Reply
Established Contributor
Susyquk
Posts: 504
Registered: ‎03-27-2009

Cancelled my Orchard Card

After calling every number I could find they told me that my Orchard Card will NEVER be changed from a secured to an unsecured card and that they would keep my $250 until I cancelled the account.  So i cancelled the account.  Many other things I could use that money for and it has no effect whatsoever on AAoA.

 

Never?  Meh it already did what I needed it to do and I have a $1500 limit with Cap One, store cards with lane Bryant and Macys, a car loan and a Chase card with a $1000 limit.  I will be taking out a secured loan with Alliant in the next couple of days also, that oughto do it, right?

Established Contributor
cartercorp
Posts: 851
Registered: ‎07-01-2008

Re: Cancelled my Orchard Card

Congrats on that.Once upon a time I did the same thing with Orchard served a purpose and time to more on.....
Senior Contributor
txjohn
Posts: 4,214
Registered: ‎09-12-2008

Re: Cancelled my Orchard Card

[ Edited ]

Orchard cards are a tool with a short term purpose, usually lasting from 12 to 24 months.  Beyond that they are an unnecessary expense (AF and tied up savings) that you are better served by other issuers or banks, most especially a good credit union.

 

I cannot stress the value of good CU's enough.  Had I started my builder years out at a CU, I would have cut, IMO, at least 2 years off of my come back (not including the drop of BK at 10)

 

FYI:  I too dumped Orchard.

Message Edited by txjohn on 05-16-2009 09:38 AM

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+