Orchard Bank Classic MasterCard Review

The Orchard Bank MasterCard Secured is a wonderful option for people who have damaged credit who are interested in improving their scores. The way the secured card works is that applicants agree to open an FDIC secured bank account with a minimum deposit that will become their credit limit. The Orchard Bank card offers a way for people to either build credit or repair their damaged credit through appropriate channels.

Credit Check
Anybody with bad credit knows that a credit check will reveal their poor score and they will be denied credit. This has happened to so many people with damaged credit on so many occasions that it is no surprise these folks are gun shy when it comes to applying for a credit card, even a secured one. The good news with the Orchard Bank MasterCard Secured is that there is no credit check required. That is correct; no credit check will be performed to qualify for this card. You will qualify on your own merit as long as you provide a correct address, social security number, and deposit to secure the card.

Credit Limit
The minimum credit limit for this credit card is $200. The deposit you choose to make will secure your credit card limit in the same amount. This allows cardholders to determine their own credit limits and puts them in control of their limits.

Credit Reporting
Orchard Bank will report to all three credit bureaus. This is really good news for those with bad credit looking to improve their credit. This should also be taken very seriously because any mismanagement of the card or making late payments could backfire and have the opposite affect you were hoping for. So, if you are going to apply for this secured card be prepared to be responsible and work on increasing your credit score.

APR
The APR ranges and it's going to depend on which card that you apply for. You're going to notice that there's a selection that you can choose from.

Annual Fee
There is a range of annual fees. When you sign up on the application page, you're going to find that you can get everything from $30ish dollars to as much as $80. It's going to vary on your credit and application process.

Online Application
Individuals interested in this particular secured credit card may apply online at any time through a secure server.

What We Like About The Card

Low APR Rate: The Orchard Bank classic cards have a rather low APR compared to most other cards on the market. The nice thing about the application process is that they will give you either an unsecured or secured card based on your credit profile.

Low Fees: Let's face it. Most secured cards are going to have some sort of fees. With this Orchard Bank line of cards, you're going to find that the fees are relatively low. In fact, their annual fees tend to be some of the lowest in the industry.

Reports: The nice thing about this card is that it's designed for those that want to rebuild their credit. What you're going to find is that this Orchard Bank card is going to report to the major three credit bureaus, meaning you'll see your score improved slightly over time as long as you pay it off on time and manage your credi properly.

Liability Protection: Orchard Bank is going to make you feel more secure when it comes to your transaction. Be assured that no matter what happens to your card, you won't be liable for any transactions as Orchard Bank offers great protection.