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 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 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 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%.
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.
For your information it is rumored that once a negative mark on your credit report ages four years it has much less weight on your credit score. However if you remove negative items from your report and create a positive payment history your credit score will jump substantially.
In sum no matter what your credit history is; bankruptcy, judgments, charge offs, collections you can be approved for an Orchard Bank credit card. This card can be used to repair your credit score by creating a positive payment history and improving your ratio of available credit to debt. - 15224
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 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 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 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%.
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.
For your information it is rumored that once a negative mark on your credit report ages four years it has much less weight on your credit score. However if you remove negative items from your report and create a positive payment history your credit score will jump substantially.
In sum no matter what your credit history is; bankruptcy, judgments, charge offs, collections you can be approved for an Orchard Bank credit card. This card can be used to repair your credit score by creating a positive payment history and improving your ratio of available credit to debt. - 15224
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