Orchard Going Prime with Upgrades

My Orchard account is one year old and I was told by a supervisor my account had a chance to go prime with the upgrades to Orchard's system coming in the fall, around October to December. At that time their prime upgrades will be 2 to 9 percent apr's., no annual fees, and higher limits. I would tell you the name of the people I confirmed this with but I won't because you can call retention and ask anyone who answers.

I don't know the criteria to go prime because retention doesn't know or wouldn't say, but they did say that my account would qualify, because I have paid off my account every month in full - except two - and my internal behavior score was very high. So anyone who is in good standing would most likely qualify for the upgrades.

BTW, I was advised NOT to take the lower apr retention offered to me last week, which was 15.9 - but take the $500 increase and wait a few months. This was not, in my opinion, the bank trying to make more money off of me, because I do pay the balance off almost every month. Rather, I was told that I would be an excellent candidate for what retention could offer to me in the way of upgrades, including retroactive fee waivers, an apr under 10 percent, and higher limits.

Just thought the board would like to know If you do know, pardon the intrusion.

 

Dave -

The upgrades are coming this fall and will run through April. I was told this information in several phone calls from different people in retention and customer service. Their computer systems are being upgraded now with new information and packages that they can offer their existing customers. By packages I mean some kind of flexibility is going to be online for retention and/or customer service to add entire upgrades or partial upgrades. Also, solicitions for upgrades will go out to target customers, low risk, who qualify. That will happen in the fall - most likely starting in November or December - and continue to April.

I swear this information is accurate in terms of what I have been told as of Monday. I have verified it with different reps as I stated above. Don't hold me responsible if they change their minds. Like I said before, retention almost pleaded with me to take the credit line increase instead of the 15.9 apr, stating that most likely a prime apr under 10 percent was coming down soon that could be offered to me, along with balance transfer options, no annual fees, and even higher limits.

BTW, my credit line has gone up $1300 in the last six weeks. My card is one year old. That gives me more optimism, since they are notorious for being stingy and conservative.