SecretAgentWoman Posted March 7, 2007 Report Share Posted March 7, 2007 ...to make money off the desperate or ignorant.Got an offer for "Orchard Gold" in the mail and thought - whoa - it was offering 2% cash back on purchases. I thought, wow, they want to upgrade me, I was thrilled!Then I read the fine print (always read the fine print)!"Cash back up to $100 per year...or $5,000 in purchases...." ok, np, I can live with that, can't expect the offer to be too good in my credit category."Your annual membership fee will be $139 per year..." HOLD THE PHONE. I pay $59 now. Up that to $139 and that brings my "cash back" gold goodness only down to $80 - and that's IF I spend $5k on the card in a year."You will have to save all your receipts and send them in at the end of the year to claim your cash back..." What? That's a heck of a lot of trouble, plus the cost of postage. And why wouldn't Orchard already have a record of what I spent?"Gold Card program is not affiliated with Orchard, it's run by a third party..." Oh, that explains the receipts then.NO THANKS.I wonder how many see "Orchard Gold Card invitation" and the $8 check included (cashing it, of course, means you agree to enroll in the program) and sign up without reading. Link to comment Share on other sites More sharing options...
jq26 Posted March 7, 2007 Report Share Posted March 7, 2007 ...to make money off the desperate or ignorant.I wonder how many see "Orchard Gold Card invitation" and the $8 check included (cashing it, of course, means you agree to enroll in the program) and sign up without reading. I too received a similar offer from them months back. My take on Orchard Bank is to use their card to boost your credit enough that you can get out of the card as soon as possible. One time, they flat out told me they NEVER CHARGE for credit line increases so I applied for one. After receiving my CLI, I spotted a $10 CLI fee on my bill two days later (online). I threatened to cancel my card immediately and they removed the charge. After two years of dealing with them, I finally canceled them last month when they refused to waive my $59 fee like they did the previous year (they offered to make it $29). So all in all, the only money they got from me was the $59 that I handed over to them for their card when the card was originally issued right after my BK two years ago. They served their purpose and I gladly gave them the boot as soon as I could. So long Orchard! Link to comment Share on other sites More sharing options...
elyse449 Posted March 7, 2007 Report Share Posted March 7, 2007 Thanks for sharing that!!! Yet another example of how important it is to READ THE FINE PRINT! Thanks again!!Elyse Link to comment Share on other sites More sharing options...
IHateCAs Posted March 7, 2007 Report Share Posted March 7, 2007 I've said it before and I'll say it again. Skip the Orchard card when you're rebuilding. Link to comment Share on other sites More sharing options...
tarbaby Posted March 7, 2007 Report Share Posted March 7, 2007 I've said it before and I'll say it again. Skip the Orchard card when you're rebuilding.Now ya tell me. Link to comment Share on other sites More sharing options...
lyle7289 Posted March 7, 2007 Report Share Posted March 7, 2007 Now ya tell me. I'm hip..... Link to comment Share on other sites More sharing options...
SecretAgentWoman Posted March 7, 2007 Author Report Share Posted March 7, 2007 I've said it before and I'll say it again. Skip the Orchard card when you're rebuilding.Ok, what's your recommendation for a secured card then? Because my bank don't offer one, the local credit union doesn't offer one, and I SURE as hell ain't going to First Premier, etc. And I don't have 2 years to wait until I can get an unsecured starter card. Link to comment Share on other sites More sharing options...
jq26 Posted March 7, 2007 Report Share Posted March 7, 2007 Because my bank don't offer one, the local credit union doesn't offer one, and I SURE as hell ain't going to First Premier, etc. And I don't have 2 years to wait until I can get an unsecured starter card.IMO, Orchard Bank isn't a bad way to go. They are the least shady and least expensive of the few options out there. Like I said, total cost to me was $59 for 24 months of a good first unsecured tradeline right after a BK7. Above all, watch these subprime outfits like a hawk (read everything!). And when your credit gets repaired enough to get some half decent tradelines, cut the crap cards loose if they are costing you any money at all. If they're free, then sockdrawer 'em! Link to comment Share on other sites More sharing options...
elyse449 Posted March 7, 2007 Report Share Posted March 7, 2007 I've said it before and I'll say it again. Skip the Orchard card when you're rebuilding.Than who else would you recommend?? There wasn't any other credit card issuer willing to accept me, so where else would you recommend I go? Shall I wait until my credit score is 800 then? Also, it's my job to KNOW what I'm getting into...I can't refuse to become informed and than WHINE when I get screwed over. Just my 2 cents.Elyse Link to comment Share on other sites More sharing options...
