Orchard Bank Offers Innovative Incentives

I have seen a number of innovative promotions created by credit card companies. We have all heard of earning points to exchange for great rewards such as air travel, car rental, and hotel stays. Many credit cards also offer cash back rewards in the form of earning back a certain percentage of what you spend. In addition, many offer discounts when making purchases with certain partner stores. But, I was really impressed with the creative thinking Orchard bank demonstrated back in April and May of this year.

The bank found a way to not only reward their cardholders, but to encourage them to spend even more on their credit card. This is because they offered new applicants a free investor starter kit from ShareBuilder along with a $30 bonus in their investment account. Unlike many partnerships such as these, where getting something “free” requires signing up for a membership that you really didn’t want in the first place and paying out more than what you receive, applicants were under no obligation to sign up with ShareBuilder or to even open an account. But, with so many perks associated with ShareBuilder, there really is no reason NOT to take advantage of the free starter kit.

ShareBuilder makes it easy to participate in long-term investing. You can make simple automatic investments to the account from your personal savings or checking account. This money can then be applied toward index funds, stocks, and even some bond funds. You are not obligated to make a minimum investment and you aren’t charged a fee for having an inactive account. So, if you go through a period where you cannot add more funds to the account, it’s no problem! This is a unique feature when compared to other online investment accounts. In addition, investment transactions only cost $4 per trade, which is quite low.

As an added bonus, this special promotion provided new applicants with a one year subscription to Money Magazine for free as well as a copy of The Automatic Millionaire. Both of these publications come in quite handy when it comes to learning how to make your money work for you.

Although this particular promotion is already passed, you might want to check into Orchard Bank MasterCard offerings. You can try for a silver, gold, or platinum card. Or, if you financial situation is a it rough or if you have college student who needs a card, you might want to apply for the Orchard Bank secured credit card. A company that is this in tune with its customers will be sure to continue offering great perks.