Orchard Credit Card Review
The Orchard
credit card seems to be quite popular as many people have been searching for
it. I wanted to see for myself why this was and I decided to complete a review
of this credit card. Seeing that so many of you search this card on a daily
basis, I thought it would be one fantastic card. But at first glance what I
found was pretty average.
What Does
HSBC Offer In The Orchard Card
The Orchard
credit card range seems to cater for people with bad credit. You can tell by
some of the features such as reporting to the three major credit bureaus. When
you look at the target group and compared to some other bad credit credit cards
on the market, I must admit that the rates aren’t that bad.
There are four
main cards offered and they are shown as:
Orchard
Bank Platinum MasterCard
This card
carries a maximum annual fee of $72 and for that price you can enjoy the
following benefits:
- Free online
account management tools
- Your choice
of payment due dates
- Zero
Liability Fraud Protection
APR varies
based on your credit history, but typical rates start at 8.90% - 18.90%. You
should also know there is a maximum set up fee of $29.
Orchard
Bank Prime Platinum MasterCard
There is no
annual fee on this card and the APR comes in at 15.99%. The benefits include
but are not limited to:
- 0%
Introductory APR for 6 months on Purchases and Balance Transfers
- Free online
account management tools
- You can
choose your payment due dates
- Zero
Liability Fraud Protection
The
Orchard Bank Gold MasterCard
Typical APR
ranges from 8.90% -18.90% and the annual fee would set you back between $39 -
$96. The benefits are listed as:
- Gold
MasterCard Benefits
- Free online
account management tools
- Zero
Liability Fraud Protection
Orchard Bank Secured
The APR on
this MasterCard ranges from 8.90% - 14.90% per year and while there is an annual
fee of $48 you don’t have to pay an account set up fee. You can deposit as
little as $100 to get your account up and running.
The benefits
are listed as:
- Improve
your rating as the Secured card reports to 3 major credit bureau
- Earns
interest on your deposit
- Choose your
payment due dates
- Enjoy zero
liability fraud protection
How To
Apply
You have two
options when in comes to applying for the Orchard Credit Card.
You can respond to pre approved email or letter sent to you or you can
visit the company website and fill in the online application form. This article
has all the relevant links to help you navigate the various cards.
You will
qualify for or be invited to apply for the card that best matches your credit
history.
So as you can
see, the features and benefits are not outstanding, but don’t get me wrong, the
card offering is still quite good, especially for the market being targeted.
When you
search and compare credit cards for bad credit on the market, you can find
cards with varying fees. So the offering from Orchard is not bad at all.
The popularity
probably relates to the ease of application and approval or the customer
service, I can’t say for sure, but people seem to really like these cards.
So this in a
nutshell is what you get out of your Orchard credit card. The good thing is
that the website has ample information for you to evaluate before making your
finance decision. This is always a good thing.
Before making
your final decision, be sure to
search and compare other credit card offers on the market. Make sure the
deal you finally choose is the best one for you.
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