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Applied Bank® Secured Visa® Gold Preferred® Credit Card

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Rewards Rate
N/A
Sign Up Bonus
N/A
Typical Credit Score
Limited / None
Applied Bank® Secured Visa® Gold Preferred® Credit Card
Applied Bank® Secured Visa® Gold Preferred® Credit Card
Pros & Cons
  • Better than Prepaid...Go with a Secured Card! Load One Time - Keep On Using
  • Absolutely No Credit Check or Minimum Credit Score Required
  • Automatic Reporting to All Three National Credit Bureaus
  • 9.99% Low Fixed APR - Your Rate Won’t Go Up Even if You Are Late
  • Activate Today with a $200 Minimum Deposit - Maximum $1,000. * Increase Your Credit Limit up to $5,000 by Adding Additional Deposits Anytime
  • Lots of annual fees
Rated Best for:
Applied Bank® Secured Visa® Gold Preferred® Credit Card Review

Who is the Applied Bank® Secured Visa® Gold Preferred® Credit Card for?

If you’re new to owning a bank account or trying to establish credit, the Applied Bank® Secured Visa® Gold Preferred® Credit Card could be what you’ve been looking for. This card is among the best for new and inexperienced cardholders. This card has a rare “no credit line” policy, meaning they won’t take your credit score into account when deciding whether or not to approve you for the card.

Upon attaining this card, you will not need to link any bank accounts. Probably one of the most exciting features of this secured credit card is that all money initially deposited into this card will be used as a credit line. With a credit line, money can be taken out from your bank account under your bank’s name and be repaid with minimal interest. Unlike most credit cards, the ability to build credit is also a feature that comes with this card. With monthly reporting to the three major credit bureaus (TransUnion, Equifax, and Experian), your creditworthiness becomes more known and slowly improves.

One thing that should absolutely be noted about this card is its low variable APR rate. For most secured credit cards, the variable APR will be lower than traditional credit cards, but with an APR of only 9.99%, this cards’ rate is considered extremely low. This is definitely something to be thankful for when making a big purchase.

Rewards Rate

Something very interesting about this card is it doesn’t have typical bonus rewards points, so there is ultimately nothing of value to redeem. This card is for those who are just starting out and trying to figure out how to establish a great credit score.

Benefits and Credits

The no credit check that this card offers is another huge bonus. With no need to worry about bad credit or non-existing credit, getting approval for this card is relatively easy. If you’re a recent college graduate looking for work, this card is great to start out with. If you’re currently in college and looking to get a head start on your finances for the future, opening a credit card connected to the three major credit bureaus would be a positive start to personal gains in raising credit score.

The low fixed APR rate this card offers is unheard of. While many credit cards offer variable rates between 13.99% to 25.99%, this low APR rate is only 9.99%. On average secured cards, this would still be a low APR rate due to most cards having an APR of around 13.99% to 15.99% variably. With a fixed rate of 9.99% that never goes higher, this is a great card to start with so long as you stay away from the high annual fees.

Welcome Bonus

While this card has no welcome bonus, it is still a great starter card for those with lower credit scores. The welcome bonus could essentially be considered the initial deposit made, as that would be the credit line for the cardholder.

Annual Fees

This card has a somewhat high annual fee of $48. For some, this can be seen as quite expensive, and therefore should be taken into consideration when applying.

Another aspect that should be considered is the other fees charged to this card. Additional users, replacement cards, and stopping payment fees are each $30 alone. On top of that, fees for copying and optional payments are $12.95 and $10 respectively.

Finally, there is a 0.5% automated account information fee for each separate account made through the automated account information system.

Conclusion

If you have established credit and aren’t looking to upgrade your credit score, this probably isn’t for you. If you’re someone who wants to get into a better credit score standing, either because you’ve never had one or because of some untimely purchases, this could be the card to set you on the right path.

