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NerdWallet > Credit Cards for Bad Credit & No Credit History > Orchard Bank® Visa® Cards
Review / Compare / Reward Calculations / Interest Calculations / Rankings / Comments
Orchard Bank® Visa® Cards
Capital+One Orchard+Visa Credit Card

(3.5/5 - 160 Votes)
Net Annual Rewards
$-59
Reward Rate
0.00%
Annual Fee
$39 - $59 the first year, $35 - $59 per year thereafter*
Signing Promo
None
APR, variable*
Min APR:
15.0%(V)
Max APR:
25.0%(V)
Default:
29.5%(V)
Cash Adv:
20.9%(V)
Intro APR Promotions
Purchase:
None
Transfer:
None
Summary
  • Reports to 3 major credit bureaus monthly providing you the opportunity to rebuild your credit
  • Acceptance at millions of locations worldwide, including website purchases and reservations
  • Your account information is updated and at your fingertips 24/7 so you can manage it your way
  • Email and text messages are available to remind you of your upcoming payment due date
  • Knowledgeable customer service representatives to assist you with questions or concerns

Compare To Our Most Popular Cards For The Category

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Compare To Citi® Platinum Select® Visa®

Why do we think you should consider this card?

Pay 0% interest for 21 months
No annual fee

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Reward Details & Calculator

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Rewards Type: None

Signing Promotion
$0
Estimated Annual Rewards
$21,600 * 0.00%
$0
Annual Fee, 2 yr avg
$59
Annual Rewards (Rewards less Fees)
$-59

Details

  • This card is saddled with higher than normal fees, but is much easier to qualify for than most unsecured credit cards

Calculate Interest & Finance Charges

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Use the sliders to the left to calculate balance transfer interest and APR interest for this particular card.

Finance Charge, Balance Transfer of $10,000*

Balance Transfer Fee, 5.0%
$500
APR, 24 months
$3,644
Total
$4,144

*Average APR for Balance Transfers of 17.5% includes transfer fees and APR promotions.

Effective Annual Rate, Purchases

Promo EAR, 0 months
0.00%
Ongoing EAR, 24 months
16.06%
Total EAR, 24 months
16.06%

APR Rankings

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APR
14.99%
ranks #1501 out of 1751 cards.
Average is 11.78%.
Balance Transfer Fee
5%
ranks #1600 out of 1639 cards.
Average is 1.67%.
Cash Advance APR
20.9%
ranks #514 out of 1002 cards.
Average is 18.74%.

Rewards Rankings

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Annual Fee
$59
ranks #1704 out of 1773 cards.
Average is $9.
Base Reward Rate
N/A
Effective Reward Rate
N/A
Sign-up Bonus
$0
ranks #1762 out of 1762 cards.
Average is $33.
Credit Card Review: Orchard Bank® Visa® Cards


Author:
NERDBOT

Get the scoop on the Orchard Bank® Visa® Cards from the finance nerds! We'll give you our take on the perks and drawbacks of this credit card and compare it to a category leader. For a dynamic comparison of all our cards, check out our credit card tool.

NerdWallet Review: The Orchard Bank® Visa® Cards

Annual fee: The Orchard Bank® Visa® Cards does come with an annual fee. An annual fee isn't necessarily a bad thing. Those who put a lot of money on their cards will often benefit from higher rewards rates or more extensive perks. Credit cards for bad credit will often carry annual fees as well, and are pretty much a necessary evil if you're looking to build credit.

Credit Card Showdown: Orchard Bank® Visa® Cards vs. Citi® Platinum Select® Visa®

Lower cash advance APR: It has a lower cash advance interest rate, which is the rate at which you're charged when you withdraw cash from a teller or ATM from your line of credit. Remember that cash advances start accruing interest the day you take the money out, meaning you won't get the same grace period that normal purchases come with. It's great that the Orchard Bank® Visa® Cards has a low cash advance rate, but it's good practice to avoid taking them out.

Higher ongoing APR: The Orchard Bank® Visa® Cards has a higher ongoing APR, which may influence your decision if you tend to carry a balance. Even small differences can be significant: considering that the average American has about a $10" The interest rate on the card is the most important factor if you're going to carry a balance."

Higher balance transfer fee: It has a higher balance transfer fee. BT fees can be prohibitive if you're trying to transfer a debt. If you're transferring $10,000, a difference in transfer fees of just 2% adds up to $200 saved or lost.

Same late payment fee: The Orchard Bank® Visa® Cards has a late fee that's the same as the one on the Citi® Platinum Select® Visa®. Ideally, you shouldn't have late payment fees anyway. Not only do you have to pay this one-time charge, you might get stuck with a big penalty APR that lasts six months or more.

Read the full review of the Citi® Platinum Select® Visa® on our blog

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