Why I hate Orchard Bank

I hate Orchard Bank. I will never do business with them again.
To make a really long story shorter, I got a credit card with them in 2003. Everything was hunky dory until they jacked up my interest rate to 29% without informing me of it first. I had 3 credit cards at the time and all 3 went up to 29%. Can you guess when that was? Yep, during the bank failing crap of 2008/2009. So my manageable minimum payments skyrockted, previously I was making double the minimum payment in order to pay down my balance.

I then found myself in the situation that many people have been in; I could not pay all of my bills AND pay my credit cards. Yes I realize this is my fault, and they are under no obligation to help me, but it would be in their best interests if they did.  I considered several options, CCCS, just not paying them, and getting a loan to pay off the cards. I firmly believe in paying my debts so after trying to pay the cards for a few months, and failing I got a loan to pay off almost all of my cards. I closed all but one - Orchard. I had had the card the longest of the 3 and that was the account I wanted to keep open.

So I kept making payments, and did ok for a few more months but *stuff* happened (as it is apt to do) and I got into a situation where I was again having a problem paying the bill. I called Orchard and they told me they could drop my rate to 9.0%! Happy day! Oh but wait, they would be closing my account. Wait! What? So in order to get any help from them they were going to close my account. Ok, I can deal with that. It's the best option I have.

Then they said it would only be on 9.0% for 6 months. Ummmm this deal isn't sounding as good as it first did. I still agreed to it there was no way I was going to be able to pay off the balance in 6 months.  They assured me I could extend this "Hardship" program for another 6 months when the first 6 months expired. "Ok", I thought, "I can handle that." And I did. I paid, much more than the minimum due each month. All during this time they called me, the e-mailed me, they snail mailed me advertisements to open up ANOTHER card with them. Wow.

So the 6 months expired on 01/01/11 and guess what, when I called to extend the "Hardship" program they said no. I in turn said, if you do not extend this you will not get another red cent from me. The rep informed me that I could call a credit counseling service. Clearly we were not communicating on the same plane. I then told her that I find it fascinating that they would rather get NO money from me than to lower the interest and get a little LESS money. She continued babbling about credit counseling. I hung up.

This is just one instance of why I hate the EPIC fail that is Orchard Bank. I could go on but why? Needless to say I will be calling their executive customer service line which is 1-888-890-4204 to complain about this. Although I doubt it will do any good.