Details Of The Orchard Bank Gold MasterCard Application

The Orchard Bank Gold MasterCard is designed for the average person who has an average or limited credit history. Card holders like this card because it does not require a deposit to secure the credit card account. A deposit is required when opening many other secured credit cards.

The Orchard Bank Gold MasterCard, which is issued through HSBC Bank Nevada, N.A., has an annual fee of $79. Although this may seem like a lot, it is actually average for this type of card. The card’s variable APR of 15.90% is quite reasonable, but can be costly for anyone carrying a balance from month to month. The variable APR on cash advances, however, jumps significantly to 24.40%! There are, of course, finance charges for any purchases that are not paid for within the first 25 days, and there are charges for other services like cash advances. Fees are also charged when you go over your credit limit. There is no minimum or maximum credit limits on the Orchard Bank Gold MasterCard.

Another fee that is associated with this card is an application fee of $19. That means anyone who applies and receives the Orchard Bank Gold MasterCard can expect to pay $98 in various fees in the first 12 months.

There are some nice benefits associated with this MasterCard, too. There are no charges if you’d like to add an additional card to your account. You will get many common cardholder benefits like emergency card and cash replacement, lost and stolen card reporting, and the cardholder is not liable for unauthorized transactions on the card. This card also reports to the credit bureaus, so you can build a better credit history if you use your Orchard Bank Gold MasterCard wisely and make your payments on time.

So, the Orchard Bank Gold MasterCard has a reasonable APR and gives many with average credit an opportunity to build a solid credit history. Although it does charge a hefty annual fee, it may be a good card to look into.

The Lowdown on the Orchard Bank Secured Credit Card

When your credit history is proving to be a hindrance to your financial well-being, perhaps it is time for you to get a secured credit card. One of the cards worth your consideration would be the Orchard Bank MasterCard secured card issued by the HSBC Bank of Nevada.

This card targets customers with poor or limited credit ratings, and aids them towards improving their credit histories. A secured credit card works by requiring the card holder to deposit cash into their credit card account prior to utilization. This way, this credit card prevents its card owners from incurring more debt whilst helping them re-establish their credit history.

An additional advantage unique to this card is that the deposits in the account are paid interests by the bank. In the effort to establish a healthy credit rating, customers must bear in mind that late payments must be avoided, and they have to be aware of the current annual percentage rate for the card as the APR of the Orchard Bank Secured Credit card is based on a variable rate. Although, the regular rate now stands at 15.90%, the actual rate is dependent on the Prime Rate. APRs for cash advances are higher than most cards at 23.40%, with a minimum rate of 19.99%.

Interestingly enough, the annual fees for the Orchard Bank Secured Credit Card is lower than other most unsecured credit cards. Balances above $1000 will only incur fees of $35 whilst card holders who have charged more than their credit limits will only be charged only $29. Also, there are periodic reviews of the credit limit for each account, so regular payments will enable the card holder to obtain higher credit limits and at the same time improving their credit history.

Finally, the Orchard Bank secured credit card also offers a lot of perks not evident in other competing credit cards. These would include Internet services, emergency replacements for stolen cards as well as numerous protection services against fraud and identity theft.

For more information or to apply for the Orchard Bank Secured Credit Card, Eric Wasselman recommends Find Credit Cards.

The Lowdown on the Orchard Bank MasterCard

Having a bad credit history may greatly affect a user’s future credit card applications, at least for the next seven years down the road. With tainted, poor or bad credit history, there are only two options left for the down-on-its-luck credit card user: go with cash or get the Orchard Bank Silver MasterCard.

One of the few credit cards that will not shun card users with bad credit histories, the Orchard Bank MasterCard offers a multitude of privileges all over the world within 22 million locations. In addition, the card aids in the rebuilding of good credit reports as it is also responsible for reporting to all three credit bureaus on a monthly basis, thereby strengthening its users’ credit scores.

Apart from that, the user is also not held accountable for unauthorized charges, thus making it a great tool for shopping on the Internet. In fact, the Orchard Bank MasterCard users are also able to access their online account 24 hours a day, as well as make bill payments with the card without a usage fee incurred.

