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Orchard Bank Platinum MasterCard

Enjoy the prestige of Platinum with no up front fees
Premium Platinum benefits including Purchase Protection
Great credit card to strengthen your credit
Reports to all 3 credit bureaus monthly, which can help improve your credit score


Take your credit to the next level, with an Orchard Bank Platinum MasterCard®. With a unique approach of educating customers on all aspects of obtaining and managing credit, the Orchard Bank MasterCard® continues today as a leader in the credit card industry.

Orchard Bank Platinum MasterCard®

• Enjoy the prestige of Platinum with no up front fees
  
• Premium Platinum benefits including Purchase Protection
  
• Great credit card to strengthen your credit
  
• Reports to all 3 credit bureaus monthly, which can help improve your credit score
  
• Free Online 24-hour Account Access and Bill Pay
  
• Periodic credit limit increases

DID YOU KNOW?

	Both debt settlement and debt consolidation can reduce and eliminate your debt. But each will have different consequences on your credit score and future financial options. Before choosing either option, educate yourself on the pros and cons of each. The Benefits Of Debt Settlement Debt settlement means that part of your debt is immediately wiped out by your creditor. You will find instant financial relief in your monthly budget. And the rest of your debt payments are much more manageable. You will also find that you can start rebuilding your credit from this point on. Instead of juggling late payments, high debt loads, and other factors, you can focus on managing your credit better. The Downside Of Debt Settlement There are a few downside to debt settlement. The biggest one is the immediate affect on your credit score. Debt settlement is seen much like a foreclosure; your score will be 500 or lower. And while you can improve your score, for the next two years you will have to work with sub prime lenders. You will also have to deal with the tax implication of a write off. The IRS sees debt settlement like receiving a cash gift or income. Depending on where you live, you may also have to pay additional state taxes. The Benefits Of Debt Consolidation Debt consolidation can also help you get out of debt. With consolidation, a company negotiates lower rates with your creditors. You make one monthly payment to the debt consolidation company, and they handle paying all your accounts. They also deal with any paperwork hassles, canceling fees, and closing accounts. Usually, you can be out of short term debt in five years or less. The Downside Of Debt Consolidation Debt consolidation will have less of an impact on your credit score. Most lenders will temporarily put a hold on extending you more credit until they see you are making regular payments. You need to still monitor your accounts to be sure the debt consolidation company is making on time payments. Picking The Right One There is no perfect solution for getting out of debt. Debt settlement can help you see an instant improvement in your finances, but at the cost of your credit score. Debt consolidation simplifies the process with minimum affect on your credit, however it does take time.

The internet can be a great asset in finding the best loan for your personal needs. Online loans can be a convenient way to apply and check on your loan. Some online services also offer lower interest rates than many loans offered by more “traditional” lenders such as banks and finance companies. Traditional lenders also offer much of their information on their websites, so online research can provide an easy method of comparison to aid in your decision.

If you've been considering applying for an online loan, it's best to do a little bit of research beforehand so that you'll know exactly what sort of loan you're getting. And make sure that you're getting the best offer for that loan that you can.

Let's look at some of the various advantages of getting an online loan, as well as ways to research traditional lenders.

Advantages of online loans

One of the main advantages of getting an online loan is the ease of accessibility to both the lender and the loan via the internet, which can be a great boon if you're usually pressed for time during the regular business day. Instead of having to visit a bank or finance company during their hours of operation, with an online loan you can simply visit a website for the information that you need at any time during the day or night.

Most online lenders feature secure websites with additional security measures in place to protect your personal information. Often, you can either contact the lender directly via e-mail or apply for a loan from the privacy of your own home. Many of these lenders can offer loan decisions in a time frame of between 30 seconds and two days, and since most of these lenders use electronic bank transfers to handle funds borrowers can often receive their loan money either the next day or within a few days of their loan being approved. approved.

Advantages to traditional loans

Loans given through a bank or finance company generally offer more options than online lending. Banks will offer better rates to members who carry a checking or savings account through them. Competition between major banks ensures the best Banks and finance companies offer basic information on their websites, but you can often find more out through a one-on-one consultation with a bank officer. Often, researching a traditional loan online will leave you with more questions than answers.

Things to keep in mind

The more you research, the better options you'll find. Better online lending sites will offer various informational pieces on their products and services, as well as some information on financial services in general in order to assist you in making your financial decisions and to convey a sense of interest that shows the online lender to be concerned about your finances.

It is also advisable to make sure that the loan that you decide upon is truly within your ability to repay. Shop around with online and traditional lenders to get the best interest rate and keeping your loan amount low in comparison to your total equity. This will ensure that you can meet payment deadlines even if sudden expenses arise, and will save you money in the long run as well.

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