The Orchard credit card is issued through HSBC Bank in Nevada, which is among the top ten United State financial services companies. This bank has a long, stable history, dating back to 1865, and has been consistently strong financially. With this reliable financial banking, the Orchard card should be a high quality tool for long term financial management. Other aspects of the card, though, will make it less attractive to some consumers.
The card provides a number of fairly standard options, including online bill management, bill paying services, and wireless billing. The company also provides an “eco friendly” card, called the ecosmart MasterCard, that is made of biodegradable material, functions with electronic billing and management, and provides eco friendly rewards for those who use the card. Standard versions of the Orchard credit card provide interest rates comparable to other, similar credit cards. You can apply for the card online, as with most credit cards. The card also provides regular monthly reports to various credit bureaus, which can help provide these organizations with information that will help your credit rating increase as you continue to use the card regularly.
One disadvantage to the Orchard credit card is its additional fees. Orchard charges a yearly fee for their card as well as a processing fee to set up the account. The fees listed on the website are unclear, although it appears that the yearly fee increases after the first year. The first year of the credit card can be exempt from the yearly fee, but it is not possible to tell from the preliminary information how an applicant might qualify for this option, as well as the option of waiving the set-up fee. For those who do not wish to pay a yearly fee for their credit card, this card might not be a viable option.