I have had a fairly high balance with Orchard for a while. Every month I make a payment and every month they immediately credit the payment. Suddenly, when I made a payment of over half of my balance, they held the payment for 14 days and reported a higher balance to the credit bureau than it would have been had they not held my payment. Months go by, I make smaller payments, they credit them immediately. Then I paid off my balance entirely, they held the payment 14 days and reported to the CRA that I am over limit without acknowleding that I paid off the balance ten days before. What this does is keep my FICO low so that I do not get offers from other credit card companies and am forced to stay with them. I've filed a complaint with the FTC, this is an illegal practive. Orchard bank will also lose at the game because now I will not use the card again and I will not close my account which will mean I will use them to raise my FICO score. They got me twice but they won't get me again.
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