Posts: 971
Registered: ‎01-13-2008

Re: Pulled one credit weed. Tried to pull another with less success.

I wasn't willing to even ask Orchard to waive the AF. I shot'm.
1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
Senior Contributor
UpUpUp
Posts: 3,017
Registered: ‎06-03-2008

Re: Pulled one credit weed. Tried to pull another with less success.



beenthere wrote:
I wasn't willing to even ask Orchard to waive the AF. I shot'm.


See, I don't see any reason to ditch them if the aren't charging me anything. It's a positive tradeline with good history. So, as long as they aren't charging me, I'll keep them. But if they won't waive, I'll ditch them. I didn't ask, they just offered when i told them I wanted to cancel the card.
Frequent Contributor
islandchild82
Posts: 490
Registered: ‎01-24-2008

Re: Pulled one credit weed. Tried to pull another with less success.

I cancelled two Orchard cards the same day about six months ago. During the first call, the CSR offered practically everything to get me to keep the card. Hung up, called back to cancel the second. The second CSR said practically nothing until, "You're card is now closed." Just another example of everything depending on who picks up the phone.
Frequent Contributor
TangMeister
Posts: 456
Registered: ‎07-09-2008

Re: Pulled one credit weed. Tried to pull another with less success.

Cheddar, Cap1 can waive that fee in advance if you call them now. Just tell them you want it waived, and they can put it in their system to credit your account when the AF hits. They've done that for me in the past when I had an AF, as much as 3 months in advance.

Good luck!



cheddar wrote:
I closed my Orchard Secured card yesterday. Yes, Orchard Secured.


The guy didn't even try to get me not to close it. "Is there a reason the account isn't meeting your needs any longer?"


"Well, yeah. I got this card when I was rebuilding my credit. It's secured, has an annual fee, a $500 limit, and no rewards. In the meantime I have at least three good unsecured accounts with limits ranging from $7K to $15K, all of which offer me rewards with no annual fee."


"Oh, wow. Yeah, ok, you obviously don't need this anymore. Let's get you closed out."


After that, I tried to close my rebuilder Cap1, which had a $500 CL and was never eligible for CLI no matter how many times I called the backdoor number.


Before I canceled it, though, I asked for a CLI and an AF waiver. The Account Specialist told me there were no offers available for me. So, I told her to close the account. Miraculously, she was suddenly able to give me a CLI to $1K.


Still not thrilled with it, though. The $29 AF is due again in September, and if they won't waive it, I'll actually follow through and cancel it at that point.


Anybody have any guesses on how likely they'll be to waive the AF next month? Permanently even?




Regular Contributor
d09
Posts: 172
Registered: ‎07-02-2008

Re: Pulled one credit weed. Tried to pull another with less success.

I hear that with FICO 08 (excuse my speculation) that unused credit cards will actually hurt you somewhat (cards that report 0 utilization). The catch 22 with FICO utilization (unless you know to pay before the statement cuts) is that if you have month to month purchasing needs but not so much of a credit history or good CL's, then your score will be stuck low because of utilization and therefore you won't get the CLIs you need to improve your month-to-month utilization. This is especially true when companies fail to give auto CLI's for consistent PIF usage - if you request one yourself or try to apply for new credit, your consistent high utilization, despite your paying in full, will hurt your FICO scores.
Valued Contributor
casinoannie97
Posts: 1,989
Registered: ‎08-17-2007

Re: Pulled one credit weed. Tried to pull another with less success.

I closed my Orchard when they refused to lower the APR.  I started out with 500 and they gave me increases up to 1300 automatically/no charge.  They serve their purpose but do not care if you close them out or not.  They were not that bad really.
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007

Re: Pulled one credit weed. Tried to pull another with less success.



d09 wrote:
I hear that with FICO 08 (excuse my speculation) that unused credit cards will actually hurt you somewhat (cards that report 0 utilization). The catch 22 with FICO utilization (unless you know to pay before the statement cuts) is that if you have month to month purchasing needs but not so much of a credit history or good CL's, then your score will be stuck low because of utilization and therefore you won't get the CLIs you need to improve your month-to-month utilization. This is especially true when companies fail to give auto CLI's for consistent PIF usage - if you request one yourself or try to apply for new credit, your consistent high utilization, despite your paying in full, will hurt your FICO scores.


Reported utilization is everything.  You can use a card as much as you want as long as you pay it in time to control the balance that is reported to the CRAs.  This is not new in FICO 08.
 
Not sure what that has to do with this thread, though.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Established Contributor
miahmarie
Posts: 648
Registered: ‎02-04-2008

Re: Pulled one credit weed. Tried to pull another with less success.


cheddar wrote:
I closed my Orchard Secured card yesterday. Yes, Orchard Secured.


The guy didn't even try to get me not to close it. "Is there a reason the account isn't meeting your needs any longer?"


"Well, yeah. I got this card when I was rebuilding my credit. It's secured, has an annual fee, a $500 limit, and no rewards. In the meantime I have at least three good unsecured accounts with limits ranging from $7K to $15K, all of which offer me rewards with no annual fee."


"Oh, wow. Yeah, ok, you obviously don't need this anymore. Let's get you closed out."


After that, I tried to close my rebuilder Cap1, which had a $500 CL and was never eligible for CLI no matter how many times I called the backdoor number.


Before I canceled it, though, I asked for a CLI and an AF waiver. The Account Specialist told me there were no offers available for me. So, I told her to close the account. Miraculously, she was suddenly able to give me a CLI to $1K.

Still not thrilled with it, though. The $29 AF is due again in September, and if they won't waive it, I'll actually follow through and cancel it at that point.


Anybody have any guesses on how likely they'll be to waive the AF next month? Permanently even?






They will waive the fee. Just call back to close it near your date and tell them like it is. You have better tradelines and you do not need to pay an annual fee!

They told me they could do one or the other......I got the lady to do both. I really did want to close it. But I will let it sit for one more year and get some history.

She only waved the fee for this upcoming year. Honestly I do not need it that much. And since most of my credit is new, this one falling off in ten years really shouldn't hurt so much!

But I guess I could be wrong...it is only a year older than my last opened tradeline. So I figure it won't hurt too much.
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007

Re: Pulled one credit weed. Tried to pull another with less success.

I kept meaning to update this thread, but it kept slipping my mind.

 

Cap1 finally assessed my $29 AF, so I called to ask to have it waived.  No go.  They even got a little short with me and reminded me that I agreed to pay the AF when I got the card.

 

Then they had the nerve to act surprised when I closed the account.

 

Ahh well.  One less toy limit card to worry about. :smileyhappy:

 

----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Senior Contributor
FretlessMayhem
Posts: 3,279
Registered: ‎08-03-2007

Re: Pulled one credit weed. Tried to pull another with less success.


cheddar wrote:

I kept meaning to update this thread, but it kept slipping my mind.

 

Cap1 finally assessed my $29 AF, so I called to ask to have it waived.  No go.  They even got a little short with me and reminded me that I agreed to pay the AF when I got the card.

 

Then they had the nerve to act surprised when I closed the account.

 

Ahh well.  One less toy limit card to worry about. :smileyhappy:

 


You've really been gardening the past couple days. That's a closing of 2 out of 3. 

Here we go again...

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