Orchard Credit cards

[badcreditsucks]

I recently received a Orchard Bank Mastercard with a $300 CL. Today I get a "pre-approved offer" for a Orchard Bank Visa. Being that I am in the process of rebuilding credit and need to show open lines of credit, etc., would it be to my advantage to apply for the Visa, or will Orchard deny me because I already have their Mastercard?

[edubb007]

I personally wouldn't apply again and it's most likely a mess up on thier end. I'm guessing!

Haven't seen that too much!

[Tourniquet416]

i just got the same thing, an orchard offer, when i just got their card. And Cap1 sent me a "pre-approved" although they just denied me, SO i guess it's just what they do.

[CleanUp81]

You also have to remember when you have the Orchard Bank card in your terms it says you can't apply for any more credit with Household Bank. So save yourself the hard inquiry. Use your card you have now and keep bumping those scores up each month. Eventually you'll get prime offers in the mail.

[devil21]

I had the same thing happen with Cap1. They ended up giving me 3 cards with low limits. Its an immediate trade-off because it lowers your avg age of accounts BUT adds positive pays. Over the long run, the more positive, low utilization lines the better. Can you afford to take a short term score hit for a long term gain?

Make sure to read the terms first though b/c most banks require 60 to 90 days between applications. The good part is that most offers are good for a month or two so you can put it on ice until the 60-90 days is up and get the second card. If its a high fee card, Id pitch it though.