Orchard Bank Secured MasterCard
Plantation Land Bank MasterCard issued by HSBC Bank. It is designed for those with a damaged credit report.

Orchard Bank MasterCard
Orchard Bank Secured
www.OrchardBank.com
It gives them approval and will report to all three major credit bureaus. Just by paying your monthly bill on time you will be able to create a trail of positive payments on your credit report.
This is one of the most important information when your score is calculated. This is a secure card.

What is Secured Mean?
With a secure card, it means you made a deposit to secure your account in case of default.
This is how it works;
1. You apply for your card.
2. You make a deposit – min $ 200 max $ 15,000
3. So, you are issued a credit card with a limit on the size of your deposit.

For example lets say you deposit $ 500 then your credit card will have a limit of $ 500 You are still responsible for making your monthly payments.
Your deposit will earn interest and is fully refundable as long as you close your account on good terms.
Deposit only ensures the bank that they will get their money even if you stop paying.

Advantages:
* Reporting to all 3 Major Credit Bureaus
* Credit Limit ($ 200 – $ 15,000)
* Periodic Credit Limit Increases
* Choice of payment due dates

Orchard Bank Credit Card – Suggestion

Yes, we are proposing Orchard Bank Credit Card. But they have withdrawn their offer, and it is no longer available.

We assume that this is due to the sub prime lending collapse. Fortunately, there are some good alternatives.

We propose prepaid Visa account now. It will report to major credit bureaus give you a way to build credit.

It also comes with, free direct deposit, free credit builder, free bill pay, free activation & Self Let us lend you money.

About a year ago, I applied for an Orchard Bank MasterCard. I got it with a $ 300 limit, 14.9% variable APR and a $ 69 annual fee. After 6 months they upped my limit at 1 / 3 to $ 400 They recently sent me a better deal. An orchard bank 2% cash rewards card no interest for one year, 12.9% variable APR after that, but still a $ 39 annual fee. I did the math and I would have to spend $ 1,950 on the card to break even at 2% so that makes me kind of angry that they would send me a rewards program card with such a high annual fee that I would be need to spend so much just to make it 0 My question is, should I take the offer or wait for better conditions? If I take the offer, should I cancel the original card? How close a credit card account affect your credit score?

Answer:

1) cut them both up and throw them away —– trust me they are far more problems than they are worth

2) I agree, your rate sucks! There are many cards out there with no annual fee. My Visa card from my bank has no annual fee, and if I do not pay it off each month, my rate is 12? but I never get charged interest because I always pay it off and only use it for emergencies.

3) I had an Orchard Bank card and it was not a good idea. I had to cancel everything and pay it off. It is better to try to get something like a Capital One card if your credit is good enough for it.

4) Have you read all the charges they put on your credit card. You have 300.00 credit but they charge you $ 95.00 to process the application and other fees. At the time they are added to other charges, you only have 150.00 left on the card. Always read the charges before you apply for the card. I know because I was stupid enough to get one themselves. The goal is mostly old people, because they know they can not read to well.

5) If the Orchard bank gave you a card with $ 300 then your credit score is not too good. So you’re better off improving the card you were already in place to apply for a new one. First attempt to illuminate your annual fee. Inform them that you might consider closing your account because you no longer wish to pay your annual fee and you have received credit offers without such fees. It is very likely that HSBC Bank (real name of Orchard bank) will waive your annual fees after that threat. If they do not waive the fee then consider closing the account for real. If your annual fee waived the request credit limit increase. Remind them that your payment history with them is clean, and you deserve a better deal.

6) I am in the same situation. Believe me, you do not want to go there. Not even taking it. Wait for a better deal. They’re playing with you. If they see that you do not answer, they will certainly give you a better deal.

7) right now you’re paying your dues to build good credit. take the card, so you create more creditor relationships on your credit report. use cards sparingly, keep balances of $ 100 to make the payments. after about a year, you should start to get real credit card offers, and you wont need these awful cards anymore. dont close them if they refuse to waive the annual fee on the road. how long your creditor relationships appears on your report will play a factor in your score creditor.

For more information about Orchard Bank Credit Card relevant websites are orchardbank.com. etc.