The Orchard credit card is offered by Orchard bank, which continued to be one of the biggest banks in Asia and Pacific until it was taken over by HSBC. Owing to the diverse needs of customers spread across different regions, Orchard bank offers four different types of cards. Of these four, three are unsecured while one is secured. Accessibility and credit limit are the two key features of the Orchard credit card line which sets them apart from other cards available in the market.
Secured Orchard Credit Card Benefits
A secured Orchard credit card is beneficial for people with bad credit history. Wondering how? For every full charge made, Orchard credit card aims at improving card holder’s credit worthiness. However an initial deposit needs to be made with the bank for obtaining a card. The annual percentage rate, also referred to as APR is close to 15.9%.
Orchard now functions on the guidelines of HSBC. This is perhaps the reason behind its exceptional customer service quality. In fact quality of service rendered depends upon the credit worthiness of the individual and his rating. However the only negative side of these cards is the interest rate charged by it. In most cases these rates vary depending upon individual’s credit score. So, never ever delay your payments.
Accessibility is another major advantage associated with this card. You can use this card for almost all kinds of payments made since it is accepted in all places where master card is accepted. To keep its card holders updated, Orchard offers a text message service. Besides keeping the card user informed, this service helps keep a check on all the expenses and thus prevents situations of exceeding credit limit unwittingly. An Orchard credit card builds and re-establishes an individual’s credit limit. It is for this reason, an Orchard credit card is a boon for people with a bad credit history while being a great convenience for others.