"Approved! HSBC Gave Me A 2nd Chance"

Orchard Bank® Platinum MasterCard® Review
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Written by: suga78 on 2010-08-02

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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.


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?
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.
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.
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
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!
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