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HSBC/Orchard Bank Limit Increases

beamMEup
Moderator Emeritus

Re: HSBC/Orchard Bank Limit Increases


DrBlackBelt wrote:   I definitely don't want two concurrent car payments. 

I'm SO with you on that!  Smiley Tongue  Best wishes!

Just puttin' syrup on something, don't make it pancakes.
Message 11 of 51
angeldaria
Valued Member

Re: HSBC/Orchard Bank Limit Increases

 

 

I have had my orchard bank card since May 2010 and have yet to get a CLI at all. I PIF every month.   From what I've read so far they don't seem to be very liberal with giving out CLI's at all. Oh well the card is just a stepping stone for me. I have a wishlist of other cards that I would much prefer to have in my wallet Smiley Wink


Starting Score: TU 617 EQ 625
Current Score: TU 722(11/30/11) EQ 687 (11/21/11) EX 703 (lender pull, 11/19/11)
Goal Score: TU 700 EQ 700


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Message 12 of 51
Meddle
Member

Re: HSBC/Orchard Bank Limit Increases

I have been a HSBC - Orchard Bank card member for 1 year now and at 6 months they didn't offer a CLI and at 12 months (today) they have not offered CLI. They claim it is a business decision.

Does anyone believe writing management may get my account reviewed? I have ALL positive with 15% utilization on the card.


Starting Score: 549
Current Score: 7255
Goal Score: 730


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Message 13 of 51
vish1
Valued Contributor

Re: HSBC/Orchard Bank Limit Increases

I have been unable to understand why people expect CLIs from orchard / HSBC / FP / CAP 1 (lower end cards).

 

All these cards for a sensible user are to build/rebuild credit to a point where you can move on to something better.

From a CCC point of view, they have no real reason to try to hold on to customers who have established some credit already. They make money by giving credit to people no will else will and in the process charging them some crazy fees.

 

If I was running one of those banks, based on what i learnt in my business school, I wont offer any credit limits. Instead of offering you the limit of 300, I can get 1 more customer and make 75$ from him as fee and then hope to make more in terms of interest.

Citi Hilton Reserve 22.3K | Citi Thank You 8.2K | CSP 15.5K | Chase Freedom 10K | Chase BA 15K | Chase United 8.5K | Chase Marriott 5K | Discover IT 9K | Club Carlson 13K | Amex SPG 20K | BofA Cash Rewards 11K | BofA Cash Rewards 50K
Message 14 of 51
vish1
Valued Contributor

Re: HSBC/Orchard Bank Limit Increases

 


@vish1 wrote:

I have been unable to understand why people expect CLIs from orchard / HSBC / FP / CAP 1 (lower end cards).

 

All these cards for a sensible user are to build/rebuild credit to a point where you can move on to something better.

From a CCC point of view, they have no real reason to try to hold on to customers who have established some credit already. They make money by giving credit to people no will else will and in the process charging them some crazy fees.

 

If I was running one of those banks, based on what i learnt in my business school, I wont offer any credit limits. Instead of offering you the limit of 300, I can get 1 more customer and make 75$ from him as fee and then hope to make more in terms of interest.


 

This is just my opinion, not targeted to pick on anyone.

Citi Hilton Reserve 22.3K | Citi Thank You 8.2K | CSP 15.5K | Chase Freedom 10K | Chase BA 15K | Chase United 8.5K | Chase Marriott 5K | Discover IT 9K | Club Carlson 13K | Amex SPG 20K | BofA Cash Rewards 11K | BofA Cash Rewards 50K
Message 15 of 51
-Furbz-
Contributor

Re: HSBC/Orchard Bank Limit Increases

i've had the orchard since May of 2010 and have yet to receive a CLI but i stopped trying with them a few months ago. It is a re-buider card but the bank should also realize that if a person is spending money and paying 85 to 100% every month they are trustworthy and should get a hand= cli

 

 

 

 

 

 

Message 16 of 51
vish1
Valued Contributor

Re: HSBC/Orchard Bank Limit Increases

 


@-Furbz- wrote:

i've had the orchard since May of 2010 and have yet to receive a CLI but i stopped trying with them a few months ago. It is a re-buider card but the bank should also realize that if a person is spending money and paying 85 to 100% every month they are trustworthy and should get a hand= cli

 

 

 

 

 

 


 

Not picking on you, but I think orchard wont want to give you a cli coz according to their business model, you will most probably graduate to something else very soon after you have hit the point where you are looking for a CLI. Won't you rather have a chase/amex/discover/citi in your wallet instead of orchard once you hit 700?

Citi Hilton Reserve 22.3K | Citi Thank You 8.2K | CSP 15.5K | Chase Freedom 10K | Chase BA 15K | Chase United 8.5K | Chase Marriott 5K | Discover IT 9K | Club Carlson 13K | Amex SPG 20K | BofA Cash Rewards 11K | BofA Cash Rewards 50K
Message 17 of 51
-Furbz-
Contributor

Re: HSBC/Orchard Bank Limit Increases

i know you wasnt, just like you im only putting my opinion out there.

Message 18 of 51
stan_the_man
Established Contributor

Re: HSBC/Orchard Bank Limit Increases

@vish --

 

I agree with the for the non-prime cards and customers, but HSBC also issues prime cards and has customers. For example, I have a GM Flex Rewards card (which is a prime card) and I'm a prime customer (805 EQ, 793 EX, 795 TU).

 

What do make of HSBC business decision of not being willing to even consider a CLI for me and others like me?

Message 19 of 51
hawkeye33
Regular Contributor

Re: HSBC/Orchard Bank Limit Increases

I've had Orchard MC since May 2008. I started at $300. I believe it was after 6 months or so that I called them, and they bumped me to $520. I haven't really been monitoring this card since then and am likely planning on giving this good rebuilder card the boot this spring, before the annual fee, unless they are willing to completely waive the fee. I was shocked in January when I was notified of an unsolicited CLI to $720.

 

In any event, I agree with most on this string that you shouldn't really have much for expectations on the Orchard card. Use it heavily (within means) and pay it off monthly to build good history. Aside from that, I wouldn't stress too much about no CLIs.

Message 20 of 51
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