topic Orchard Bank in Credit Cards

Orchard Bank

gtnitright — Wed, 03 Jul 2013 19:51:59 GMT

So I called to obtain a credit increase and was shut down. The CSR stated they are not giving any increases on this type of card. I asked will they Ever going to be open to give increase and he replied he was unsure. So then i asked about reducing AF and he stated ok I can do that for you. No CLI but happy about them reducing the AF to $19.99

Re: Orchard Bank

Anonymous — Thu, 04 Jul 2013 03:49:40 GMT

@MsPrissy47 wrote:
So I called to obtain a credit increase and was shut down. The CSR stated they are not giving any increases on this type of card. I asked will they Ever going to be open to give increase and he replied he was unsure. So then i asked about reducing AF and he stated ok I can do that for you. No CLI but happy about them reducing the AF to $19.99

Hi, and welcome to Capital One Purgatory where CLI`s are not given, cards are not upgradable, not combinable, and you are maxed out of accounts with C-1 once you have two open accounts.

At least you got something out of them, I was told in a short summary that of the 4 accounts ( 2 fmr HSBC/Orchard accounts, Capital One Secured, and C-1 Credit Steps cards ) at least 3 would need to closed in order to apply for a better account ( mind you there is no guarantee of getting it ). Personally, I think I have outgrown Capital One and will be looking to conduct my business elsewhere when a settlement check I am getting comes in and I pay all of my debt off except for the new car I purchased in April at 1.9% apr. That should jump my scores 15-20 points across the board once all that 0 utilization reports.

BTW - Was that a one time "courtesy" or your new AF going forward?

Re: Orchard Bank

djc1puno — Thu, 04 Jul 2013 04:36:04 GMT

I have an orchard card as well... Wait for the transition to finish then contact cap one eo.

Re: Orchard Bank

Anonymous — Thu, 04 Jul 2013 05:03:07 GMT

@djc1puno wrote:
I have an orchard card as well... Wait for the transition to finish then contact cap one eo.

Nice idea, but my Orchard already was transfered over, and since I already had two other Capital One cards.... They c(w)ouldnt do anything for me. If that one account is the only one the OP has, then they might have a different result.

The only solution Capital One has given me was to cancel my 4 accounts down to either 1 or 0, and then try my luck with being approved on new accounts with them to get better terms.

Cancelling them I will be doing later this summer, but I`ve decided that any new account I open to replace them will not be associated with Capital One and avoid their policies of low limits, and one time only stingy CLI in the first place.

Re: Orchard Bank

jumpinjax — Thu, 04 Jul 2013 13:08:06 GMT

@MsPrissy47 wrote:
So I called to obtain a credit increase and was shut down. The CSR stated they are not giving any increases on this type of card. I asked will they Ever going to be open to give increase and he replied he was unsure. So then i asked about reducing AF and he stated ok I can do that for you. No CLI but happy about them reducing the AF to $19.99

Ms, I have this card since the beginning of building my credit. I wasn't keen on continuing to pay the AF. Called, and told them that I've been a good customer and would like the AF waived. She paused, sent me to her manager, and she agreed to waive the fee. This happened a few days ago, so the AF waiver has yet to hit the account, despite the fee being reflected in the balance. Next year though, I may have to do the same when Cap One is servicing the account - at that time I will ask for a permanent waiver from the terms. And don't bother asking for a CLI, they will not even pull a SP or HP on you. Seems that HSBC is now Cap One policy. Lol

Re: Orchard Bank

Simply827 — Thu, 04 Jul 2013 13:18:13 GMT

I'm a bit hopeful that the OB card will turn into something useful. A couple of people have stated that CSRs told them HSBC cards would be converted to the new Quicksilver card.

I'll try to get my AF waived in August. If they refuse, I'll just close out the account. Unfortunately I'll still be left with 2 Cap 1 accounts, 1 of which I don't want to close since it has no AF.

Re: Orchard Bank

takeshi74 — Thu, 04 Jul 2013 14:34:01 GMT

Had 2 of these Capital One cards and an Orchard Bank card that became another Capital One card with the acquisition. Despite being my oldest account (easily replaced with AmEx backdaing in my case), one of the CO cards never went above a $1,300 limit. The other never went above $2,500. The OB never went above $900. All this despite my having other cards with $25K limits. Just not worth it to deal with CO any longer IMO. All three accounts were closed and other card companies are getting my business. I certainly appreciate the role they played in rebuilding my credit but these cards have ceilings and CO doesn't seem interested in growing these accounts as your credit improves.

Re: Orchard Bank

Anonymous — Thu, 04 Jul 2013 14:34:20 GMT

@Simply827 wrote:
I'm a bit hopeful that the OB card will turn into something useful. A couple of people have stated that CSRs told them HSBC cards would be converted to the new Quicksilver card.

It must be on a case by case basis as my new card showed up and it was an exact replica of the standard C-1 MC design of both my Secured and Credit Steps card. Havent gotten anything on my HSBC Discover though.

