"Gotta Start SOMEWHERE..."
Orchard Bank® Gold MasterCard® Review
Written by: imcdonald on 2010-09-16
Overall Satisfaction
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imcdonald's review: 
This card is for those who are at the bottom of the food chain. The rates, and terms are terrible, but it DOES serve a purpose. They report consistantly to all of the big three, and you can really build from there. VERY cheap with the CLI's, and they are few, and far between. Good thing about them is they are backed by HSBC, which doesn't seem to be going anywhere. Had this card for 2 years now, always paid on time. All I have to show for it is a $270 CLI in total, bringing it to a wooping $570 credit line. It did it's job, and I'm only holding it for length now. Sockdraw it after you get a few better cards. Use it to keep it open, and that's about it.
This card is for those who are at the bottom of the food chain. The rates, and terms are terrible, but it DOES serve a purpose. They report consistantly to all of the big three, and you can really build from there. VERY cheap with the CLI's, and they are few, and far between. Good thing about them is they are backed by HSBC, which doesn't seem to be going anywhere. Had this card for 2 years now, always paid on time. All I have to show for it is a $270 CLI in total, bringing it to a wooping $570 credit line. It did it's job, and I'm only holding it for length now. Sockdraw it after you get a few better cards. Use it to keep it open, and that's about it.
2 Comments
Comment 1 by wanderer
Re: Gotta Start SOMEWHERE... 
on 2010-09-16
Most folks on this site use this card to build their credit. You move up in cards over time and close the beginning cards. One really good card is Bank of America's Platinum Plus Visa which I started with as a secured card and after nine months they unsecured it and added a CLI of $500 then I changed products to a card that had World Points. Food for thought. There are other good cards to. Citi's Platinum Select Mastercard is reasonable with no frills but no AF and good CL's and good BT's. Others on this site might suggest you obtain a Visa or Mastercard from a credit union who seem to be very welcoming (I had one and liked it).
on 2010-09-16 Most folks on this site use this card to build their credit. You move up in cards over time and close the beginning cards. One really good card is Bank of America's Platinum Plus Visa which I started with as a secured card and after nine months they unsecured it and added a CLI of $500 then I changed products to a card that had World Points. Food for thought. There are other good cards to. Citi's Platinum Select Mastercard is reasonable with no frills but no AF and good CL's and good BT's. Others on this site might suggest you obtain a Visa or Mastercard from a credit union who seem to be very welcoming (I had one and liked it).
Comment 2 by imcdonald
Re: Gotta Start SOMEWHERE... on 2010-10-14
Just as an Update, my CL is now $570.00
Not much, becasue they seem to be VERY stingy in regards to CLI, as everyone seems to be right about now. 2 years of on-time payments doesn't really seem to move these people. I think I'll just sock-draw this card, and only keep it for length, being it is my oldest card. In a few years, I'll just drop em as the few month difference won't amount to much.
on 2010-10-14 Just as an Update, my CL is now $570.00Not much, becasue they seem to be VERY stingy in regards to CLI, as everyone seems to be right about now. 2 years of on-time payments doesn't really seem to move these people. I think I'll just sock-draw this card, and only keep it for length, being it is my oldest card. In a few years, I'll just drop em as the few month difference won't amount to much.
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Disclaimer: This content is not provided by Capital One Bank (USA), N.A.. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Capital One Bank (USA), N.A.. Review content is powered by Finance Globe.
Disclaimer: This content is not provided by Capital One Bank (USA), N.A.. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Capital One Bank (USA), N.A.. Review content is powered by Finance Globe.
