Reply
Valued Contributor
Posts: 2,978
Registered: ‎02-09-2012
0

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
Posts: 15,442
Registered: ‎04-09-2011
0

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
Posts: 163
Registered: ‎03-04-2010
0

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
Posts: 2,978
Registered: ‎02-09-2012
0

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
Posts: 15,442
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
Posts: 2,978
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!!!
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. 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.