approved for Orchard secured credit card...is this ok?

It's a start just keep you balance low or pay it off every month I'm assuming that it's not secured.

 

Think carefully about this.

1) what are the fees. ALL the fees.
2) with a $200 limit, a $100 balance will give you 50% utilization which isn't good.

It's possible that this could be a BAD move, if all you get is a $200 limit. If you charge $100 a month and pay it off as soon as you get the bill, you'll still be reporting 50% utilization because they update your credit report when they send you the bill, not when you pay it. You might need to pay it online BEFORE you get your statement, if you plan to use it.

Also, $200 sounds like an invitation to get hit with overlimit charges. $200 can be rung up without even breaking a sweat.

Just make sure you understand how you plan to use it and what you want to accomplish with it.

 

I agree with almost everything ccbob said, but I believe that the card isn't necessarily a bad deal. If your credit is that far in the toilet that you only qualify for secured cards, then get it and use it wisely. The best thing you can do with a $200 credit card is something simple, like charge your cell phone bill every month, then auto-pay the credit card from your checking account. If your cell bill is at or below $50 / month, you'll be at 75% utilization, which isn't horrible.

But above all else, be VERY, VERY careful. I can't stress that enough. If you can find a way to only charge $20 / month (and pay in full all the time!), you'll be on track to get a higher limit in about nine months.