Orchard Bank soliciting me

Discussion in 'Credit Talk' started by mother2, Mar 14, 2001.

  1. mother2

    mother2 Well-Known Member

    for a second card! I told them I had their card and if they were calling me for a Gold card. They told me no, just for a regular MC. After I told them I had their MC, he told me I could have another one.

    What is up with these people? It does make me wonder about how good or bad my credit is??
  2. SEAN

    SEAN Well-Known Member

    Household Bank, which owns Orchard has a policy of allowing customers to carry up to 4 cards. In the near future Household will be implementing a poicy of rolling over good Orchard customers into Household branded cards with a higher credit line and lower APR. This i'm told will be sometime within the next 90 daysin the next 90 days.

  3. mother2

    mother2 Well-Known Member

    So should I close the acct or

    wait until the rollover. $500 credit limit seems a little small to me. With the gas prices these days, I can max out my limit within a month.
  4. RichGuy

    RichGuy Guest

    Orchard Bank

    Just like Capital One, they are offering you an extra account so they can collect an extra annual fee. That's all they care about. They have no intention of offering you a significant amount of credit.

    You have fairly good credit if you get repeat offers from Orchard Bank, but they just see people with fairly good credit as a ready market for their puny subprime cards. Don't expect anything good from their "credit-tease" offers.
  5. dogman

    dogman Well-Known Member

    Re: Orchard Bank

    You are absolutely correct - you Rich Guy ! :)
  6. Ron

    Ron Well-Known Member

    Re: Orchard Bank

    Rich guy, I agree with you and Capital One let you have as may as you like. He collect annual fees from every account that you have. Back in a few days, they approved me their Visa card with $200 and a 39 annual fees. That's how Capital One make a profit from charging annual fees and finance charge. I had that account for a year and closed it because I couldn't use it for anything else. Treat me like college student.

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