Reply
Regular Contributor
AttaGirl
Posts: 159
Registered: ‎03-06-2008

Secured to Unsecured??

Does anyone know if Orchard Bank's secure card can be converted into an unsecured card in the future? I saw on BOA's website that their can and would eventually be converted in about 9 mo's of good history but I have not been able to find anything on Orchard Bank..
 
~AttaGirl
Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Secured to Unsecured??

Regular Contributor
AttaGirl
Posts: 159
Registered: ‎03-06-2008

Re: Secured to Unsecured??

Thanks Ilecs.
 
 
 
 
   I took the chance and did a preapproval thru Orchard and recieved the regular VISA with a cl of 300, it isnt much but I'll take it for now.  I keep telling myself ' take baby steps, take baby steps' :smileyhappy:
Established Member
blue_moon
Posts: 21
Registered: ‎06-10-2008

Re: Secured to Unsecured??

I spoke to Orchard today about converting my secured credit card to an unsecured card and they informed me that I could apply to have my card converted to an unsecured card after 1 year.  They said I could keep the same card number and it would continue to report on my credit report from the day I first opened the account.  They gave me the number to the bank where funds are secured to find out the process for getting my secured funds returned. 
Established Contributor
cartercorp
Posts: 851
Registered: ‎07-01-2008

Re: Secured to Unsecured??

Hmmm Orchard told me 4 days ago that the acct must be in good standing for 18 months. Then they review your acct for a Non-Secured acct..
I called the backdoor number for this and this is the responce they gave me.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+