Post Bankruptcy Charge Card
Written: Jul 27 '01
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Pros: Website payments reduce fees
Cons: High interest, low limits
The Bottom Line: Great credit card for those with less than perfect or no credit.
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| ladyhawk617's Full Review: Orchard Bank Credit Card |
After divorce, bankruptcy etc. I was worried about obtaining credit. I travel some with my job and a credit card is a necessity-as well as fueling my addiction to Ebay.
Orchard Bank seems to accept everybody. Sure the interest rate is close to 19% and there is a $6 month fee but what can you expect with less than perfect credit.
Here's the deal. If you pay your balance off monthly and do it via the website, you pay no interest or monthly fee. That is a big plus for me. Kind of a way for those who are on top of things to circumvent the system and not have to pay the extra "You messed up once and will pay for it for 7 years" fees.
You can also apply on line (as I did) and receive your card in less than 2 weeks. It's kind of pretty. Green leaf motif and all.
Don't count on getting a huge credit limit. I think they start out small and increase over time with timely payments.
I use credit cards for flexibility and online rather than spending money I don't and won't have in the near future.
Orchard bank allows you to do this without raping you with high fees.
Recommended:
Yes
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Epinions.com ID:
ladyhawk617
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Member: Kristy
Location: Chesterfield, IN
Reviews written: 53
Trusted by: 39 members
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