Just applied and was approved for an Orchard card. 18.9% plus $59 annual, no processing fee. Haven't seen the CL, but suppose it will be $300 according to most posts here. Not sure what Orchard pulled, except that it probably wasn't TU. Later the same day, applied for US Bank Platinum after checking TU FICO. Received approval for the Classic 5.9% fixed for 6 months, then variable (currently 13.9%), $3,000 CL, no annual fee. My question is should I simply not activate the Orchard card, call them, and say never mind? Or, is it advisable to keep it for a good TL? Can I even do that after accepting the card? If I get stuck with having to pay the $59 annual, I should probably keep it for 11 months. Any Orchard experts out there? EQ FICO is 560, EX about the same (haven't seen the actual score yet), and TU a whopping 738. TU took me by surprise, and immediately starting shopping TU only pulls. FYI, tried BofA and they pulled EX. I'm in Southern CA.
I dont know Orchard from first-hand experience, but most companies will let you cancel the card and not pay the annual fee, so long as you havent used the card yet. Another thing you might try is to call them and tell them you dont want to pay the annual fee, tell them you dont want to pay for credit and that you have other cards without a fee, they may waive all or part..not sure tho. Congrats on the US Bank card.
Congrats on the US Bank, as this is a prime lender. I would dump Orchard if you can. Give them a call and if they say yes, keep an eye on them as they may still try to bill you for the annual fee. Remember to get this all in writing. Best regards, Mirage
