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Applied Bank® Secured Visa® Gold Credit Card Review: Bad Credit Credit Cards |
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Rating: |
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Bottom Line: |
Good choice for those with poor credit; Experian and TransUnion credit reporting |
Full Review:
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Applied Bank® Secured Visa® Gold Credit Card is a secured credit card, a good choice for individuals who have no or limited credit history, or have past or current credit issues. There is no annual fee and although it only reports to 2 credit bureaus and not all 3, the credit bureau reporting feature may still help your credit history.
Secured Credit Card
- Guaranteed by your funds, which act as a "security deposit" in case you default on the loan extended by the credit card company.
- Security deposit will be refunded in full if your account is up-to-date and paid on time when you close out your card.
- Looks and works like any other credit card, so it won't be apparent to others that this is a secured card.
- No credit check required, you just fund the card by depositing money into a FDIC-insured account.
Helps Credit History
- Helps boost your credit history by reporting to all Experian and TransUnion credit bureaus every month so you can establish or rebuild your credit. (note: does not report to Equifax)
- Looks like any other credit card on the credit reports - there is no indication that you have a secured card.
- If you make your payments on time, you can help improve your credit score with good payment behavior.
Fees and APR
- $50 annual fee.
- Purchase APR: 9.99% (Fixed) APR. No grace period is provided.
- Balance Transfer APR: balance transfers not permitted.
- Minimum deposit required is $200 and the maximum deposit is $5,000.
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| Purchase APR: | 9.99% (Fixed) |
| Type of Card: | Secured Visa card for those with poor or no credit |
| Min. Secured Card Deposit: | $50 |
| Fees: | $200 |
| Helps Credit History?: | Reports to Experian and TransUnion credit bureaus every month |
Disclaimer: This content is not provided or commissioned by the credit card issuers. Opinions expressed here are author's alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers. This site may be compensated through the affiliate program of the credit card issuers.
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