Orchard Bank:

Pros: higher maximum credit limit($15,000),lower required deposit($200) deposit is linked to a savings account that yields interest, lower interest rate (14.9%?)

Cons: Higher annual fee: ($39), Longer time it takes to convert (18 months), no rewards or purchase protection feature

Bank of America:

Pros: Easier to apply for if you're a BOA customer, lower anuual fee ($29), balance transfer capable(providing if there is available credit), fastest conversion time of all secured cards (9 months) More reputable (largest CC issuer in the world)

Cons: Higher minimum deposit($300), deposit doesn't gain interest.

Bank of America shows the fastest results, but Orchard Bank also is an excellent card to build credit with as well. I would reccomend both if you can.

Orchard has a pre selector website that lets you know you qualify for certain cards and they do not hit you with any inquiries unless you submit the actual app.

This would be the way to go.

https://www.hsbcapply.com/start/orchardbank

If they state you do not qualify and do not hit the submit button. If they state they can offer you something go for it.

During the miserable 13-months I had that infernal card, they NEVER increase my credit line even after several requests and they never will, it doesn't matter how perfect your credit reports are.

Orchard Bank is a predatory lender. If you threaten to close the account if they do not increase your credit, they will rather close the account than give you a credit line increase.

Good Luck!

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.