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Report: #407058

Complaint Review: ORCHARD BANK - Internet

  • Submitted:
  • Updated:
  • Reported By: WOODSIDE, LONDON Louisiana
  • Author Confirmed What's this?
  • Why?
  • ORCHARD BANK ORCHARDBANK.COM Internet U.S.A.

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I APPLIED FOR A SECURED CARD THROUGH ORCHARD BANK AND I HAD TO GIVE THEM A $200 DEPOSIT. I HAD THE CARD FOR 2 YEARS WHEN I DECIDED TO CLOSE THE CARD. INITIALLY WHEN I SIGNED UP IT SAID THAT IF I CLOSE THE ACCOUNT THEN THEY WOULD APPLY THE CREDIT BALANCE FROM MY DEPOSIT TO THE CARD BALANCE. WELL THIS DIDN'T HAPPEN. 2 MONTHS AFTER I CLOSED THE CARD I RECEIVED A PHONE CALL, SAYING THAT I WAS LATE ON MY PAYMENT AND I NEEDED TO PAY. THE CUSTOMER SERVICE AGENT WAS ARABIC OR SOMETHING AND I EXPLAINED THAT I CLOSED THE ACCOUNT 2 MONTHS AGO . SHE SAID THAT I DID, BUT I WAS STILL RESPNSIBLE TO PAY. I THEN SAID, HOW IS THAT WHEN I HAVE A CEDIT BALANCE AND THE COMPANY SHOULD BE SENDING ME THE REST OF MY MONEY. TO MAKE LONG STORY SHORT, THEY CONTINUED TO CHARGE ME LATE FEES ON A SECURED CLOSED ACCOUNT, WHICH ATE UP MY CREDIT BALANCE AND THEY ARE NOW SENDING ME BILLS SAYING THAT I OWE THEM ABOUT 200 AND SOMETHING DOLLARS. BASICALLY, I GAVE AWAY$200.

Mrs.k****
WOODSIDE, LONDON, Louisiana
United Kingdom

This report was posted on Ripoff Report on 01/01/2009 09:22 PM and is a permanent record located here: https://www.ripoffreport.com/reports/orchard-bank/internet/orchard-bank-secured-card-rip-off-internet-407058. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
0Author
4Consumer
0Employee/Owner

#4 Consumer Comment

You probably misunderstood...

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

POSTED: Friday, January 02, 2009

If you were "told" that it would just be applied to your balance you probably misunderstood. A Secured Card does NOT give you a Credit balance on your credit card. It is held in a separate account and is only applied to your credit card IF you become delinquent on the credit card. Once your account is paid off under the terms of the card, you then get your deposit back a few weeks later. You can confirm this by looking at the agreement you got when you opened the card. While doubtfull, if it actually states it exactly as you said then you would have a good case.

By the way it should not have taken a call after 2 months to realize there was a problem. Your first statement after you closed this you should have been questioning the payment if you really thought they would just take your deposit.

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#3 Consumer Comment

You probably misunderstood...

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

POSTED: Friday, January 02, 2009

If you were "told" that it would just be applied to your balance you probably misunderstood. A Secured Card does NOT give you a Credit balance on your credit card. It is held in a separate account and is only applied to your credit card IF you become delinquent on the credit card. Once your account is paid off under the terms of the card, you then get your deposit back a few weeks later. You can confirm this by looking at the agreement you got when you opened the card. While doubtfull, if it actually states it exactly as you said then you would have a good case.

By the way it should not have taken a call after 2 months to realize there was a problem. Your first statement after you closed this you should have been questioning the payment if you really thought they would just take your deposit.

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#2 Consumer Comment

You probably misunderstood...

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

POSTED: Friday, January 02, 2009

If you were "told" that it would just be applied to your balance you probably misunderstood. A Secured Card does NOT give you a Credit balance on your credit card. It is held in a separate account and is only applied to your credit card IF you become delinquent on the credit card. Once your account is paid off under the terms of the card, you then get your deposit back a few weeks later. You can confirm this by looking at the agreement you got when you opened the card. While doubtfull, if it actually states it exactly as you said then you would have a good case.

By the way it should not have taken a call after 2 months to realize there was a problem. Your first statement after you closed this you should have been questioning the payment if you really thought they would just take your deposit.

Respond to this report!
What's this?

#1 Consumer Comment

You probably misunderstood...

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

POSTED: Friday, January 02, 2009

If you were "told" that it would just be applied to your balance you probably misunderstood. A Secured Card does NOT give you a Credit balance on your credit card. It is held in a separate account and is only applied to your credit card IF you become delinquent on the credit card. Once your account is paid off under the terms of the card, you then get your deposit back a few weeks later. You can confirm this by looking at the agreement you got when you opened the card. While doubtfull, if it actually states it exactly as you said then you would have a good case.

By the way it should not have taken a call after 2 months to realize there was a problem. Your first statement after you closed this you should have been questioning the payment if you really thought they would just take your deposit.

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