Jump to content

Orchard Secured card Vs BOA

Recommended Posts

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.

Link to comment
Share on other sites

This topic is now closed to further replies.

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.