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Orchard Bank Platinum MC

New Contributor

Orchard Bank Platinum MC

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? 

Message 1 of 7
6 REPLIES
Moderator Emeritus

Re: Orchard Bank Platinum MC

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.

Just puttin' syrup on something, don't make it pancakes.
Message 2 of 7
New Contributor

Re: Orchard Bank Platinum MC

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

Message 3 of 7
Regular Contributor

Re: Orchard Bank Platinum MC

I got this same offer this past Saturday but 9.9% after the promo interest rate..
FICO's - 3/14/14 TU 795 4/17/14 EQ:805 3/7/14 EX: 801


Baddies all Gone
Message 4 of 7
Regular Contributor

Re: Orchard Bank Platinum MC

Sorry mine was HSBC card not Orchard.
FICO's - 3/14/14 TU 795 4/17/14 EQ:805 3/7/14 EX: 801


Baddies all Gone
Message 5 of 7
Regular Contributor

Re: Orchard Bank Platinum MC

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.  Smiley Happy

 

Congratulations.


Starting Score: 580
Current Score: 676
Goal Score: 700+


Take the FICO Fitness Challenge
Message 6 of 7
Highlighted
Regular Contributor

Re: Orchard Bank Platinum MC

 

I've had one since 2007 with an initial CL of $2000.00, however, I have not had a CLI since...

Current Scores (as of 04/22/13): EQ FICO=795; TU FICO =766; EX =763

BankAmericard Cash Rewards ($20,000) | Amex Platinum (NPSL) | Amex Clear ($20,000) | Amex Blue Cash ($2,500) | Chase Freedom ($11,000) | PenFed Platinum Cash Rewards ($5,000) | Barclaycard Apple ($5,000) | Discover More ($6,500) | BankAmericard Cash Rewards [Authorized User] ($15,000)
Message 7 of 7