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Does Orchard Bank always....?

Established Member

Does Orchard Bank always....?

I got approved for an unsecured card, but do they always require you to send in a processing fee before you even get your card? Is it possiable to be denied credit after it already says that you are approved and you send in your fee? If this is how they do it, I would rather not use them. If I can get this card, is there any other card that I could get besides Credit one? I already have that one.

thanks!

12/10/10 Score 418
C/C's:
Orchard Bank / Unsecured / $300 Limit
Credit One / Unsecured / $250 Limit
Trying to pull the score back up after some collections and student loan LP's.
8 REPLIES
Epic Contributor

Re: Does Orchard Bank always....?

Best Buy Mastercard by HSBC

Capital One

Macys 

Established Member

Re: Does Orchard Bank always....?

My exp is only 570. Cap One said that I had no preapprovals, and I'm black listed from Macy's most likely bc I have a charge off in late 05

12/10/10 Score 418
C/C's:
Orchard Bank / Unsecured / $300 Limit
Credit One / Unsecured / $250 Limit
Trying to pull the score back up after some collections and student loan LP's.
Established Contributor

Re: Does Orchard Bank always....?

You should check the preapproval for the regular HSBC and for the RZMC backed by HSBC. Those are fairly easy to get although I was denied both opened a credit one had it satisfactory for 2 months and then tried again and got both. So they like to see 1 positive CC open in my experience but its a preapproval and doesnt cost a hard inquiry so if denied no harm.
----------------------------------------------------------------------------------------------
2011 Credit Goals
1. No Lates
2. Join the 700 club
3. No inquiries
----------------------------------------------------------------------------------------------
Frequent Contributor

Re: Does Orchard Bank always....?


TryAgain88 wrote:

I got approved for an unsecured card, but do they always require you to send in a processing fee before you even get your card? Is it possiable to be denied credit after it already says that you are approved and you send in your fee? If this is how they do it, I would rather not use them. If I can get this card, is there any other card that I could get besides Credit one? I already have that one.

thanks!


I have 2 cards from Orchard. My first, which is now 4 years old, had no fee. The second, this year, did. Both have been good rebuilders.

 

CB

Message Edited by charliebrown1370 on 01-05-2010 07:27 PM

Starting Score: EQ 618 TU 585
Current Score: EQ 680 TU 698 EX 681 (lender pull 04/2010)
Goal Score: EQ 720 TU 720


Take the FICO Fitness Challenge
Senior Contributor

Re: Does Orchard Bank always....?


okstatefan5945 wrote:
You should check the preapproval for the regular HSBC and for the RZMC backed by HSBC. Those are fairly easy to get although I was denied both opened a credit one had it satisfactory for 2 months and then tried again and got both. So they like to see 1 positive CC open in my experience but its a preapproval and doesnt cost a hard inquiry so if denied no harm.

 

If you go through their pre-approval process and it shows a card you are pre-approved for, at that point there has only been a soft inquiry on your credit report.  However, once you click and accept the pre-approved card you will get a hard inquiry.

 

And the kicker is that they can -- and often do -- decline you for the card they say they pre-approved you for.

IAALBNYL
Frequent Contributor

Re: Does Orchard Bank always....?


O6 wrote:

okstatefan5945 wrote:
You should check the preapproval for the regular HSBC and for the RZMC backed by HSBC. Those are fairly easy to get although I was denied both opened a credit one had it satisfactory for 2 months and then tried again and got both. So they like to see 1 positive CC open in my experience but its a preapproval and doesnt cost a hard inquiry so if denied no harm.

 

If you go through their pre-approval process and it shows a card you are pre-approved for, at that point there has only been a soft inquiry on your credit report.  However, once you click and accept the pre-approved card you will get a hard inquiry.

 

And the kicker is that they can -- and often do -- decline you for the card they say they pre-approved you for.


Check the application terms. The card I applied for stated that if I was not approved the fee would be returned.

 

CB


Starting Score: EQ 618 TU 585
Current Score: EQ 680 TU 698 EX 681 (lender pull 04/2010)
Goal Score: EQ 720 TU 720


Take the FICO Fitness Challenge
Established Contributor

Re: Does Orchard Bank always....?


O6 wrote:

okstatefan5945 wrote:
You should check the preapproval for the regular HSBC and for the RZMC backed by HSBC. Those are fairly easy to get although I was denied both opened a credit one had it satisfactory for 2 months and then tried again and got both. So they like to see 1 positive CC open in my experience but its a preapproval and doesnt cost a hard inquiry so if denied no harm.

 

If you go through their pre-approval process and it shows a card you are pre-approved for, at that point there has only been a soft inquiry on your credit report.  However, once you click and accept the pre-approved card you will get a hard inquiry.

 

And the kicker is that they can -- and often do -- decline you for the card they say they pre-approved you for.


My wife and I have used it three times 1 for an orchard, 1 for a HSBC, and 1 for the RZMC and they all were approved after the preapproval. It is a YMMV like anything else but the preapproval selector is the closest you will get without actually applying for a card to get an idea of what you may be approved for.

----------------------------------------------------------------------------------------------
2011 Credit Goals
1. No Lates
2. Join the 700 club
3. No inquiries
----------------------------------------------------------------------------------------------
Highlighted
Senior Contributor

Re: Does Orchard Bank always....?


charliebrown1370 wrote:

O6 wrote:

okstatefan5945 wrote:
You should check the preapproval for the regular HSBC and for the RZMC backed by HSBC. Those are fairly easy to get although I was denied both opened a credit one had it satisfactory for 2 months and then tried again and got both. So they like to see 1 positive CC open in my experience but its a preapproval and doesnt cost a hard inquiry so if denied no harm.

 

If you go through their pre-approval process and it shows a card you are pre-approved for, at that point there has only been a soft inquiry on your credit report.  However, once you click and accept the pre-approved card you will get a hard inquiry.

 

And the kicker is that they can -- and often do -- decline you for the card they say they pre-approved you for.


Check the application terms. The card I applied for stated that if I was not approved the fee would be returned.

 

CB


 

Sure, they have to refund the fee.  Too bad they don't refund the inquiry.  Smiley Happy
IAALBNYL