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Valued Contributor
Boswd
Posts: 1,065
Registered: ‎04-26-2007

Re: Orchard Bank?

Thanks I haven't done any serious shopping around yet,   I was just going to try and wait out my credit report and score and try again with BoA secured.  
Regular Contributor
dazednconfused
Posts: 244
Registered: ‎04-16-2007

Re: Orchard Bank?

You could try for a Hooter's Mastercard. I think they are HSBC, but they seem to give higher credit limits than Orchard and are fairly easy to get.  I think they approve with high 5's low 6's and no collections on the report.  Annual fee is not too outrageous. 
Established Member
mamabear
Posts: 40
Registered: ‎05-05-2007

Re: Orchard Bank?

Have we answered the question yet?  Does the limit matter as long as you have low utilization?  $30 of a $300 limit versus $300 of a $3000 limit?
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007

Re: Orchard Bank?

[ Edited ]


mamabear wrote:
Have we answered the question yet?  Does the limit matter as long as you have low utilization?  $30 of a $300 limit versus $300 of a $3000 limit?



Nope


Message Edited by Tuscani on 05-09-2007 03:16 PM
Contributor
devhip
Posts: 210
Registered: ‎04-28-2007

Re: Orchard Bank?

[ Edited ]


Boswd wrote:
They're affiliated with HSBC right?     I had a Merchant's Bank MC that got charged off and sent to collections that I just recently paid off, but I know that HSBC bought out Merchants Bank some time ago,   I wonder if that would have any affect on me trying to get a secured CC with Orchard.  I have heard good things about them.


 I had a Merchant's card that turned into a collection about 5 years ago. Same scenario, and I got approved for the Orchard.
 


dazednconfused wrote:
You could try for a Hooter's Mastercard. I think they are HSBC, but they seem to give higher credit limits than Orchard and are fairly easy to get.  I think they approve with high 5's low 6's and no collections on the report.  Annual fee is not too outrageous. 


Funny you mention that. I pulled up the database often mentioned here that details scores, CRA pulled and other info to research my revolving next TL. Based on my wimpy 633 TU score Hooters was by far the best choice. I have a hard time believing they approve someone hovering right at 600 up to $5K, but there seems to be many documented cases of that happening, even with CO's and unpaid collections. I applied, awaiting the dreaded manual review.  



Message Edited by devhip on 05-09-2007 01:17 PM
Valued Contributor
Boswd
Posts: 1,065
Registered: ‎04-26-2007

Re: Orchard Bank?

devhip wrote : I had a Merchant's card that turned into a collection about 5 years ago. Same scenario, and I got approved for the Orchard. Did they send your's to Wolpoff and Abramson? And don't you just love all the different names they use on the credit report, Merchant's Bank, Metris companies. HSBC. lol
Frequent Contributor
steelfan
Posts: 473
Registered: ‎03-06-2007

Re: Orchard Bank?

I have checked my credit status on various places that use the 3 different bureaus.  What I got from it is it cancels each other out. Under reasons why your score is what it is under bad I got you have low credit limits but under good it says your percentage of credit available compared to your limits is high.  I will say I have all three cards listed by previous posters and although my score stayed around 680 for months as of today its 725 despite neither raising my limit in months and having a chapter 13 still on my report
Contributor
devhip
Posts: 210
Registered: ‎04-28-2007

Re: Orchard Bank?

Yes, "assignee of Metris" etc. I used to feel like Rick Moranis in Ghostbusters, chasing these old accounts around.  I got them removed but it wasn't easy.
Contributor
devhip
Posts: 210
Registered: ‎04-28-2007

Re: Orchard Bank?

Thanks steel, that's the answer I was looking for. Guess I'll keep the Orchard and use it to finance an occassional sandwich.
Moderator Emeritus
LadyFICO
Posts: 273
Registered: ‎04-13-2007

Re: Orchard Bank?

Devhip:
You are correct the same formula applies no matter the limit. However, the bad thing is the fees associated with the s/p card that is bad. Good luck!

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