- Rating:
- Reviewed on:
2008-09-22 00:00:00 - Issuer: Applied Bank
- Category: Secured
- ARP: 9.99%
- Intro Rate: None
- Intro Period: None
- Annual Fee: $50
Applied Bank™ Secured Visa® Credit Card
- 9.99% Low Fixed APR - Rate Won’t Change Even If You’re Late!
- CHOOSE Your Credit Limit Up To $5,000*
- $0 Fraud Liability
- NO Credit Requirements
- NO Income Requirements
- ACCEPTED Worldwide at Millions of Locations
- CREDIT Bureau Reporting
- *Minimum $200 Deposit Required. Your Credit Limit Will Be Equal to the Amount of Your Deposit.
The Applied Bank™ Secured Visa® Credit Card, issued by Applied Bank™, is designed for those with limited or poor credit history.
The major benefit of this card is the fixed APR of 9.99% for purchases and cash advances, which is reasonably low for a secured card. There is a $200 minimum deposit required, a $5,000 maximum, and an annual fee of $50.
Unlike most secured credit cards, this card provides additional services and benefits including online account access and various fraud protection services.
It is important to note that a major drawback of the card is that there is no grace period for purchases. This means that interest will be applied immediately to any charges made with the card. A downside is that this card does not pay interest to the deposit amount, which sets it apart from other secured cards that do.
Those who can afford the $200 minimum deposit and do not mind accumulating finance charges once a transaction is posted, will benefit most from the very low rate that the Applied Bank™ Secured Visa® Credit Card has to offer.
