Here is another credit card provider with a unique twist. The Orchard Bank Classic Master Cards are provided through HSBC bank and as such don’t have any unusual features. The annual percentage rate for purchases is at the high end with 28.9% which even goes up to 29.49% if you fail to make a payment on time. So what is special about the Orchard Bank Classic Master Cards? The application process.

Orchard Bank asks you to pre-qualify for one of their cards. You give them some information and then they let you know which one of their credit cards you could get. Read the terms and conditions they provide you at that time very carefully. If you have no idea whether you can qualify for a credit card, this is certainly an easy way to find out. If they don’t think you are a good risk, they may offer you a secured credit card.

Secured credit cards usually require you to open an account with the bank offering the secured credit card with an amount of money maintained in it that equals the credit limit on the credit card. Most of these accounts do not pay any interest, however, the APR on purchases does tend to be lower than the APR offered on unsecured credit cards. The main reason to get a secured credit card is to reestablish a better credit rating after you destroyed it. For most people who have not yet had a credit card, there are other options available. It is the people that used to have credit but didn’t pay it off according to the terms they obtained it under that may not have another option open to them. If this happened to you, you know what I am talking about. Banks have gotten tougher on loan approvals.

Anyhow, there is no harm in finding out whether you could qualify for an Orchard Bank Classic Master Card. Even if you decide you don’t like the terms, at least you now know what your chance at being approved for any credit card is. If Orchard Bank pre-qualifies you for their highest level credit card, then you know that you have a reasonable chance at a credit card at similar banks. When it comes to credit cards, you really need to decide what features are important to the way you use your credit cards. If the Orchard Bank Classic Master Card would work for you then pre-qualify for a Orchard Bank Classic Master Card and find out if they think you match their risk profile.

In general, the new credit card laws have increased the number of consumer protections but that doesn’t mean the banks can’t make money off you. They can and they do. It is up to you to research what types of benefits each credit card offers and decide whether that benefit is something you would use. The benefits that come with the Orchard Bank Classic Master Card are online access to your account, online bill pay at no charge, fraud protection and the opportunity to request balance updates via email and text messages. You can even sign up to have them send you a message if you have a payment coming due soon.

Mostly, the Orchard Bank Classic Master Card will appeal to people who need to rebuild their credit rating. Those with outstanding credit ratings can qualify for credit cards with better annual percentage rates on purchases. Orchard Bank’s method of letting you pre-qualify and informing you which credit card they would be willing to approve you for is certainly their best draw. It takes the guessing out of your search.