payinbills Posted March 5, 2005 Report Share Posted March 5, 2005 I currently have no credit cards.I would like to get a card to aid in my credit repair.If you would please tell me what you think of this plan.My ex. fico is 534, my wifes ex. fico is 596Want to apply for an Orchard secured card.Will get one for me with wife as joint, and one for her with wife as joint.Keeping balance very low on each, will this secured card be beneficial to our credit/scores?Thanks!payinbills Link to comment Share on other sites More sharing options...
payinbills Posted March 5, 2005 Author Report Share Posted March 5, 2005 bump please...Also, looking through the online info, it didn't appear possible to add a joint person.Just get a card for each of us?Thanks!Payinbills Link to comment Share on other sites More sharing options...
Sultan Posted March 5, 2005 Report Share Posted March 5, 2005 Will get one for me with wife as joint, and one for her with wife as joint.how many wifes you got? -we know what you meanThat seems like a solid plan, have you considered doing it at the bank you trade with? most major banks offer a secured savings toward credit.And the ability to easily order a second card in a family members name.It should help your score if you use it some and ALWAYS pay it on time, never max it or over limit it. As i'm sure you know don't run the balance above approx. 33% or no more than 50%. Link to comment Share on other sites More sharing options...
creditdodger Posted March 5, 2005 Report Share Posted March 5, 2005 If you are considering your local bank, consider this: I applied with mine, BOA, for a secured card, and was turned down! I learned that secured doesn't necessarily mean that you will get approved. My scores were in the 580 range back then. I applied and got an Orchard card and I love it. It has been 6 months now and it has definitely helped my scores. Link to comment Share on other sites More sharing options...
direred Posted March 5, 2005 Report Share Posted March 5, 2005 I believe National City (which is a prime bank) has a better secured plan than Orchard.You have to call them for a paper application, though:800-762-0974Minimim is $250, max is $2500. Interest rate when I got the application was 15.24%. Link to comment Share on other sites More sharing options...
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