Orchard Bank has added a new reward feature to their range of Master Cards. Going forward, all Orchard Bank Master Cards will pay 2% cash rebates on all purchases made on the card. Furthermore, you can earn unlimited rebates!

What is the most interesting aspect of this cash reward is that Orchard Bank (though owned by HSBC Bank) is an issuer of subprime credit cards (ie credit cards for those with bad credit). Applicants will either be approved of a secured card, a gold, platinum of prime platinum unsecured credit card depending on their credit. Fees and rates vary, but Orchard Bank has one of the most reasonable annual fees and rates among most subprime cards.

With this new 2% cash back feature, I expect them to be taking a larger share of the sub prime market. For that matter, there is presently no cash back credit card (aside from this one) that offers a 2% rebates on all purchases. Hence, my opinion is that even if you have good credit, you might want to consider getting the Orchard Bank® 2% Back MasterCard®. It will make a great compliment if you have the Blue Cash from Amex.

This entry was posted on Tuesday, November 28th, 2006 at 11:38 pm and is filed under New Credit Card Announcements. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.