Orchard - Approved !

[NJdotcom]

I know it doesnt seem like much, but it is for me. I called Orchard today and they said my card is scheduled to be released to me on 19th of Oct.

Approved for $300 limit, with $79 annual fee. Seems about normal. My first card after BK, on the road to BK recovery.

[nessa30]

I feel the same way!!! I was approved for that same card and rec'vd mine on last fridy. It came in handy because I had to use it for a serious emergency!!!! I'm going to keep this card for awhile because Orchard Bank really do help people re-establish them selves!!

[Pinktiger]

Today I received my First Priemer Master Card, with 9.9 percent interest, a $300 limit, and fees of $178 already on it. That's tough; but it is the only way back to credit of any kind, so I won't blow it. I plan to pay off the $178 at the first of the month and then to use the card sparingly, paying it off in full every month. With any luck, I'll be out of this card in no time and back to a real one.
Anyone have any experience with these cards, and how long it takes to get up to a normal card again?

[emoney]

Better Starting Place?

FNB of Omaha has a securied Visa for an annual fee of only $20. The intial deposit is $500. I plan to ride this horse for six to twelve months until other options open up.
Local CU will do similiar thing after discharge with no fee.
To get the max boost in scores you need revolving (Visa) and installment debt. For the installment part, borrow $500-1000 and repay in three to six months. Use loan proceeds in CD as security for loan.
With high cost to rebuild are you really helping yourself?
I hope this helps.
Thanks,
enoney

[Pinktiger]

I actually looked at all the options, and this seemed to be as good a deal as any other. The cost is $178. I've paid a lot more than that to get my act together, so to speak, so it is OK.
My work requires that I have access to a credit card. Right now I don't have access, except for this card, which is essentially useless until the limit improves, etc.
I'm hoping that down the road I can apply for a Hooter's card with a better rate and limit.

A large part of my bk debt was credit cards - most of it, in fact. So I don't blame them for making me accountable.

[HRx]

Best of luck with your endeavors to reestablishing good credit!

[ugh]

I actually looked at all the options, and this seemed to be as good a deal as any other. The cost is $178. I've paid a lot more than that to get my act together, so to speak, so it is OK.
My work requires that I have access to a credit card. Right now I don't have access, except for this card, which is essentially useless until the limit improves, etc.
I'm hoping that down the road I can apply for a Hooter's card with a better rate and limit.

A large part of my bk debt was credit cards - most of it, in fact. So I don't blame them for making me accountable.

Have you tried Hooters? I applied for them right out of BK7 and was approved for $1000. I was surprised and glad I didn't have to get a card with such a high anual fee. Although, I know not everyone gets approved. Otherwise, good luck with your new card. $178 really isn't that bad of an investment for rebuilding your credit. A good credit score will save you more than that down the road.

[Pinktiger]

No - I was afraid to try. Maybe now I will. Thanks for the idea.