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 one of four cards they offer.
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 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 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.
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 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.
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. - 16928
They have a unique application process. They will match your credit score with one of four cards they offer.
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 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 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.
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 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.
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. - 16928
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