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Orchard a Prime Card ??

Discussion in 'Credit Talk' started by dinob12, Jan 3, 2002.

  1. Jan 3, 2002 #1
    dinob12

    dinob12 Well-Known Member

    Well I recieved my Orchard Bank Card today with a limit of $500 and a annual apr at 9%..Kinda funny i think..Now I have

    FCNB 900 limit 18.90% opened 5/01
    Providian $400 limit 23.99% 4/01
    Getsmart $500 limit 16.9%apr 6/01
    Cross Country $1500 limit 18%apr 6/01
    Orchard $500 limit 9%apr 1/02
    Joint Orchard $500 limit 18.9% 07/01
    Target Visa Au $4500 limt 16.9% 09/01
    New Diamante 15.9 apr Wells Fargo 12/01

    Last March I had no credit but bad credit....

    Anyway I wonder how I qualified for the APR I got with Orchard...My scores back in Nov were around the 580 point..I do not want anymore cards..And is this card a prime card ? I am hoping to apply for a Citi card in June what are my chances...I have never been late on any of my credit cards...
     
  3. Jan 3, 2002 #2
    superadman

    superadman Banned

    It's a fluke because Orchard is certainly subprime
     
  4. Jan 3, 2002 #3
    Ron

    Ron Well-Known Member

    Orchard is a subprime card from Household Bank and GM Card is prime card from Household Bank.


    Ron.
     
  5. Jan 4, 2002 #4
    miles

    miles Well-Known Member

    Prime & subprime, what distinguishes the two? From what I can understand it is the interest rate, fees and credit limit.
    Orchard is historically a subprime issuer, but the card you have from them has prime terms. Assuming there are no other fees associated with it. Good deal.
     

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