how bad will this hurt me?

Discussion in 'Credit Talk' started by peeper, Jan 7, 2001.

  1. peeper

    peeper Guest

    I paid my orchard bank credit card payment online and my bank just informed me the payment bounced.How bad is this for me besides the usual fees?
  2. sam

    sam Well-Known Member

    In most cases, this is grounds for not getting the first credit increase.

    I dont have orchard, but capitalone told me bouncing a check will cost your 6 months.. (in credit increase times)
  3. lee

    lee Guest

    Well you could get reported to chex system for bouncing a check,unless you have a good relationship with your bank they may excuse you if you are up front with them about why you have bounced the check.But here is the one you want to pay close attention to,and that is most lenders will up your interest over a bounced may want to read your cc agreement,and see if they have that stated in their terms of agreement.If so you should call your creditor,and explain what happened about the check being return unpaid.
  4. miles

    miles Well-Known Member

    You should also check with your bank to find out whether the check will be sent through a second time (banks usually do this). If so, you can make sure to funds are in your account before it comes through again. You will be charged a fee by your bank(insufficient funds), but I don't think Orchard will consider it a returned check until their bank informs them of insufficient funds. Good luck!
  5. river

    river Well-Known Member

    This should tell you that something is wrong with your bookkeeping.You need to re-evaluate your system of tracking your money.@!#$ happens guy,but you need to go to your bank and open savings account or if you have one already and use that for "bounce protection".I have this at BofA. When something like this happens again,the bank will auto transfer funds with a fee of $5.00 here.Check with your bank for a program like this. This is called"cover your ass".Be wiser with your finances.
  6. sam

    sam Well-Known Member

    not to be critical, but bouncing a check at orchard bank is kinda like a recovering alcoholic having just one beer.
  7. dave

    dave Well-Known Member

    The best thing to do is call Orchard before they find out about the bounced check and let them know it happened. Ask them to put it through again. You probably won't be charged a late fee if you do that. Unless something has changed recently, I don't think Orchard will charge a fee unless they don't get the payment before the statement closing date. You might want to ask about that when you call.
  8. roni

    roni Well-Known Member

    Orchard is extremely stingy...

    They dont like to give increases even when you have perfect payment history with them. I wouldnot expect an increase until 6 months or more likely 9 months later. Sorry.


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