My conversation with Orchard Bank

Anonymous · ‎02-15-2008

(Paraphrased)

Me: Hi, I opened an Orchard Bank secured card several months ago in order to help rebuild my credit, and now my credit is in much better shape and I have several accounts with prime lenders. The reason I'm calling is to see if I can possibly unsecure this card, or whether I'll be forced to sever my relationship with Orchard Bank since I've outgrown the card I have.

OB: That's a very good question, Mr. Cheddar. I will put through a request to unsecure your card, and you will receive an answer by mail in about 10 days.

Me (a little surprised): Really? You do unsecure these cards?

OB: You will receive an answer in 10 days.

Me: But in general, it is possible to unsecure a secured card?

OB: We will check to see if you qualify to have your deposit refunded to you.

Me: Does that involve a hard inquiry on my credit report?

OB: No, no, we just check your payment history and see if you were ever over the limit.

Me: OK, you're sure you won't pull my report.

OB: I understand, Mr. Cheddar, that your credit is very important to you. If you want to have a different card, may I suggest that you may want to apply for a new card with us.

Me: Well, I don't really want to do that because I have a friend who has the same card I have and when he applied for a new one he was denied for already having an existing card, and he ended up with an inquiry on his credit report for no reason. I don't want that to happen to me so that's why I'm asking about the possiblity of having my existing card unsecured.

OB: I see, Mr. Cheddar. Well, I understand your credit is very important to you. Since you are interested in maintaining your good credit, we have a credit protection program that will protect you in case of...

Me (interrupting): No, no, no, I'm not interested in that at all. Thank you.

click.

What's wrong with these people? I'm asking some very simple questions here, and instead of addressing my concerns or answering my questions directly, they're just trying to sell me something.

But I was surprised that he left open the possiblity of unsecuring the card. I have a feeling, though, that the letter I'll get will explain that they can't unsecure my card, and I'll have to apply for a new one. Seems like it was just a way to keep me from closing the account on the spot.

Red1Blue · ‎02-15-2008

That is the world of Orchard. Let me guess, you spoke to one of the Overseas CSR. Am I correct? Every time, when I talk to Overseas Orchard CSR, I can never get the right answer.

Anonymous · ‎02-15-2008

concorduser wrote:
That is the world of Orchard. Let me guess, you spoke to one of the Overseas CSR. Am I correct? Every time, when I talk to Overseas Orchard CSR, I can never get the right answer.

I'm not sure there is any other kind with OB.

llecs · ‎02-15-2008

Thanks for posting the dialog...they still didn't really answer your question on unsecuring cards, did they?! I guess you'll receive your answer in 10 days.

Anonymous · ‎02-15-2008

llecs wrote:
Thanks for posting the dialog...they still didn't really answer your question on unsecuring cards, did they?! I guess you'll receive your answer in 10 days.

No, they didn't answer my question directly. In all the posts I have read here I've never seen anyone have success unsecuring an Orchard card. When I called, I wasn't really expecting them to say yes, which is why I was a little confrontational right from the start. I just wanted to see what they might offer me when I threatened to leave them.

But like I said, I have a feeling the "letters" they send in response to these requests probably all say the same thing. Sending a letter instead of giving a direct refusal on the phone buys them some time and prevents people from saying "Oh, well in that case just close it and return my deposit."

Red1Blue · ‎02-15-2008

cheddar wrote:

llecs wrote:
Thanks for posting the dialog...they still didn't really answer your question on unsecuring cards, did they?! I guess you'll receive your answer in 10 days.

No, they didn't answer my question directly. In all the posts I have read here I've never seen anyone have success unsecuring an Orchard card. When I called, I wasn't really expecting them to say yes, which is why I was a little confrontational right from the start. I just wanted to see what they might offer me when I threatened to leave them.

But like I said, I have a feeling the "letters" they send in response to these requests probably all say the same thing. Sending a letter instead of giving a direct refusal on the phone buys them some time and prevents people from saying "Oh, well in that case just close it and return my deposit."

I just closed my NMB secured card last week, and waiting to the Deposit back in 8-10 weeks. It served its purpose. Time to move on. If you think Orchard Card served the purpose, get your money back and move on. I dont think Orchard has the policy of making cards unsecure. I have never heard of it.

Anonymous · ‎02-15-2008

Gosh cheddar, I feel your frustration.

But the answer is simple. They simply did not know the answer to your questions. And was thrown completely off balance when you asked questions not on their script. They didn't know how to respond to you.

Now isn't that sad? I'd say dump them.

Red1Blue · ‎02-15-2008

cheddar wrote:

llecs wrote:
Thanks for posting the dialog...they still didn't really answer your question on unsecuring cards, did they?! I guess you'll receive your answer in 10 days.

No, they didn't answer my question directly. In all the posts I have read here I've never seen anyone have success unsecuring an Orchard card. When I called, I wasn't really expecting them to say yes, which is why I was a little confrontational right from the start. I just wanted to see what they might offer me when I threatened to leave them.

But like I said, I have a feeling the "letters" they send in response to these requests probably all say the same thing. Sending a letter instead of giving a direct refusal on the phone buys them some time and prevents people from saying "Oh, well in that case just close it and return my deposit."

Cheddar, to be honest, last couple of times when I got CLI ( $100 each time ) they say "there might be an inquiry", is it ok to proceed. I said it is ok. They never pulled any hard inq on me and I got the CLI. May be you should take chances and say ok and see what they say.

llecs · ‎02-15-2008

Cheddar, I'm posting your soon-to-arrive letter here just in case the mailman loses it.

Dear Cheddar,

Thank you for your interest in the Orchard Bank Secured MasterCard. At this time we are unable to convert your card to an unsecured card.

Orchard Bank is offering unsecured cards at this time. Feel free to apply for our many card products at ob dot com. We also realize that your credit is important to you, so sign up today for our credit protection plan.

Sincerely,

OB

Anonymous · ‎02-15-2008

LOLOL!!

Good one llecs!