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ORCHARD BANK - SHOULD I REAPPLY?


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I applied for an orchard unsecured loan online, and was denied. I haven't received my letter yet. A lot of people on this site seem to like Orchard and say that their fees are fair. Should I reapply for a secured card. I really don't want another hard inquiry on my report, especially if thet they don't approve me for the secured on either. I thought I should wait for their rejection letter, to see if they made the offer of switching me to a secured card. Has anyone else had this situation with Orchard and can you give me some advice. THANKS!!

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I applied for an orchard unsecured loan online, and was denied. I haven't received my letter yet. A lot of people on this site seem to like Orchard and say that their fees are fair. Should I reapply for a secured card. I really don't want another hard inquiry on my report, especially if thet they don't approve me for the secured on either. I thought I should wait for their rejection letter, to see if they made the offer of switching me to a secured card. Has anyone else had this situation with Orchard and can you give me some advice. THANKS!!

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I thought I should wait for the letter to see exactly why they turned me down. I figured that since they also offer secured cards that they wouldn't miss out on an opportunity to pitch it to me. They might already have assigned some special code or something for that offer so they would

be able to take me through the process without rerunning the credit. That's why I was wondering if anyone else had recently applied for unsecured with them and been turned down so I wouldn't jump the gun by going right back online and reapplying. Any help?

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I thought I should wait for the letter to see exactly why they turned me down. I figured that since they also offer secured cards that they wouldn't miss out on an opportunity to pitch it to me. They might already have assigned some special code or something for that offer so they would

be able to take me through the process without rerunning the credit. That's why I was wondering if anyone else had recently applied for unsecured with them and been turned down so I wouldn't jump the gun by going right back online and reapplying. Any help?

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Guest jeeptravel

What was your score at the time? Wait until it is significantly higher (40-50 pts.) then call and reapply over the phone. Meanwhile . . .

Easy Credit to get at first when rebuilding to raise your score:

Target TL Card (not the VISA)

Jewelry Cards (Pay 30-60% down the first purchase)

Smaller Furniture Stores w/in-house credit (pay significant down)

Fingerhut

(Household/Orchard) For most people, this is a shoe in at 500+ credit score.

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Guest jeeptravel

What was your score at the time? Wait until it is significantly higher (40-50 pts.) then call and reapply over the phone. Meanwhile . . .

Easy Credit to get at first when rebuilding to raise your score:

Target TL Card (not the VISA)

Jewelry Cards (Pay 30-60% down the first purchase)

Smaller Furniture Stores w/in-house credit (pay significant down)

Fingerhut

(Household/Orchard) For most people, this is a shoe in at 500+ credit score.

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If I may add.... you should ask for reconsideration before outright reapplying.

When you apply online the program has certain triggers set in place to approve or deny based upon the limited information you provide, and how it deciphers your credit files into the equation.

By writing a letter and requesting reconsideration, a real live human being looks at your status.

I was declined for a Marshall Field's card, and when I called to inquire, the rep stated there was no reason she could see for the denial, and my card will arrive in a few weeks.

My 2 cents...

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If I may add.... you should ask for reconsideration before outright reapplying.

When you apply online the program has certain triggers set in place to approve or deny based upon the limited information you provide, and how it deciphers your credit files into the equation.

By writing a letter and requesting reconsideration, a real live human being looks at your status.

I was declined for a Marshall Field's card, and when I called to inquire, the rep stated there was no reason she could see for the denial, and my card will arrive in a few weeks.

My 2 cents...

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Thanks, I think I'll try that as soon as my denial letter comes in. I'm thinking that they should have turned it down because of not enough credit. I think all of the bad stuff is out now unless someone else has put something in there that I'm not aware of.

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Thanks, I think I'll try that as soon as my denial letter comes in. I'm thinking that they should have turned it down because of not enough credit. I think all of the bad stuff is out now unless someone else has put something in there that I'm not aware of.

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I finally got my letter this morning along with the application refund. There was no mention in there anywhere about applying for a secured card. I tried to call the number they gave me. It said to use the reference number on my letter when I spoke to the representative, but the promting service on the phone never gives you any options for talking to a rep! I tried to call a direct line for them, but that rep just referred me back to this same number. I sent them an email but I don't know if I will get a response. Has anyone else had this problem?

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I thought about that, but then they are going to have another hard inquiry on my file. I was hoping that they would be able to do this off of the original inquiry so my score will only get dinged once. I just checked my email and got 2 responses from them. One said they have received my email, the other one said per my request they were sending me a secured card application in the mail. They did not give me any info to contact a live rep on this. I could have done the secured app online like you said. The second inquiry is what I was trying to avoid. I guess they are not going to let me talk to a rep. I was going to apply for the secured one in the first place, but when I filled out the stuff online, they suggested the unsecured. I was hoping a rep could actually tell me that was eligible for a secured too. I don't see why I wouldn't be, but I have heard of people getting turned down for those too. If I reapply, and they still turn me down, then I have 2 hard inquiries on my report and no account to even show for it. I'm trying to get my credit established but I want to be smart about it and not end up with a whole bunch of inquiries that I can't get off for awhile.

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I got another email from Orchard, and finally got to talk to a live person. I'm updating here so that if anyone else finds themselves in this situation they will know what is what.

According to Orchard, even though they just pulled my report, they will have to pull it again on the secured card. I have to go through the application process all over again. They cannot do reconsideration on the initial app.

Hope this will help someone else.

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Maybe I'm doing something wrong. When I talked to the rep, they said I had to reapply to get the secured card , so I went back online.

When I put in my info, it would not give me the option to apply for the secured card. It keeps taking me to the unsecured classic visa.

I called customer service again and the rep told me that I couldn't apply for the secured online and that they would have to send me an app.

If anyone else out there has applied for a secured online, please tell me how you got to it. I know this card is worth getting, but this to be taking forever. They said my app would arrive in 7 to 10 days.

Any help appreciated.

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