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Orchard Secured now Unsecured?

Valued Member

Orchard Secured now Unsecured?

I originally had an Orchard secured card for $200 that I opened October 2006.  Last month I applied for and got an unsecured Orchard for $500.  When I called to activate the new card I asked if my other one could now be unsecured since it was almost two years I had it and in good standing.  The girl said no problem, but then I got a letter in the mail last week stating they could not unsecure it, why I'm not sure but I read that happening to others on here too.  The funny thing is I went online to my account today and now I have a $300 limit on that card.  Am I to think that they actually did unsecure the card becuase as far as I know you can't get a CLI with a secured card unless you pay more towards it first?
1/12/08 TU 577 EQ 633 EX 665
7/15/08 TU 591 EQ 655 EX 672
3/11/09 TU 660 EQ 647
11/10/09 TU 707 EQ 676
03/01/11 TU 697 EQ 682
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2 REPLIES
Established Contributor

Re: Orchard Secured now Unsecured?

Not neccesarily. I have an Orchard Secured myself, but it states that they can actually increase the credit limit on a Secured card if they think you have been a good customer. Some other secured cards do the same... only part of the card is secured and the rest is unsecured. That BofA 99/500 is kind of an example. Put 99 down the limit is 500.
 
While the increase is nice (though small), I am bummed that (since it is my oldest card) I will probably never get my money back from that bank since in order to get the deposit back you have to close the account, which also closes the card. Smiley Sad
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Message 2 of 3
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Valued Member

Re: Orchard Secured now Unsecured?



Pappy214 wrote:
Not neccesarily. I have an Orchard Secured myself, but it states that they can actually increase the credit limit on a Secured card if they think you have been a good customer. Some other secured cards do the same... only part of the card is secured and the rest is unsecured. That BofA 99/500 is kind of an example. Put 99 down the limit is 500.
 
While the increase is nice (though small), I am bummed that (since it is my oldest card) I will probably never get my money back from that bank since in order to get the deposit back you have to close the account, which also closes the card. Smiley Sad


Thanks for the info.  That does stink, the Orchard Secured is my oldest too.  I won't be closing mine anytime soon either since Orchard is the only one that will give me a CC right now, besides a couple store cards I have.  I can't even get a Household because I have two Orchards now. 
1/12/08 TU 577 EQ 633 EX 665
7/15/08 TU 591 EQ 655 EX 672
3/11/09 TU 660 EQ 647
11/10/09 TU 707 EQ 676
03/01/11 TU 697 EQ 682
Message 3 of 3