Orchard Bank Credit Card Annual Fees Review

Posted On: March 26, 2007

A guest to our site noticed that Orchard Bank annual fees rose from 16% to 29% though her history with them was perfect. Also, the annual fees also rose some more. Anyone else had this experience? Please share.

Thank you.
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Heshan Demel
Board Monitor
http://www.CardRatings.com
20K+ Credit Card Reviews

Author: bullwinkle29
Posted: Fri Mar 16, 2007 3:06 pm
Post subject:

i’ve had there card, but when i bad credit years ago, i wouldn’t apply for any of those sub prime rip off credit cards. you’re better off getting a chevron gas card or a store card that you shop at. only fools fall for sub prime cards. IMHO

Author: angelo21
Posted: Fri Mar 16, 2007 3:55 pm
Post subject:

Doesn’t seem right. Although Orchard is a sub prime product, their APR hovers at around 19%. Their annual fee fluctuates between $24 - $79 depending on the card you were approved for.

Once again, as has happened to many in the past, this looks like a default rate.

She needs to check if she’s gone over her CL, had a bounced check, late payment, etc.

If the answer is ‘none of the above’ I recommend she call to find out what the story is.

She should also post afterwards to let us know if this indeed is a change in policy.
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Author: direred
Posted: Fri Mar 16, 2007 9:18 pm
Post subject: Re: Increase in Orchard Interest rate and Annual Fees

shan7 wrote:
A guest to our site noticed that Orchard Bank annual fees rose from 16% to 29% though her history with them was perfect. Also, the annual fees also rose some more. Anyone else had this experience? Please share.

They’ve done the “move along” thing to people getting better cards, actually, and that may be all this is if she’s been getting better cards.

Author: Brammy
Posted: Fri Mar 16, 2007 9:24 pm
Post subject:

That plus the fact that they will reevaluate her risk even if that is her only card but her utilization was over 50% for any period of time.

The PP had it right they do the move along thing, it happened to me with perfect payment with the HHB MasterCard with perfect payment history for four years so move along I did. Maybe they know they’ll be losing that ridiculous interest and want to make as much money as they can before YOU realize it too. Probably be more in their best interest to upgrade your card instead of losing a customer.

Funny, thier parent company just hooked me on a cash back, hopefully this will be better but if not I always have my sock-drawered cards.

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