Orchard Bank

A Brief Introduction to the Orchard Bank.

Orchard Bank is basically the MasterCard® credit card providing subsidiary of the HSBC Bank Nevada NA, this business concern itself being the subordinate company of the HSBC Holdings plc (NYSE: HBC). Orchard Bank provides credit cards to those U.S. citizens who are in fact avoided by other banks.

The Orchard Bank is aimed at assisting those to meet their financial targets, people who have very restrained credit history if not none at all. The people who have a stained credit history may also look at the Orchard Bank Credit Cards as a means of achieving their financial objectives.

The criteria of credit underwriting that are followed by the Orchard Bank are in fact more tolerant than those commonly followed by most other commercial organizations issuing credit card services in the financial markets of the U.S.

The Orchard Bank Credit Cards are a favorable option that is available even to the common citizens of the U.S. to either embark upon creating a believable credit or to work hard towards reconstructing the tainted credit history behind one.

The Orchard Bank is owned by the HSBC Holdings public limited company based in New York City, which ranks amongst the most prominent and highest profit yielding banking groups across the world. HSBC Bank Nevada NA, is the holding company which functions especially in the financial markets of the U.S., under the HSBC Holdings public limited company.

Therefore, the Orchard Bank is empowered to provide enhanced credit card products and services which are strengthened by the global banking experience of the HSBC Holdings public limited company. It needs to be made known here that, the HSBC Finance Corporation which belongs to the HSBC Group and provides financial services in the U.S., is one of the topmost issuers of Visa and MasterCard credit cards within the nation.

The Orchard Bank is backed by the fact that the HSBC bank has a strong global presence in fields related to international trade. As a result of of its global presence, the HSBC bank is able to differentiate and distinguish between the various markets which are spread across the world.

The ability to recognise and realise the subtle differences between the people belonging to different cultures has been integrated from the understanding of the different market types that are positioned across the world. Thus, the HSBC bank is at a vantage point to understand the particular sentiments and aspirations of people residing in different parts of the globe.

The Orchard Bank drawing on the business background of the HSBC bank is enabled to provide customized services as well as credit products mainly credit cards to fulfill the personalized needs of the customers.

The HSBC bank was established as early as 1865 to provide finances for the trading operations between Europe and China which was then still in its nascent period. As of now, the HSBC bank has well over 9,500 banking locations spread across nearly 79 countries and territories.

Today, the HSBC bank, which was founded around one hundred and forty years ago in Hongkong ranks near the top of the global financial services providers in the world.

The Orchard Bank, only because it is a direct subsidiary of the HSBC bank, has the unique advantage of extracting from the experiences of the HSBC bank. To add to this, it has also helped that the different types of MasterCard® credit cards which the Orchard Bank is obligated to issue in the financial markets of the U.S., on behalf of HSBC Bank Nevada NA, is one of the two leading providers of credit cards across the world, in addition to the VISA credit cards.

The Orchard Bank MasterCard® credit cards which are issued by the Orchard Bank are therefore fit for use throughout the world at all places where MasterCard® credit cards are accepted. This implies that though the Orchard Bank MasterCard® credit cards are issued only in the U.S., these can be used for making purchases all over the world.

The MasterCard® credit cards provided by the Orchard Bank.

The Orchard Bank basically provides a wide range of Orchard Bank MasterCard® credit cards that are customized to fit the personal requirements of the customers who apply for these credit cards. The most noteworthy MasterCard® credit cards amongst all the credit cards furnished by the Orchard Bank are the following ones :

• The Orchard Bank® Prime Platinum MasterCard® credit card
• The Orchard Bank® Platinum MasterCard® credit card
• The Orchard Bank® Gold MasterCard® credit card
• The Orchard Bank® Silver MasterCard® credit card
• The Orchard Bank® Secured MasterCard® credit card
• The Orchard Bank® Low APR MasterCard® credit card.

