Unsecured Credit Card Application Online
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Unsecured Credit Card After Bankruptcy - Get Credit Today!
Author: Ben Xenoo
An unsecured credit card after bankruptcy is something that is still available even in the current financial climate where credit is much harder to come by. Many believe an unsecured credit card after bankruptcy is an ideal option for starting to rebuild your credit score. Perhaps now more than ever more people are going through the bankruptcy process. More people than ever before also have less than average credit scores. The big lenders may have turned their backs on those with damaged credit histories but credit is still available for most if you know where to look.
Lenders who offer credit to those with below par credit scores do in effect treat their customers as a bad risk. This is why you will pay at least a little more for your credit and your initial credit limit may be modest. As you keep making your repayments on time your credit score will improve and in most cases your lender will be prepared to offer you more credit.
Many who have a damaged credit rating may not want further exposure to debt by taking on an unsecured credit card after bankruptcy so they opt for a secured credit card. This type of cards gives you all the benefits of a credit / debit card but without the exposure of running up debt. You simply load funds onto the card and use it as a normal credit card. You can use it to shop online or purchase fuel just as you would a normal card.
Unsecured Credit Card Application Online
If you do decide that an unsecured credit card after bankruptcy is for you please ensure that you only take on credit you are sure you can afford!
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Which inquieries deduct more from your fico score- bank inquiery (for unsecured debt) or credit card inquiery?
Bank inquiery- unsecured line of credit etc.
Credit card company-american express, chase, capital one etc
Thank you
2 hours ago
I would like to know exactly how many points each inquiery takes off the score, bank inquiery (filling out application for unsecured line of credit etc) or credit card company online application for credit card?
Thank you
One inquiry will not have more harm than another. It is more the number in a period of time rather than the type. Because your score is made up of several factors is it impossible to tell you exactly the drop for each one. However, if you have only 1 or 2 in a short period of time you can expect about a 3-8 point drop for each one. If you have more than that the effect will probably be greater.
The one exception to this is a Auto or Mortgage loan. Here you are allowed to do “rate-shopping” so they will count all your inquiries for these(14-days for auto, 30 days for mortgage) as a single inquiry.
I applyed for an Orchard Bank card & was approved, but I not sure what type of card it is. ?
I applyed for an Orchard Bank card last week because I need to get my FICO score up and rebuild my credit. I paid the $19 processing fee and my account has been approved according to the website, although I have no received an email yet, or the card.
This is what the website says:
YOU’RE APPROVED!
Congratulations! Your application has been approved.
You have been approved with a credit limit of $ 300.
Thank you for choosing us as your credit partner. Your online application is now complete.
You will receive a confirmation email with customer service information. The email will also contain instructions for checking the status of your application if your application is currently in review.
Enjoy the buying power you deserve!
My question is… do you think this is a secured card, or an unsecured card? Has anyone had a response like this?
Orchard Bank is an unsecured credit card. Orchard is owned by Household Bank, which also supplies unsecured high interest credit cards to people with eithe no credit, or bad credit that are trying to rebuild their credit.
Wlhen the card arrives, it will arrive with documents detailing the interest rates, grace periods, etc. There are no annual fees for having an Orchard card. Keep all the documentation, you never know when you may need it. As you spend and pay off the card every month your credit limit will increase.
The response you got was standard and not out of the ordinary in the least. If you have already been approved, you need to overlook the bit about your application being in review. That is only there because some of the people who apply for Orchard cards need to be examined carefully because it IS a card typically applied for by people with past bankrupcies, judgements, etc, but you seem to be just fine.
Just sit back and wait for your card to arrive.