Orchard Bank Platinum MC

[buggle]

I just received a "pre qualified" offer for an Orchard Bank Platinum MC.  The annual fee is $39, and the APR is 12.9%.  Has anyone had experiences with them?  Would this be a good card to get? 

[Anonymous]

Hi buggle,

I used Orchard's platinum MC for rebuilding after BK.

I like them - they are easy to pay online and they qualify as a bank card.  Because I didn't have a bankcard and FICO likes one for scoring purposes, my score went up 20 points when I opened them.  I did close them before the first anniversary because they had done their job for me and I was able to open a bank card without AF's. 

Do a search on these forums and you will find many posts regarding Orchard.

If you're rebuilding, and don't yet have a bank card, they're a good bet.

On the other hand, if you're past rebuilding, and already have a bank card without an AF, you are past needing this type of card.

[buggle]

Thanks for the information,  beamMEup.  I already have a bank card with no annual fee, so I think I will pass on the offer.

[Kris1228]

I got this same offer this past Saturday but 9.9% after the promo interest rate..

[Kris1228]

Sorry mine was HSBC card not Orchard.

[Anonymous]

Orchard  is owned by hsbc.   I agree with the previous, if you don't need the help, don't get it.  I just got one a few months ago because I'm rebuilding.  I plan to keep it for a year and then see where my score is after my mortgage and acquiring the new card has settled down on my report.  I hope to not have to pay the annual fee next year. 

Congratulations.

[Iincognito]

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