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Are you on the market for a credit line that will help you repair your damaged credit history? If so, our Applied Bank® Secured Visa® Gold Preferred® card review can be of service to your needs. 

A secured credit card is a type of credit card that is backed by a deposit you make to the issuer. This deposit guarantees the issuer that you will pay your bill, making this product a great way to build or rebuild your credit history.

Secured cards typically have lower interest rates and fees than unsecured cards, and they can be a great way to establish or re-establish good credit habits. So if you’re ready to take the first step toward a better financial life, keep reading to learn more about the Applied Bank® Secured Visa® Gold Preferred® card.

The Applied Bank® Secured Visa® Gold Preferred® is a credit card designed to help people with a bad credit history to get their credit scores in check. This product offers one of the lowest APRs in the secured card business, with a fixed 9.99% purchase rate. 

Applied Bank demands no credit checks for new applications, which makes this card the ideal tool for those who need a credit line in order to build or rebuild credit history. It reports all payments to the three major credit bureaus (Equifax, Experian, and TransUnion). So, with responsible use, you can get back on your feet in no time.

The Applied Bank® Secured Visa® Gold Preferred® allows all cardholders to set their own credit limit up to $5000 by security deposits. It has a low annual fee of $48. To activate the card, Applied Bank requires a deposit from $200 to $1000. The annual fee is deducted from the initial deposit, so if you make a $200 transaction, your limit will be $152. 

Like most secured credit cards, some fees come along as you use the card. For instance, there’s a $38 charge in late and returned payments. $30 for stop payment and a $12.95 invoice for each optional payment. If you lose your card, you need to pay the bank $30 for a new one. There’s also a $50 reinstatement fee, and if you purchase anything overseas, the foreign transaction fee is 3%. 

The card is an excellent alternative for anyone that needs to improve their credit scores. Considered by many one of the best products for low/lousy credit consumers out there. See below in our Applied Bank® Secured Visa® Gold Preferred® card review for some of its main perks and cons:

Not at all! Applied Bank doesn’t perform any credit checks for new applicants. No minimum credit score is necessary, and everyone is welcome to apply. This credit card is a product built to assist customers on their path to a healthier financial future. Therefore, it’s available to anyone who needs it. 

The Applied Bank® Secured Visa® Gold Preferred® card is a product made to assist anyone with a limited or damaged credit history in building a healthier financial future. There are no credit checks for new applicants, so you don’t need to worry about hard inquiries on your credit score.

It has one of the lowest purchase rates in the market, with a fixed 9.99% APR. It also reports all payments to the three main credit bureaus in the country. With limited use and timely payments, you’ll see an improvement in your score in as little as a handful of months. 

The card charges an annual fee of $48 and needs a security deposit between $200 and $1000 for activation. You can increase your credit limit up to $5000 by deposit anytime you want. 

So, if you want to learn how to apply for this card, keep reading for the application process below!

The online application for the Applied Bank® Secured Visa® Gold Preferred® card is easy, and it only takes a few minutes. First, you need to access the Applied Card Now website, and the Gold Preferred should be the first option to show up. 

If you scroll down, you should be able to see the online form and some information about the card next to it. Fill in the form with your personal info and contact details. Then, check the boxes stating you’re over 18 and agree to their Terms & Conditions to continue.

After verifying your information, the bank will contact you via e-mail or phone call with more details about your new credit card.

Applied Bank provides a mobile app for all customers to manage their accounts. With it, you can monitor your credit availability, pay your credit card bills, access your billing statements, and much more. However, credit card applications must go through their official website only. 

If you feel like the Applied Bank® Secured Visa® Gold Preferred® card is not the best choice for you – fear not! We brought a similar product that can also help you rebuild your credit score: The Oakstone Gold Secured Mastercard.

Check below for its main features and follow the recommended content for the application process!