With an increasing number of consumers carrying a significant balance on their credit cards, it's no wonder that low interest credit cards are becoming more and more popular. The problem is, not all low interest cards are created equal. How do you know which are the best low interest credit cards? We have the answers.
Star Reviews decided to compare low interest credit cards for our readers. The resulting low interest credit card reviews will help our readers determine which are the best credit cards and which should be avoided. Orchard Bank MasterCard Secured is one of the low interest credit cards we researched. Our findings are detailed in the review below.About Orchard Bank MasterCard SecuredOrchard Bank MasterCard Secured is a great credit card for those who are interested in a low interest credit card, but who don't have the credit rating required to qualify for an unsecured card. This secured credit card offers those with blemished credit the opportunity to hold a low interest card and improve their credit rating at the same time.
Website Navigation:The website for Orchard Bank MasterCard Secured was user friendly and easy to navigate. While we were navigating the application page, we were presented with an opportunity to chat with a live representative. No other credit card company we researched offered this website assistance during the application process.
Star Reviews' Favorite Feature: Many low interest secured cards have high annual fees, but Orchard Bank MasterCard Secured has an annual fee of just $35 making it a great choice for those with less-than-perfect credit.
Features:
- Online account access.
- Emergency card replacement.
- Lost and stolen card reporting.
- Fraud protection services.
- Choice of payment due dates.
Rewards:
Orchard Bank Secured MasterCard does not offer a rewards program.
Introductory Offers:
Orchard Bank Secured MasterCard does not currently have any introductory incentive offers available.
Standard Terms:
- Minimum deposit of $150 for secured line of credit.
- 14.90% variable APR.
- Cash advance APR is based on the Prime Rate plus additional points.
- $35 annual fee.
- No added cost for additional cardholders.
- 25-day grace period.
- $29 late payment fee on balances up to $1,000, $35 on balances above $1,000.
- $29 over-the-limit fee.
- 5% cash advance fee with a minimum of $5.
Customer Support:
Orchard Bank offers customer support via email, phone, an FAQ database and instant chat. We found the company's phone support to be very helpful and our call was answered within just a few minutes. Access to chat was instantaneous as well. Our email question, however, went unanswered. We sent our email request via the online website form. We did receive an email back, but it stated that because we had not logged in to the website to send our request (you must be a card holder to log in) they were unable to answer our question.
Upside:
Relatively low interest and a low annual fee.
Downside:
A security deposit is required to open a line of credit.