Does orchard bank credit card really help rebuild credit? I just recently applied for one because my credit is really screwed up. Alot of collections and i am tryin to add some +ve to my account. Are there anything to watch out for with ORchard or there are better merchants PLS advice
My experience with Orchard has been good.......if you can be patient. Got my first card with a $300 CL. Charged, paid minimum, paid extra, charged, paid in full, charged, paid minimum, etc. 6 months later got a $150 increase. Over the course of the next year received $150 increases to a max of $950.00 CL. At the 1 1/2 year mark, I received an offer for their Platinum Card with a $1000.00 CL. With the new card I recieved checks with a 1.9% APR on anything I used the checks for until paid off (even cash). I also have the original card with another $100.00 increase for a total of $1050.00 on that card. In addition I received another "Pre-Approved" offer from them for another $1000.00 CL card. It was tempting but I declined due to the 'annual fee' of $79 for each card. They do report the CRAs albeit sometimes a month or so behind but they report. Don't bother asking for CL increases...they will give them to you when you've been good for a while. So like I said if you are 'good' and patient, this isn't a bad card to have. Yeah the CL's are $3500 or $5000 but it's a nice little card to have to build good history and the 1.9% checks are a nice touch if you need them.