The Orchard Bank® Prime Platinum MasterCard® credit card.This credit card offered by the Orchard Bank is entitled to the benefits of a Platinum MasterCard® credit card. In addition the customers of this credit card are empowered to manage their respective personal accounts which are linked to the Orchard Bank® Prime Platinum MasterCard® credit card through the Online Banking services furnished by the Orchard Bank by just using any computer that is linked to the internet and logging on to the website of the Orchard Bank.

The Orchard Bank® Prime Platinum MasterCard® credit card holders are not charged Annual Percentage Rates or APR during the initial period of six months for all kinds of purchases and balance transfers from or to the account that is linked to the particular Orchard Bank® Prime Platinum MasterCard® credit card.

However, after the introductory period of six months is over, a 15.99 percent credit card Annual Percentage Rate is imposed upon every Orchard Bank® Prime Platinum MasterCard® credit card. The added advantage of this particular kind of credit card is that the Orchard Bank® Prime Platinum MasterCard® credit card is exempted from the payments that have to be made towards the Annual Fee and also the Account Set Up Fee which are commonly imposed upon all the other credit cards provided by the Orchard Bank. A Cash Advance Fee of about 5 percent is charged for using the Orchard Bank® Prime Platinum MasterCard® credit card, provided that the amount corresponding to the 5 percent is not lower than USD 10.

The Orchard Bank® Platinum MasterCard® credit card.

This particular credit card offered by the Orchard Bank is very much similar to the Orchard Bank® Prime Platinum MasterCard® credit card with the exception that this credit card does not entitle the customer to the benefit regarding the Balance of Transfers from one account to another. And another difference of this credit card with that of the Orchard Bank® Prime Platinum MasterCard® credit card is that in this one, that is, the Orchard Bank® Platinum MasterCard® credit card, only the specific applicants who qualify are provided with the introductory offer which exempts the respective customer from Annual Percentage Rate payment for six months.

The consumers of the Orchard Bank® Platinum MasterCard® credit card are provided with the specified benefits of the Platinum MasterCard® credit card in addition to Zero Liability Fraud Protection, which implies that the customers will not be subjected to the payment of expenses that may be incurred due to fraudulent use of this credit card.

An added advantage of this credit card is that the consumers are given the choice of fixing the dates of payment according to their personal convenience. Depending on the facilities applied for, the customers are indebted to make payments towards an Annual Percentage Rate which generally ranges between nearly 9 percent to almost 15 percent.

The Annual Fee attached with the Orchard Bank® Platinum MasterCard® credit card fluctuates between USD 39 to USD 89, whereas the Account Set Up Fee that is to be paid for using the services of this particular credit card may be anywhere near USD 29 or else may not be applied at all. The Cash Advance Fee that has to be paid by customers is only about 5 percent, and in case if that is less than USD 5 then the consumer needs to pay a minimum amount of USD 5.

The Orchard Bank® Gold MasterCard® credit card.

The Orchard Bank® Gold MasterCard® credit card holders are provided with all the benefits attached to a Gold MasterCard® credit card. Only those applicants who qualify for the introductory exemption of Annual Percentage Rate for the initial six months of the usage of this credit card are eligible for this named benefit, which is attached with the Orchard Bank® Gold MasterCard® credit card.

The customers of the Orchard Bank® Gold MasterCard® credit card are entitled to the enhanced facility of Zero Liability Fraud Protection which exempts the customers from paying for any kind of fraudulent and unauthorized transactions involving the particular credit card. The consumers are also entitled to the benefit of determining their own due payment dates. The Annual Percentage Rate payment that has to be made by the consumers for using the services of the Orchard Bank® Gold MasterCard® credit card the same as that of the Orchard Bank® Platinum MasterCard® credit card, that is, ranging between almost 9 percent to nearly 15 percent.

