Approved for $250.000 mortgage, denied for $300 secured card.

[Shogun]

Since being on myFico I have greatly improved my credit scores.  Had applied for an Orchard secured card back in April and was denied, applied for a mortgage 2 weeks ago and passed with flying colors.  Doesn't make sense.

[llecs]

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@Shogun wrote:

Since being on myFico I have greatly improved my credit scores.  Had applied for an Orchard secured card back in April and was denied, applied for a mortgage 2 weeks ago and passed with flying colors.  Doesn't make sense.

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Do you know the reason for the denial? Maybe it's something other than credit.

[josie]

Orchard (HBSC) would not approve for a secured card once you have anything on chex, even if it is paid. I had an account chase put on there has been paid from three years ago and they denied me. Called them the rep told me once anything adverse is on your report they will not open any bank account (for secured card).

[llecs]

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@josie wrote:

Orchard (HBSC) would not approve for a secured card once you have anything on chex, even if it is paid. I had an account chase put on there has been paid from three years ago and they denied me. Called them the rep told me once anything adverse is on your report they will not open any bank account (for secured card).

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Interesting. Maybe that's a fairly recent rule. Back in the start of my rebuilding in 2007, I got a secured Orchard (partially secured at $500/$600) and had two COs listed on Chex at the time. However, my Orchard offer was a preapproval, which could make a difference I guess.

[josie]

Might be something new just happened to me about 3 months ago.

[fot1]

Do you have any other HSBC accounts?

[llecs]

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@fot1 wrote:

Do you have any other HSBC accounts?

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+1 very good question.