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Orchard Bank is the credit card issuing portion of the HSBC Bank. The HSBC Bank is an international bank that was founded in 1865. Since that time, it has grown into a bank with offices in 88 countries or territories, ranking among the top of the Forbes Global 2000, as well as one of America’s top ten financial institutions.
Orchard Bank Products
Orchard Bank has many different credit cards for customers to consider. The classic card is one of the most popular, advertises an average APR and minimal fees. Orchard Bank Online also offers ecosmart MasterCards for customers who want to limit their impact on the environment. These cards allow for electronic statements and bonus points that are redeemable for eco-friendly rewards.
Sometimes customers need a way to rebuild their credit after a financial mishap. The Orchard Bank Secured MasterCard and the Orchard Bank Visa Card are options to consider. This card, which is secured by the customer’s own funds, is available to those struggling with their credit rating, but charges high annual fees.
Card Member Benefits
Orchard Bank customers have several benefits available to them. Online management of accounts makes paying bills simple, and the card also allows you to set up online bill pay service to automatically pay your bill every month. You can view your statements and transactions online and receive email or text messages alerting you to pending payments.
The cards are also quite flexible. You can choose your payment due date and make payments by mail, online, or over the phone. You can also apply for the card online.
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While the Orchard Bank cards look good on paper, customers tend to give them low reviews. First, they advertise low annual fees, ranging between $0 and $35, but many customers indicate the fees to be much higher, closer to $80. If you choose one of these cards, make sure you read the fine print carefully.
Customer service also receives bad marks from former Orchard Bank customers. Some claim that the customer service representatives make unfair statements about their poor credit rating, claiming their expensive cards are the only option they have to rebuild heir credit, when in fact there are more affordable cards on the market, even for people with low credit scores. Customer service representatives are not based in the US, so speaking to one can be a challenge. These cards work for those who cannot get another card due to their credit, but customers need to be aware of their actual credit rating, and move on to a more affordable card when their rating increases.