hsbc/orchard platinum mastercard

[rsriverrat]

i just did the hsbc/orchard pre-approval site and they said i was approved for an orchard platinum MC with a apr of 14.9% however i cant seem to find a CL amount anywhere, is this typical? and what should i expect with sub 600 fico's, or will they actually deny me if i hit accept offer and they do a hard pull with my ficos so low? will this actually be a secured card? i have read the terms and conditions and it doesnt say anything about a secured deposit.

any ideas?

thanks

Ratt

[Anonymous]

cl for an Orchard card is typically $300.

[Anonymous]

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@rsriverrat wrote:

i just did the hsbc/orchard pre-approval site and they said i was approved for an orchard platinum MC with a apr of 14.9% however i cant seem to find a CL amount anywhere, is this typical? and what should i expect with sub 600 fico's, or will they actually deny me if i hit accept offer and they do a hard pull with my ficos so low? will this actually be a secured card? i have read the terms and conditions and it doesnt say anything about a secured deposit.

any ideas?

thanks

Ratt

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Your limit is most likely $72.00 .......well $300 to start with but after you pay the BOGUS processing fee's, maintence fee's, annual fee's, & activation fee's your limit will be a paltry $72.00 or is that First Premier bank or New Millennium that I was thinking about....but in any case they're all the same "platinum in name only" with bogus credit lines.

 King

[rsriverrat]

haha well actually my CL is zero, nada, zilch, after i hit submit they declined me..

guess after having bad credit for 20 yrs, and now having everything paid off, not being able to get it now isnt a big deal, who needs credit anyway.

oh well live and learn i reckon

Ratt

Message Edited by rsriverrat on 07-08-2009 06:43 PM

[Anonymous]

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@rsriverrat wrote:

haha well actually my CL is zero, nada, zilch, after i hit submit they declined me..

guess after having bad credit for 20 yrs, and now having everything paid off, not being able to get it now isnt a big deal, who needs credit anyway.

oh well live and learn i reckon

Ratt

Message Edited by rsriverrat on 07-08-2009 06:43 PM

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Try a credit union you should have better luck there. Good luck...you can do better then these cards anyway.

King

[iwantbettercredit]

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@rsriverrat wrote:

haha well actually my CL is zero, nada, zilch, after i hit submit they declined me..

guess after having bad credit for 20 yrs, and now having everything paid off, not being able to get it now isnt a big deal, who needs credit anyway.

oh well live and learn i reckon

Ratt

Message Edited by rsriverrat on 07-08-2009 06:43 PM

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Good thing we all have a sense of humor on this forum!  In any case, someone was looking out for you when they denied you because I am sure you deserve a better card than that one.  Actually we all deserve better no matter how bad our credit is.  Orchard bank should be considered an insult to all human race.

[rsriverrat]

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@Anonymous wrote:

Try a credit union you should have better luck there. Good luck...you can do better then these cards anyway.

King

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actually i went to my local credit unions website tonight and was quite surprised at the features they offer their members, and luckily everyone in our county can become a member even tho it is/was primarily for air force and fed contractors..

not sure about their credit cards, but they have whats called a savings assist loan, where they loan you up to 2k and place it in a savings account with a hold on it to secure the loan, then you make a min payment of 35 dollars at an apr of 5.5% for 42 months..

also their other regular banking services are better then my curent bank, and they have more atm locations also...

so i am going there tomorrow after work..

Ratt

[Anonymous]

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@rsriverrat wrote:

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@Anonymous wrote:

Try a credit union you should have better luck there. Good luck...you can do better then these cards anyway.

King

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actually i went to my local credit unions website tonight and was quite surprised at the features they offer their members, and luckily everyone in our county can become a member even tho it is/was primarily for air force and fed contractors..

not sure about their credit cards, but they have whats called a savings assist loan, where they loan you up to 2k and place it in a savings account with a hold on it to secure the loan, then you make a min payment of 35 dollars at an apr of 5.5% for 42 months..

also their other regular banking services are better then my curent bank, and they have more atm locations also...

so i am going there tomorrow after work..

Ratt

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There you go....thatis what you need. That builder loan for 42 months is good,BUT six months into making your payments on time apply for a card and see how fast they issue you a unsecured card because you are building credit and establishing yourself with them. Start there...keep us posted on your progress.

King

[rsriverrat]

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@Anonymous wrote:

There you go....thatis what you need. That builder loan for 42 months is good,BUT six months into making your payments on time apply for a card and see how fast they issue you a unsecured card because you are building credit and establishing yourself with them. Start there...keep us posted on your progress.

King

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i had actually thought about just getting 1k, and paying it off in 6 months instead of the full 2k over 42 months, i can handle 150 a month with no issue.. which do you think would be better, the higher CL paid over a yr or so, or the lower paid off in 6 months?

Ratt

[Anonymous]

Why not get a secured card and use it to build up your credit? As long as you pay the bill, the "security deposit" will always be yours and if the card allows you to convert to unsecured after a year , then you will get your deposit back and have a positive trade line.