Why is Orchad Bank so stingy with their credit line increase? I had their Mastercard for 7 months never late never over the credit limit and they gave me a $100.00 increase. I called and ask the rep how is it base of the amount that you get the only thing he could tell me was the computer generate the increase. I will stick with Providian they are verrry generous. I had their card for 1 year and I am over $3000.00. Did anybody else get more of an increase with Orchard, if so share . Thanks
YOU THINK ORCHARD IS STINGY...TRY HAVING $30,000-$40,000 OF PURCHASES (EVERY YEAR) ON DISCOVERCARD AND BE DENIED AND AUTOMATIC INCREASE. I have the opportunity to "apply" for an increase.
Hang in there. Orchard's a good company. When I had my MC, my first increase was $100 after 6 months. The next one was $200 after 12 months, $400 after 18, then $500, $200, $300. I topped out at $2K, then closed the account because of the annual fee. You're right about Providian's increases - went from $1000 to $4000+ in 18 months.
Orchard is fairly conservative but pretty regular about increases. You just have to establish with them. I have two cards, a visa opened in '96 and a mastercard opened in '98. Perfect payment record. I just received an increase of $250 on the visa and $300 on the mastercard. The current limits are $4700 and $1900. The accounts are reviewed every three months. The interest rate is 16.4 for purchases and cash advances. No annual fee. I have kept these cards even though I have finished credit rebuilding.
Check Your Interest Rate My daughter just got an automatic increase of $100 on one of her Orchard cards. She received her statement the same day and found they had raised her interest rate from 18.9 to 19.8. That wasn't a free increase!
I am closing my Orchard account when I pay off the balance ($130). I have had that card for a year and a half and have not received an increase. The card is not secured. I got it through Ballys, I transferred my membership fees to it. I was over once by $4, but that was because the charge so much interest its ridiculous. That card is gone as of January.
RE: Oh Yeah They also sent me two deniel letters for that request. One said that it was because of my payment history and the other said that my type of account wasn't eligible for increases. OK which one is it?? Well, in the meantime I was approved for Citibank $2000 limit. I don't care about Orchard anymore.
