Orchard Bank Credit Card Helps Revive Credit Report
Many people trying to dig themselves out of a financial hole find they are not qualified for many major credit cards. Knowing they will have to have one in order to use many services such as renting a car or buying merchandise online, they turn to companies that offer credit cards to those with less than perfect credit. While the interest rates may be higher than mainstream cards, an Orchard Bank credit card can help them rebuild their credit.
Unlike some credit companies, when a person makes their regular monthly payment on their Orchard Bank credit card the company reports a positive transaction to the credit reporting agencies. Even those with bad credit can experience an improvement in their credit score, albeit a small on during the initial months of holding a Orchard Bank credit card, every positive note going into the report is considered worth it when planning for their financial future.
An Orchard Bank credit card can be found under both the MasterCard and Visa label, and for those with better than average credit scores, cards are available with lower interest rates. Even those who have experienced credit problems in the past, over time, as their credit score improves, they may qualify for an Orchard Bank credit card with a lower interest rate.
Available Credit Tightened In Tough Economic Times
When the economy is sitting stagnant many lenders are more strict in who they qualify for loans as well as for credit cards. When applying for an Orchard Bank credit card the company not only considers the applicants past missteps with their credit, but also their recent attempts to turn their life around.
Many people who have been denied access to credit from the more traditional lenders have found a more lenient credit availability process enables them to receive approval for an Orchard Bank credit card. Yes, there will be higher initial fees involved in being issued an Orchard Bank credit card, but most understand they are investing in their financial life by using their future credit responsibly. Also understand, most of the Orchard Bank credit cards are not linked to a savings account and are not pre-paid credit cards.
People with bad credit find that paying higher interest rates on an Orchard Bank credit card is part of the process of rebuilding their credit. Regular reviews of their account history as well as the potential to raise their credit limit while lowering their interest rates are some of the additional pluses associated with the Orchard Bank credit card.
