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Orchard Secured card Vs BOA


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I have both cards because I need 2 positive credit cards reporting. The BOA will unsecure quicker the Orchard because apparently Orchard is very stingy with unsecuring cards. However, BOA will report as secured which can hurt upon a manual review and Orchard will report as unsecured as HSBC (which is semi-prime lender at least)...

I personally got 1 of each and put the larger deposit on the secured BOA.

I also believe Orchard has a better interest rate if you plan on carrying a balance at all, but a higher annual fee 39.00 versus 29.00 with BOA.

If you were only going to get 1 I would suggest BOA because even though it reports as secured, when it unsecures there will be no evidence of it ever being secured in the first place and BOA is a prime lender.

Have you checked out Wells Fargo? They have a nice secured card as well. I believe annual fee is $18 with a slightly higher APR than BOA.

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