I was rate jacked (for no reason) by this bank and wanted to pay off my balance in full. I did the smart move and got a signature loan at a local credit union to pay off the balance... Too bad the credit union gave me a check which I had to mail to these crooks. I sent the payment over a week in advance of the due date and they claim it was lost in the mail. I went to pay the minimum payment so they don't charge me a late fee. I called them several times; sounds like they are operating out of India. Representatives are hard to understand.
I wouldn't put it past this bank to be sitting on my check waiting to charge me with late fees and get me for another month's interest. I believe this bank is pure evil, could care less about their customers and are out to scam everyone. I am just another one of their victims.
If anyone has a class action lawsuit out there going for these guys you can count me in. If you see anything with HSBC, Household Bank, Orchard Mastercard you can save yourself the pain of dealing with these crooks.in the end they will get your money either by rate jacking (from fixed to variable rates) or holding payments and charging you excessive fees.
Note: According to a representative of Orchard Bank the reason for them rate jacking me is that they want to maintain profitability in the current economic situation. Never mind they just got a tax payer bailout of $3.5 billion. If everyone is smart you will not do business with these large for profit banks. Go get bank accounts/credit cards at your local credit unions.
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