NEVADA -- These people will steal your mother if you're not careful. I have never seen such blatant disregard for a consumer in my life. I make a payment and they pull the money out of my account and hold the payment for 2 weeks. If a merchant charges the card incorrectly or the charge is considered a cash withdrawal there is an automatic $5.00 fee just for the transaction, not to mention an escalated interest rate. If they really want to help consumers then they should consider outlining the pitfalls of this card.
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. Citibank 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.
HUNTINGTON, NEW YORK -- About a year and a half ago, I applied for an Orchard Bank Gold MasterCard and am a very satisfied customer. There was an annual fee of $39.00, but for that I received 0% for a year and after that an APR of 12.9%. At the end of the year, they gave me a credit limit increase and since I had paid on time, pre-approved me for a second card, the Orchard Bank Platinum Visa. This card had an annual fee of $29.00, but came with a 0% APR for 18 months and then a regular APR of 11.9% locked thereafter.
I kept the Gold Master Card opened and still received great offers for 0% on balance transfers regularly (twice in the past four months). The customer service is excellent and aside from the annual fees (which are minimal) I have never had to pay a penny for interest on purchases in the year and a half I've been with them. I highly recommend doing business with this company. I'm very satisfied!
NEW YORK, NEW YORK -- On January 22nd I received my credit card statement with a $69.00 annual fee. I called Customer Service and told them to close my account immediately due to not wanting to pay such an outrageous annual fee (especially for a card that was not even gold or platinum). I was told that due to a January 21st charge...that I still had to pay the January 17th annual fee despite my immediately closing the account when I found out on January 22nd.
I explained that I didn't know about the charge on the annual fee on the 17th until I rec'd the statement on the 22nd...or I would have closed the account on that day and not used it on the 21st. Needless to say, the woman I spoke with couldn't care less about my being ripped-off...and insisted that there was nothing that I could do about it.
Does anyone know if this is legal? Does anyone know the name/address for the CEO at Orchard Bank aka HSBC? Would greatly appreciate any assistance or advice. Thanks!