Orchard Bank Platinum Mastercard

[tinroofrusted]

Obviously NOT everyone has had good experiences with Orchard, but I did.

They started me with a CL of $1500, annual fee $39. Got 3 CLIs (none of which I requested OR paid for) in the 2 years I had the card, each $200, so my final CL when I closed the card was $2100.

When I called to close the card, they offered to reduce my APR to 11% (was a bit over 19 when I called). Thought about it for half a second and then proceeded with closing the account.

Once again, it's not a card you keep the rest of your life...and I think Orchard knows that. Just use it to start your rebuilding and move on once you get better things...

I think that you are the exception rather than the rule here.

I have NEVER heard of anyone starting Orchard with anything more than a $500 CL. That's great they did it for you, but good call with closing the account.

[nessa30]

I agree with SFEBR (user name) also. We all know you can't keep cards like Orchard bank and the rest of them all our life. We just used them to a point where we are trying to get our credit rating up. Close them, get the cards that we really want.!

[amyl]

I had to apply for Orchard last night. I didn't want to cause what I read here...but the only other cc I was approved for was Aspire. I love Asppire...despite the fees...cause they have been nothing but awesome. I couldn't even get a Hooters card.

After about 6 mo (after credit has been cleaned til they drop off) and a million denials...had to apply. I got e-mail today that I was approved. Haven't got the card so I don't know what the limit is yet. At this point I don't care. I just need to add TL so that I can keep it positive for about a year or so then close it. Thanks Orchard (but not that much thanks to fees lol)

[sfbehr]

I think that you are the exception rather than the rule here.

That's entirely possible.

I still think Orchard is much preferable to most of the other subprime "bottom-feeders" out there, like Aspire, First Premier and Applied Card Bank/Cross Country. But if they'd offered me something with lots of stupid fees like the others did, I can assure you I would have passed.

That's really the best advice I can offer anyone coming out of a BK -- DON'T take all the crappy offers that come your way just after discharge! You don't need 10 subprime cards to start rebuilding. 1-2 will do just fine; use 'em and wait a bit...better offers will come along, if you're just patient about it.

[FilingOnMyOwn]

Orchard/Household is a good place to start... But not to stay.