Orchard Bank Classic MasterCards

From the CompareCards.com Editorial Team:

Orchard Bank is rather well known for its innovations in the credit card industry that favor people who have some problems getting accepted for a mainstream conventional credit card. With this user-friendly Orchard Bank Classic MasterCard, for example, you get the convenience of carrying MasterCard plastic that earns you acceptance at millions of locations worldwide, including online retailers you may want to purchase from or use to make car or hotel reservations. But you can qualify for this card without having to have great credit, and there is even a secured version for those with rather poor credit.

You can also use your Orchard account to pay bills online, at no extra charge, and you can get email or text messages sent to you to automatically keep you updated about your available balance, upcoming scheduled payments, and so forth. The card also lets you rebuild damaged credit or create a create history track record if you do not yet have one because Orchard reports to the three major credit scoring agencies.

There may be an annual fee of up to $59 per year, although it is sometimes waived and may drop to as low as $35 after year number one. The interest rate will be based upon your credit worthiness and typically ranges from 14.90% to 19.90% for the standard credit card, although you can also get a secured version with an APR of 7.90%. With secured cards you either pay an amount equal to your line of credit as a cash deposit, or you pay a certain amount and are given credit that exceeds that value. For instance you may be asked to put in $200 to get a $200 credit ceiling, or if your credit is better you might be able to deposit $200 and get a $400 line of credit. It depends on your credit situation and a customer service representative can explain your options once you have applied for your Orchard card.

The Bottom-Line
This is a reasonably priced card for persons who may have average or below average credit and want tools and resources to help them manage their money, improve their credit, and enjoy credit card convenience. It is a MasterCard, so it is accepted all over the planet at both online and offline retail locations.

The Good
Those with weak credit can rebuild their credit with this card if they use it responsibly, and it is a reasonably priced credit card with the prestige and support of the industry leading MasterCard brand.

The Not So Good
There is an annual fee and there are no fancy perks or generous rewards with this card. So unless you are a prime candidate for a card that is lenient toward consumers who may have subprime credit then this is probably not your best choice.