"Approved! HSBC Gave Me A 2nd Chance"
Orchard Bank® Platinum MasterCard® Review
Written by: suga78 on 2010-08-02
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
suga78's review: 
I'm in the process of paying off all bad credit card debt from college. I had an HSBC card in 2004 that I recently paid off late last year.
On 7/28, I received a pre-selected offer from Orchard Bank and decided to give them a go because I have no credit cards at the moment (I had an Aspire card but the program was closed).
I applied online and waited anxiously during the 60 second decision. However, it informed me that my application will have to be reviewed and I will be notified within 10-14 days. I took this to mean that my application was declined. The next day, I received an email from Orchard reiterating that my application was received and under review, and told me that I can check the status of the application online. I decided to check and I found out that I was approved!
On 8/2 I checked my bank account and the processing fee of $19 has been deducted, so I should be getting my card soon!
Credit scores: EX 532; EQ 570; TU 544. They pulled my Equifax credit report.
I'm in the process of paying off all bad credit card debt from college. I had an HSBC card in 2004 that I recently paid off late last year. On 7/28, I received a pre-selected offer from Orchard Bank and decided to give them a go because I have no credit cards at the moment (I had an Aspire card but the program was closed).
I applied online and waited anxiously during the 60 second decision. However, it informed me that my application will have to be reviewed and I will be notified within 10-14 days. I took this to mean that my application was declined. The next day, I received an email from Orchard reiterating that my application was received and under review, and told me that I can check the status of the application online. I decided to check and I found out that I was approved!
On 8/2 I checked my bank account and the processing fee of $19 has been deducted, so I should be getting my card soon!
Credit scores: EX 532; EQ 570; TU 544. They pulled my Equifax credit report.
5 Comments
Comment 1 by kdb030609
Congratulations!!! 
on 2010-08-02
Congratulations!!! On taking the first steps in the rebuilding process. What is your CL and APR?
on 2010-08-02 Congratulations!!! On taking the first steps in the rebuilding process. What is your CL and APR?
Comment 2 by suga78
Re: Approved! HSBC Gave Me A 2nd on 2010-08-02
Thanks, Kdb030609!
I'm pretty sure my credit limit is going to be $300. I tried to call and find out but I could not get past the automated system. The APR is 14.90% and the annual fee is $55 for the first year and $74 each year thereafter.
on 2010-08-02 Thanks, Kdb030609!I'm pretty sure my credit limit is going to be $300. I tried to call and find out but I could not get past the automated system. The APR is 14.90% and the annual fee is $55 for the first year and $74 each year thereafter.
Comment 3 by wanderer
Re: HSBC Gave Me A 2nd Chance on 2010-08-03
Congrats! Now move slowly in the world of credit. Let the Orchard Card help you bring your scores up. Also stay away from the "sub-prime" card issuers.
on 2010-08-03 Congrats! Now move slowly in the world of credit. Let the Orchard Card help you bring your scores up. Also stay away from the "sub-prime" card issuers.
Comment 4 by tknoxjr
Fee??? on 2011-01-18
Are you sure it was the platinum that you got, the reason I ask is because the regular and the gold card requires the $19 processing fee, I was approved for the platinum as well but did not have to pay a fee
on 2011-01-18 Are you sure it was the platinum that you got, the reason I ask is because the regular and the gold card requires the $19 processing fee, I was approved for the platinum as well but did not have to pay a fee
Comment 5 by phoenix
Re: Approved! HSBC Gave Me A 2nd Chance on 2013-08-17
Thanks for including the score with credit limit, helps one judge what they can expect before applying. Congrats!
on 2013-08-17 Thanks for including the score with credit limit, helps one judge what they can expect before applying. Congrats!
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Disclaimer: This content is not provided by Capital One Bank (USA), N.A.. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Capital One Bank (USA), N.A.. Review content is powered by Finance Globe.