jq26 Posted March 7, 2007 Report Share Posted March 7, 2007 Also, it's my job to KNOW what I'm getting into...I can't refuse to become informed and than WHINE when I get screwed over. Just my 2 cents.If everyone saw the world the way you do, it would be a much better place! There are many people that do just that. Just wait about six months before the subprime mortgagees start suing lenders for losses incurred when they took out exotic mortgages and purchased homes they couldn't afford. Its coming...In any case, in some areas, credit unions are in abundance. IMO, they are the best choice if you have access to them. I'm not sure there is one best answer out there. Link to comment Share on other sites More sharing options...
tarbaby Posted March 7, 2007 Report Share Posted March 7, 2007 I'm hip.....++guess we have to visit the dark side when OT isn't letting us post eh Link to comment Share on other sites More sharing options...
lyle7289 Posted March 7, 2007 Report Share Posted March 7, 2007 I have not a bad thing to say about Orchard as of yet. I have had them approx a year and they have been good. They have allowed my to move onto bigger and better things in my credit repair journey. Because of that card, I was able to show a positive TL that allowed me to get several unsecured cards with respectable limits including a CU visa, hooters, JCP card, and a US airways card. I do not have a balance on that card now and it sits in my wallet collecting dust. I used it a stepping stone to get a stonger credit history. My credit is still in the repairing process, don't get me wrong, but it is now a lot stronger, I believe, due to that "first" card.It goes without saying that if credit is used wisely it can be a wonderful thing. Orchard Bank, by far, charges way to much. Annual fees, sub prime APR's, etc. I weighed all of that when i applied and I am glad I chose to get it as I was in the position to handle those charges and the good has out weighed the bad 10 to 1.This of course is IMHO........ Link to comment Share on other sites More sharing options...
newbie7069 Posted March 7, 2007 Report Share Posted March 7, 2007 ++guess we have to visit the dark side when OT isn't letting us post eh HAHA! I was posting just to see if it would let me post anywhere else.I guess you answered my question Link to comment Share on other sites More sharing options...
lyle7289 Posted March 7, 2007 Report Share Posted March 7, 2007 you guys feenin' or what?? Link to comment Share on other sites More sharing options...
elyse449 Posted March 7, 2007 Report Share Posted March 7, 2007 If everyone saw the world the way you do, it would be a much better place! There are many people that do just that. Just wait about six months before the subprime mortgagees start suing lenders for losses incurred when they took out exotic mortgages and purchased homes they couldn't afford. Its coming...In any case, in some areas, credit unions are in abundance. IMO, they are the best choice if you have access to them. I'm not sure there is one best answer out there.Kinda like what I'm going through w/ my ARM mortgage. I *knew* that sucker was going to expire...I just didn't plan ahead, so this is all on me and if I can't get a refi, losing my home will ALSO be my doing. I don't mind being accountable for bad choices. Sorry...didn't mean to "jack" but someone mentioned how Orchard is not adviseable and we were discussing that, not really thread jacking IMHO, but oh well. I have liked Orchard, but than I also accept that I got myself here credit wise and so working my way back will mean much perseverance and NOT qualifying for those "better" cards. Elyse Link to comment Share on other sites More sharing options...
TxStorm Posted March 8, 2007 Report Share Posted March 8, 2007 I've said it before and I'll say it again. Skip the Orchard card when you're rebuilding.Done!I didn't care for having to shell out $200+ up front for a card anyways. Link to comment Share on other sites More sharing options...
TxStorm Posted March 8, 2007 Report Share Posted March 8, 2007 It goes without saying that if credit is used wisely it can be a wonderful thing. Orchard Bank, by far, charges way to much. Annual fees, sub prime APR's, etc. I weighed all of that when i applied and I am glad I chose to get it as I was in the position to handle those charges and the good has out weighed the bad 10 to 1.Great way to look at it! Link to comment Share on other sites More sharing options...
cavazos007 Posted March 8, 2007 Report Share Posted March 8, 2007 Yeah I got the same offer in the mail...I trashed it! Link to comment Share on other sites More sharing options...
J_Snow Posted March 8, 2007 Report Share Posted March 8, 2007 Just like ice cream... not every flavor is for every one..Orchard may be just what some need and not fit into the situation of another.To each his own! Link to comment Share on other sites More sharing options...
direred Posted March 10, 2007 Report Share Posted March 10, 2007 Than who else would you recommend?? There wasn't any other credit card issuer willing to accept me, so where else would you recommend I go? Shall I wait until my credit score is 800 then? Also, it's my job to KNOW what I'm getting into...I can't refuse to become informed and than WHINE when I get screwed over. Just my 2 cents.National City Secured would be my first choice. Elan secured is another fine one. Link to comment Share on other sites More sharing options...
jq26 Posted March 10, 2007 Report Share Posted March 10, 2007 Elan secured is another fine one.Elan secured was my first and only secured card (originally it was American Pacific Bank). Found it through a recommendation through this site. Very nice customer service and all fees totaled $19 (or maybe it was $39?) for the year that I had their card. And it reported every month to all three. Link to comment Share on other sites More sharing options...
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