New card!

[NASCAR20FAN]

I never thought this would happen, but guess what? I went online ans was approved for a Orchard Card. $300 limit $49 fee. I was a little surprised, but I'll take it! It's a huge step above the card I have now. I'm going to wait until I get a credit limit increase and see if I can do A balance transfer to the new card

[poorme]

Baby steps, bro. Congrats!

[FilingOnMyOwn]

I'm going to cancel household & orchard. Plus, a $59 annual fee is such a ripoff for a small credit limit.

[NASCAR20FAN]

Nascar20fan -- be prepared -- 6 months from now Orchard Bank is going to raise your interest rate to 29%. It's their "MO". They'll give anyone a card and then in 6 months they raise the interest rate, based on your "credit" and if you put more than $150 on it.

Search the forums, you'll find a couple of posts about this. Both me and hubby have the Orchard Bank cards, applied within week of each other, the got his notice first and one week to the day later, I got mine (that they were raising the interest rate).

His is unsecured, mine is secured. How can they raise the interest to 29% on a SECURED CARD? There is NO RISK TO THEM.

It's a scam and predatory lending at it's finest.

You know now that I think about it, I do remember reading something about that before. Oh well, I'm not tto worried about the interest rate for a couple of reasons:
1-I'm not going to be maxing out the card (I may re evauluate the balance transfer deal if that does happen)

2- It will be a open line being reported on my credit report! I really need the boost right now (big time) I figure if I alternate buying lunch out twice a week for myself between this account and the other card I have it will set me up with a decent payment history (on open lines).

Thanks for the heads up, the beauty abour being approved for credit is this

1-If your smart, you know how (and when) to use it to help not hurt your credit. From what I see most of use have learned that lesson.

2-You can walk away if you find something better! just pay it off or do a balance transfer (if you can), and move on!

I'm very excited! My goals are getting closer and I know I'll make

[lrprn]

I'm very excited! My goals are getting closer and I know I'll make

Good for you, NASCAR!! You are doing a great job so far - all of us are learning how to rebuild from watching you at work. With your determination, you'll be in a home in no time!