Orchard Bank Mastercard - Interest Skyrockets!

[poorme]

Just a word to everyone who may consider applying for National City unsecured card - don't try if you have an open tax lien. They will deny you and cite 'bank policy'. If you have a lien that's paid or can show proof of settlement or active payment agreement they will allow...but generally deny on any open tax lien. I confirmed this in conversation with a NCB branch mgr today.

[tinroofrusted]

I have an Orchard card myself and have been hearing rumors...

Apparently they raise the interest rate on EVERYONE.... even if you were to have an 850 credit score, your interest rate is going up to 29.9% at some point. No matter what your payment history or anything else.

I have also heard rumors that they are being investigated currently on this policy for being a "predatory lender." It remains to be seen what's actually going to come of it though!

We'll see what happens. I have them completely paid off now, and won't be touching those cards. I am hoping that eventually I will start getting better ones with higher interest offers coming to me. We'll see what happens!

[sfbehr]

Hi
Highndry,
will MerrickBank still give you a secure credit account even if you have filed BK? I know Bank of AMerica won't give you a secure account with them if you have filed BK in the past. Which I think is so stupid! That's what you need the card for to establish credit. I have a First Premier and thinking about getting Orchard. I was turned down for the Hooters Card. So if I can get a MerrickBank card that would be great. ALso do they report as secure on credit report?

Merrick actually does offer unsecured cards to people who've filed BK, but I believe they only do so by written preapprovals. So if you're not "opted in" to receive preapproved solicitations, you won't probably hear from them.

[Rick2203]

Merrick now only offers cards thru pre-approvals now.

[Kam]

My interest rate jumped too! And, I just received notification that I had gone over my credit limit when they added their yearly fee! My initial fee to open the account was $39.00 and now the yearly fee is $59.00! Of COURSE they wait until after the billing cycle and before I had a chance to make a payment to tack on the yearly fee and the over the limit fee! GRRRR! I am going to call them tonight to complain about it.

[BK'd-Betty]

I read about this on another forum! Same situation - evidently, they put a notice on your last statement up near the top in teeny weenie little letters that's really easy to miss - notifying you of the AF being charged the next month. Then when you call them they say "we notified you on your last statement" and tell you exactly where to find it.

Tricky! LOL

My interest rate jumped too! And, I just received notification that I had gone over my credit limit when they added their yearly fee! My initial fee to open the account was $39.00 and now the yearly fee is $59.00! Of COURSE they wait until after the billing cycle and before I had a chance to make a payment to tack on the yearly fee and the over the limit fee! GRRRR! I am going to call them tonight to complain about it.

[SinkingFast]

Reading this,.............

I really DO NOT miss CC bills at all!!

[BK'd-Betty]

I'm with ya girlfriend!

Reading this,.............

I really DO NOT miss CC bills at all!!