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The Orchard Bank Credit Cards: For Less Than Perfect Credit

There are few more stressful things thanrental service. The Platinum MasterCard
dealing with dinged credit. Millions ofhas a $39-$59 annual fee based on credit
Americans have experience with it, soworthiness. The Platinum card has the
there is a large pool of experience andmost (relatively) stringent credit
options to draw from. The importanthistory requirements of these four
thing to realize is that if you arecards.
determined to repair your credit, theThe Orchard Bank Gold MasterCard - The
right tools are available to help you.Orchard Bank Gold MasterCard extremely
One option is The Orchard Banksimilar to it's Platinum cousin. With a
MasterCard.maximum initial credit line of $1000,
What to Expect in Generalthe Gold MasterCard has the same
There is no "one-size-fits-all"features, but a slightly higher annual
explanation for choosing credit cards tofee 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 expectationscredit guidelines for the Gold card fall
across the category. Whether it is truein the middle of Orchard's lineup.
or not, credit vendors consider lowerThe Orchard Bank Silver MasterCard - You
FICO scores as higher risk. That prettyguessed it: Silver. It's the logical
much means two things: higher interestnext 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 leastall 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 beprocess fee. We expect to see more
anywhere from $250 to $1000, most likelyapprovals on the Silver, but probably
somewhere toward the middle or lowerwith higher interest rates and lower
end. The third feature to expect fromlimits.
this category, including Orchard'sThe Orchard Bank Secured MasterCard -
cards, is an annual fee in addition toThe Secured card is the bedrock of
precessing fees. These fees are one of arebuilding bad credit. If you have
few ways that banks mitigates the risktrouble getting approved for the other
of default.offers, the this is the way to go.
What to Expect from OrchardSecured cards, as the name implies,
Orchard Bank, a branch of credit giantrequire a security deposit prior to
HSBC, has an industry-wide reputation asusage. Typically companies, including
a "go-to" card for those seeking toOrchard Bank, will ask for 100%-200% of
repair their credit. Orchard Bank offersthe desired credit limit upon approval.
a few features across its credit cardThe Orchard Bank Secured cards look and
products. Firstly, they promise an offeract just like a regular credit card, and
after the application process. Whilewith time, can lead to unsecured cards
that may not mean an unsecured card,with increased limits.
they do have relaxed approvalIn general, all Orchard Bank cards share
restrictions to get almost everybodysome common features. If you stay on top
started. They offer an array of cardsof your payments and refuse to let
with different levels of obligations andyourself get behind, then these cards
credit requirements. Here are theirwill 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 fromyou can handle credit card debt. These
Orchard. The Platinum MasterCard comescards are accepted at over 22 million
with every feature somebody recoveringlocations, and can get you a cash
from bad credit could hope for. Theadvance on over 770 thousand ATMs.
Platinum MasterCard will offer aSince it's inception, HSBC has helped
slightly higher credit limit and lowerover 2 million Americans take the first
interest rate for its users, and nicestep toward rebuilding their credit.
features like hotel reservation and car



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