"Got Approved W/low FICO!!!"
Orchard Bank® Platinum MasterCard® Review
Written by: aboss3 on 2009-04-15
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aboss3's review: 
I was getting denied numerous times by major CC's due to recent collection, write-offs, and making poor credit decisions.
After 2 years, I decided to first apply for a FirstPremier card with high fees, and got approved. Then I wanted to try CapitalOne again, and to my surprise got approved as well. Now, I am finally approved for an Orchard unsecured Mastercard with $300 CLI. My initial annual fee was $60, and it was immediately posted to my account.
Well, after paying $180 to First Premier in addition to paying them $8 every month, this card looks like a keeper!
My scores are: TU-525 EQ-505 EX-509
I plan on keeping these 3 cards in addition to having a $100 Macys and $400 Kohls for at least a year, and I'll definitely cancel my FirstPremier at the end of the year, to avoid getting charged even more.
Does anyone know if this card increases your CLI every 3 month, just like CapOne does?
I was getting denied numerous times by major CC's due to recent collection, write-offs, and making poor credit decisions. After 2 years, I decided to first apply for a FirstPremier card with high fees, and got approved. Then I wanted to try CapitalOne again, and to my surprise got approved as well. Now, I am finally approved for an Orchard unsecured Mastercard with $300 CLI. My initial annual fee was $60, and it was immediately posted to my account.
Well, after paying $180 to First Premier in addition to paying them $8 every month, this card looks like a keeper!
My scores are: TU-525 EQ-505 EX-509
I plan on keeping these 3 cards in addition to having a $100 Macys and $400 Kohls for at least a year, and I'll definitely cancel my FirstPremier at the end of the year, to avoid getting charged even more.
Does anyone know if this card increases your CLI every 3 month, just like CapOne does?
6 Comments
Comment 1 by meya
Way To Go 
on 2009-04-15
Congrats on your approval. They gave you a fair beginners cl. Hate to be the bad news barer but, you can forget about a 3 month cli with them. If or when you do receive one, don't be surprised if you got $20. Cap one was the best decision, this card is good for rebuilding, but not to grow with.
on 2009-04-15 Congrats on your approval. They gave you a fair beginners cl. Hate to be the bad news barer but, you can forget about a 3 month cli with them. If or when you do receive one, don't be surprised if you got $20. Cap one was the best decision, this card is good for rebuilding, but not to grow with.
Comment 2 by hjm331
Congrats! on 2009-04-15
Congrats on the approval! This card definitely leaves First Premier in the dust as it only charges you an annual fee can be reduced by 50% if you call their CS and threaten to close your account. However, be sure that you're talking to a manager because they're the ones that can authorize such adjustments.
Don't expect too many CLI's, this card is good for building credit and obtaining better cards, not really a card that will grow with you as Meya stated above.
I would call and close the First Premier account ASAP instead of wasting more time and money with them.
on 2009-04-15 Congrats on the approval! This card definitely leaves First Premier in the dust as it only charges you an annual fee can be reduced by 50% if you call their CS and threaten to close your account. However, be sure that you're talking to a manager because they're the ones that can authorize such adjustments.Don't expect too many CLI's, this card is good for building credit and obtaining better cards, not really a card that will grow with you as Meya stated above.
I would call and close the First Premier account ASAP instead of wasting more time and money with them.
Comment 3 by billm
My Orchard Bank Story on 2009-04-16
I had some credit problems two years ago. I got a secured credit card. I charged and paid off the balances in full every month on time. After eight months I needed another credit card. I tried to apply for a Capital One credit card for average credit and got denied. I didn't want to get another secured credit card. So I did a little research on the Internet. I found an article about the Orchard Bank MasterCard. I knew I didn't have the worse credit anymore. Orchard was my best chance because although they had a credit card for secured credit they had other credit cards. When you apply for one of their cards you basically apply for them all. They approve you based on your credit situation. So I applied and thankfully I got approved for an unsecured credit card. My annual fee is 79.00, and I don't think that was so bad because I still have shaky credit. I really recommend Orchard because I think it saved me a lot of money. I just got approved two days ago.
on 2009-04-16 I had some credit problems two years ago. I got a secured credit card. I charged and paid off the balances in full every month on time. After eight months I needed another credit card. I tried to apply for a Capital One credit card for average credit and got denied. I didn't want to get another secured credit card. So I did a little research on the Internet. I found an article about the Orchard Bank MasterCard. I knew I didn't have the worse credit anymore. Orchard was my best chance because although they had a credit card for secured credit they had other credit cards. When you apply for one of their cards you basically apply for them all. They approve you based on your credit situation. So I applied and thankfully I got approved for an unsecured credit card. My annual fee is 79.00, and I don't think that was so bad because I still have shaky credit. I really recommend Orchard because I think it saved me a lot of money. I just got approved two days ago.
Comment 4 by brian23
Very Nice..... on 2009-04-16
I have a question; I noticed that you have a Kohls CC, are they charge-off friendly? I want to apply for their card but I am not to sure if I will get approved for it or not.
But, congrats on the Orchard approval and stick with CapOne, they are a popular card around here...
on 2009-04-16 I have a question; I noticed that you have a Kohls CC, are they charge-off friendly? I want to apply for their card but I am not to sure if I will get approved for it or not.But, congrats on the Orchard approval and stick with CapOne, they are a popular card around here...
Comment 5 by aboss3
Question on 2009-04-17
I got Kohl's before my charge-offs, and was still owing money to them. They brought down my CL from $4k to $400, and it's been that for the last 2 years. Same thing with Macy's card, even though I had a charge-off on my 2nd Macy's. I'm just making sure to pay at least a minimum payment each month. They do report to 3 BU's every month, which helps rebuild the credit.
on 2009-04-17 I got Kohl's before my charge-offs, and was still owing money to them. They brought down my CL from $4k to $400, and it's been that for the last 2 years. Same thing with Macy's card, even though I had a charge-off on my 2nd Macy's. I'm just making sure to pay at least a minimum payment each month. They do report to 3 BU's every month, which helps rebuild the credit.
Comment 6 by hjm331
RE: Aboss on 2009-04-19
If you've been making minimum payments, the lender assumes that you're having financial troubles and having a hard time paying your balance off. That's why they lowered your CL, to limit exposure and reduce the chances of a default or another CO. Don't take it personal, it's just business.
on 2009-04-19 If you've been making minimum payments, the lender assumes that you're having financial troubles and having a hard time paying your balance off. That's why they lowered your CL, to limit exposure and reduce the chances of a default or another CO. Don't take it personal, it's just business.
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Disclaimer: This content is not provided by Capital One Bank (USA), N.A.. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Capital One Bank (USA), N.A.. Review content is powered by Finance Globe.
