Should I ask for a credit line increase

Anonymous · ‎02-25-2008

I have had a Orchard card for seven months. I want to ask for a increase, but they tell me "We MAY pull a new report ". I would not mind them running the report, as the scores are much better now, but I don't want the hard pull.

I have been paying in full on this card twice per month. Never late, or over limit, so I think I would get the increase based on current FICOs, and utilization, and record with the company. I just really don't want the hard pull.

So, my questions are.
1) Am I just being silly about the hard pull?
2) What is the forums experience Orchards. Is 7 months long enough history to merit a increase?
3) In the forums experience with Orchards, when they say "they MAY pull a new report" is it a 50/50, they will pull? 30/70? Whats the chance they will pull?

Thanks
TBR

Anonymous · ‎02-25-2008

likely be a hard (90%) and then they'll decline the cli request. use orchard to get good history and move on. they have no desire to grow w/a good customer.

Anonymous · ‎02-25-2008

TBR, have you tried calling Orchard's "backdoor" number? After reading about all the positive experiences people on the board were having, I suggested my best friend (an Orchard cardholder) call the number. She and many others on the forum were able to get a CLI without a hard pull. She also finagled an APR reduction as well. Now if I could only get her to join me in the PIF club...

The number is 800-395-6090. Good luck!

Anonymous · ‎02-25-2008

I had my Orchard Bank account for a little over a year now. I asked for a CL in the first 5 months, they did a hard pull and charged me $15 for the increase. Today 7 months later I call for a CLI they offered a $100 increase for $25 with a hard pull. I declined. dnm45227 is right just use them for the good history and then move on. I am going to. Oh yah my CL is $400 now.

fused · ‎02-25-2008

TBR- wrote:
I have had a Orchard card for seven months. I want to ask for a increase, but they tell me "We MAY pull a new report ". I would not mind them running the report, as the scores are much better now, but I don't want the hard pull.

I have been paying in full on this card twice per month. Never late, or over limit, so I think I would get the increase based on current FICOs, and utilization, and record with the company. I just really don't want the hard pull.

So, my questions are.
1) Am I just being silly about the hard pull?
2) What is the forums experience Orchards. Is 7 months long enough history to merit a increase?
3) In the forums experience with Orchards, when they say "they MAY pull a new report" is it a 50/50, they will pull? 30/70? Whats the chance they will pull?

Thanks
TBR

Where are your FICO scores at?

Anonymous · ‎02-25-2008

Thanks all,

Called the 800 posted. Got a English speaker (big help), who as at least interested and capable helping, but came back with about the same answer. "Don't count on us NOT running a new report". She suggested waiting as they do review etc.

I can wait for the CLI, as I don't really need it, just want it for the overall score improvement.

Thanks for the specific Orchard info.

TBR

Edit to add:
Current scores Exp-681 TU-671 EQ-641, when I applied they were ~600

Message Edited by TBR- on 02-25-2008 03:32 PM

fused · ‎02-25-2008

TBR- wrote:
Thanks all,

Called the 800 posted. Got a English speaker (big help), who as at least interested and capable helping, but came back with about the same answer. "Don't count on us NOT running a new report". She suggested waiting as they do review etc.

I can wait for the CLI, as I don't really need it, just want it for the overall score improvement.

Thanks for the specific Orchard info.

TBR

Edit to add:
Current scores Exp-681 TU-671 EQ-641, when I applied they were ~600

Message Edited by TBR- on 02-25-2008 03:32 PM

Hold the elevator...your scores alone are good enough for something better. What's the bad stuff on your reports and how old is it?

Anonymous · ‎02-25-2008

agree w/fused. if you care to list baddies (if any) and # of inq's the mob could point you in the direction of educated guesses of approvals.

Anonymous · ‎02-25-2008

I also have Orchard and just hit 8 months. 500 cl pif monthly. Spoke with a very nice lady regarding cli. She did say they may pull cr and ask for permission. Said sure, placed on hold 1 minute, she came back and said looks like will be denied. I will rcv letter in mail. She also stated this card is basically for building credit only and to not count on cli, at all.

Received letter in mail 3 days later, "denied", checked reports soft inquiry from EQ. This card goes in the drawer.

EQ 665

EXP 715

TU 640

Anonymous · ‎02-25-2008

Would love the help.

Let me put a post with the current info.

TBR