Orchard Bank

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Orchard Bank Credit Card - Problems
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I think this call made on today (February 13th 2008) is my 5th time to call Orchard Bank to mail out the cancellation confirmation letter as well as the deposit check since I cancelled my credit card on January 2008. After over one month, I still have not received my deposit check since they claimed I would receive it in one month.

But this time, this 5th representative told me I will receive the deposit check in 2 months. Did they change their policy on sending out customers deposit checks in just two weeks? I am very curious.

I applied this credit card over 27 months ago because my credit score was low. I also had to deposit $1500 as secured fund to get their secured credit card. They initially claimed I can get my deposit back after 18 months. After that 18 months, I ever called them about my deposit. They told me I can not get my deposit back, but they will consider my request once they think my credit is good enough,something like that. Did that mean that they will hold my deposit for 5 year or even forever because it is their decision on if I can get my deposit back. Although my credit score has increased dramatically since then (not because of Orchard Bank credit card), but my deposit was still FIRMLY HELD by them.

After I applied Orchard Bank credit card for low credit customers,I ever applied Citi credit card and Bank of America credit card. Both banks are very good. Citi Bank hold my deposit for 18 months and they sent me my deposit after 18 months. They also increased my credit limit to $2500 without my request. Bank of America returned my $1500 deposit on time after 6 months. Personally, I suggest you can try those two banks if you are considering to have a bad credit or low credit card.

My typing speed is very slow, but today I must spend some time and write some something about my real story. If my story can help others avoid further problems, I will feel a little better.
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Posted by on
SALINAS, CALIFORNIA -- Please don't pay your Orchard Bank credit card by using their online bank payment. They hold your payment for 14 days even though they've deducted your payment from your checking account. Not one service agent has given me an acceptable answer to why Orchard holds the payment "hostage" for so long. The payment amount is gone from my bank, but "on hold" with Orchard Bank. It's in the small print so beware! They cop-out by telling their customers to refer to the "agreement". I'm sure it's written into the small print, but that still doesn't answer the question as to WHY. Pay your account by phone using your debit card instead.
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saj80 on 07/12/2011:
Contact their federal regulator; new regulations require payments be credited on the day they are received, and can not be held. They are breaking the law, regardless of what their agreement states, and it needs to be reported.
michael falletti on 07/10/2013:
phone center in india.
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Ridiculous late fee charges
Posted by on
CITY OF INDUSTRY, CALIFORNIA -- I was offered a credit card in 2008 with a $300 limit through Orchard Bank(HSBC Services).Big mistake! I really needed this money as my mother had kidney cancer and had to have surgery to remove one kidney and I wanted to be there and take care of her afterwards, so I opted to accept the card thinking it would help me out for the time I was with her. I paid on this card faithfully every month and only charged about $250 on the card. Then in May 2008,my husband had a heart attack and he was off work for some time and I was the sole bread winner. I called Orchard Bank and explained the circumstances and said I could not make the monthly payments as schedule but would send what I could at a different date each month but when the bills started piling up and groceries needed to be bought, I could not pay anything and called them again. They told me they would waive the late fee if I sent in $75.I did and they did waive the fee but then they added fees to the next few months I could not pay, which I thought they were waiving fees until I could get back on track and my husband got back to work. Now I owe over $900 and it is in collection. They will settle for around $750.I only charged $250 and told them I cannot pay that. I feel I was deceived and scammed into getting this card. Many people have been in this situation and it is very unfortunate that we have to be treated like this and used. Do not ever take Orchard Bank(HSBC Services) up on any credit card offers, as the late fees and interest are extreelmy high and you will never get it paid off. I was stupid and fell for this.
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fast327 on 06/30/2010:
How was this a scam?
goduke on 06/30/2010:
All credit cards have high late fees. It's a penalty for paying late. I can guarantee you that it was disclosed when you signed up for the card. What did you honestly think was going to happen when you stopped paying the bill?
Buddy01 on 06/30/2010:
It seems that the waiving of the fees was for that month only and not until you caught up.
skelly39 on 06/30/2010:
I'm sorry for your troubles, and I know how hard it can be to take care of credit card bills when you have more pressing issues, but this isn't a scam. If you weren't sure what they meant, you should have had them put it in writing.
momsey on 06/30/2010:
It's not a scam, it's a credit card. You entered into an agreement with Orchard Bank that they would extend you $300 of credit and you would pay it back to them under the terms of the agreement. I am sorry for your troubles, but troubles don't erase debts. If that were true, probably most of us would be debt-free.
Anonymous on 06/30/2010:
Surely you understand that none of the CC companies would waive late fees "for a few months" right?
Anonymous on 06/30/2010:
So let me get this straight. You borrowed $250 but now two years later you owe $900? What shocks me the most about this is those who don't see this as a scam because quite frankly what else would you call it.
Anonymous on 06/30/2010:
Stew, figure up $250 x 29.9% interest for 24 months. I'm too tired this morning but I bet you'll find your answer there.
Anonymous on 06/30/2010:
JC, That comes to a finance charge of $201.30. Add that to the original $250 and you get $451.30. So yeah I stand by my SCAM declaration. I don't know about other courts but in Oklahoma or Texas if you sued somebody for a two year old original CC debt of $250 aside from default judgment you'd be darn lucky to get a judgment of $400. There ain't no way in the world a judge would award $900 or $750 and I don't care what the CC terms and conditions say. Because bottom line $900 for an original debt of $250 is not reasonable. Judges, well at least in Oklahoma and Texas, are all into reasonable.
Anonymous on 06/30/2010:
No, that's incorrect. It would be $250 x 29.9% which is approx $75. The following month would then be $325 x 29.9% and so on. Of course there were also however many late fees added in, and then whatever payments were made deducted, but yea I can totally see how the balance got to $900.

