orchard bank and bank of america

[Anonymous]

I was approved for the orchard gold and was wondering if this is  good card to build your credit and how long will it be before I see an increase.  I also applied for a BOA card and it said it could only give me a secrued card becaus of the recent inquiry on my credit report (one little inquiry) .I have no credit card accounts on my credit report.  I only have installment loans ( cars, student loans, and 2 other different loans, on which I will be paying all off soon)  I have never been late on any of these, but yet it is taking so long for my scores to improve. I have 2 paid collections on my credit report one from 6 years ago and another from 1 year ago.

my scores are

EQ 622

EX625-616  after big neg was removed

Trans 622

Thanks for any replies

Do u have any suggestions

[Anonymous]

Let those cards report and keep the balances low- under 10% of CL.

Should see a huge score bump-

Have you tested this out in the score simulator?

[Anonymous]

Yes it said for a new account either would stay at 622-652 just from opening the account.

[Boswd]

Those are probably the two best starting credit card companies, both have small annual fee's especially BoA which I do believe is only $29 and Orchard can be a little high in some cases as high as $89 but you are getting very reputable banks and the subprime market for credit cards are full of wolves charging you an insane amount of bogus fee's that's limits your credit balance due to almost half before you even get the card.

You got two good ones and the good thing about the secured card is, YOU  get to determine your own credit limit.albeit with your own money but to get back into the game you couldn't have gotten any better two starter/credit building credit card companies.

[creditdream]

Well in my case i get orchard card after my BK was discharge by 3 months ,and they give me $ 500 with  $ 24 annual fee .

I think you  have a better chance then me .

My score in that time was below 600  with all of them . 

I hope this well help  .    good luck

[cobra19]

I would apply for a Hooters MC.........they seem to be pretty generous with their CL's. My sister (who is rebuilding) applied for and got a Hooters, with a TU of 606 and they gave her an initial CL of $3,500. I think the AF is $36.