The Orchard Bank Credit Cards: For Less Than Perfect Credit

There are few more stressful things than dealing with dinged credit. Millions of Americans have experience with it, so there is a large pool of experience and options to draw from. The important thing to realize is that if you are determined to repair your credit, the right tools are available to help you. One option is The Orchard Bank MasterCard.





The Orchard Bank Credit Cards: For Less Than Perfect Credit

There are few more stressful things than dealing with dinged credit. Millions of Americans have experience with it, so there is a large pool of experience and options to draw from. The important thing to realize is that if you are determined to repair your credit, the right tools are available to help you. One option is The Orchard Bank MasterCard.

What to Expect in General

There is no "one-size-fits-all" explanation for choosing credit cards to fix up your FICO score. There are, however, a few general expectations across the category. Whether it is true or not, credit vendors consider lower FICO scores as higher risk. That pretty much means two things: higher interest rates and lower credit limits.

You can expect to see that for at least the first year of the rebuilding process. Initial credit limit will be anywhere from 250 to $ 1000 U.S. dollars, probably somewhere in the center or bottom. The third feature to expect from this category, including Orchard's cards, is an annual fee in addition to precessing fees. These fees are one of a few ways that banks mitigates the risk of default.

What to Expect from Orchard

Orchard Bank, a branch of credit giant HSBC, has an industry-wide reputation as a "go-to" card for those seeking to repair their credit. Orchard Bank offers a few features across its credit card products. Firstly, they promise an offer after the application process. While that may not mean an unsecured card, they do have relaxed approval restrictions to get almost everybody started. They offer an array of cards with different levels of obligations and credit requirements. Here are their primary offerings:

The Orchard Bank Platinum MasterCard - As the "Platinum" moniker might suggest, this is the top of the line option from Orchard. The Platinum MasterCard comes with every feature somebody recovering from bad credit could hope for. The Platinum MasterCard will offer a slightly higher credit limit and lower interest rate for its users, and nice features like hotel reservation and car rental service. The Platinum MasterCard has a $39-$59 annual fee based on credit worthiness. The Platinum card has the most (relatively) stringent credit history requirements of these four cards.

The Orchard Bank Gold MasterCard - The Orchard Bank Gold MasterCard extremely similar to it's Platinum cousin. With a maximum initial credit line of $1000, the Gold MasterCard has the same features, but a slightly higher annual fee of $79, and a processing fee of $19. As far as relative strictness goes, the credit guidelines for the Gold card fall in the middle of Orchard's lineup.

The Orchard Bank Silver MasterCard - You guessed it: Silver. It's the logical next step. And just like the Gold and Platinum MasterCard, the Silver offers all of the same features, albeit with a $49 annual fee in addition to a $49 process fee. We expect to see more approvals on the Silver, but probably with higher interest rates and lower limits.

The Orchard Bank Secured MasterCard - The Secured card is the bedrock of rebuilding bad credit. If you have trouble getting approved for the other offers, the this is the way to go. Secured cards, as the name implies, require a security deposit prior to usage. Typically companies, including Orchard Bank, will ask for 100%-200% of the desired credit limit upon approval. The Orchard Bank Secured cards look and act just like a regular credit card, and with time, can lead to unsecured cards with increased limits.

In general, all Orchard Bank cards share some common features. If you stay on top of your payments and refuse to let yourself get behind, then these cards will help you rebuild your credit; they do so by reporting to the three major credit bureaus every thirty days. This gives you an opportunity to show that you can handle credit card debt. These cards are accepted at over 22 million locations, and can get you a cash advance on over 770 thousand ATMs.
Since it's inception, HSBC has helped over 2 million Americans take the first step toward rebuilding their credit.

Copyright Ed Vegliante. Free online reprints of this article are allowed provided the resource box remains intact with a live link back to credit-card-surplus.com .

Please click here to find Orchard Bank Credit Cards.

Ed Vegliante runs the website http://www.Credit-Card-Surplus.com , a well organized credit card directory enabling the consumer to compare and apply for a variety of credit card offers. View more Credit Card Articles.

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Credit Card Reward Programs - Merchants Lose, Consumers and Banks Win

Credit card rewards programs have grown at an astonishing rate. As consumers, we love to reap the benefits of our spending but few of us stop to think about who's paying our rewards.




