applying for orchard card

[Anonymous]

question. I am getting ready to apply for an orchard secured credit card. Need to go to a new credit union tomorrow to set up a savings for this. It is my understanding a savings account is attached to the card and they freeze this for that purpose. For orchard's secured cc line, are there different limit options? $200, $300, $400, $500? Can I find out what I will be qualified for before going through the process? Do I need to set up my savings account before I apply or can I apply, see what I qualify for and then set it up? I have about $500 I am willing to use to get this going but don't know what the sequence of steps is. I obviously want to start out with as high a limit as I can. I may even be able to qualify for a non-secured card and would like to know that option before hand. My scores are TU=612, EX=573, EQ=612. Any help or advice would be appreciated. Thanks

[Anonymous]

You can deposit ANY amount up to $5000 with orchard... I would do BofA secured instead. You can deposit anything up to $10000 and they report MUCH, MUCH faster.

Rob

[Anonymous]

with my scores, would I qualify for anything they offer? Also, am I good enough to go non-secured?

[Takunda1]

if you are going secured, I would stay away from Orchard Bank or HSBC, try BoA, Wamu, Citibank instead.

[Anonymous]

also, if orchard allowed you to attach an account of any amount for it's limit, can you add to it over time and therefore raise your own limit? Does BofA do this too?

[Takunda1]

Your scores are kind of low for unsecured. I would go with Wamu for unsecured but IO'd say increase your TU score by at leat 15. Most creditors pull EX and that score is very low.

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snailboy wrote:
with my scores, would I qualify for anything they offer? Also, am I good enough to go non-secured?

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