Orchard Bank Card
The Orchard Bank MasterCard is created for individuals with a damaged credit report. This card is issued by HSBC Bank.
This card has a unique application process. When you apply they will match your credit score to one of four sub prime credit cards.
These cards are three unsecured cards and one secured card. If you are looking for a second chance with your credit then you should apply because you are guaranteed to be approved for one of these cards depending upon your score.
If you have a very damaged credit history then you will be approved for the secured card. With this card you make a deposit and you are issued a credit card with a corresponding credit limit.
This card will work just like an unsecured card, meaning you will have monthly payments. Your APR will be between 8.9% and 14.9%. This is lower than most bad credit cards that carry an APR of roughly 19%.
If you have made only a few mistakes with your credit you can be approved for an unsecured credit card. However if you still want to be issued the secured card instead you can be.
The unsecured cards will have some fees like a 19$ account set up fee with one of the cards. These cards also carry an APR between 8.9% and 18.9%.
The fees that come with the Orchard Bank cards are much less than any other bad credit credit cards. In addition they offer much lower interest rates too.
All four of these cards do report monthly to the major credit bureaus. By using your card responsibly you can create a positive payment history.
This is an important factor when your score is being calculated. It makes up approximately 30% of your score.
Also your ratio of debt to available credit will improve. This ratio is a way for the bureaus to see if an individual is in over their head. It carries considerable weight when your credit score is being calculated.
You should know that once a bad credit item on your report ages four years it will have much less influence on your score. However we do still encourage you to remove bad credit items from your report.
In sum if you need a second chance with credit we do suggest the Orchard Bank credit cards. They have helped over 2 million people, and used responsibly can improve your score substantially.
This card has a unique application process. When you apply they will match your credit score to one of four sub prime credit cards.
These cards are three unsecured cards and one secured card. If you are looking for a second chance with your credit then you should apply because you are guaranteed to be approved for one of these cards depending upon your score.
If you have a very damaged credit history then you will be approved for the secured card. With this card you make a deposit and you are issued a credit card with a corresponding credit limit.
This card will work just like an unsecured card, meaning you will have monthly payments. Your APR will be between 8.9% and 14.9%. This is lower than most bad credit cards that carry an APR of roughly 19%.
If you have made only a few mistakes with your credit you can be approved for an unsecured credit card. However if you still want to be issued the secured card instead you can be.
The unsecured cards will have some fees like a 19$ account set up fee with one of the cards. These cards also carry an APR between 8.9% and 18.9%.
The fees that come with the Orchard Bank cards are much less than any other bad credit credit cards. In addition they offer much lower interest rates too.
All four of these cards do report monthly to the major credit bureaus. By using your card responsibly you can create a positive payment history.
This is an important factor when your score is being calculated. It makes up approximately 30% of your score.
Also your ratio of debt to available credit will improve. This ratio is a way for the bureaus to see if an individual is in over their head. It carries considerable weight when your credit score is being calculated.
You should know that once a bad credit item on your report ages four years it will have much less influence on your score. However we do still encourage you to remove bad credit items from your report.
In sum if you need a second chance with credit we do suggest the Orchard Bank credit cards. They have helped over 2 million people, and used responsibly can improve your score substantially.
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For more about the Orchard Bank Credit Card or for a review of the Continental Finance MasterCard another unsecured credit card visit us.
posted by Credit Counseling at
7:10 AM
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