Of course I think all CC companies screw customers over....but it's not a scam, you know what you're getting into when you sign up, and if payments aren't made, this is what happens.

A scam is illegal, and you and I both know this isn't illegal.
Slimjim on 06/30/2010:
I am sorry also for the troubles you incurred and I'm not going to specifically question why this was let go so long, but readers should take something important from this experience here. If you have a small balance credit card, don't default it if at all possible. The minimum payment was at the time, somewhere in the neighborhood of $10-$20. Not keeping a card like this current will still slap the same aprox $35 late fees and $35 over-limit fees as a $10,000 balance card. By the second month of delinquency, you already had (I'm guessing) $70 in fees plus around a $30 past due minimum payment. I'm not a math wiz, but pounding $70 extra in fees a month, plus the interest on them, it's not a stretch for me to see why the balance is $900 after two years.
Frankly poster, you are already in collections and they aren't going to sue you for that balance. I wouldn't pay them anything until they at least agree to take the $250 and call it settled. Maybe even look for a settlement for less.
Anonymous on 06/30/2010:
JC, I don't know if I agree with your math. 29.9% is an annual percentage rate and not a monthly rate. In fact for credit cards they use a daily rate which for 29.9% would be 0.082% per day.

In order to compute the future value of $250 in 24 months with a 29.9% interest rate you'd use one of the following formulas.

FV = 250 * (1+.299/12)^24 (compounded monthly)
FV = 250 * (1+.299/365.25)^730.5 (compounded daily)