Credit Card Reward Programs - Merchants Lose, Consumers and Banks Win

Frequent flyer miles, retailer discounts, cash back and more; if it exists, you can get a credit card to earn rewards for it. As the use of credit cards increases so too does the demand for cards that offer an added bonus. Rewards programs have virtually no negative aspects for issuing banks and they provide an incentive to consumers to use cards even when they have cash. Rewards programs promote card use which increases the banks' revenue from processing fees.

There's no denying that banks have created an excellent marketing tool by offering rewards, but with millions of cardholders accumulating rewards, who's paying them when they want to collect their bounty? The answer is perhaps to most ingenious aspect of credit card rewards programs.

Merchants provide the financial backing for the rewards that banks give away. Banks create expensive rewards programs that increase the use of credit cards, which increases the revenue they generate from processing fees, and they don't even have to pay for the rewards that they're offering.

Banks pass the cost of their rewards programs to merchants through mid and non-qualified processing fees. Visa and MasterCard maintain an Interchange Reimbursement fee schedule that dictates the fees a merchant pays to accept credit cards. Processing fees vary depending on the type of credit card that a merchant processes and the manner in which they process it.

The majority of merchant accounts generalize the more than 200 different interchange fee classifications into three main categories called qualified, mid-qualified and non-qualified with transactions that fall into the qualified category being charged lowest fees.

When a consumer uses a rewards credit card the transaction is downgraded, or bumped up to a higher fee category, and the merchant is charged more to process the transaction. The extra income that is generated as a result of the transaction downgrading is used by the issuing bank of the customer's credit card to pay for their credit card rewards.

For merchants, the ability to accept credit cards often translates to benefits such as higher average tickets, increased cash flow and even greater gross sales. The cost of accepting credit cards is justified by these benefits. This logic leaves many merchants searching for justification of the increased cost associated with credit card rewards programs. For banks, rewards programs increase revenue. For cardholders, rewards programs deliver cash back or other bonuses. For merchants, rewards programs increase processing costs.

Merchant account information to help MerchantCouncil.org business owners for their individual needs Resources think the best merchant account.

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Credit Cards For Bad Credit - 3 Features the Banks Don't Want You to Know

Credit Cards For Bad Credit that entice you with offers of rewards, incentives, and no deposit requirements aren't always as ideal as they appear. Knowing more about these three card features can save you from applying for the wrong credit card.




Credit Cards For Bad Credit - 3 Features the Banks Don't Want You to Know

When it comes to understanding the terms and conditions of all the credit cards for bad credit, the process can be challenging.  Choices tend to be limited and the interest rate and fees are higher.  Add to the confusing mix all the enticing offers of free rewards and perks and you have a real dilemma deciding which card to apply for. 

You'll find the majority of applications will be for a secured card where your credit limit is determined by the amount of your security deposit.  In this article, we'll study three little known features you should be aware of.

1)  Bonuses and Perks

When you see a credit card for bad credit with attractive offers cash back, discounts on products and services, free air miles and other bonuses, sounds pretty good right? Not so fast. Do not be misled by all these fantastic bonuses. study carefully the terms and conditions of the application. If you have to pay higher interest and annual fees of another card just to get benefits, go to the next question card. The money you save over time will allow you to purchase airline tickets or bonuses.

2)  Deposit Requirements

When researching card applications, you'll notice the deposit requirements will vary from bank to bank.  Some credit cards for bad credit require as little as a few hundred dollars to as much as a few thousand dollars.  Your limit is typically between 50% to 120% of your deposit amount.  If you come across a card that advertises no security deposit, beware!  Many banks who waive this deposit make up their profits by charging you hefty application fees, processing fees, and monthly maintenance fees.  If a secured card advertises a no deposit feature, study its disclosure of terms and conditions carefully to be see how it compares to other cards requiring a deposit.

3)  Conversion Feature

This unadvertised feature allows you the option to convert the status of your card from secured to unsecured after you establish a history of timely payments.  Banks who offer this option like to see a positive payment history of at least 6-12 months before considering the option of converting the card to an unsecured status. 

If you qualify for this conversion, you'll save a lot of money as a result of the lower interest rate and fees.  Just make sure the terms and conditions are comparable to other unsecured cards.  It if isn't, shop for another card.

