05-15-2009 10:11 PM
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?
05-16-2009 09:35 AM - edited 05-16-2009 09:38 AM
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.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.