Applied Bank | Applied Bankreg Secured Visa Gold Card

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

Applied Bank Secured Visa Gold

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Review

The Applied Bank® Secured Visa® Gold 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® Gold Card has to offer.

Updated: January 2, 2009

Most Attractive Feature(s) : No application fee; very low annual fee.

Least Attractive Feature(s) : Issuer does not pay interest on the amount deposited.

Terms and Conditions

Note: The review on this card was updated on January 2, 2009. The review is believed to be accurate during the 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.

Specifics

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Category Definitions

Card Category: Secured

Annual Fee : $50

Additional Cardholders : $0

Grace Period : None

Minimum Credit Limit : $200

Maximum Credit Limit : $5,000

Late Payment Fee : $32 or $35 on credit limits of $1,000 or more

Over-The-Limit Fee : $32 or $35 on credit limits of $1,000 or more

Cash Advance Fee : Greater of $5 or 5%

Minimum Deposit : $200

Maximum Deposit : $5,000

Deposit Interest : No

Application Fee : $0

Total First Year Fees : $50

Perks / Notations

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.

Additional Information

Apply Online for the Applied Bank® Secured Visa® Gold Card.

See other cards issued by Applied Bank

APR (Purchases) : 9.99%

APR (Cash Advances) : 9.99%

Finance Configuration : Average Daily Balance (including new purchases)

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