Applied Bank Secured Visa Card

Applied Bank Secured Visa Card

The Applied Bank Secured Visa Card is a safe card for people who really need a credit card and have no other place to turn to.Applied Bank Secured Visa Card

Basics on Applied Bank Secured Visa Card Card

Applied Bank Secured Visa Card is intended for people who refuse to apply for a credit card or whose credit has been replaced. As a result, people with bad credit (below 620) can qualify. However, this does not mean this card is free. First, you need a security deposit that ranges between $ 200 to $ 500. While the annual percentage rate for purchases and advances is relatively low at 12.99%, this card charges various fees, these include:

Annual Fee of $50 in the first year, then $9.95 monthly (that’s $119.40 annually)

Credit Limit Increase Fee of $100

Late Payments Fee of $32 to $35

Returned Payments Fee to $30

Dishonored Check Fee to $30

Applied Bank Secured Visa Card

Credit Cards – Applied Bank

https://www.appliedbank.com › cards

Applied Bank Credit Cards – Designed for You to Build Credit · Unsecured Classic Visa® Card – Regardless of Past Credit History · 9.99% APR Secured Visa® Gold

Applied Bank Visa Secured Credit Card

https://onlineacceptance20.appliedbank.com

The Applied Bank® Gold Preferred® Secured Visa® Credit Card can be used at all of your favorite locations including grocery stores, gas stations, …

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Applied Bank® Secured Visa® Gold Preferred® Credit Card

https://wallethub.com › Reviews › All Credit Cards

Applied Bank® Secured Visa® Gold Preferred® Credit Card ; Monthly Fee→$0 ; APR on Purchases. 9.99% ; Applied Bank Secured Gold Card’s Additional …

Applied Bank Secured Visa Gold Preferred Credit Card Review

https://money.usnews.com › Money › Credit Cards

If you need to build or rebuild your credit, consider the Applied Bank Secured Visa Gold Preferred Credit Card. You must deposit $200 to $1,000 to activate the

Strengths and Weaknesses

Low-interest rates

There are no fees for account set-up

Credit checks are not needed

There is no penalty interest rate

Weaknesses 

High tax

The credit limit is very low

There is no interest paid on the deposit

No grace period

There is no reward

Review

This secured credit card expresses the phrase “you get what you pay for” on its head. In this case, you pay a lot, but you don’t get a lot of money in return.

Approval for an Applied Bank Secured Visa Card is likely to be easy (because there is no credit check done), but you have to pay the urge fee. In fact, the longer you have it, the more expensive it will be.

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There are no registration fees or arrangements, but there is an annual fee of $ 50 for the first year. This is no scandal, but not cheap either. But be careful after the first year: Annual fees will be reduced and replaced with a monthly fee of $ 9.95 – or close to $ 120 a year!

The bank also charges $ 100 every time your credit limit increases or your account is updated.

Not much is gotten from this. The credit limit based on the deposit you make is very small – only $ 200 to $ 500, which is the lowest amount we’ve ever seen. The bank also does not pay interest on the deposit made too.

The only positive feature is the low-interest rate, which does not increase even if there is a delay. With most other cards, you have at least 25 days to pay your bills. There are other secured cards with lower rates on the market.

Suggestions

You should avoid this card unless you need a credit card and this is the only one you are qualified to get.

About Chris Git

I am an SEO person with over five years of experience. I am mostly into product lunch and review. I feed on tech, Dring Tech, and Dream tech. My hobby is knowing how everything works. You are welcome to my world of content development and product review at https://logingit.com/ I am also a financial analyst with an organization. It has been my sincere interest to help people solve their issues on credit cards. There are lots of questions in the mind of many credit card users. These range from which credit card is best? How many credit cards should I have?

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