Orchard bank or Household bank

[stan_the_man]

The only real difference between any of these HSBC/Orchard rebuilder cards is the annual fee and APR. They're all going to offer low limits, and -- for the most part -- little upward mobility for CLs in the future.

[Anonymous]

Hello

I am trying to build my credit and I was Pre Approved for a Gold Orchard bank card and a Platinum Household bank card which is better to apply for?

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Youre much better off fronting a few hundred and getting a secured card. Otherwise youre going to get gutted on charges and fees. I used to have one of those bad credit cards and they are no fun at all.

Try applying for a low end Capitol One too.

[Anonymous]

Hello

I am trying to build my credit and I was Pre Approved for a Gold Orchard bank card and a Platinum Household bank card which is better to apply for?

[Anonymous]

I don't understand these comments like "Otherweise youre going to get gutted on charges and fees." If you pay ontime and aren't stupid about it then you don't get gutted for anything. Additionally, when you have poor credit and are trying to rebuild, then a small annual fee is a small price to pay.

I am rebuilding and out of my five credit cards, three charge annual fees. Two are from Capital One and one is from Household bank.. no problems with any of them. No additional fees. No "gutting."

[Anonymous]

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@Anonymous wrote:

But with the exception of a handful of companies, it's nothing more than presumed status. There's "platinum" cards you can get with bad credit and a $300CL LOL. It used to mean something long ago. Not these days, again, for most card issuers.

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I couldn't agree more, my first rebuilder card was a Cap1 No Hassle Rewards Platinum 500CL.

I kinda agree with the last poster, pay on time, be good to the card and you should not get gutted. For someone rebuilding with really bad credit, a 49AF, 19.90APR and 19 processing fee is a small price to pay to get back in the game.

PIF the card every month and the 19.90APR has no factor, and after a year or two (all depends on your situation) you can app for somewhat better cards, if not prime cards that have zero AF, low APR and no processing fees.

To the OP what kinda Ficos do you have? Cap1 is pretty lenient with approving those with bad credit with their rebuilder cards.

Best of Luck!

[ptkdude]

If you recently received a card from HSBC, they will likely decline you for another card, even if their system "preapproves" you (happened to me).  I don't know if apping would result in another hard pull; their internal system may stop an application before it gets to that point.

[Wolf3]

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@Anonymous wrote:

I don't understand these comments like "Otherweise youre going to get gutted on charges and fees." If you pay ontime and aren't stupid about it then you don't get gutted for anything. Additionally, when you have poor credit and are trying to rebuild, then a small annual fee is a small price to pay.

I am rebuilding and out of my five credit cards, three charge annual fees. Two are from Capital One and one is from Household bank.. no problems with any of them. No additional fees. No "gutting."

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For rebuilding, Capital One and HSBC have been good for me.   No problems, no excessive fees.