Your choices of credit cards for bad credit may be limited, but with diligent searching, you can find a secured card with reasonable terms.  As you establish a positive payment history over time, you'll be able to qualify for low interest unsecured cards.

Bobby Tan is a debt management consultant helping people resolve their bad credit issues. Find Bobby's reviews of the hottest credit cards for bad credit at Bad Credit Card Tips web blog.

Get Bobby's free 33 Days To Near Perfect Credit course. Click - http://www.badcreditcardtips.com.

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Bank Secured Card - Will it Improve Your Credit Score?

Many people think that getting a bank secured card is a waste of time. The real truth is that it depends on what the terms are on the credit card application that you would sign. You see not all secured cards are created equal, so here are some things that you should make yourself aware of before you sign on the dotted line.




Bank Secured Card - Will it Improve Your Credit Score?

Many people think that getting a bank secured card is a waste of time. The real truth is that it depends on what the terms are on the credit card application that you would sign. You see not all secured cards are created equal, so here are some things that you should make yourself aware of before you sign on the dotted line. First off, if you're getting a bank secured card to help increase your credit score you need to be sure that it reports to the credit bureaus. Some cards report to all three major bureaus (Equifax, Experian and Trans Union). Others only report to one or two of them. The danger is if you sign up for a card that doesn't report to any of the Big Three. If the card doesn't report your positive payment history you wont get the benefit of a positive impact on your credit score.

As I just mentioned you want to have a positive payment history to report to the credit bureaus. This means if you're not in the position to use the card each month and make on time payments its probably not the right time to have any type of credit card, even a secured card. Although a secured card is a great option to monitor your spending habits and control your spending with predetermined spending limits, it still should not be abused.

The best way to safely use a bank card for an increase in your credit score will be for the average expenditure per month. At the end of each month, or whenever your billing cycle ends, you should be able to pay off the bulk of what you have charged. There is a little trick that you can use to make this have an even better benefit for your credit score. If you didn't notice I wrote pay off the bulk of what you charged, not all of what you charged.

I know this might sound crazy but when you make your payment don't pay off the entire thing. Always leave just a little bit on the card. Why the heck would I do that you might say? Well credit is a complicated animal.

When a bank reviews your spending and payment habits they look at every detail. If you always pay off everything that was charged each and every month it looks like there is no need for any additional increase in credit. While if you leave a little bit on the card each month, but still make all your payments on time, they see this as someone that is responsible with their credit and can manage their finances from month to month. Yes, this may cost you a few extra cents every month but the benefit to your credit score and an eventual increase in your credit limit will be the benefit.

So be sure to read the fine print. Don't get a secured card that doesn't report to all three major credit bureaus and most of all be sure to make on time payments so your credit score can increase.

An increase in your credit score could be just what you need. Getting a bank secured card could make this happen. Dietrich von Zittwitz is a credit expert and certified debt arbitrator. For more credit information go to http://creditrestorationexpert.com and find the answers you've been looking for.

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Bank of America Credit Cards - When it Comes to Credit, How Do Bank of America Cards Stack Up?

Bank of America Credit Cards are among the more popular bank cards you can get today. What are the benefits of these, and why are so many switching to them?




Bank of America Credit Cards - When it Comes to Credit, How Do Bank of America Cards Stack Up?

Are bank of America credit cards the right ones for you? obviously, everybody knows who bank of America is-only one of the largest banks in the country. However, what many people aren't as aware of, besides the fact that they obviously provide banking services and loan options, is that hey have their own credit cards as well.

So what are the varieties of credit cards that bank of America offers? Very simply, they have a wide variety, including sports credit cards, which are extremely widely used among sports fanatics, as you can display your team logo every time you use one.

Another of the most commonly used credit cards that bank of America offers is for military people, and generally offer very minimum interest rates, along with no yearly fees.

Obviously, they understand that military personnel don't have a lot of money to spend, not to mention they are much more likely to pay off their bills on time. therefore, they can afford to offer these specifically for them, and if you are in the military, you definitively want to look into getting one of these.

In particular, the main ones you should look into at all costs are rewards cards, as these give you reward points to use on great services or products such as TV's, airline tickets, and much more. If you do a lot of raveling, I'd highly recommend getting their rewards credit cards.

Remember, you're going to be spending the money either way, so why not get a benefit every time you do. As long as you don't go out of your way to spend more in order to accumulate more points, which would defeat the purpose, you will definitely benefit from these credit cards.

