elyse449 Posted August 30, 2007 Report Share Posted August 30, 2007 Hi folks,I finally got my Orchard Gold card, lol! It's the unsecured card w/ a 300 cl. Here's the overall junk...The customary purchase APR is 14.90%If I go over my limit or fail to make a payment on time...the default rate is 30.49%! (Ouch, ok-I get the message-lol)There is a 79.00 yrly fee associated w/ this card. All the more reason to keep that utilization LOW, LOW, LOW. Overlimit fee-30.00, Returned payment fee 30.00, Returned check fee 30.00, Stop payment fee 29.00, research fees, replacement fee (5.00). etc, etc...wow...25 day grace period, min 2.00 finance,...credit limit increase fee is 50% of the amount of credit limit increase! WHOA! If you close this acct and leave a balance, they'll charge ya a 3.50 per month fee (used to be called maitenance fee)...But I am happy...just wanted to go over the agreement.Elyse Link to comment Share on other sites More sharing options...
Macwench Posted August 30, 2007 Report Share Posted August 30, 2007 Pretty hefty fees, but to rebuild that will help. If you pay it on time for a year, then before the annual fee comes due, you should be able to get better terms or close the account for a better card. Good luck with it!! Link to comment Share on other sites More sharing options...
whocares Posted August 31, 2007 Report Share Posted August 31, 2007 Just don't be late and you'll have no worries....I pay online it posts in a day or 2, they have a rush payment option as well, but that costs more.It's a good start...keep the usage low and they will report to all 3 cra's. You need to rebuild, take your timeCongrats by the way.... Link to comment Share on other sites More sharing options...
Amerikaner83 Posted August 31, 2007 Report Share Posted August 31, 2007 credit limit increase fee is 50% of the amount of credit limit increase!WTF??Be sure NOT to ask these @$$es for a CLI!Oh, almost forgot: Good job! Link to comment Share on other sites More sharing options...
Moriah4 Posted August 31, 2007 Report Share Posted August 31, 2007 Congrats on the card! But handle with extra special care Link to comment Share on other sites More sharing options...
Lyssarene Posted August 31, 2007 Report Share Posted August 31, 2007 Congrats!I used Orchard when I started rebuilding a few years ago. I would charge a tank of gas a month and just pay it in full the same night I charged it. I kept it for 1 year and was able to qualify for a better card/lower annual/higher limit. Link to comment Share on other sites More sharing options...
ladyjen80 Posted August 31, 2007 Report Share Posted August 31, 2007 Yay! Link to comment Share on other sites More sharing options...
SecretAgentWoman Posted August 31, 2007 Report Share Posted August 31, 2007 I think I'd rather keep my secured. It doesn't report secured, the annual fee is only $49, APR 14.9%, and CLIs are free - because I make them myself whenever I deposit more money in the savings account. In addition, I simply have a savings account that I am not touching, which is good, too.I got my secured card up to $1800 now and it's done wonders for my score, as well as making OTHER creditors think I'm ok to give a higher credit limit. Link to comment Share on other sites More sharing options...
whocares Posted September 2, 2007 Report Share Posted September 2, 2007 SAW I agree about it not reporting as secured...I think it has helped alot that I have never been late...never asked for a CLI...And I might even get one for hubby... Link to comment Share on other sites More sharing options...
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