Credit Cards – Credit Card Offers

Review of the Orchard Bank Credit Card

Written by elliottavatar

For credit card shoppers with no credit or a credit history filled with black marks, Orchard Bank offers a solution. Orchard Bank’s credit cards, which are issued by HSBC Bank Nevada N.A., are meant to appeal to people of all credit scores, with varying options based on these scores. The card has a 7.99 percent variable purchase APR on its secured credit card, and its $35 annual fee is waived for the first year.

Orchard Bank offers a number of other cards to fit the credit profile and needs of each member. The platinum card has a variable purchase APR of 14.99 percent or 19.99 percent, and an annual fee of $39 or $59. The gold card has a variable purchase APR of 19.99 percent, and its annual fee is $49 the first year and $59 afterward. Orchard Bank’s standard card has an APR of 19.99 percent or 24.99 percent, and its annual fee is either free or $29 the first year, and $59 afterward. Compared to other sub-prime cards, Orchard Bank rates and annual fees are well below the norm.

The card’s terms also make it easy for first-time cardholders, or those with bad credit, to build up a solid history. To start, Orchard Bank screens applicants and approves them for cards based on the score, and the entire application process taking only about a minute. Once cards are approved and issued, Orchard Bank reports cardholder history and payments to major credit bureaus, allowing their credit scores to improve. As the cardholder’s score improves, Orchard Bank will allow them to move to cards with lower interest rates and annual payments. To help along the way, Orchard Bank offers free reminders of upcoming payments, customized alerts when the card nears the spending limit and a customer service center. It also has 100-percent protection against identity theft and fraud.