The Annual Fee imposed upon the Orchard Bank® Platinum MasterCard® credit card is the highest amongst all the credit cards furnished by the Orchard Bank. It ranges from close to USD 79 to around USD 96. Even the Annual Set Up Fee attached with the Orchard Bank® Gold MasterCard® credit cards are higher than the rest of the credit cards on offer and this varies between about USD 19 and almost USD 39. The Cash Advance Fee imposed upon this particular credit card issued by the Orchard Bank is a low 5 percent, which is increased to a minimum of USD 5, if the percentage amount is lesser than that.

The Orchard Bank® Silver MasterCard® credit card.

The Orchard Bank® Silver MasterCard® credit cards come with the advantage of a credit card which reports at the end of each month to all of the three major credit bureaus active in the U.S. and due to this, the Orchard Bank® Silver MasterCard® credit card are favorable for either building a credit report or reconstructing the tainted credit history of the concerned consumer of these Orchard Bank® MasterCard® credit cards. TransUnion credit bureau, Experian credit bureau, and Equifax credit bureau are the three major credit bureaus operating across the U.S. and are engaged mainly in collecting and reporting information regarding the credit history of all credit consumers throughout the nation.

The Orchard Bank® Silver MasterCard® credit card entitles the credit card consumer’s associated personal account to credit limit increases periodically. For possessing the Silver MasterCard® credit card provided by the Orchard Bank, the personal consumers are enabled to the Online Banking services of the Orchard Bank. Therefore, the respective credit card consumers are allowed to keep track of all the financial transactions which their personal accounts have been subjected to, throughout the day by logging on to the official website of the Orchard Bank using any computer that is linked to the internet.

This particular enhancement also empowers the Orchard Bank® Silver MasterCard® credit card holders to receive the bills incurred by them for making purchases, through the internet as well as make payments towards the same, using the same application. The consumers of this particular credit card are not exempted from the payment of the Annual Percentage Rate for the initial period of six months which is in fact provided to the consumers of the Orchard Bank® Prime Platinum MasterCard® credit card.

The consumers of this credit card are subjected to the regular payment of a flat Annual Percentage Rate of about 15 percent. To add to the Annual Percentage Rate, an Annual Fee which is about USD 49 is also imposed upon the Orchard Bank® Silver MasterCard® credit card holders. However, the holders of the Orchard Bank® Silver MasterCard® credit card are not offered the advantage of Balance Transfers from their personal accounts to other accounts, or even to other accounts owned by them.

The Orchard Bank® Secured MasterCard® credit card.The Orchard Bank® Secured MasterCard® credit cards are entitled to the advantage of gaining interests on the deposits into the particular account that is linked to the Secured MasterCard® credit card. The subscribers of this credit card provided by the Orchard Bank are exempted for having to make payments towards the Annual Percentage Rate if and only if they qualify for the Introductory offer that is given for the initial six months by the Orchard Bank. The Annual Percentage Rate imposed upon the Orchard Bank® Secured MasterCard® credit cards varies between nearly 9 percent and around 15 percent.

The Annual Fee that is charged for these use of the Secured MasterCard® credit cards provided by the Orchard Bank depend upon the facilities which are subscribed to, on the part of the consumers. The maximum Annual Fee that is imposed may be as high as USD 48, whereas some subscribers are exempted form the payment of the same. USD 200 is the minimum deposit that has to be maintained for the account that is linked to the Orchard Bank® Secured MasterCard® credit card, in order to avail of the facilities that are provided through this particular credit card.

The Cash Advance Fee attached with this Secured MasterCard® credit card is about a low 5 percent, with the provision of being raised to USD 5, if the percent amount is lower than that. The Orchard Bank® Secured MasterCard® credit card in effect reports to each of the three major credit bureaus present in the U.S. and as a result of this, constructs a strong credit history for the respective consumer.

The major credit bureaus which are active in the U.S. collecting and reporting information regarding the credits of all consumers are as follows :

• TransUnion credit bureau
• Experian credit bureau, and
• Equifax credit bureau.

