Orchard Bank?

Question

I have a credit card with Orchard Bank . They swiped my payments back in January through my savings which I had $0 in. Making the payments return now the balnce is $754.00 and the payment is $109.00. I am thinking about canceling it ... I don't know I mean it isn't my fault . My mom thinks I should pay the $109 ... I don't.

Answer 1

You may cancel the card but you're still liable for the payment. Just pay up and cancel the card.

Answer 2

1) Call and discuss this with the bank. They often will reduce the penalty when you talk to them.

2) Look for a lower rate credit card that will let you transfer the balance from Orchard. But be careful that there is not a transfer fee.

3) Or pay the $109.

(Note: You don't make it clear when you say "They swiped my payments. Were you past due? Is the $109 a late penalty?)

Answer 3

Personally, I would pay it off and get away from Orchard Bank.

If you can afford it make it your top goal to pay this thing off asap and get out of debt with these vultures.

Furthermore, don't use the card for anything else. If you can't pay cash for something, don't buy it.

Answer 4

did they have the authorization from you to take the $$ from your savings? i have an orchard bank card too....and every time i pay my bill online, i have the option of having it taken from my checking of savings......it sounds like a mistake on your part, you have to pay your bill even if you cancel it! sucks, but you learn from your mistakes!

Answer 5

You can cancel the card but you are still liable for the amount owed. $754.00 is not worth ruining your credit over.

Answer 6

If you owe the money,you are obligated to pay.Your mom is right.Don't ruin your credit!!