Orchard Bank Classic Mastercard

The Orchard Bank Classic MasterCard® is an ideal credit card for those with fair or average credit and also for those with limited credit history.

Orchard Bank Classic MasterCard®

Receive MasterCard® Privileges and Benefits
Reports to All 3 Credit Bureaus Monthly
Free Online 24-Hour Account Access and Bill Pay
Periodic Credit Limit Increases

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
0% on Purchases*	6 Months*	APR Varies*	$49*	N/A*	Poor Credit OK*

Editor's Review: The Orchard Bank Classic MasterCard is a card meant for those with fair credit or a limited credit history. It is distributed by HSBC Bank Nevada and is an alternative to a secured credit card, which often will not have a positive impact on your credit score.

Even though this card is meant for people without the best of credit, it still offers several notable benefits. For instance, the interest rate isn’t particularly high and there is a 0% introductory period for six months when you first get approved for the card. You also get more flexibility with this card than you would with a secured credit card. And since this card reports to the major credit bureaus, you will actually be helping out your credit score so long as you consistently make your payments on time.

Several other benefits are also available including emergency card replacement, stolen card reporting, and a no liability policy on all unauthorized transactions. To add to this card’s convenience, you can access your account online and can even select your payment due date.

The Orchard Bank Classic MasterCard has several highpoints, but it also has a few shortcomings you need to be aware of, including an annual fee of $49 and a one-time application fee of $49. In your first year as a cardholder you will spend $98 on fees, not including late fees or penalties, should you incur any. There also isn’t a benefits program to speak of with this card and while typical for cards of this type, it still may be a downside for some.

When you get down to it, the Orchard Bank Classic MasterCard is a solid offer for people with mediocre credit history or little history to speak of to improve their credit history in order to move onto greener pastures, so to speak. And unlike a secured credit card, this one reports to the three major credit bureaus, so your good credit status is constantly being updated. There are several benefits like a 0% introductory rate and a generally low APR, but the application and annual fees may be a bit of a turn off, especially for those strapped for cash.

So, if you will only carry a balance some of the time and really want to see an improvement in your credit score, fast, the Orchard Bank Classic MasterCard might be right up your alley.

(Review Date: July 24, 2008)


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