I have been dealing with them for the past 2 months and so far so good. I have a silver card by them. I pay my bill in full online in a week advance from the due date in fact i am going to pay part of it 2 weeks ahead. How long does it take 2 have them lower your APR,which is 15.85%? Also how long does it normally take for them to increase ur limit mines is $300.00 as of right now. Lastly, has anybody had any disputes with this company?
2006-07-14 12:18:21 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
You have only had the card for 2 months. Getting your interest reduced or asking for a credit increase, won't happen any time soon. You may(?) get a credit increase without asking in 4 or 6 months. They like to see 'at least' 4 to 6 months history between each credit limit increase.
Keep in mind, the Silver is a credit builder/rebuilder type of card and is not a prime card. So don't expect much with it. If you are paying a yearly fee, request that they eliminate the fee when the fee becomes due next year.
If you keep that card in good standing and have other good credit, you may be able to eventually start getting prime cards.
Once you start getting prime cards and near the time when your yearly fee becomes due, if Orchard won't drop the fee, raise your limit or work on lowering your interest, tell them that you are going to close the account if they don't at least drop the yearly fee.
As long as you don't have the yearly fee, you can throw that card into your sock drawer and just let it sit. It will help your scores by gaining history.
Just be sure that you have already included some prime cards before you decide to close it. Since closing it will have a negative impact on your scores for awhile.
The most I have seen people complain about Orchard is that they do not grow with the person like a prime card company does.
2006-07-14 17:55:09 · answer #1 · answered by echo 7 · 4⤊ 0⤋
Orchard Bank is a great card. My fiance has had two credit increases in the last six months (she asked for them). Yes, they are higher interest, but they offer no fee cards. They are dealing with high risk folks. If you pay the balance off each month than interest does not apply anyway.
Last month Jennifer went over her credit limit and was charged an over limit fee. We were able to get that fee reversed as we had a payment on the way. I have never had trouble getting a real person on the phone.
If there is a down side, it's their persistence to sell you additional services.
2006-07-14 22:03:30 · answer #2 · answered by David H 3 · 1⤊ 0⤋
I had them when my credit sucked. They were great. They increased my credit limit periodically (maybe every 8 months). After my score went up (partly because the bad things on my report dropped off), I got a 0% interest card from my bank and transferred the balance.
I never had a dispute with them, they were very good; although, it's very difficult to speak with a live person. They never reduced my APR, which was high. I paid them off every month, until I applied for the bank card. I made an expensive purchase and transferred the balance when I got the new card.
2006-07-14 20:53:28 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes, Most cards offer an interest-free period, meaning you can benefit from free, short-term credit if you clear your balance in full by the due date. They offer flexibility and convenience, allowing you to make emergency purchases or pay for more expensive items by instalments. Interest rates for withdrawing cash are usually significantly higher than for balance transfers or purchases and there's no interest-free period, meaning interest is charged from the date of the withdrawal, regardless of whether you clear your balance in full or not.
2014-09-22 21:24:03 · answer #4 · answered by Arvind 2 · 7⤊ 0⤋
No,
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http://www.askaquery.com/Answers/qn1579.html
2006-07-14 19:50:36 · answer #5 · answered by Jelly I 2 · 0⤊ 0⤋
Been with them for 5 months or so. Pay in full each month, have had no problems and I have the same questions as you.
2006-07-14 19:25:52 · answer #6 · answered by philmnt 2 · 0⤊ 0⤋
i have the visa & i like the company. i haven't had any disputes with them & hopefully i won't. not sure about time frame for lowering the APR or increases.
2006-07-15 00:40:04 · answer #7 · answered by coco_la 3 · 0⤊ 0⤋
i do not like this company as they are not easy to work with and do not lower your APR as stated and it takes forever for them to raise your limit no matter what you do or don't do
2006-07-14 19:22:36 · answer #8 · answered by Code3EMT 2 · 0⤊ 0⤋
I just got a credit card wtih them too! i'm paying my first bill today actually!
No problems yet.
2006-07-14 19:22:30 · answer #9 · answered by ohprettybud 2 · 0⤊ 0⤋