Orchard card selector not very accurate.

[jeff6898]

I filed Chapter 7 BK 2/2/12 341 meeting on 3/14 I have 2 HSBC cards included. For the hell of it I went to the orchard website and did the card selector. Not to really get one, I was just curious if it would even say qualify for the secured card. It came up saying you have been approved for the Platinum unsecured card. I am guessing the card selector site is not to accurate.

Before anyone says anything I am not trying to get a cc while in BK. It was just a curious thing.

[soccerguy]

just because it came up saying you were approved doesn't mean u will get approved

[mountanddo]

Why people do this I'll never know. I can possibly understand someone doing this after their discharge but you haven't even had your 341 yet. I hope that it didn't put an inquiry on your credit report though I doubt the trustee looks at that. Would it of made you feel better if it came back not approving you at all?

[ValleYum]

I can't link it because I am on my Nook but it clearly says it will *not* affect your credit score on their page.

[Flamingo]

Did you enter your SS number? If you did, a hard inquiry will appear on your credit reports which is really not a good thing at this time. Anyway, just as stated above, because an approval was received online does not mean you will actually get the credit - once all is found out as to your recent BK filing (which it will be), you will not get the card but a letter indicating why you were denied.

[mountanddo]

Could it be possible that if one did actually get a credit card that once they did find out they would cancel the card? What kind of impact would that have on you?

[jeff6898]

No the orchard card selector is a soft pull. They don't pull a hard unless you actually take apply for the card they select for you. All the card selector does is pull a soft and it tells you based on that what they think you will qualify for.
Then you have the option to actually apply where they will pulla hard pull and say approved or declined. That I did not do as I said I have no desire to try and get credit during a bk. That would be stupid. As I stated in my first post..........

[ValleYum]

Snipped from the Orchard Bank website ( http://www.orchardbank.com/ecare/homepage/ourappprocess ) the highlighting is mine - I can not draw a straight line with my mouse to save my soul!:

[Flamingo]

No the orchard card selector is a soft pull. They don't pull a hard unless you actually take apply for the card they select for you. All the card selector does is pull a soft and it tells you based on that what they think you will qualify for.
Then you have the option to actually apply where they will pulla hard pull and say approved or declined. That I did not do as I said I have no desire to try and get credit during a bk. That would be stupid. As I stated in my first post..........

So you did not actually apply for the card but in plain words gave them some information where they can't actually offer you credit....what they probably do is tell everyone who goes through that avenue that they will qualify and hope they apply for the card as all it is is a way for them to hopefully get business. That is like getting a pre-approval offer in the mail - even though one is preapproved or approved for a credit card, it doesn't matter as the determination is based on the hard credit pull.

[jeff6898]

. My parents did the select card card as well. They have a 675-690 scores and theirs came up they qualify for secured card. No bk collections ect on their reports. So who really knows how the pre-selector determines what to offer.

So you did not actually apply for the card but in plain words gave them some information where they can't actually offer you credit....what they probably do is tell everyone who goes through that avenue that they will qualify and hope they apply for the card as all it is is a way for them to hopefully get business. That is like getting a pre-approval offer in the mail - even though one is preapproved or approved for a credit card, it doesn't matter as the determination is based on the hard credit pull.

[mountanddo]

. My parents did the select card card as well. They have a 675-690 scores and theirs came up they qualify for secured card. No bk collections ect on their reports. So who really knows how the pre-selector determines what to offer.

Wouldn't you have to put your SS# in the application in order for them to get your credit score?

[jeff6898]

Yes you do put in your ss# and if you go check your credit report you will see there is no hard pull

Wouldn't you have to put your SS# in the application in order for them to get your credit score?

[Flamingo]

Yes you do put in your ss# and if you go check your credit report you will see there is no hard pull

Have you checked again since that time? Hard pulls may not show up right away....

[mountanddo]

That is like getting a pre-approval offer in the mail - even though one is preapproved or approved for a credit card, it doesn't matter as the determination is based on the hard credit pull.

Yes, I just got a pre-approved Visa in the mail. With a credit score of 601 and just filing chapter 13, I doubt I'd qualify for even a secured card. I guess I'd just be nervous applying for any credit even before my 341. There is just no reason to rock the boat IMO especially if you aren't even looking to get credit.

[jeff6898]

Yes I monitor my credit daily. I have used orchard several times in the past. Never wil see a hard pull on the card selector. Only if you hot the reply button to accept the offer.

Have you checked again since that time? Hard pulls may not show up right away....