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Credit Card Offer Review


Applied Bank® Secured Visa® Credit Card
Issued by Applied Bank



Overall Rating
Benefit Rating
Special Offer: 12.99% fixed APR card from Applied Bank.
Purchase APR: 12.99% Fixed
Annual Fee: See Terms
Category: Secured
Review
The Applied Bank® Secured Visa® Credit Card, issued by Applied Bank, is designed for those with limited or poor credit history who want the convenience of a credit card.

The major benefit of this card is the fixed APR of 12.99% for purchases and cash advances, which is reasonably low for a secured card. There is a $200 minimum deposit required and a $500 maximum.

Unlike most secured credit cards, this card provides additional services and benefits, including online account access and various fraud protection services. The Applied Bank® Secured Visa® credit card also offers worldwide acceptance at millions of locations, as well as monthly credit bureau reporting.

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.
 


Most Attractive Feature(s):
No application fee; monthly credit reporting.
 
Least Attractive Feature(s):
Issuer does not pay interest on the amount deposited.
 
Additional Perks:
See website for additional benefits.
 
Important Notations:
Credit bureau reporting.
See website for complete terms and conditions of card usage and application disclosure.

 
Note: The review is believed to be accurate during the last update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application. Credit card review information is provided by CardOffers.com, Inc.