Well, maybe they use somehting like score plus actual outstanding collections. I also just thought of another thing. Maybe if you already have a card or loan through HouseHold that could be a grounds for not qualifying. I know with other places you are not allowed more than one item secured by their bank. Oh well, I hope I did get the card because I am trying to get atlease four by summertime so that I have 5 open items in good standing by the winter so that I can qualify for a house. Thanks for all the input!!
Hmmm...I have a retail account through household...6500 limit 0 balance...good standing. They won't approve me for a card that doesn't have upfront fees. SCrew that. Hubby has best buy and comp usa...same goes for him. He has NO lates or derogs, but his file is only 4 years old.
That is very odd.... I guess with the scores you have, you don't need the orchard!! I am still cleaning up my mess here but, am coming close to being finished. I did have a loan with them a few years ago that was joint and had a few lates but, it is closed and paid off in full. I hope it get's approved though, I would hate to have waisted the inq.
Got approved from HH in 09/01. Not sure what my score was at the time, but I had one open collection account and an unpaid judgement. My car is financed through Household Automotive Finance Corp. Not sure if they are affiliated...My initial credit line was $300. It was raised to $450 6 months later, then to $650 six months after that. Apparently if you ask for an increase and accept a CLI in between the six month reviews, there is a fee that is charged. Good luck! Lisa
To those of you who recieved the Orcchard Card, how big of hit did you take on your scores? I want to apply for a mortgage on a rental property later on in the year so I'm working to get my score up. My scores are: Experian 629 Equifax 631 transunion 627 I have 5 derogs and 7 positive accts. My derogs include two thirty day lates, one charge off (Cap one) and one settled for less than owed, and an old delinquent student loan. Should I even waste my time?
Quote: "That is very odd.... I guess with the scores you have, you don't need the orchard!! I am still cleaning up my mess here but, am coming close to being finished. I did have a loan with them a few years ago that was joint and had a few lates but, it is closed and paid off in full. I hope it get's approved though, I would hate to have waisted the inq." Funny, but I still have a ways to go before I am considered to have good credit. As far as the # goes, look on the website. That is my best guess.
much obliged. When HH will offer me a fee-less card, then I MAY take them up on it. Until then, I will plug away at improving my scores.
I just received my Orchard card in the mail this weekend. I applied online. They pulled a soft and a hard on Experian (NY). My score was 606 before the inquiry and 558 after the inquiry. I got reccommended for the Orchard card after the soft and after the hard they said they needed more time to process the application. 3 weeks later I got an email saying I was approved. The card came with a $300 limit. I had a settled Household finance account on my credit report that was being incorrectly reported as an unpaid charge off, but I was still approved. My credit has 5-7 unpaid charged off accounts all listed within the past year. I got the classic account, $49 application fee. Hope that helps someone Luke P.S. My wife got a pre approved Household offer in the mail that she took advantage of. They pulled a soft on Experian and a hard on Equifax when she took advantage of the offer.
To the above question my MBNA is a goldpoints reward card with a 9.9%. I still cannot believe orchard bank. Someone got approved with the low 400s? Others get approved with 6 collections. I get turned down with no collections, 1 paid chargeoff from 4 years ago, and 25 positive accounts. They must flip a coin or something.
WOW your credit took that much of a hit. Yikes. I am thinking maybe I should not have done that. Did you have excessive inq's already? Thanks for the info!!
