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New Contributor
Posts: 52
Registered: ‎05-12-2010
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Orchard Bank Discover Card offer. Is It a Good Deal?

Received a CC offer from Orchard bank today and here are some of the highlights: 14.99 apr Typical 21.9apr for penalties 55 to start 74 yearly afterwards 300 limit to start(technically 245 for the first month) Should I toss it? Does Discover/Orchard give generous CLI's? Or can I find a better deal on my own? Thanx for the responses.

StartingScore:b>TU 587 EQ 627 5/14/10
Current Score: TU 686 EQ 733
Goal Score: TU 720 EQ 720 EX 720 1/1/11
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Frequent Contributor
Posts: 483
Registered: ‎05-06-2009
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Re: Orchard Bank Discover Card offer. Is It a Good Deal?

With a 733 EQ FICO, you shouldn't even be considering that offer IMHO.

Obviously your credit profile is much more than scores.. but that is a sub-prime card aimed at people with little or no history (or bad history) who are typically in the 500's or maybe just cracked 600.  If you have income and a relatively decent history (a couple of older baddies are okay), you should be getting "normal" cards with low or no AF and a usable credit line.

 

All IMHO of course!  Good luck!

New Contributor
Posts: 52
Registered: ‎05-12-2010
0

Re: Orchard Bank Discover Card offer. Is It a Good Deal?

Thanks for the reply. Just wanted to know if it would have been worth the wild to put up with the crap limit. My transunion scrore got me a Visa CC through my Credit Union with the following: 1000 limit 18.9apr for any penalties 10.9 apr to start No annual fees

StartingScore:b>TU 587 EQ 627 5/14/10
Current Score: TU 686 EQ 733
Goal Score: TU 720 EQ 720 EX 720 1/1/11
Take the FICO Fitness Challenge

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