Complaint Review: Orchard Bank - HSBC - Schaumburg Illinois

Sounds exactly like my situation. The only difference.....the excuse they gave me was a change in my credit report. The only change that has occurred is my score is about 30 points higher than it was 2 years ago. Looks like a little creative "fuzzy math" to me, and just a n excuse to try to get more money out of someone with PAST credit issues that are being resolved. I have learned my lesson with these bottom-feeders and have decided NO MORE. I am gaining more power the higher my score goes, and I will get a better card with a better rate. Your loss Orchard and HSBC.

Sounds exactly like my situation. The only difference.....the excuse they gave me was a change in my credit report. The only change that has occurred is my score is about 30 points higher than it was 2 years ago. Looks like a little creative "fuzzy math" to me, and just a n excuse to try to get more money out of someone with PAST credit issues that are being resolved. I have learned my lesson with these bottom-feeders and have decided NO MORE. I am gaining more power the higher my score goes, and I will get a better card with a better rate. Your loss Orchard and HSBC.

Sounds exactly like my situation. The only difference.....the excuse they gave me was a change in my credit report. The only change that has occurred is my score is about 30 points higher than it was 2 years ago. Looks like a little creative "fuzzy math" to me, and just a n excuse to try to get more money out of someone with PAST credit issues that are being resolved. I have learned my lesson with these bottom-feeders and have decided NO MORE. I am gaining more power the higher my score goes, and I will get a better card with a better rate. Your loss Orchard and HSBC.

Sounds exactly like my situation. The only difference.....the excuse they gave me was a change in my credit report. The only change that has occurred is my score is about 30 points higher than it was 2 years ago. Looks like a little creative "fuzzy math" to me, and just a n excuse to try to get more money out of someone with PAST credit issues that are being resolved. I have learned my lesson with these bottom-feeders and have decided NO MORE. I am gaining more power the higher my score goes, and I will get a better card with a better rate. Your loss Orchard and HSBC.

In response to Fighting Backs experience. I also have been an Orchard customer for over 3yrs now with a flawless, never late or overlimit payment history. I received in the mail a "Notice of Change in Terms". I have a solid understanding of credit and how it works, but this notice was written in such legalize I had to call thru to customer service. This was the first and only time I ever had to pick up the phone on either of my two Orchard Bank accounts and the customer service was rotten. I had to escalate to an "Account specialist" before I was given a definitive number as to what this new APR would be. Finally the representative told me that my current 14.90% rate was increasing to a whopping 24.99%. Of course my next question was WHY? I was told that a letter would be mailed to me with an explanation and that I should have this letter in hand within 14 business days. I pressed for specifics until I was finally told that because my balance with orchard was 50% or more of my available credit line with them. Now, correct me if I am wrong but if the creditor sets a credit limit, then the consumer can utilize that full line of credit up to "the limit" So how is that justification to jack up my rate if I am not in default of my agreement. Moreover, my credit line over the life of my account has been raised by Orchard bank given my history of timely payments and responsible use of my account. Seem like a contradiction to anyone reading this? I was ultimately given an address by a supervisor to contact the Executive Resolutions Unit. I was instructed to write my complaint and send it in, but there was nothing anyone could do. I was refused a phone number or any information that would hold anyone I spoke to accountable. Remember I said this was my first and only experience with the customer service of Orchard Bank in my 3yr account history? Well it was also my last. I will close both of my accounts and never transact business with them again. I'm voting with my feet on this one. Sad thing is when I explained this to the supervisor on the phone I received a couldn't care any less attitude.