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