Complete Card Details
Rewards Rate
N/A
Welcome Bonus
N/A
Typical Credit Score
Limited / None
Intro Annual Fee
N/A
Annual Fee
$48
Additional User Annual Fee
$30
Foreign Transaction Fee
3%
Intro Purchase APR
N/A
Regular Purchase APR
9.99%
Cash Advance Fee
5%
Cash Advance APR
9.99%
Late Fee
Up to $38
Intro Balance Transfer APR
N/A
Regular Balance Transfer APR
N/A
Penalty APR
N/A
Balance Transfer Fee
N/A
Return Payment Fee
Up to $38
Minimum Deposit
$200
Credit Card Network
Visa
Credit Card Issuer
Applied Bank
Applied Bank® Secured Visa® Gold Preferred® Credit Card FAQ

What is the minimum credit score required to apply for Applied Bank® Secured Visa® Gold Preferred® Credit Card?

This information is currently not available. Please refer to the card terms and conditions for more details.

What is the minimum deposit required for Applied Bank® Secured Visa® Gold Preferred® Credit Card?

This card requires a minimum depost of $200

What is the Intro Annual Fee for Applied Bank® Secured Visa® Gold Preferred® Credit Card

The Intro Annual Fee for this credit card is not available at the moment. Please check the terms for more details.

What is the Annual Fee for Applied Bank® Secured Visa® Gold Preferred® Credit Card

The Annual Fee for Applied Bank® Secured Visa® Gold Preferred® Credit Card is $48.

What is the Intro Purchase APR for Applied Bank® Secured Visa® Gold Preferred® Credit Card

The Intro Purchase APR for Applied Bank® Secured Visa® Gold Preferred® Credit Card is not available at the moment. Please check the terms for more details.

What is the Regular Purchase APR for Applied Bank® Secured Visa® Gold Preferred® Credit Card

The Regular Purchase APR for Applied Bank® Secured Visa® Gold Preferred® Credit Card is 9.99%.

What is the Intro Balance Transfer APR for Applied Bank® Secured Visa® Gold Preferred® Credit Card

The Intro Balance Transfer APR for this credit card is not available at the moment. Please check the terms for more details.

What is the Regular Balance Transfer APR for Applied Bank® Secured Visa® Gold Preferred® Credit Card

The Regular Balance Transfer APR for this credit card is not available at the moment. Please check the terms for more details.

What is the Cash Advance APR for Applied Bank® Secured Visa® Gold Preferred® Credit Card

The Cash Advance APR for Applied Bank® Secured Visa® Gold Preferred® Credit Card is 9.99%.

What is the Cash Advance Fee for Applied Bank® Secured Visa® Gold Preferred® Credit Card

The Cash Advance Fee for Applied Bank® Secured Visa® Gold Preferred® Credit Card is 5%.

What is the Late Fee for Applied Bank® Secured Visa® Gold Preferred® Credit Card

The Late Fee for Applied Bank® Secured Visa® Gold Preferred® Credit Card is up to $38.

What is the Penalty APR for Applied Bank® Secured Visa® Gold Preferred® Credit Card

The Penalty APR for this credit card is not available at the moment. Please check the terms for more details.

What is the Balance Transfer Fee for Applied Bank® Secured Visa® Gold Preferred® Credit Card

The Balance Transfer Fee for this credit card is not available at the moment. Please check the terms for more details.

What is the Min. Balance Transfer Fee for Applied Bank® Secured Visa® Gold Preferred® Credit Card

The Min. Balance Transfer Fee for Applied Bank® Secured Visa® Gold Preferred® Credit Card is not available at the moment. Please check the terms for more details.

What is the Foreign Transaction Fee for Applied Bank® Secured Visa® Gold Preferred® Credit Card

The Foreign Transaction Fee for this credit card is 3%.

What is the Return Payment Fee for Applied Bank® Secured Visa® Gold Preferred® Credit Card

The Return Payment Fee for Applied Bank® Secured Visa® Gold Preferred® Credit Card is up to $38.
$738
$1,065
$261
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