Orchard Bank® Classic MasterCards
Orchard Bank® Classic MasterCards
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Accepted Credit Scores
Good Credit, Fair Credit
Annual Fee
$39 - $59
APR on Purchases
14.99 - 24.99% (V)
Balance Transfer
APR: 14.99 - 24.99% (V)
Balance Transfer Fee
Orchard Bank® Classic MasterCards' Additional Info
The Orchard Bank® MasterCard® is an excellent credit card choice for people looking to build their credit. Get prequalified online in just 30 seconds!
Reports to 3 major credit bureaus monthly.
The Annual Fee is between $39 and $59, and the Processing Fee is between $0 and $59, depending upon your creditworthiness.
Orchard Bank's goal is to offer you the credit card that best fits your credit profile, based on your consumer credit report and other information you provide to Orchard Bank.
You may be offered a secured card or an unsecured card, and with different terms and conditions which will be disclosed before your application is processed.
cash advance fee | 5% (min $5) |
cash advance APR | 20.90% (V) |
foreign transaction fee | 3% |
smart chip | No |
max late fee | $35 |
max overlimit fee | $25 |
max penalty APR | 29.99% (V) |
grace period | 25 days |
Compare The Orchard Bank® Classic MasterCards vs. Popular Alternatives
Questions & Answers
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Orchard Bank® Classic MasterCards Reviews
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With that in mind, let’s take a look at some of the advantages and disadvantages of getting an Orchard Bank Classic MasterCard.
Pros
- To be frank, I don’t really see any, aside from the fact that people with limited credit would have a chance to get an Orchard Classic MasterCard.
Cons
- Well, where to start?
- Orchard Bank MasterCards have $39-59 annual fees (depending on your exact credit standing) so that rules out using them to build credit at the lowest possible cost.
- They don’t have rewards either.
- Nor do they have low interest rates.
As you can probably tell, I’m not the biggest fan of the Orchard Bank MasterCard. It’s just that there are other options (like the Capital One Platinum) that help you build credit for free, so why waste the money? Even if you cant get such a card, a secured card would effectively do the same thing (you’d have to place a $200 deposit, but its refundable).
Ok, but if a Classic Orchard MasterCard is not a good fit, what credit cards are? If you have fair or limited credit, any card that doesn’t have an annual fee will suit your main need of cost effective credit building (among this selection of cards, you should choose whichever offer that has the best rewards or longest 0% introductory term). If you have good or excellent credit, whether to focus on rewards or low interest rates depends on whether you always pay your monthly bills in full or not. If you do, get the card offering the best rewards for your biggest expenses. If you don’t, either get a 0% balance transfer card or a card with 0% on purchases, depending on whether you have existing debt or will need additional time to pay off upcoming purchases. Lastly, if you want a credit card from Orchard Bank, the Orchard Bank Secured MasterCard would be a far better choice than an Orchard Bank Classic MasterCard because it does not have an annual fee in the first year and prevents you from spending beyond your means, thanks to a refundable security deposit that acts as your spending limit.
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