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Regular Contributor
helplessintn
Posts: 177
Registered: ‎04-10-2008

What to do with Orchard card?

I have a secured Orchard Bank card from HSBC with a $300 limit.  It was opened in 7/2009 so just turned a year old.  I got a preapproval for Discover More and decided to app for it, and was approved with a credit limit of $2k.

 

My question is:  what should I do with my Orchard card?  I never use it... should I just leave it open?

 

Thanks in advance!

EQ: 686
TU: 694
EX: ???
Moderator Emeritus
beamMEup
Posts: 4,473
Registered: ‎12-31-2008

Re: What to do with Orchard card?

My Orchard Bank card had an AF, so I closed it as soon as I had rebuilt enough to get a card without an AF.

 

If yours has an AF, I would close it before you pay the fee again.  Just my opinion.

 

Congrats on your Discover More!

Just puttin' syrup on something, don't make it pancakes.
Regular Contributor
helplessintn
Posts: 177
Registered: ‎04-10-2008

Re: What to do with Orchard card?

Thanks for the response!  I just checked online and sure enough, got hit with an annual fee.  I just closed that card. 

 

I'm excited to get the Discover More!  It's my first non-rebuilder card in years!!

EQ: 686
TU: 694
EX: ???
Community Leader
Senior Contributor
laz98
Posts: 4,275
Registered: ‎09-06-2008

Re: What to do with Orchard card?

i agree with beammeup.  i'm going to close mine shortly, the annual fee is coming due in november.

Latest scores: Walmart TU: 766. MyFICO TU: ---. DCU EQ: 741. PSECU EX: 756.
Regular Contributor
helplessintn
Posts: 177
Registered: ‎04-10-2008

Re: What to do with Orchard card?


laz98 wrote:

i agree with beammeup.  i'm going to close mine shortly, the annual fee is coming due in november.


Just FYI - I caught mine after the annual fee was applied, but before the due date.  I had no balance and the fee was removed when the account was closed.  I did that over the phone.  If you have a balance you can still have the fee waived if you pay it off within thirty days, I think... just FYI if they try to stick you with a fee.

EQ: 686
TU: 694
EX: ???
Community Leader
Senior Contributor
laz98
Posts: 4,275
Registered: ‎09-06-2008

Re: What to do with Orchard card?

thanks for that info.  i never even activated the card they last sent me; if they want to be stingy with their CLI, i will be cheap with my spending :smileyvery-happy:

Latest scores: Walmart TU: 766. MyFICO TU: ---. DCU EQ: 741. PSECU EX: 756.

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