The Orchard Bank credit card is issued by HSBC Bank. This is a sub prime credit card.
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 many negative items on your credit report you will likely be issued the secured card. With this card you must make a deposit and then your card will have a credit limit equal to the amount of your deposit.
This card is just like an unsecured card because you will still have to make monthly payments and have due dates. You will have an APR between 8.9% and 14.9%, which is low compared to the other bad credit cards.
If you have only made a couple of mistakes with your credit then you will likely be approved for an unsecured card. However if you prefer the secured card you can be issued that instead.
With the unsecured cards you will have some fees, such as a 19$ account set up fee for one of the cards. Your APR will be between 8.9% and 18.9%.
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 four of these cards do report monthly to the major credit bureaus. By using your card responsibly you can create a positive payment history.
A positive payment history will help to improve your credit score. It is estimated that this factor makes up to 35% 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.
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 many negative items on your credit report you will likely be issued the secured card. With this card you must make a deposit and then your card will have a credit limit equal to the amount of your deposit.
This card is just like an unsecured card because you will still have to make monthly payments and have due dates. You will have an APR between 8.9% and 14.9%, which is low compared to the other bad credit cards.
If you have only made a couple of mistakes with your credit then you will likely be approved for an unsecured card. However if you prefer the secured card you can be issued that instead.
With the unsecured cards you will have some fees, such as a 19$ account set up fee for one of the cards. Your APR will be between 8.9% and 18.9%.
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 four of these cards do report monthly to the major credit bureaus. By using your card responsibly you can create a positive payment history.
A positive payment history will help to improve your credit score. It is estimated that this factor makes up to 35% 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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