Been looking online and cannot find anything. There is nothing new on CapOne site either. Anyone work there or have an inside scoop so to speak. I am paying off my CapOne and sock drawering it just in case. My Orchard Bank is paid off and in with the socks already. Wonder why they are being so secretive. Hmmm...
Starting Score: 'All three mid 500s as of 1/1/16
@indiasnowden wrote:Been looking online and cannot find anything. There is nothing new on CapOne site either. Anyone work there or have an inside scoop so to speak. I am paying off my CapOne and sock drawering it just in case. My Orchard Bank is paid off and in with the socks already. Wonder why they are being so secretive. Hmmm...
Because there's no rush to figure things out, especially with the entire landscape of the industry changing (Cap One has a lot more competitors now than they did at the point of Orchard acquisition).
C1 has been changing their policies in some of their cards already, we've already seen a rash of massive CLI's on C1 accounts that have been held open for a while and while we push credit boundaries on this forum more than the typical consumer, there's just too many examples in a small population to be ignored. We had a rumor from either an employee or a close associate of one that they were looking at graduating their secured cards now, and Orchard came up in that discussion too.
Cap One much like most financial institutions isn't the most nimble of organizations, and digesting a non-trivial company is never easy even for those organizations where that's their bread-and-butter business model, and it isn't C1's absolutely. So I don't think it's necessarily being secretive, but that there's just no impetus yet (like legions of Orchard customers closing their cards, I'm just fine with mine still) to prompt a knee-jerk reaction when they can take a little time and try to get it right while they're still integrating the systems.
only thing I know is we're supposed to use the capital one website around january 2013 instead of going to orchardbank.com
@Revelate wrote:
@indiasnowden wrote:Been looking online and cannot find anything. There is nothing new on CapOne site either. Anyone work there or have an inside scoop so to speak. I am paying off my CapOne and sock drawering it just in case. My Orchard Bank is paid off and in with the socks already. Wonder why they are being so secretive. Hmmm...
Because there's no rush to figure things out, especially with the entire landscape of the industry changing (Cap One has a lot more competitors now than they did at the point of Orchard acquisition).
C1 has been changing their policies in some of their cards already, we've already seen a rash of massive CLI's on C1 accounts that have been held open for a while and while we push credit boundaries on this forum more than the typical consumer, there's just too many examples in a small population to be ignored. We had a rumor from either an employee or a close associate of one that they were looking at graduating their secured cards now, and Orchard came up in that discussion too.
Cap One much like most financial institutions isn't the most nimble of organizations, and digesting a non-trivial company is never easy even for those organizations where that's their bread-and-butter business model, and it isn't C1's absolutely. So I don't think it's necessarily being secretive, but that there's just no impetus yet (like legions of Orchard customers closing their cards, I'm just fine with mine still) to prompt a knee-jerk reaction when they can take a little time and try to get it right while they're still integrating the systems.
If they started gradurating secured cards again I would actually consider reopening my account I closed with them , seeing as it was main reason I got the card 3+ years ago ,and just recently had enough of the bs ,and closed the account after unsucessfully emails to executive office, and even filing a BBB report. The gave me a free 100 and told me to go away pretty much.
I was the one who talked about Capital One tossing around the idea of graduating not only their secured cards, but Orchard Bank's as well. My source says something should be known in about a month or so, because they just started kicking around that idea. I don't know if you guys have the executive number for the Orchard Bank/Capital One arm, but I do. I'm new to the forum so if someone could tell me whether I can post it here or not, I would appreciate it. Of course I can't tell you my source, but you can call this number and ask questions and get help concerning these Orchard Bank cards.
Looks like you guys already have that number, so no need for me to post it. Good luck!
The plan is to just move everything over into the Capital One system, right now Capital One Card Services formerly HSBC Bank Nevada is a division of Capital One Bank USA, NA. By the end of 2012, according to a senior acct manager, everything will be Capital One Bank USA, NA and one system.
