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Home > Credit Cards > Orchard Bank Classic MasterCards®

Orchard Bank Classic MasterCards®

Snapshot of Card Features:

  • An excellent credit card for help rebuilding credit reports to 3 major credit bureaus monthly!
  • Acceptance at millions of locations worldwide, including website purchases and reservations
  • Your account information is updated and at your fingertips 24/7 so you can manage it your way
  • Email and text messages are available to remind you of your upcoming payment due date
Intro AprBalance TransferOngoing APRAnnual FeeCredit Needed
N/A14.99% or 24.99%, or 7.99% for secured cards 14.99% or 24.99%, or 7.99% for secured cards $39 or $59 for the first year, or $0 - $49 Introductory the first year, then either $35 or $59 per year thereafterPoor - Bad
No Credit
 

Our Expert Review

Rates & Term Details

Complete Card Details
For the complete terms and conditions, view this card's Schumer Box

What is a Schumer Box?
A Schumer Box includes the following rate and term information for all credit cards:

  • Annual Percentage Rate (APR) for purchases (or interest rate)
  • Other APRs - interest rates for balance transfers, cash advances, default, etc.
  • Variable rate information (if applicable)
  • Grace Period
  • Finance calculation method
  • Finance Charges
  • Annual Fee (if applicable)
  • Other fees - transaction fees, balance transfers, cash advances, late payments, over-limit, etc.

Important
Always read the terms and fees disclosure provided by the credit card issuer on their site before applying. The issuing bank's terms may include more detailed or updated information than presented here.

Notes
*View Orchard Bank Classic MasterCards® card rates, fees, rewards and other important information.


Beverly Harzog - November, 2011

The Orchard Bank Classic MasterCards, issued by Capital One (USA), N.A., are designed to help you rebuild credit if you have a poor credit history. This card is also suitable for someone who is trying to establish a credit history. Consumers are pre-qualified for either an unsecured or a secured card. There are four card types: Platinum, Gold, Standard, and Secured.

Benefits

Getting pre-qualified for a card doesn't affect your credit score and you don't have any obligation to accept the card you're offered. This issuer reports to all three major credit bureaus, so if you use your card responsibly, you can improve or establish your credit history.

Rewards

Rewards do not apply to this card.

Balance Transfers

There's a 5 percent balance transfer fee. For unsecured cards, you get either a 14.99 percent to 24.99 percent (V) APR. For secured cards, you get a 7.99 percent (V) APR.

Rates

The APRs for the Orchard Bank Classic MasterCard depend on which card you're approved for. For unsecured cards, you'll a 14.99 percent to 24.99 (V) APR. The annual fee for an unsecured credit card ranges from $35 to $59, depending on the card you qualify for. There's a processing fee that ranges from zero to $39. For secured cards, you get a 7.99 percent (V) APR. There's an annual fee of $35, but it's waived for the first year. There isn't a processing fee for the secured card. Cash advances carry a 20.90 percent (V) APR and there's a 5 percent cash advance fee. Foreign transaction fees are 3 percent. There may be other fees, depending on the card you receive, so read the terms and conditions carefully.

Who Should Apply

Consumers who want to either rebuild or establish a credit history.

Credit Standing

This card is suited for consumers who have zero (or limited) credit history or a bad-to-poor credit history.

Author

Beverly Harzog

About Credit.com's Credit Cards and Prepaid Cards:

You may be able to build, rebuild, or reestablish your credit history by making on time monthly payments to all creditors and by maintaining all your balances under the credit limits. From premium reward cards to accounts that help you rebuild your credit, we have the credit card for you! If your future goals include owning a home, buying a car, owning your own business, or traveling, having a credit card can be an excellent first step. With credit card services from leading issuers like American Express, Bank of America, Capital One, Chase, Citibank, Discover, First PREMIER® Bank, HSBC Bank, IBERIABANK, MasterCard, Simmons First and Visa, you can find the best credit card for you at Credit.com.

The key to success with credit cards is to know how to use them to your advantage and not to get caught up in the traps that lurk behind the benefits. Credit.com offers many kinds of credit card benefits, from airline and gas rewards to cashback cards, and the first step is filling out a credit card application online. You can also apply for specialty credit cards, such as student credit cards or business credit cards. Credit.com also offers credit cards for the United Kingdom and Canada.

In addition to credit cards, Credit.com offers three other card options that can provide excellent choices for people with less-than-perfect credit: Prepaid cards from Mastercard and Visa allow you to load money onto the card and then use it like any other major credit card. They require no credit approval and carry the same fraud protection as the regular cards. But fees can be high, so be sure to shop carefully for a prepaid card.

Secured cards require you to open a bank account and deposit funds in a bank account (security deposit) in case you can't pay the bills. You'll get a major credit card you can use anywhere those types of cards are accepted. Shop carefully for a secured card to avoid costly fees.

Debit Cards issued under the Visa card or Mastercard name can be widely used and carry fraud protection. But if your card number is stolen and used, you'd want to find out immediately. Otherwise, you could bounce checks. One strategy: Have two checking accounts and associate your debit card with the one with the small balance. Just transfer the purchase amount into the account before you buy something with the card.

  

*For complete information, see the terms and conditions on the credit card issuer's web site. Once you click to apply for this card, you will be directed to the issuer's website where you may review the terms and conditions of the card before applying. While Credit.com always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

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The Pros and Cons of Prepaid Cards

Prepaid cards offer the convenience of a credit card without the difficult approval process or risk of getting into debt. These cards work a lot like a gift card, you will have to load the account with cash (direct deposit is usually available) before you can use it for a purchase

Prepaid cards are not credit cards; you cannot spend more than the balance you have deposited and you will not be charged interest for your spending. The prepaid account will not be reported to the credit bureaus as a credit card.

Pros:
Cons:

Fees and charges can vary significantly between different prepaid credit card offers. Be sure to read the fee schedule for the prepaid credit card before you apply.


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