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Valued Contributor
Repo-ed
Posts: 2,960
Registered: ‎02-09-2012
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Orchard Bank Card - Secured or not?

Ya, it's 4am, and I'm about to head to the airport.  But before I do, I'm doing my usual reading of the fico forums, and it just dawned on me.

 

Is my OB card secured or not?  I honestly can not remember how I opened it.  I'm fairly certain it was opened with a SD.

 

Besides calling CS and asking, is there a way to tell on my CRs?

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!
Mega Contributor
LS2982
Posts: 15,436
Registered: ‎04-09-2011
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Re: Orchard Bank Card - Secured or not?


Repo-ed wrote:

Ya, it's 4am, and I'm about to head to the airport.  But before I do, I'm doing my usual reading of the fico forums, and it just dawned on me.

 

Is my OB card secured or not?  I honestly can not remember how I opened it.  I'm fairly certain it was opened with a SD.

 

Besides calling CS and asking, is there a way to tell on my CRs?


Not exactly. You would need to call them to find out.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
New Contributor
ocboy949
Posts: 163
Registered: ‎03-04-2010
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Re: Orchard Bank Card - Secured or not?


Repo-ed wrote:

Ya, it's 4am, and I'm about to head to the airport.  But before I do, I'm doing my usual reading of the fico forums, and it just dawned on me.

 

Is my OB card secured or not?  I honestly can not remember how I opened it.  I'm fairly certain it was opened with a SD.

 

Besides calling CS and asking, is there a way to tell on my CRs?



Kinda sorta maybe. Depends on the issuer.  It'll say on the CR under "Account Type" 

 

I know that BankofAmerica secured cards report as "Secured Credit Card"  but the Capital One secured card reports as a regular "Credit Card".  Don't know about about Orchard. Take a look at your report(s) but don't take it verbatim if it just reports as  "Credit Card" - call in

TU FICO - 752 (8/12/11)
EX PLUS - 721 (8/9/11)
EQ FICO - 648 (2010)

(21 years old)
Valued Contributor
Repo-ed
Posts: 2,960
Registered: ‎02-09-2012
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Re: Orchard Bank Card - Secured or not?

Thanks guys.  I'll give them a call when I get home next week.

 

I guess I am kind of hoping it isn't despite having a low CL.  Not sure, even with low CLs, that having a un-secured may "appear" better to future lenders?

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!
Mega Contributor
LS2982
Posts: 15,436
Registered: ‎04-09-2011
0

Re: Orchard Bank Card - Secured or not?


Repo-ed wrote:

Thanks guys.  I'll give them a call when I get home next week.

 

I guess I am kind of hoping it isn't despite having a low CL.  Not sure, even with low CLs, that having a un-secured may "appear" better to future lenders?


IMO it may be better to have a secured card because you can control your CL. Unsecured you have to wait until they feel comfortable giving you a CLI!




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Valued Contributor
Repo-ed
Posts: 2,960
Registered: ‎02-09-2012
0

Re: Orchard Bank Card - Secured or not?

Good point.

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!

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