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.
These cards include three unsecured cards and one secured card. Your score depends upon what card is offered to you. However you have a very high likely hood of being approved for a new line of credit.
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.
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 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.
This is an important factor when your score is being calculated. It makes up approximately 30% of your score.
These cards will also help to improve your ratio of available credit to debt. This is estimated to account for 30% of your score. It is how the bureaus check to see if people are in over their heads financially.
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 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. - 16955
They have a unique application process. They will match your credit score with the four cards they offer.
These cards include three unsecured cards and one secured card. Your score depends upon what card is offered to you. However you have a very high likely hood of being approved for a new line of credit.
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.
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 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.
This is an important factor when your score is being calculated. It makes up approximately 30% of your score.
These cards will also help to improve your ratio of available credit to debt. This is estimated to account for 30% of your score. It is how the bureaus check to see if people are in over their heads financially.
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 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. - 16955
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For more about the Orchard Bank MasterCard or for a review of the Continental Finance Credit Card another unsecured credit card visit us.
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