Applied Bank® Secured Visa® Credit Card
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Key Features
- 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.
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The Applied Bank Secured Visa offers guaranteed approval to everyone who applies using verifiable information and makes a deposit. † It's ideal for individuals who have had credit problems in the past, or for people who don't have a credit history yet and find it difficult to qualify for an unsecured card.
To obtain the card, you open an FDIC insured deposit account with Applied Bank, which will be used to secure your card and will not earn interest. Your Secured Visa limit will be equal to the amount of your deposit, and must be between $200 and $5,000. The Applied Bank Secured Visa offers a 9.99% fixed APR, with no grace period (interest starts accruing as soon as you make a purchase). Your card can be used for purchases online or at more than 27 million locations around the world.
The Applied Bank Secured Visa will report your payment history to credit bureaus. The card offers zero fraud liability protection – you will not be liable for unauthorized charges made to your Secured Visa.
The Applied Bank Secured Visa has an annual fee of $50, with the first annual fee billed to your card on the first statement. This means your available credit will be $50 less than the amount you deposit to secure your account until it's paid off. If you choose additional options with your card, such as Payment Protection or Applied Advantage, those fees will be deducted from your available balance as well – even if it puts your card over-the-limit. Additional fees apply for over-the-limit transactions, balance transfers, and late payments. You can keep your fees manageable by paying your card as soon as the statement arrives, and avoiding spending more than your credit limit.
† Requires identity and residence verification and minimum deposit amount of $200 up to $5,000 with Applied Bank.Review Date: 3/9/2009
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