www.orchardbank.com
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 But they have withdrawn their offer, and it is no longer available.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.