Why Orchard Bank Credit Card?
Orchard Bank offers great solutions if you are looking to rebuild your credit, or establish a new credit file. If you have bad credit or maybe have a few blemishes on your credit report, soon you're going to find out that getting a new credit line can be quite challenging. Fortunately, there are some great options that are available out there, such as Orchard Bank. They offer a great variety of credit cards such as cash back credit card, secured credit card, premium low interest card, classic, gold and platinum. Each fit the financial needs of just about anyone with bad credit or no credit. Applying for credit at www.orchardbank.com is very straight forward, simple and hassle-free.
Orchard Bank Credit Card Services
Orchard Bank Secured MasterCard can be given to customers with poor credit or no credit as a stepping stone to build credit. This Orchard Secured MasterCard requires a deposit that is equal to the credit card limit. As a result the credit card interest rate charged is fairly low (7.90% APR on variable purchase and balance transfers). Only you and the bank will know that it is a secured credit card and you'll be able enjoy the same benefits and services as with an unsecured credit card. It reports to 3 major credit bureaus and earns interest on your deposit while giving you 100% protection from unauthorized use. Variable Penalty APR is 29.49% and there is a minimum $200 deposit that is required to open an account. The good news is that the annual fee will be waived for the first year and is $35 per year thereafter.
Orchard Bank Visa
These Orchard Bank Visa Credit Cards are designed for people looking to rebuild their FICO score: Orchard Bank Platinum Visa Card, Orchard Bank Gold Visa Card, Orchard Bank Visa Card and Orchard Bank Secured Visa Card. The annual fees on these cards vary from $19 to $59 per year depending on the card type. Variable purchase and balance transfer interest rates vary from 7.90% APR for Secured visa card to 14.90% and 19.90% APR for the unsecured visa credit cards. Processing fees range from $0-$39 and variable penalty APR is set at 29.49%.
Orchard Bank Online ecosmart MasterCards are a great choice for giving back to the environment. They are made with bio degradable materials and you can enroll your account online to receive your statements electronically instead of by mail. Email alerts will notify you of your payment due dates and account. You earn 2 points for every dollar you spend on purchases with your credit card and you can redeem them for ecofriendly rewards, gift cards or cash back.
The available Orchard Bank ecosmart MasterCards are: Orchard Bank Online ecosmart Platinum MasterCard, Orchard Bank Online ecosmart Gold MasterCard and Orchard Bank Secured MasterCard. The interest rates, processing fees, annual fees, penalties, etc. are almost identical as the above described Orchard Bank Visa Cards.
Orchard Bank Classic Cards
Orchard Bank Classic Cards have been used over the years by many people to build or rebuild their credit history. They come with all of the benefits that the above mentioned cards have and you can use them on a daily basis to build or rebuild credit at the same time. The available Orchard Bank Classic Cards are: Orchard Bank Platinum MasterCard, Orchard Bank Gold MasterCard, Orchard Bank MasterCard and Orchard Bank Secured MasterCard. The fee structure is very similar to the credit cards that we discussed above.
Orchard Bank Credit Card Overview:
Orchard Bank approves loans for people with bad credit or people applying for their first credit card. This is their target market and due to the current economic situation, there seems to be more people than ever before in need of bad credit help. On the other hand, they can charge high interest rates on their cards to their customers. The credit card interest rate can be as low as 7.90%, however, it can go as high as almost 30% for a variable penalty APR interest rate.
If you have a non-existing or poor credit, you need to make sure that the credit card you applied for fits your current financial needs. If you have good credit, you probably wouldn't want to go down this route because there are many other much better options for people with good credit. Orchard Bank Credit Card is only recommended for those people that don't have the best credit score as a great tool when fixing bad credit.