What are the best unsecured credit cards for bad credit? I have an Orchard Bank card. They are good and give increases. I am looking for another one for emergencies.
Orchard Bank and I have parted ways as of today. 2 yrs no CLI, and everytime I called and the reps said yes it was no problem I would say oh great and how much is my increase... they would say you'll get a letter in 10 days... yeah that letter was "unfortunately....blah blah blah blah" I never paid late, NEVER went over the limit....never ran more than 30%....I guess they just don't like me or my credit is/was JUST that bad
You might try the CC search to the right of the board, good starting point. I would avoid or at least research 1st premier before going that route. When my credit was "real" bad any CC was only for emergencies.
I started off with an Orchard Bank Credit Card. After about 9 months, I got one through Credit One. They do charge an annual fee and to pay online also, so it isn't my favorite. I also have another from Direct Merchants Bank about that same time, which is also through HSBC, just like an Orchard Bank Credit Card. Finally, I got one a month ago through Juniper Bank. With a bankruptcy on my record and only being discharged 13 months, Juniper Bank gave me a $2,000 credit line and an 8.9% which seems to be a pretty good deal.
I think Orchard is a good transitional account, useful in moving from no credit to decent credit. Some feel it is best to keep the Orchard account open for a while to let it season and you develop " real " cards in enough quantity to create a solid score and history. Depending on Orchard for large CLI's makes absolutely no sense to me. Their card is useful for other reasons, not large CL's and great rates. Use them as a stepping stone to decent credit, then decide whether their rates and fees as worth it--when you have a choice.
