| There are few more stressful things than | | | | rental service. The Platinum MasterCard |
| dealing with dinged credit. Millions of | | | | has a $39-$59 annual fee based on credit |
| Americans have experience with it, so | | | | worthiness. The Platinum card has the |
| there is a large pool of experience and | | | | most (relatively) stringent credit |
| options to draw from. The important | | | | history requirements of these four |
| thing to realize is that if you are | | | | cards. |
| determined to repair your credit, the | | | | The Orchard Bank Gold MasterCard - The |
| right tools are available to help you. | | | | Orchard Bank Gold MasterCard extremely |
| One option is The Orchard Bank | | | | similar to it's Platinum cousin. With a |
| MasterCard. | | | | maximum initial credit line of $1000, |
| What to Expect in General | | | | the Gold MasterCard has the same |
| There is no "one-size-fits-all" | | | | features, but a slightly higher annual |
| explanation for choosing credit cards to | | | | fee of $79, and a processing fee of $19. |
| fix up your FICO score. There are, | | | | As far as relative strictness goes, the |
| however, a few general expectations | | | | credit guidelines for the Gold card fall |
| across the category. Whether it is true | | | | in the middle of Orchard's lineup. |
| or not, credit vendors consider lower | | | | The Orchard Bank Silver MasterCard - You |
| FICO scores as higher risk. That pretty | | | | guessed it: Silver. It's the logical |
| much means two things: higher interest | | | | next step. And just like the Gold and |
| rates and lower credit limits. | | | | Platinum MasterCard, the Silver offers |
| You can expect to see that for at least | | | | all of the same features, albeit with a |
| the first year of the rebuilding | | | | $49 annual fee in addition to a $49 |
| process. Initial credit limits will be | | | | process fee. We expect to see more |
| anywhere from $250 to $1000, most likely | | | | approvals on the Silver, but probably |
| somewhere toward the middle or lower | | | | with higher interest rates and lower |
| end. The third feature to expect from | | | | limits. |
| this category, including Orchard's | | | | The Orchard Bank Secured MasterCard - |
| cards, is an annual fee in addition to | | | | The Secured card is the bedrock of |
| precessing fees. These fees are one of a | | | | rebuilding bad credit. If you have |
| few ways that banks mitigates the risk | | | | trouble getting approved for the other |
| of default. | | | | offers, the this is the way to go. |
| What to Expect from Orchard | | | | Secured cards, as the name implies, |
| Orchard Bank, a branch of credit giant | | | | require a security deposit prior to |
| HSBC, has an industry-wide reputation as | | | | usage. Typically companies, including |
| a "go-to" card for those seeking to | | | | Orchard Bank, will ask for 100%-200% of |
| repair their credit. Orchard Bank offers | | | | the desired credit limit upon approval. |
| a few features across its credit card | | | | The Orchard Bank Secured cards look and |
| products. Firstly, they promise an offer | | | | act just like a regular credit card, and |
| after the application process. While | | | | with time, can lead to unsecured cards |
| that may not mean an unsecured card, | | | | with increased limits. |
| they do have relaxed approval | | | | In general, all Orchard Bank cards share |
| restrictions to get almost everybody | | | | some common features. If you stay on top |
| started. They offer an array of cards | | | | of your payments and refuse to let |
| with different levels of obligations and | | | | yourself get behind, then these cards |
| credit requirements. Here are their | | | | will help you rebuild your credit; they |
| primary offerings: | | | | do so by reporting to the three major |
| The Orchard Bank Platinum MasterCard - | | | | credit bureaus every thirty days. This |
| As the "Platinum" moniker might suggest, | | | | gives you an opportunity to show that |
| this is the top of the line option from | | | | you can handle credit card debt. These |
| Orchard. The Platinum MasterCard comes | | | | cards are accepted at over 22 million |
| with every feature somebody recovering | | | | locations, and can get you a cash |
| from bad credit could hope for. The | | | | advance on over 770 thousand ATMs. |
| Platinum MasterCard will offer a | | | | Since it's inception, HSBC has helped |
| slightly higher credit limit and lower | | | | over 2 million Americans take the first |
| interest rate for its users, and nice | | | | step toward rebuilding their credit. |
| features like hotel reservation and car | | | | |