The Orchard Bank Gold Master Card®, from HSBC Bank Nevada, N.A., is meant for people with an average or a short credit history. They don’t want to pay a deposit in order to get a credit card, which is what normally happens with a secured card.
Although the card is useful to you in repairing your credit, it’s important to observe that cardholders have to pay fees to avail the opportunity. Most of the applicants for the Orchard Bank Gold Master Card are unlikely to be selected for a better credit card without having to pay a security deposit. Hence the fees are a small price to pay to avail of the benefit of restoring your credit. Fees consist of an annual fee and an application fee to open the account.
Though the card is beneficial for people with short credit history, it does possess many expensive features, which you should take into account prior to applying.
Orchard Bank Gold Master Card reports all the 3 major credit bureaus, so it is essential you pay on time each month, since it will help repair your credit over a period of time. You will derive maximum benefit by paying your whole outstanding each month, since it leads to lower fees. But if you so desire, Orchard Bank Gold card lets you carry over a balance from each month.
Its interest rate is nominal. It has an annual fee of $79 that is about average for this variety of credit card. Along with it, there is an application fee of $9. So on an average, you can expect to pay $88 in initial year.
This card also comes with regular cardholder features like emergency card replacement, lost and stolen card reporting, and zero liability for unlawful transactions.
Enjoy the repute of a Gold Master Card
Get Gold Card honors and benefits
See your report in all 3 Credit Bureaus every month
Access your Account and pay bill Online 24 x 365 days for free
Enjoy frequent Credit Limit hikes