I compounded monthly in my previous example. But even compounding daily the future value only comes to $454.69.
Anonymous on 06/30/2010:
slim, that is about the best advice offered up on my3cents in a long time. What would that be +975?
Slimjim on 06/30/2010:
Just use my data stew. Simply put, if poster was late and over the limit for 24 months, than the industry common of $35 each ($70) total a month would be $1680 alone. Obviously after a while the line gets charged off and fees stop being imposed, hence the "discount"
Slimjim on 06/30/2010:
See that, we are so in tune I'm answering you before you ask. Can anyone say StewJim Nation?
Anonymous on 06/30/2010:
I think you're right, Stew...I told you I was tired this morning! Slim's comment pretty much sums up where I was trying to go.
skelly39 on 06/30/2010:
Slimjim is right. You aren't counting the late fees and over the limit fees. Interest adds up on those, too. Paying the minimum payment of $10 or $15 would have eliminated the fees, but it probably would have taken the OP 25 years to pay it off, especially at that rate. Credit card companies and banks are immoral and unethical, but if you blindly say "okay" and agree to their usurious terms and conditions, it's not a scam.
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Credit Help Or Credit Destruction
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CATSKILL, NEW YORK -- I became a customer of Orchard Bank in Feb of 2008. I kept my activity on my card to a medium to high level. I was a secured account of $300 so I was operating on my own money. September 3rd I called Orchard Bank and asked how to add money to my secured account. They gave me the information and the address and company name where to mail my additional deposit to. I followed the instructions and mailed additional funds to Intermountain bank with my account information. One month went by and no increase to my account. I contacted Orchard and they told me the funds had been applied to my bill. They took over 2 months to fix the error I was told that I did not mail it to the correct address and company upon receiving my cancelled check it showed the check was made out to Intermountain bank but Orchard Bank decided to cash my check that was not theirs. I spent many many hours on the phone with them and never made any headway. I also joined their account protection plan to protect my account in case of emergency. Last month my account was overdrawn by $4.00 because if the account protection plan. the month before that I received a pre-approved card packet. I gave the information over the phone to a representative and she told me I would receive my card with a minimum credit limit of $300 and a max of $2.500 the following week I received a credit alert from my credit counseling company telling me that Orchard bank flagged me for going over my credit limit and added another credit inquire on my report.

They informed me that I was denied the card that they had already approved because of a recent report on my credit. the report was from them.... So instead of helping me to build my credit they used my money (secured card) to even lower my credit score..Thank you Orchard Bank for all the trouble and time wasted on you company.
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HSBC Orchard Bank Credit Card - A Bad Credit Card
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I received my deposit check from Intermountain Community Bank which is the bank for the Orchard Bank credit card.Before I received this check,I called orchard bank’s 503 phone number about 10 times. What I learned is that you should dial their 1800 number instead of 503 phone number.I guess that their employees in India or other foreign countries picked up the 503 phone calls. But the 1800 phone calls are picked in USA.

Some lessons:

1.be very patient if you have Orchard Bank credit card and you plan to get your deposit back. They claim you will get your deposit check in 2 months.But you still have to give them call because after 2 months you will still probably don’t get your check.

2.If possible,go to Citi Bank or Bank of American and apply for their secured credit card or unsecured credit card. These banks are 1000% better than Orchard Bank.

It seems like that it is nearly impossible to make a secured credit card into unsecured even I make payment very promptly and I keep my balance low. After 26 months, my credit card is still secured.When I request that they change the status to unsecured,their reply was that they will research the issue and made their decision in proper time. My credit has increased dramatically in two years and several banks give me $2000 unsecured credit.But never dream of getting a unsecured credit card from Orchard Bank.

3.Dial 1800 phone number on bank of your credit card instead of 503 phone number.Because their overseas employees simply don’t solve problems and maybe even make problems worse. That is really a waste of time and the employee’s time.

In my experience,Orchard Bank credit card and Capital One credit card are the worst credit card. Try to avoid these two credit cards and don’t fall trap by their advertising tricks.
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Posted by on
SAN JOSE, CALIFORNIA -- They incorrectly charged me for interest, even after I paid my balance in full and on time. I have talked to 4 different people, in Spanish, English and 1 "supervisor" and nothing....like talking to "Peggy" (the commercial)
I also wrote an email to customer service without any response. Frustrating!

