"Orchard Bank Also 1 Year"

Orchard Bank® Platinum Visa® Review
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Written by: arod on 2008-11-03

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arod's review: Callout Comment I had Orchard Bank for a year as well as Household bank and are all part of HSBC

Well lets start with Household Bank 3 months ago I called to get a credit line increase and they said they can only give me $100 for a $45 fee I said this is crazy and he remind me of the annual fee that was coming soon well I closed it.

Today I called Orchard Bank and I wanted to remove the annual fee of $39 for December they said the card comes with this fee.

So you know... I closed it.

I have good credit with Citibank,Capital one, Amex, Hooters card, Juniper Bank, Discover card, Kay jewelers plus target and 2 HSBC CARD... So trust me I don't need them and I think I have much.

But I want to say this bank didn't work with me but its a great bank to fix credit but don't expect credit line increase and they live for there annual fee.

Anyway I hope this help others also for credit repair consider Capital One or Hooters they are better !!!

Thanks, Take Care all ----And Vote Tomorrow ---



Comment 1 by colonative
ARod User Icon on 2008-11-03

Remarks Where have you been?

I agree with your decision. If you have Citi then you don't need this card anymore. If it didn't have an annual fee I would has sock drawered it.

Their loss!
Comment 2 by arod
ColoNative User Icon on 2008-11-03

Remarks Thanks,

I just been lost at work but I always check FG. I like to read other people experience with credit.

Thanks for asking and take care,

Comment 3 by meya
Nice Posting User Icon on 2008-11-03

Remarks You showed them a thing or two, not only that, I hope a lot of others will take this into consideration also. This will be the same reason why I am leaving next year. Hey HSBC! Thanks, but not thanks!
Comment 4 by cabana7
Not A Good Choice User Icon on 2008-11-04

Remarks Pass on this card there are better choices out there.

Fees are too high...
Comment 5 by thomas1
HSBC User Icon on 2008-11-04

Remarks HSBC knows what it is doing when they issue these accounts, even to help people obtain credit to rebuild.

The problem here is, they get those who think its going to take years to rebuild and have any kind of descent score to go anywhere else, and make it harder to close it.

They have even tried to remind people who go to close that this is going to hurt their scores, and in fact, that is true if you have been with them for years

The longer that tradeline is on the reports, it will pull down the score somewhat, but what you did is smart

I am about to close mine also, as I don't need it anymore.
Comment 6 by yoyo11
Hey.. User Icon on 2008-11-04

Remarks Good review ARod
Comment 7 by hjm331
RE: ARod User Icon on 2008-11-04

Remarks You just proved my point when I said that HSBC was only good for building credit and you shouldn't expect too many increases from them.

However, this is GREAT card when compared to cards like First Premier Bank, Tribute, etc.

You did the right thing by closing it since you have better cards. Keep up the good work.
Comment 8 by arod
THANK YOU User Icon on 2008-11-04

Remarks I Thank you all for your feed back and you guys also do a great job here as we all learn how to fix and establish good credit.

Thank you,

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