Just got an Orchard Bank Gold card offer in the mail. Here is what it says: *0% on purchases through 9/07 *Goes to 14.9% APR *Annual Fee $39 *Late Fee $30 and over the limit fee $30 At present I have a discharged BK as of 9/04 and my only credit is a car loan with on time payments since taken out 11/04, deferred student loans (approx $50,000), and a mortgage with on time payments since taken out 9/06. My goal is to improve my credit and keep my ontime payments so that I can refi my home in 8/08. Should I take the card and for those of you that have dealt with Orchard, what are my chances of getting it (FICO's 600-650 range).
You'd get it, no question. However, I'd opt for Union Plus (HSBC) and maybe apply for a Juniper Bank or even a WAMU product. Hooters (Merrick) is also an option as is Patelco Credit Union. Secured is also another viable avenue. There is no guarantee you'd get any of the above but with your scores, you're in range.
