Why Choose Orchard Credit Card?
For people that are looking to rebuild their credit, or establish a new credit report, Orchard Bank offers some excellent solutions. If you have a few blemishes on your credit file or maybe have very bad credit, you probably already know that getting a new line of credit can be extremely challenging. Fortunately, there are some credit institutions that offer credit to people with bad credit, such as Orchard Bank. They offer a great variety of options when it comes to credit cards.
Applying for a Credit Card at www.orchardbank.com is very simple, easy and hassle-free. Orchard Bank offers a secured credit card, cash back credit card, premium low interest card, classic, gold and platinum. Each Orchard Credit Card is designed to fit the financial needs of just about anyone with no credit or bad credit.
Secured Orchard Credit Card
Orchard Bank Secured MasterCard and Orchard Bank Secured Visa Card are given out to customers with no credit or poor credit or as a starting point to build credit or rebuild bad credit. A minimum $200 deposit is required to open an account (your deposit will earn interest). The Secured Orchard Credit Card limit is equal to the amount of the security deposit that you put up. This is the main reason why the credit card interest rate charged is fairly low (7.90% APR on variable purchase and balance transfers).
You'll be able enjoy the very same services and benefits and as with an unsecured credit card and only you and the bank will ever know that your have a secured credit card. Your account activity will be reported to the three major credit bureaus and you will have 100% protection from unauthorized use of your card. Variable Penalty APR is set at 29.49% and the annual fee will be waived for the first year ($35 per year thereafter).
Orchard Bank Visa Credit Cards
These Credit Cards are designed for people that are looking to repair their FICO score and they include: Orchard Bank Secured Visa Card, Orchard Bank Visa Card, Orchard Bank Gold Visa Card and Orchard Bank Platinum Visa Card. The annual fees charged on these cards go from $19 to $59 per year depending on the type of the card.
Secured visa card has variable purchase and balance transfer interest rate of 7.90% APR and for the unsecured visa credit cards the interest rate varies from 14.90% to 19.90% APR depending on the card type. Cash advance fee is 5% (minimum $5 charge) and balance transfer fee is 5% (minimum $5 charge). Variable penalty APR is 29.49% and One-time account processing fees range from $0-$39 based on your credit score.
Orchard Bank MasterCards
In addition to a Secured MasterCard if you only have a few blemishes on your credit report you can be approved for an unsecured Orchard credit card. If you still want to be issued the secured card instead there is no problem with that. The Orchard Bank MasterCards have the same interest rates, terms, annual fees, and other charges such as the Orchard Bank Visa Cards above and are quite a bit lower compared to other credit cards for bad credit on the market.
Available Orchard Bank MasterCards
Orchard Bank MasterCards have been used over the years by many people to rebuild bad credit after a foreclosure or bankruptcy or build a new credit file. They come with all of the Credit Card benefits and you can use them to rebuild your credit history or to build new credit. The available Orchard MasterCards are: Orchard Bank MasterCard, Orchard Bank Gold MasterCard and Orchard Bank Platinum MasterCard.
There are also the Credit Cards for the environmentally conscious people which include: Orchard Bank Online ecosmart Gold MasterCard and Orchard Bank Online ecosmart Platinum MasterCard. The fee structure (interest rates, processing fees, annual fees, penalties, etc.) is the same as the Orchard Bank Unsecured Visa Credit Cards that we discussed above. Orchard Credit Card is a great choice for people applying for their first credit card or people with bad credit score.
Due to the current state of the economy, there seems to be a lot of people in need of bad credit help. This is their target market and the interest rate on their credit cards can be as low as 7.90% for a secured card, 14.90% to 19.90% for the unsecured card and can go as high as almost 30% for a penalty interest rate. Some people might think that those interest rates are a bit high but actually they are quite good when compared to other credit cards for bad credit. So, therefore we can conclude that the Orchard Credit Card is a great tool to have when repairing a bad credit score.