Orchard Bank Credit Cards
The Orchard Bank card is issued by HSBC Bank, one of the largest and most reputable banks. This card is designed for those with a damaged credit score.
They have a unique application process. They will match your credit score with the four cards they offer.
This includes a secured card and three unsecured credit cards. If you have made some mistakes in the past with your credit then you are guaranteed to be issued a card that corresponds to your credit score.
If you have made many mistakes then you will likely be issued the secured card. With this card you must secure it by making a deposit between $200 and $15,000, your credit limit will be equivalent to your deposit.
It works just like an unsecured card and you will have to make monthly payments. Your APR will be between 8.9% and 14.9%; this is much lower than most sub prime credit cards.
If you have limited damage to your credit score then you will be approved for an unsecured card. If you want to have the secured card instead you can still be issued that card.
The unsecured cards have an APR between 8.9% and 18.9%. One of the unsecured cards will carry a $19 account set up fee and you will have to pay a low annual fee.
However the fees associated with the Orchard Bank cards are dramatically lower than any other sub prime credit cards. In addition they have very reasonable interest rates compared to other bad credit cards.
All of these cards will report to the three major credit bureaus. With responsible use of your card you can build a positive payment history on your credit report.
This is very important to your credit score. It is estimated 30% of your credit score comes from your payment history.
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.
It has been learned that once a negative item on your credit report ages four years it has much less impact on your score. We do still suggest removing negative items from your report, in addition to opening a new line of credit.
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.
They have a unique application process. They will match your credit score with the four cards they offer.
This includes a secured card and three unsecured credit cards. If you have made some mistakes in the past with your credit then you are guaranteed to be issued a card that corresponds to your credit score.
If you have made many mistakes then you will likely be issued the secured card. With this card you must secure it by making a deposit between $200 and $15,000, your credit limit will be equivalent to your deposit.
It works just like an unsecured card and you will have to make monthly payments. Your APR will be between 8.9% and 14.9%; this is much lower than most sub prime credit cards.
If you have limited damage to your credit score then you will be approved for an unsecured card. If you want to have the secured card instead you can still be issued that card.
The unsecured cards have an APR between 8.9% and 18.9%. One of the unsecured cards will carry a $19 account set up fee and you will have to pay a low annual fee.
However the fees associated with the Orchard Bank cards are dramatically lower than any other sub prime credit cards. In addition they have very reasonable interest rates compared to other bad credit cards.
All of these cards will report to the three major credit bureaus. With responsible use of your card you can build a positive payment history on your credit report.
This is very important to your credit score. It is estimated 30% of your credit score comes from your payment history.
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.
It has been learned that once a negative item on your credit report ages four years it has much less impact on your score. We do still suggest removing negative items from your report, in addition to opening a new line of credit.
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 more information about Easy Credit Cards visit us.
posted by Debt Consolidation Loan at
5:56 PM
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