Ripped_off!
Joplin,#2Consumer Comment
Mon, February 11, 2008
Yes, many companies charge an "annual" fee for the benefit of using them as credit. It isn't just Orchard, but any credit card company that wants to charge you up-front fees for the privilege of having credit with them. These kinds of cards are predatory, no matter what the small print -- and large print -- promises. If they want you to PAY for credit, avoid them! They target people with marginal credit who can't get a credit card anywhere else. They also charge the highest interest rates in addition to the "annual" fee. There are also many other fees such as very high "over the limit" fees. If you want a credit card, these kinds of cards are the worst possible way to get one. They are only slightly better than "payday loans." These kinds of cards are interested in separating you from as much of your money as possible; they aren't a serious offer of credit in the sense that you are going to pay a reasonable interest rate for credit. I strongly suggest that you get a copy of your credit report from all 3 credit bureaus, then start repairing your credit. Please don't get ripped off again by paying to get your credit reports -- call each credit bureau and request it over the phone if you aren't sure how to get one that's really free. And, don't pay anyone money to repair your credit for you! Repairing your credit the "easy" way is to make timely payments over a long period of time with a company that reports monthly to the big 3 credit bureaus. Search the internet for advice on repairing your credit...many credit counseling websites and consumer websites publish this information on free websites. After you've repaired your credit, you can get a standard card with lower interest rates and no upfront fees.
Paul
Beaverton,#3UPDATE EX-employee responds
Mon, February 11, 2008
Did you read the cardmember agreement? It tells you all the fees that can be charged, it sounds like you are in the 80 to 90% of the people that don't. Don't blame the bank for your stupidity. That is an ANNUAL fee that means it bills once a year as long as you have the card. In the future it is not what you are TOLD but what you receive in WRITING. I hope you learn to read contracts after this.