PLEASE, be kind to yourself and save yourself unnecessary pain, DO NOT GET THIS CREDIT CARD.
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Sophia Marie on 06/20/2011:
Just curious - - was the interest you were charged the amount that accrued between the time you made your final payment and when it was received? This is a very common situation when dealing with any type of loan - - there is usually that small interest charge that consumers aren't expecting.
bcd on 06/20/2011:
Was there a cash advance involved? That could account for the interest charge.
olie on 06/20/2011:
Or--You carry a balance for a few months, and then finally pay it off. Let's say I pay off a January balance in May.

There's some 2-cycle "thingy" that allows the bank to charge you for the interest that accrued over the last two months. So even though I paid the "balance" in May, I'll get a statement in June saying I owe some pretty minimal amount.

It's legal. It's likely in all that paperwork you signed or they sent to you within the past months.
bcd on 06/20/2011:

Double-cycle billing is no longer permitted so that consumers are not hit with finance charges from previous billing cycles after the bill is paid in full. (That really didn’t seem fair and should always have been unlawful).
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Don't make your payment to early!
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CITY OF INDUSTRY, CALIFORNIA -- This bank raised my APR to 29.46%, stating that I was late on a payment. A review of my payment history, with the company representative, showed that all of my payments have been early, in fact some of them have been over 30 days early. There is the problem, if you make two separate payments within a payment cycle they consider both as payment for that cycle, even though you intended that the second payment was for the next cycle, (over 30 days early). The bank will not budge on this saying that even though they have received a payment every month, two of them were received in the same cycle, that the next payment was late. This company had a customer who made every effort to make his payments early how do they treat the ones who do make late payments? The moral of the story is do not make a payment until you receive your statement because even if your intent was to pay over 30 days early, in there eyes, you are late and refuse to make it right for a good customer.
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trmn8r on 12/20/2010:
Here is the root cause of the problem:
"if you make two separate payments within a payment cycle they consider both as payment for that cycle"

Though it does not affect me, I am aware of this policy and I believe it is common with banks. It sounds like you are making partial payments each month. Food for thought - if you pay the balance each month, your interest rate would be zero.
tnchuck100 on 12/20/2010:
Today's financial world is a jungle. Processing is all done by computers which follow exact algorithms. They are oblivious to your intent. Everything revolves around billing cycles.

Sounds like you have a handle on the process now. Hopefully your post with help others avoid the same pitfall.
momsey on 12/20/2010:
They can't read your mind. I and a lot of other people make multiple payments in one month to be applied to the current billing cycle. I am cognizant of the billing cycles and I know when bills are due and I make sure that my payment is applied properly.

The bank probably thought you were just making an additional payment in that month. It would be nice if they waived the penalties for the first time it happened, but they're probably not in the business of being nice.
Venice09 on 12/20/2010:
Call me old-fashioned, but this is why I like paper statements. I get the bill, tear off the coupon thing and send in my payment on time, once a month. I've been doing it that way my entire life with no mishaps. It's well worth the price of a stamp.
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Orchard Bank Has Been Nothing But Good To Me
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I have two credit cards with Orchard Bank one has a 5000 and one 6050 I have there premium platinum cards and 2 percent cash back on each . They have been nothing but good to me I keep getting an increase bout every six months and I have no annual fee. I can't ever complain about them they have been nothing but good to me . I would recommend this bank to anyone I started these limits both and worked my way up over the last year or so .

I just basically paid the balances off pretty much every month I would give the thumbs up to this bank they are great.

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Very Pleased With Orchard Bank
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LAWRENCEVILLE, GEORGIA -- We have been active account holders with Orchard Bank, for 3 months and are very happy thus far.

Our brother-in-law referred us to Orchard Bank, as we were looking to rebuild our credit. He too is also very pleased with Orchard Bank and how it has helped rebuild his credit.

We pay our cards off in full before the due date, each month and don't have any problems making the payment. We have never had any issues with payments made or payments never posting.

With paying our balance in full each month, we have yet to be charged interest on our cards. We have already received a CL increase.