However, getting approved for a credit card does not mean that users should go on a spending spree, not especially with this card. For starters, a high annual fee of $49 and an application fee of another $49 are imposed, resulting in total fees payable of $98 within the first year of using the card.

Additionally, interest rates of the Orchard Bank MasterCard are charged based on a variable annual percentage rate (referencing to the Prime Rate), which ranges from between 15% to 17%. Also, the APR for cash advances stands at 24%, with an additional 5% of cash advance fee (or a minimum of $5) applicable for each cash advance transaction.

Finally, the Orchard Bank MasterCard has an interest-free grace period of 25 days for payments to be made. Once the grace period is over, there will be a $30 late payment fee chargeable for every $1000 outstanding balance and a $35 fee for balances over $1000. Surpassing credit limits are also a big no-no as users will be charged an extra $30 for this. Evidently, for every good bargain, there are always strings attached.

Bad Credit Credit Cards - Simple Facts

Bad credit credit cards are certainly not going to have the best interest or fees, but this type of credit card might be the only option available if you have had past credit problems. The interest rates on credit cards for bad credit are usually much higher than on cards designed for good credit.

These types of programs are especially designed for people that have a poor financial history and do not qualify for a regular card. If you are a young consumer just starting to build credit, or if you have had delinquencies that have damaged your credit history, you probably can still qualify for credit cards that are geared to your situation.

Bad Credit Programs

Credit card programs for bad credit are available online with secure applications, First Premier Bank and Orchard Bank are two of the most popular. These programs are often divided into "secured" cards that do need a deposit and sometimes "unsecured" credit cards are available, an unsecured bad credit credit card probably will come with much higher interest rates, sometimes 15 to 30 percent and much higher participation fees.

This type of bad credit offer gives people with a poor credit score or no history a way to acquire credit or establish a financial history. If you keep your balance under the allowed limit and make your monthly payments on time, you may become eligible for much lower interest rates and fees. This just might improve your credit score.

Interest

There are can be many temptations by having a credit card and if your using credit to hold you over in tight times, remember it's only a temporary relief as the interest on bad credit credit cards is extremely high. Shop around and to find the best deal, with an interest rate that you're sure you will be able to pay. Probably the single most important factor of picking this type of card is the interest rates charged, especially for consumers who will be rolling over their balances from month to month.

Tips

The consumer must always keep in mind that credit cards designed for bad credit are extremely easy to use, so do not go over-board or you might find yourself in a worse situation with your credit standing. Check out the interest rates and participation fees before you start filling out applications. Remember don't apply for every offer there is as this will also effect your FICO score, only choose two of the best deals you can find.

Orchard Bank MasterCard - Reviewed

The Orchard Bank MasterCard gives many advantageous while still reporting to the major bureaus. They give you an opportunity to choose from a variety of MasterCard offers so that your card matches your financial needs and situation.

You will have the flexibility of using it at millions of locations worldwide, including ATM's. With other applications, you submit your information for just one offer.

When you fill in their form, they process the information and then determine which you are actually best qualified for. You won't need to worry about being turned down, because there is even a secured card with guaranteed approval.

However if you qualify for more than one, then you decide which one you want. It is up to you.

For qualified applicants, they offer a six-month introductory 0% APR for purchases and balance transfers. This can help get your spending under control by not having to pay interest for six months or consolidating several of your current bills into one payment.

Account Management

An account is very simple to maintain and control. You will have access to your information twenty-four hours a day.

You can check your purchase and payment history and keep track of your balance in just minutes with their online account management system. Paying your bills on time is critical if you want to strengthen your credit.

You get to choose your monthly payment due date, giving you the freedom to select a due date that works for you. When you sign up for text messages and email alert service, you will receive reminders about upcoming due dates.

Bill Payments

You can set up monthly payments by scheduling them through your account. Set up one-time, recurring, and even payments that will be processed immediately with their Rush Pay service.

With automatic payments you can set up your schedule and then let Orchard Bank do the rest. They want you to have a good financial foundation.

And by letting you know which offers you will likely qualify for before you submit an application. It will help you eliminate unnecessary inquiries, which can lower your credit score.

The online account management tools will guide you towards effective financial control. They will regularly review your account status and increase your limit when practical, giving you more purchasing power and demonstrating to the bureaus that you are a responsible consumer.