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Hey,

Orchard just will NOT show me love. I have a $200 secured card from almost 3 years ago. I repeatedly request for a conversion to unsecured and they repeatedly deny me. When I do the card selector, I get offered the Platinum card with 8.9% APR (grrr). So I apply, but denied because I also have a HSBC Best Buy card, and I am at the "max" number of cards with Orchard/HSBC. So I'm thinking about closing the Orchard secured and applying again for the Platinum. Anybody successfully done this? How long should I wait after closing to apply again? What kind of limits come with the Platinum? TIA!

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Hey,

Orchard just will NOT show me love. I have a $200 secured card from almost 3 years ago. I repeatedly request for a conversion to unsecured and they repeatedly deny me. When I do the card selector, I get offered the Platinum card with 8.9% APR (grrr). So I apply, but denied because I also have a HSBC Best Buy card, and I am at the "max" number of cards with Orchard/HSBC. So I'm thinking about closing the Orchard secured and applying again for the Platinum. Anybody successfully done this? How long should I wait after closing to apply again? What kind of limits come with the Platinum? TIA!

I posted in a thread about having the same issue with Orchard/HSBC. As it turned out in my situation, the "you have too many accounts" wasn't the true reason why I was declined. It took calling OB and talking to a supervisor in the approval department to find out the real reasons. Now I'm in the process of a BBB complaint, FTC complaint and AG complaint. ;)

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DISCLAIMER: It's late... I am dead tired and been drinkin xbeer), so I apologize if some of this doesn't make sense....

I repeatedly request for a conversion to unsecured and they repeatedly deny me
That would totally peeve me off. I only plan on using Orchard to get some history and get my scores up. I figure having control over what limit shows will help me greatly.

I believe Orchard unsecured starts at around $300. If possible, increase your Orchard limit (1k or higher if possible, even if just temporarily) and try them again, or apply for a better card. Having the higher limit should increase your score and I bet they would be more willing to change your account to unsecured if your current limit was higher than their minimum (just a hunch). Most of the stories I hear with people having their secured go to unsecured had secured limits of $500 changed to $300 unsecured, or secured limits of $1000 or more changed to $500 unsecured.

In my case, I am going to increase my limit to around 2k or so, get better cards, and most likely close the Orchard account. I just opened mine last month though, so losing that line after 3-4 months won't be so bad. Your situation is a bit different with it being such an old account. You can always keep it around just for when you want to apply for something else, then give yourself the temp score boost by increasing the limit that month, making it look like a 3 year old higher limit card x:-). I dunno, just a suggestion. I think the alcohol is talking now... GOOD LUCK!!

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Hey,

I'm thinking about closing the Orchard secured and applying again for the Platinum. Anybody successfully done this? How long should I wait after closing to apply again? What kind of limits come with the Platinum? TIA!

We could prob give you better advice if we knew more about your credit situation. What are your scores like? How many baddies? What are your goals?

-r

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We could prob give you better advice if we knew more about your credit situation. What are your scores like? How many baddies? What are your goals?

-r

FICO Scores:

TU - 589

EX - 569

EQ - 571

Major baddies - all falling off Summer '08 (finally!!!):

BOA (MBNA) CO + Calvary collection from 2001 ~ $2K

Americredit Repo + Calvary collection from 2001 ~ $9K

First Bankcard CO from 2001 ~ $1K

Other recent baddies:

University of Phoenix $640 (will try to PFD soon)

Verizon $132 (will try to PFD)

Goodies (in order of oldest):

Orchard $200 (3/2005), Credit One $400, Target $500, Merrick Bank $800, Best Buy $300, Hooters $1000, Walmart $150, Capital One $300, Macy's $300 - All current/never late - approx. 75% util right now (tough times) but will be back down below 30% by end of year

$9K student loans in current/deferred status

My major goal is to buy a home in 12-18 months. Also will probably need to finance a car soon (3-6 months). I'll deal with the high interest rate until baddies fall off and I can refi.

So being that Orchard is my oldest positive TL, should I keep it open? I'm confused if closing TL's loses history, or just hurts your score because of utilization.

Any and all advice is welcome and extremely appreciated.

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