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Applied Bank® Unsecured Classic Visa® Card
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Pre-qualify in less than a minute without affecting your credit score
Build Credit
A REAL Visa® Credit Card with Automatic Reporting to all Three National Credit Bureaus
Regular APR
29.99% Fixed
Card Network
Annual Fee
See website for Details*
Credit Score Needed
Bad, Fair
Offer Details
  • Get Pre-Qualified in Less Than a Minute

  • A $300 Unsecured Credit Line which can be used at Grocery Stores, Gas Stations, Discount Stores, ATM's and Online!

  • A REAL Visa® Credit Card with Automatic Reporting to all Three National Credit Bureaus

  • No Penalty Rate. Your Rate Won't Go Up Even If You are Late

  • Access Additional Credit With On-Time Payments and Responsible Usage

  • A True Unsecured EMV enabled (chip) Visa Credit card

  • Does not require perfect credit for approval

  • Fixed APR and Manageable Monthly Payments

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All content is written by editorial staff or writers engaged by the site, not by marketers/sales staff. Editors responsible for producing the content are not in contact or affiliated with any advertiser and are not compensated based on success of the affiliate links. All decisions regarding recommendations are determined separately from advertising relationships. Any opinions, analyses, reviews or recommendations expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

Applied Bank® Unsecured Classic Visa® Card Review

September 13, 2021

In this Applied Bank® Unsecured Classic Visa® Card review, we’ll cover the card’s credit score requirements, fees, compare its pros and cons, and more. 

This Article Contains: 

(Click on a link to jump to the specific section) 

Who is the Applied Bank® Unsecured Classic Visa® Card for?


If you have bad credit, or are a first-time bank account holder, the Applied Bank® Unsecured Classic Visa® Card could be a good option for building up your credit.

There’s no minimum credit requirement, and the card issuer reports your credit card account information to the three major credit bureaus (TransUnion, Equifax, and Experian) every month. 

This makes it an ideal card for people with bad credit scores or young adults just starting their personal finance journey. With on time payments and low credit utilization, you should be able to build your creditworthiness consistently. 

Applied Bank Unsecured Visa credit score requirements


Since the primary purpose of this card is to help people build credit, the card issuer
doesn’t mandate a minimum credit score, so customers with poor credit or no credit don’t have to worry.

However, there are a few basic requirements you need to meet before qualifying for this offer. 

You will need to be over 18, have a Social Security Number or Individual Taxpayer Identification Number, and have proof of a source of income.  

Applied Bank® Unsecured Classic Visa® Card Fees


The issuer (Applied Bank) charges users an
$89 processing fee. The card also comes with a first-year annual fee of $75. The annual fee drops to $45 in the second year but is then accompanied by an additional monthly fee of $6.25 (adds up to $75.5 annually). 

Credit cardholders should also note the additional costs they might have to bear apart from the first-year membership fee and processing fee.

These can include:

  • Additional cardmember fee: $30
  • Replacement card fee: $30
  • Stop payment fee: $30
  • Late payment fee: $38
  • Optional payments fees: $12.95 each
  • Reinstatement fee: $50
  • Automated account information fee: 50 cents for every inquiry

Applied Bank® Unsecured Classic Visa® Card APR


The card has an
APR of 29.99% (fixed) and an initial credit limit of $300. However, there’s an option to increase your credit line by paying an extra $100. Note that this APR applies to a cash advance too (where you use the credit card to withdraw cash).

This interest rate is higher than most other new credit card offerings. For those with poor credit, most credit building cards have a variable APR of around 23%

Now, let’s weigh the pros and cons of Applied Bank unsecured credit cards:

Pros and Cons of the Applied Bank® Unsecured Classic Visa® Card


Let’s take a look at some of the pros and cons of the Applied Bank credit card: 

Pros

Here are some of the advantages: 

  • Quick and easy application process - With some eligible applicants approved in minutes, this card is ideal for anyone looking to make emergency purchases that you can’t afford in cash. 

  • No security deposit - Unlike many other credit building cards, this card isn’t a secured card, meaning there’s no security deposit required. 

  • No minimum credit score required - This card has no minimum credit requirement. This way, customers don’t have to worry about their credit history or the lack thereof.

  • Reports to three major credit bureaus - The credit card company reports your account information to each major credit bureau: Experian, Equifax, and TransUnion. With on-time payments and responsible credit usage, you can effectively rebuild your credit line. 

Cons

Below are a few downsides to the Applied Bank credit card: 

  • Abundance of fees - The list of fees is exceedingly long for this offer. Cardholders need to pay upwards of $100 each year just to own this card.

  • No welcome bonus - Since the Applied Bank Unsecured Classic Visa Card mainly serves as a tool for customers to build their creditworthiness, it does not offer any welcome bonus or cash rewards for eligible purchases.


  • No balance transfers -  Applied bank unsecured credit cards don’t let you perform a balance transfer. A balance transfer is a process where you transfer your balance from one card to another.

    Now that we’ve looked at the advantages and disadvantages of Applied Bank® Unsecured Classic Visa® Card, let’s look at some alternatives:

Alternatives to the Applied Bank® Unsecured Classic Visa® Card


Here are a few similar cards you could consider using: 

Final thoughts 

The Applied Bank Unsecured Card is far from ideal for those with a less than perfect credit history or those with no credit at all. The application process is quick and easy but the list of fees such as the one-time processing fee and a recurring monthly fee may be a dealbreaker for many. 

You can apply for this card online here.

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Editorial Disclaimer
All content is written by editorial staff or writers engaged by the site, not by marketers/sales staff. Editors responsible for producing the content are not in contact or affiliated with any advertiser and are not compensated based on success of the affiliate links. All decisions regarding recommendations are determined separately from advertising relationships. Any opinions, analyses, reviews or recommendations expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
Approval Odds
BestCreditCard calculates your approval odds by comparing your credit profile to other BestCreditCard members who were approved for this product. These approval odds are estimates only and do not guarantee approval. Credit card issuers use a variety of different types of credit scores and criteria to make credit decisions. The TransUnion credit score we provide is based on the VantageScore 3.0 model and may not be the credit scoring model used by financial institutions presenting offers on our website.