The consumers of the Orchard Bank® Secured MasterCard® credit cards, similar to almost all credit cards provided by the Orchard Bank, can determine their own dates of payments that have to be made towards the expenses incurred through the use of the credit card. To add to all of these benefits, the Orchard Bank® Secured MasterCard® credit card entitles the respective consumers to a Zero Liability Fraud Protection. Through this facility, the consumers are protected against any sort of unauthorized or fraudulent transactions which may be completed using the balances from their personal credit card.

The Orchard Bank® Low APR MasterCard® credit card.

The Orchard Bank® Low APR MasterCard® credit card actually refers to the low Annual Percentage Rate that may be attached with all the types of Orchard Bank® MasterCard® credit cards which are offered whether the Orchard Bank offered credit card is Gold MasterCard® credit card, Silver MasterCard® credit card, or Platinum MasterCard® credit card.

The low flat Annual Percentage Rate that is imposed upon these Orchard Bank® MasterCard® credit cards is the reason behind such nomenclature. The APR imposed upon the Orchard Bank® MasterCard® credit cards under this scheme is about a 8.9 percent. The Annual Fees that is charged for using the various types of the Orchard Bank® Low APR MasterCard® credit cards are determined by the Orchard Bank authorities keeping in mind the credit worthiness of the credit card consumer as according to the information regarding the credit history of the particular consumer derived from three major credit bureaus in the U.S.

The Annual Fee imposed upon the Orchard Bank® Low APR MasterCard® credit card may vary between about USD 48 and around USD 96. The Orchard Bank® Low APR MasterCard® credit card entitles the respective Orchard Bank® MasterCard® credit card consumers to decide the suitable dates of payments. These credit cards at the same time come with the advantage of negotiable payment options which implies that the Orchard Bank credit card consumer can pay back the dues (incurred through the usage of the Orchard Bank® MasterCard® credit card) in smaller instalments over a certain time.

In addition, similar to most Orchard Bank® MasterCard® credit cards, the Orchard Bank® Low APR MasterCard® credit card completely protects the respective credit card consumer from the payment of expenses which may be incurred as a result of either unauthorized or fraudulent use of the balance available in the account linked to the particular credit card through the One Hundred Percent (100 %) Fraud Liability Protection, which is attached with this specific Orchard Bank credit card.

However, these Orchard Bank® MasterCard® credit card are not entitled to the services of the Balance Transfers which enable the consumers to transfer funds between accounts which are linked to the Orchard Bank® MasterCard® credit cards through the Online Banking services provided by the Orchard Bank. Similar to most other Orchard Bank® MasterCard® credit cards, the Orchard Bank® Low APR MasterCard® credit card too, is not entitled to the introductory offer which entitles the Orchard Bank credit card consumer to exemption of payment from Annual Percentage Rates for the initial six months of subscribing to the credit card service offered by the Orchard Bank.

The Orchard Bank MasterCard® Selector tool.

The MasterCard Selector is an instrument used by the Orchard Bank in order to assist the consumers in selecting the particular Orchard Bank MasterCard® credit card that will best fit the requirements of the respective consumers. Through the use of this tool, the Orchard Bank authorities are able to refer a choice of MasterCard® credit cards that are considered to be suitable for the specific consumer.

This application, however, is only available through the Online Banking facilities of the Orchard Bank and can be used by the consumers by logging on to the official website of the Orchard Bank through any computer that is linked to the internet. The applicant is then asked to furnish certain personal information related to the individual requirements of the applicant.

The information provided by the potential consumer is then analysed by the bank, and a customized credit card is suggested by the Orchard Bank for the subscription of the applicant, as according to the personalized needs of the applicant. All this is done with, before the procedure of the application moves ahead. If the potential consumer decides upon the Orchard Bank recommended credit card, then the process is furthered as the potential consumer thereafter continues with the application for the Orchard Bank® MasterCard® credit card, recommended by the Orchard Bank.

At the end of the application procedure, when the approval of the application on the part of the Orchard Bank authorities has been taken care of, the applicant is admitted as a consumer of the specific Orchard Bank® MasterCard® credit card chosen by him or her.