This card is only for those who are honestly looking to rebuild or establish credit. You do pay an annual fee, depending on your credit will determine how much, but most cards you find these days, you will pay a fee. The more you pay on time, the more you will be rewarded from Orchard Bank and you will also find a positive account on your credit reports.
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madconsumer on 11/30/2008:
great review.

very helpful.
lolasmommy on 06/30/2009:
This is a follow up to the review which I wrote above, in regards to Orchard Bank. It's been almost a year, since we received our Orchard Bank cards and we are still very pleased with Orchard Bank. Our credit scores have both increased from the low 600's, to the low 700's.
We keep our balances within the 30% total limit and never go over. If we cannot afford to pay the full amount off when the bill comes due, we always pay more than double the minimum payment Orchard Bank bills us for.
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Orchard Holding Payment
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ILLINOIS -- I have had this card for three years. I recently set the card up to automatically withdraw funds from my checking account. I then set up bills to withdraw funds from the credit card.

They decided, out of the blue, for no reason that they can disclose to hold my funds for up to 14 days. The funds have left my bank account and are now sitting in limbo (I feel in their bank drawing interest) until they "verify funds."
It was an electronic payment, so they actually have the verification or my bank wouldn't have OK'd the funds to begin with. Not one customer service agent can explain to me WHY they have held THREE payments in the amount of 150.00.

There is to be another automatic payment in 5 days... wonder if they'll decide to hold that too.
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tnchuck100 on 03/01/2008:
Allowing anyone to automatically debit your bank account is a major mistake. It will eventually cause you grief.

YOU manually send a payment from your bank to the credit card company. That way YOU maintain control of how much is paid and when.
PleasedAsPunch on 03/01/2008:
I agree w/tnchuck100! I pay my bills online, but I have never and will never set up automatic payments. I want to always be in control of my money.
My Suggestion is to rearrange your methods of electronic payments. Why are using the credit card int he first place? It's like creating a "middle man". Keep the Middle man out of it and make it simple.
Principissa on 03/01/2008:
I agree with chuck. Never ever let a company have access to your bank account. It is essentially giving them rule free access to your money whenever you want it. Just because you tell them to take X amount of money out of your account doesn't mean they will. My suggestion is to cancel the automatic payments and just send a payment through the mail or online. It will save you a lot of headaches in the future.
yoke on 03/01/2008:
If you send it by mail send it so they have to sign for it, that way you will know when they received it and they can't post it as late.
Cryren on 03/02/2008:
I keep an eye on it. I do it this way to help my credit.
The issue is not the recurring payments.
The issue is that they feel they can hold my payment, MY MONEY for 2 weeks without notification and without reason. My method of paying them is not of concern here.
route36 on 05/09/2008:
I have a similar problem. It is very frustrating because they pull the money out of your account and just hold it for 2 weeks. I am wondering if they are charging me interest on the balance that the payment was paying off. I expect it is a way for them to build up huge revenues in interest and to make their assets look better so they can issue more cards to suckers like us.
tricky0ff on 12/30/2010:
Seriously people, you just aren't getting the point of this post are you? I made an EFT payment last week on my Orchard Credit card. I don't have it set up to automatically pay because it's a new account and I don't do that anyway but really, they post your payment and then they post a pending debit transaction for $1 less than your payment so that it looks like you haven't really paid anything. They leave this pending transaction on your account for 14 days regardless if they have received your money or not, which they most likely have, so that when the billing cycle is over, they can not only charge you interest even though you have paid them but also you cannot use the card and in my case, I had a 300 limit, I used and paid off $243 and now the money just sits there and the card is useless and it's not going to help rebuild my credit as they claim because even though it's paid off, it's showing that there is a $242 pending charge on the account so when they report to the credit agencies, it's going to show that I'm almost at my limit when I'm not. Sorry folks but that is a scam in my book. I didn't want or need a credit card but only got this one to help improve my credit but I'm closing this card ASAP. And they claim it was all in black and white in the card membership agreement but they say that if you have a history of non sufficient funds (which I do not) they will hold your payment to make sure your bank releases the funds. Well my bank released the funds days ago!
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