Re: Orchard Bank

Anonymous — Thu, 04 Jul 2013 14:38:20 GMT

@takeshi74 wrote:
I certainly appreciate the role they played in rebuilding my credit but these cards have ceilings and CO doesn't seem interested in growing these accounts as your credit improves.

This ought to be one of the 10 most important things to know when it comes to credit cards.

Re: Orchard Bank

injustifiiable — Thu, 04 Jul 2013 15:56:45 GMT

I'd wait until the card is FULLY converted...like, when you get a new card and am able to manage it through Capital One's website as opposed to the old HSBC one.

I have a Household card and that's my plan for it...

Re: Orchard Bank

Larkfield — Thu, 04 Jul 2013 15:51:34 GMT

Its a total miss by orchard bank in terms of their business model. They are great for giving people cards and encouraging people to rebuild their credit, but once a person does, they dont offer really any options.

MAYBE Capital One will help fix this, but Im sure it will take time.

Re: Orchard Bank

Anonymous — Thu, 04 Jul 2013 16:05:43 GMT

Hoping I don't get burned in the switch-over. My OB card started at 500, went to 800 and then to 1100. I currently have a 9.9 APR and hoping Cap1 keeps it there!

Re: Orchard Bank

Anonymous — Thu, 04 Jul 2013 16:33:51 GMT

@Anonymous wrote:
Hoping I don't get burned in the switch-over. My OB card started at 500, went to 800 and then to 1100. I currently have a 9.9 APR and hoping Cap1 keeps it there!

I imagine they will keep things as they are as I dont see them doing to the OB accounts what WAMU & Chase did to the former Providian Cards. The only way I see that changing is if at some point in the future you became a credit risk which triggered them into taking adverse action(s)

The only downside I would imagine is at some point you would get a $200 to $500 increase, and there you would stay for ever how long you kept the account open unless you got someone in the EO to CLI it.

I imagine too that at some point C-1 will put a stop to the MyFico crowd using the EO for gaming the system

Re: Orchard Bank

Anonymous — Thu, 04 Jul 2013 16:40:43 GMT

@Larkfield wrote:
Its a total miss by orchard bank in terms of their business model. They are great for giving people cards and encouraging people to rebuild their credit, but once a person does, they dont offer really any options.

MAYBE Capital One will help fix this, but Im sure it will take time.

You are more optimistic than I am as they have so many non flexible draconian rules set in stone which prevents it. I`m sure that given the current credit markets that for every one person like me whom has used them to re-establish credit ,can go no further with them and given no choice but to cancel, that there are 4 or 5 other people out there wanting to establish/re-establish credit willing to take the terms to replace me.

Re: Orchard Bank

CM1 — Thu, 04 Jul 2013 16:51:21 GMT

I also called the cap 1 eo and was shut down about a month ago. They transferred me to someone in the orchard bank division since the transfer had yet to be finalized. The manager did waive my AF for this year though. I don't want to close this account as it is my oldest account. Credit One Is my second longest only by 2 months though and I have though about closing that one though. Out of all the sub prime cards compared to others OB is not bad if you get the AF waived. It just stinks about the CLI or lack there of.

Re: Orchard Bank

djc1puno — Thu, 04 Jul 2013 19:47:54 GMT

I chatted w a rep online a few nights ago about pcing my orchard account once the transition is complete. He said that itll be an option once i receive the new card and to call after. So i guess ill just have to wait and see what happens

Re: Orchard Bank

Anonymous — Thu, 04 Jul 2013 20:28:04 GMT

@djc1puno wrote:
I chatted w a rep online a few nights ago about pcing my orchard account once the transition is complete. He said that itll be an option once i receive the new card and to call after. So i guess ill just have to wait and see what happens

Not trying to dissapoint you, and hopefully your situation will be different, but my orchard account is one of the first ones transitioned over completely and was sent a new standard looking C-1 MC. I really believe that someone reading this board is more informed than C-1`s reps whom since they really cant help you are trying to wing it on allowable talking points to get callers off the line as quickly as possible so their call times wont be too high on their metrix scorecards.

I was told that since I had too many accounts with them ( 2 C-1`s and and an Orchard that is x-fered over, and a HSBC Disc ) that I would have to close enough of them to maybe get a card with a higher line and better terms.

Uhhhhhh Riiiiiiiiiiiiiiiight. So for now I am actively looking for replacements for the 4 C-1 owned/controlled accounts that I have

Re: Orchard Bank

djc1puno — Fri, 05 Jul 2013 00:41:02 GMT

lajintx...nah i was completely believing them either...but it's always worth a try once the transition is complete..even if they don't do much for my account after, i've got to keep my orchard for at least a year or so since it's my oldest account.

Re: Orchard Bank

djc1puno — Fri, 05 Jul 2013 00:41:36 GMT

edit: *wasn't...

Re: Orchard Bank

gtnitright — Thu, 18 Jul 2013 00:05:53 GMT

I'm not sure and didn't care at the time I just wanted something out of that denial. I'm close to getting to the 700 club so hopefully I can get approved by someone else with higher TLs and better rates. Then Orchard/Cap1 will be put in a drawer never to resurface