Orchard Bank Credit Card - Hsbc Card Service Very dishonest company, Very decieving fees and interest. Los Angeles Salinas California

I would have to disagree with what Cat said you can get the same deal buying credit or cash because they actually make more money off you buying on credit then if you pay cash, sometimes you may get a discount for cash but not always. It is great to pay with cash because you save paying all that interest but paying with cash DOES NOT build your credit history, so if you have no credit history, unless you are paying in full for a car or a house a cash down payment is good but you will pay higher interest than someone who has established an ongoing credit history. All credit cards in their cardmember agreement say they can cancel your card or raise your interest at anytime for any or no reason, and the amount cards you have could definately have something to do with it.

Orchard is a good company to try to get your credit back on track, I too had this card and they have stated right in the agreement what the interest rate would be and when it would go up and why. So read your agreement you just might find the answers you are looking for!. I don't think you should blame this company they did what they said they would do even according to you they helped you build your credit up. You can call the company and in most cases if you have been great in paying your account on time and have not gone over your limit then they will cut your interest rate if you have been with them long enough. Lets keep in mind they are a business and they are here to make money! so if you don't get any where with lowering your interest rate with them then just get it paid off and not use that card again, However I do know that if you close an account after you have paid it off it will lower your credit score I'm not sure by how much so you might want to check into that part of it before closing it. Cat is so right about cash, it is the way to go if you can be strict enough with your finances.

Good Luck
Hope this helps you and others!

You are correct that they are pretty much scum! However, these cards have the right to change your interest rate and credit limit at their whim. One reason I see right off the bat is you have way too much credit opened. Check your credit score if you haven't of late as I imagine that with all the lines of credit you have out that your credit score has drooped and in their minds, making you more of a credit risk.

The best approach is to pay them off and close the account. You have bought into the lie that you need credit cards in life. The best deals you can make is in using CASH. Walk into a car lot with 10K cash and see who gets the better deal. The guy with cash or the guy sitting trying to find a loan. I am not putting you down in any way. I used to have this card and also had many credit cards. Just like you I paid on time. I had my card line reduced when I paid it off. After the intial anger wore off and in listening to other people who taught me alot about my finances I learned that in order to build wealth I do not need credit cards.

Pay this card off and then work on your others and get them paid off. Look at all your debt on your cards and add it up. Then look at the cash you would have saved without all the debt you have. It is stunning and in the end WONDERFUL! Without all the debt I had last year my husband and I bought and paid in cash, getting a wonderful deal on a sweet deal on a hot tub. The deal we recieved we could not have gotten had we financed it. We got it cause we had CASH when we walked in. The look on the salesmans face.......now thats "PRICELESS"!

Good luck, hope you get this paid off.

Cat

You are correct that they are pretty much scum! However, these cards have the right to change your interest rate and credit limit at their whim. One reason I see right off the bat is you have way too much credit opened. Check your credit score if you haven't of late as I imagine that with all the lines of credit you have out that your credit score has drooped and in their minds, making you more of a credit risk.

The best approach is to pay them off and close the account. You have bought into the lie that you need credit cards in life. The best deals you can make is in using CASH. Walk into a car lot with 10K cash and see who gets the better deal. The guy with cash or the guy sitting trying to find a loan. I am not putting you down in any way. I used to have this card and also had many credit cards. Just like you I paid on time. I had my card line reduced when I paid it off. After the intial anger wore off and in listening to other people who taught me alot about my finances I learned that in order to build wealth I do not need credit cards.

Pay this card off and then work on your others and get them paid off. Look at all your debt on your cards and add it up. Then look at the cash you would have saved without all the debt you have. It is stunning and in the end WONDERFUL! Without all the debt I had last year my husband and I bought and paid in cash, getting a wonderful deal on a sweet deal on a hot tub. The deal we recieved we could not have gotten had we financed it. We got it cause we had CASH when we walked in. The look on the salesmans face.......now thats "PRICELESS"!

Good luck, hope you get this paid off.

Cat

You are correct that they are pretty much scum! However, these cards have the right to change your interest rate and credit limit at their whim. One reason I see right off the bat is you have way too much credit opened. Check your credit score if you haven't of late as I imagine that with all the lines of credit you have out that your credit score has drooped and in their minds, making you more of a credit risk.

The best approach is to pay them off and close the account. You have bought into the lie that you need credit cards in life. The best deals you can make is in using CASH. Walk into a car lot with 10K cash and see who gets the better deal. The guy with cash or the guy sitting trying to find a loan. I am not putting you down in any way. I used to have this card and also had many credit cards. Just like you I paid on time. I had my card line reduced when I paid it off. After the intial anger wore off and in listening to other people who taught me alot about my finances I learned that in order to build wealth I do not need credit cards.

Pay this card off and then work on your others and get them paid off. Look at all your debt on your cards and add it up. Then look at the cash you would have saved without all the debt you have. It is stunning and in the end WONDERFUL! Without all the debt I had last year my husband and I bought and paid in cash, getting a wonderful deal on a sweet deal on a hot tub. The deal we recieved we could not have gotten had we financed it. We got it cause we had CASH when we walked in. The look on the salesmans face.......now thats "PRICELESS"!

Good luck, hope you get this paid off.

Cat