I just found out I got approved for an Orchard bank card that I applied for online. I needed to start rebuilding my credit asap. I had no open charge accounts at all, they have all been charged off within the last year. I have an open mortgage and a lease both with numerous (10 or more) 30 day lates on them. Funny thing is I have a Household Finance charge-off that was settled but still being reported as a charge-off with a balance on my credit report. I don't have 6 months of good payment history, my most recent lates were 2 months ago. My Experian score was 606 when they pulled it. It dropped to a 558 after the hard inquiry. The card is unsecured but I don't know what the credit limit is. I don't really care, I just want something I can start making regular payments on to build a history again. It took them 12 business days to notify me by email that I was approved and the email says I won't get my card for another 10 business days. I wanted to share this info in case it helps someone. I would have never known to apply with them with my scores if it wasn't for this board. Thanks Luke
You might wanna take another look at your report. Your score should never drop 50 pts from 1 inquiry. Something else must have changed...even "RNG" isn;t that crazy.
I have nothing else to explain that difference. Absolutely nothing changed on my report at all except I had an extra inquiry.
