I was offered a credit card from a bank called the Orchard bank which I had never heard of. But they promised that the card would "help me rebuild my credit."
They sent me a card with a low limit $300 or $500. But I was distressed that even after years (4) of paying on time, never going over my limit, and handling the account responsibly, they continued to charge a $99 annual fee which I found to be outrageous.
When I called to complain about the fee they said, "Oh, well, you have maintained your account in an eemplary manner so let us just incresae your credit limit by $100 and that will take care of the fee." Little did I know I should have closed the account then and there.
The following year I again tried to challenge the annual fee. I said it made sense when I first started with them and I was an "unknwon quantity, " but there was no good reason to coninue charging me this fee. They repeatedly tried to 'sell" me an increase in my credit limit for $40. I declined because I didn't think I should have to BUY an increase in the limit since I had earend it, paying a relatviely high interest rate and making my payments on time.
In 2003 they sent me a new card and said "you have been a great credit risk, etc etc" and no mention of the annual fee.
But on my next statement, there it was. And since the stupid $99 fee had pushed me over the credit limit, there was an overlimit fee on top of it.
I called the company and said I should not have to pay an overlimit fee since it was their OWN fee and not my spending that had pushed me over the credit limit. They refused to budge so I just closed the account.
The girl kept pressuring me to keep the account open because she said 1) I would still have to pay the annual fee, even though the account was closed, ecause "You didn't close it in time;" and 2) I would now have to pay an additional $3.50 "handling fee" every moth just for the privilege of closing the account!
I really saw red&and they continued to post overlimit fees to the account every month even after it was closed! I called and wrote the OCC (Office of Comptoller of the Currency) but frankly, those people are awful. No matter how scuzzy the bank's behavior is, the OCC always sides with them&or declines in any way to take your side.
I had to send them 2 huge payments—for like $90 and $70—to get them to stop charging me voerlimit fees, and the balance is a bit over $600 now. I am paying them off but I will NEVER go near them again.
Their parent company, the Household Bank, is just as scuzzy and discgusting. NO ONE in Washington will help you fight these banks since all of our legislators are in the banks' pockets. That is the real problem.
So warning: STAY AWAY from Orchard AND Household.
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