For a couple years I have had a secured Orchard Bank card that has worked well to improve my credit so I decided to call them and see if I could have the card change to a "regualar" credit card. I was told that I couldn't but that I should apply for a new card online. So that was what I did. During the online process, a screen comes up saying something to the effect of, you have a good chance of being approved for this card, so I went ahead and completed the process. Low and behold, I got denied, I couldn't believe it. I come to find from the letter that I got yesterday was that I was denied because I apparently already have the maximum number of cards from Orchard Bank!! I wish that they had told me this because then I would not have completed the application and not gotten the inquiry. On the brighter side, I did apply for a Bank of America Credit Card, and was approved with a $1500 limit!
That's not right if I were you I would call them back and ask for a manager. What if you closed the secured card?
Actually, the better your FICO scores get the less likely HSBC's subprime subsidaries are to approve you. I've seen people in the 700's get the "pre-approved" offer for only a secured Orchard or Household account. In short, they know their demographic and realize that most will move when given ample opportunity. If you're getting approved for Bank of America products, consider yourself done with the likes of Orchard and Household.
I kind of figured that but I get mself crazy about inquiries now, lol. It is amazing though with pre-approved offers that most times if you call and ask what the criteria is for getting approved most companies have no idea.