Of course, keep in mind that these cards aren't available to just anybody. Generally, you will have to have a high credit score in order to qualify, as you do with most bank credit cards. Not only that, but if you currently have a good credit score, and qualify for a bank of America credit card, then you get additional rewards for keeping it that way.

So what does a bank of America credit card come with? First of all, a nice twenty five grand line of credit, which is more than most people will be spending per month. You don't have to worry about getting over your credit limit anymore.

Also, you receive a zero percent introductory APR, another huge benefit. As with most cards nowadays, there is no yearly fee, so this isn't a huge selling point, but again, something worth considering.

You can be very confident that their identity will not be stolen with one of these cards, as they are known for their safety.

The bottom line is, if you do have a good credit score, then bank of America credit cards are definitely worth looking into. No, they aren't available to just anyone, but if you qualify, the rewards are more than worth it.

For more info on Bank of America Credit Cards, check out internetcreditinfo.comn - This is a popular online finance site that teaches how to improve your credit, the best credit cards that are guaranteed, eliminate debt, achieve financial freedom.

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How You Can Get a Credit Card Without a Bank Account

If you want to know how you can get a credit card without a bank account there is hope. One of the best options is to get a prepaid credit card.




How You Can Get a Credit Card Without a Bank Account

If you want to know how you can get a credit card without a bank account there is hope. One of the best options is to get a prepaid credit card. They are fully functional and are fairly easy to get and require no credit checks.

They work in the same way as major credit cards and they are accepted everywhere credit cards are accepted. There is no chance of overdrawing. The cards are pre-funded which means when a determined amount is spent the card has to be reloaded before it can be used again. Also there are not any limits on spending as with credit cards.

There are many other benefits to using a prepaid card such as the convenient spending power without any fees and high interest rates. Plus a prepaid credit card will help establish credit history.

Before you a prepaid credit card must be noted that the card offers the same rewards and incentives, such as credit cards and the card should all be accepted in the world and provide ATM access for cash withdrawals.

Also prepaid credit cards should have low APR rates and offer customer support. It is extremely important to have good customer support with these type of cards in case a problem arises.

There are a wide variety of prepaid cards available to choose from and comparisons of features and rates should be made before the final decision is made.

Prepaid cards are an excellent choice for those who do not have a bank account.

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The Lowdown on the Orchard Bank Secured Credit Card

When your credit history is proving to be a hindrance to your financial well-being, perhaps it is time for you to get a secured credit card. One of the cards worth your consideration would be the Orchard Bank MasterCard secured card issued by the HSBC Bank of Nevada.




The Lowdown on the Orchard Bank Secured Credit Card

When your credit history is proving to be a hindrance to your financial well-being, perhaps it is time for you to get a secured credit card. One of the cards worth your consideration would be the Orchard Bank MasterCard secured card issued by the HSBC Bank of Nevada.

This card targets customers with poor or limited credit ratings, and aids them towards improving their credit histories. A secured credit card works by requiring the card holder to deposit cash into their credit card account prior to utilization. This way, this credit card prevents its card owners from incurring more debt whilst helping them re-establish their credit history.

An additional advantage unique to this card is that the deposits in the account are paid interests by the bank. In the effort to establish a healthy credit rating, customers must bear in mind that late payments must be avoided, and they have to be aware of the current annual percentage rate for the card as the APR of the Orchard Bank Secured Credit card is based on a variable rate. Although, the regular rate now stands at 15.90%, the actual rate is dependent on the Prime Rate. APRs for cash advances are higher than most cards at 23.40%, with a minimum rate of 19.99%.

Interestingly, the annual fees for Orchard Bank Secured Credit Card lower than most unsecured credit cards. Balances above $1000 will only incur fees of $35 whilst card holders who have charged more than their credit limits will only be charged only $29. Also, there are periodic reviews of the credit limit for each account, so regular payments will enable the card holder to obtain higher credit limits and at the same time improving their credit history.

Finally, the Orchard Bank secured credit card also offers a lot of perks not evident in other competing credit cards. These would include Internet services, emergency replacements for stolen cards as well as numerous protection services against fraud and identity theft.

For more information or to apply for the Orchard Bank Secured Credit Card, Eric Wasselman recommends Find Credit Cards.

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