Orchard bank secured credit card - secured MasterCard
This has been one of the most popular and easy to get secured credit cards. Besides, Orchard bank secured MasterCard has low $200 minimum security deposit and caps all processing fees capped at $49. It also gives you a choice of payment due dates, thus making paying your bill on time much easier - e.g. next day after a pay day sounds much better than a day before for many. You can also make online purchases or reservations, and manage your account 365/24/7. Other benefits include reporting to all 3 credit bureaus, earning interest on your deposit and zero fraud liability protection.
An excellent card to establish credit or to rebuild credit, the Orchard Bank secured MasterCard comes with a low 7.90% variable purchase APR, and the first year annual fee of $35 is waived.
Other important APRs that you really don't want to see applied to your account, are variable cash advance APR of 21.90% and variable default APR of 29.49%. To assist yourself not to be late, when enrolling online, set up email alerts to remind of payment due date several days in advance. Once finished, print and mail your application with the security deposit. The other important fee is the foreign transaction fee, which is 3% of the U.S. dollar amount on transactions made in a foreign currency. And yes, that includes both, Canadian dollar and Mexican Pesos.
Final reminder is that while the security deposit is equal to your credit limit, this money will not be used to make you obligatory minimum monthly payments. This is only for security. You have to use other funds for the monthly payments. We cover many secured credit cards here and this question still pops up regularly. Apply for Orchard bank secured credit card here.
Fri Apr 10, 2009 01:04PM | Copyright: www.bad-credit-advisor.com | More in Credit Card Deals | Comments (0)
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