• Report: #448092

Complaint Review: ORCHARD BANK - HSBC

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  • Submitted: Fri, May 01, 2009
  • Updated: Sat, May 02, 2009

  • Reported By:Belgrade Montana
ORCHARD BANK - HSBC
WWW.ORCHARDBANK.COM Nationwide U.S.A.

ORCHARD BANK - HSBC HOLDS FUNDS EVEN THOUGH THEY ALREADY DEBITED BANK ACCOUNT!!! Nationwide

*Consumer Comment: Actually...

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I have had an orchard bank credit card for 3 years now. It is an unsecured card with a $300 limit. For 3 years I have made my payment on time every month, but haven't used the card very much. Lately, to boost my credit score, I started completely paying the card off, then using it for groceries and gas, right up to the limit, then paying it off again. I have been paying it off about every two weeks. Keep in mind I have been making online payments using the same bank account for the past 2 years. All of a sudden, they put an "authorization hold" on my payment. They then tried to tell me that this is common practice and they do this every time and that it is my banks fault for not getting the payment to them fast enough.

I even had them call my bank who told them that the payment was being processed as they spoke...(it was already showing up on my online banking) This is a flat out lie because last payment of $250 was available on my card before it even posted to my bank account. So, now I have no grocery money and they are telling me that it will be available in 5 buiness days.

SO MY KIDS HAVE TO GO HUNGRY FOR 5 DAYS?! They have no compassion whatsoever and told me that if I need the funds so bad, I should ask for a balance increase (they actually said that to me) ....THE CARD IS PAID OFF, YET I AM SUPPOSED TO HAVE THEM RUN MY CREDIT AND TRY AND GET AN INCREASE IN ORDER TO USE IT!!! These people are a joke and a rip off and I hope people don't make the mistake I have and read this before opening an account with them.

C. ****
Belgrade, Montana
U.S.A.

This report was posted on Ripoff Report on 05/01/2009 01:54 PM and is a permanent record located here: http://www.ripoffreport.com/r/ORCHARD-BANK-HSBC/nationwide/ORCHARD-BANK-HSBC-HOLDS-FUNDS-EVEN-THOUGH-THEY-ALREADY-DEBITED-BANK-ACCOUNT-Nationwid-448092. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Actually...

AUTHOR: Robert - (U.S.A.)

You have some misconceptions where you are the cause of your own problems.

"Lately, to boost my credit score, I started completely paying the card off, then using it for groceries and gas, right up to the limit, then paying it off again."
- Mistake #1. This not only is not helping your credit score it is actually hurting. This is because your high balance is reported to the credit agencies, so it appears you are always maxing out your card. This is a big negative on your credit. Ideally you should never use more than about 1/3 of your limit for the best effect.

"I have been paying it off about every two weeks."
- Mistake #2. Credit card companies report only once a month. So as long as you pay at least the minimum(but paying it off is better) by the due date you are fine.

"All of a sudden, they put an "authorization hold" on my payment."
- Orchard bank is a Sub-Prime credit card and it actually is a common practice in certain circumstances. You probably "triggered" this by your activity(maxing the card and multiple payments per month). There are a lot of people who will max out a card, pay it off, and then immediatly charge it up again. The payment then gets kicked back and they are now over their limit and have a tendency to default. I am not saying that you have done or had any intention of doing this, unfortunatly your actions fell into this pattern. I can not explain why they were giving you different reasons.

"SO MY KIDS HAVE TO GO HUNGRY FOR 5 DAYS?!"
- Sorry but this was caused 100% by your misunderstanding. Had you not charged up the account to begin with you would not have had this issue. Again, you should never use more than about a 1/3 of any credit card. Yes it is called a "limit" but you need to give yourself a self-imposed lower limit.

"THE CARD IS PAID OFF, YET I AM SUPPOSED TO HAVE THEM RUN MY CREDIT AND TRY AND GET AN INCREASE IN ORDER TO USE IT!!!"
- Since they are a Sub-Prime card and if they have not automatically given you an increase in 3 years, the chances of them giving you an increase if you asked for it would be slim. But again they already have access to your credit report because by just having the card you give them this permission.

So spend NO MORE than about $100 on your card a month and pay it off before the due date and you will be fine.
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