Consumer Credit Counseling

The Orchard Bank credit card is created for individuals with a damaged credit report. This card is issued by HSBC Bank.

The Orchard Bank unsecured cards have an APR between 8.9% and 18.9%. One of the unsecured cards will carry a $19 account set up fee and you will have to pay a low annual fee.

However the fees associated with the Orchard Bank credit card is dramatically lower than any other sub prime credit cards. In addition Orchard Bank has very reasonable interest rates compared to other bad credit credit cards.

Orchard Bank credit card 2% Cash Back on Everything Cards:
There are two versions of this Orchard Bank credit card:

1. A platinum version with a $59 annual fee;
2. A secured version with a $35 annual fee.

Cash back earnings are credited to your statement quarterly.

Easily compare how these credit cards stack up against other leading credit cards with their annual fees. If you spend at least $5900 per year, then the platinum version of the Orchard Bank credit card is superior to a 1% credit card. If you spend at least $11,800 per year (in the "other" category), then the platinum version of the Orchard Bank credit card is superior to a 1.5% credit.

Customer Complaint History:
Everyone should seriously look into the hundreds of complaints filed against Orchard Bank before they consider doing business with them.

Some terms and rates for the Orchard Bank credit card as of 1/31/10:

Rates and Fees Specific to Orchard Bank Unsecured Credit Cards:

• The variable Purchase APR will apply to credit card purchases, which is currently between 14.90% and 24.90%, depending upon your creditworthiness.
• The variable Balance Transfer APR is between 14.90% and 24.90%, depending upon your creditworthiness, and applies to balance transfers and credit card checks, if available, unless otherwise disclosed.
• Your APRs may increase to the Penalty APR if you fail to make a minimum payment to us when due. The Annual Fee is between $35 and $74 the first year and between $39 and $79 per year thereafter, depending upon your creditworthiness and a Processing Fee between $0 and $39 will apply, depending upon your creditworthiness.

Rates and Fees Specific to Orchard Bank Secured Credit Cards:
• The variable Purchase APR is 7.9% and applies to credit card purchases.
• The variable Balance Transfer APR is 7.9% and applies to balance transfers and credit card checks, if available, unless otherwise disclosed.
• An Annual Fee of $35 will apply and will be waived the first year. The Processing Fee is $0. Minimum $200 security deposit required.

Rates and Fees for All Orchard Bank Unsecured and Secured Credit Cards:
• The variable Cash APR is 20.90%. The variable Penalty APR is 29.49%. A Balance Transfer Fee of 5% ($5 minimum) will apply to balance transfers, if available, including credit card checks.
• A 5% ($5 minimum) Cash Advance Fee will apply to cash advances, unless otherwise disclosed. The Minimum Interest Charge is $1.
• The Foreign Transaction Fee is 3% of the U.S. dollar amount on transactions made in a foreign currency.