Orchard Bank Silver MasterCard
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- Great Credit Card to Strengthen Credit
- Reports to All 3 Credit Bureaus Monthly, which Can Help Improve the Cardholder's Credit Score
- Free Online 24-Hour Account Access and Bill Pay
- Periodic Credit Limit Increases
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Orchard Bank Silver MasterCard Review
The Orchard Bank Silver MasterCard, issued by HSBC Bank Nevada, N.A., is designed for those with an average or a limited credit history who do not wish to secure a credit card account with a deposit, as this is often the case with a secured card.
Although the card can help those with a limited credit history build towards a positive and solid credit history (assuming payments are made on time), it does have several costly factors that should be considered before applying.
The interest rate is reasonable for this type of card, but it can still be costly for anyone planning on carrying a large balance. There is an annual fee of $49, which is about average for this type of credit card. There is also an application fee of $49. In total, the cardholder can expect to pay $98 in the first year.
The Orchard Bank Silver MasterCard also offers common cardholder benefits such as emergency card replacement, lost and stolen card reporting, and no liability for unauthorized transactions.
Therefore, those who can afford to pay in full each month (to avoid finance charges) and plan to use the card to help build a positive credit history will benefit most from what the Orchard Bank Silver MasterCard has to offer.
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