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$48
Annual fee
9.99%
Purchase APR (fixed)
300
Recommended credit score
Review by
Kevin Joey Chen is a credit cards, banking and investments writer whose work and analysis have appeared on CNN, U.S. News & World Report, Business.com, Lifehacker and CreditCards.com. He's passionate about helping you get your finances in order by expertly navigating cutting-edge financial tools — including credit cards, apps and budgeting software.
You can apply without a credit history or with any credit score. Applied Bank guarantees your application approval as long as you can provide verification of residence, identity and ability to pay.
The card reports to all three major credit bureaus — Equifax, Experian and TransUnion. With timely payments, you should be able to build your credit and apply for a better card.
No matter what credit score you have, you can be approved without a credit check. Applied Bank will simply need to verify your identity, residence and ability to pay for the card.
You get a 9.99% fixed APR on purchases. This is low when compared to other cards, some of which have APRs of up to 26% variable.
Your deposit acts as your credit line. With this card, the minimum you can deposit is $200 and the maximum $1,000. You can increase your credit limit up to $5,000 after your application has been approved.
Get access to your account online and via your mobile device. You can pay your credit card bill, check your balance, monitor your account and more.
To own the card, you’ll pay a $48 annual fee. This amount will immediately be charged to your card’s balance, thus lowering your total available credit by $48 until you pay it off.
The APR on purchases is one of the lowest available on a credit card, but you’ll get no grace period before your purchases start accumulating interest.
Each time you use your card outside of the US, you’ll pay a fee of 3% of the transaction.
You’ll pay fees for late payments, returned payments, replacement cards, card reinstatement, stop payments, optional payments and automated account information.
Most of the negative feedback revolves around hidden fees and customer service. Those who are satisfied with the card claim they managed to increase their credit score in a few months of using the card.
The Better Business Bureau (BBB) rates Applied Bank with an A+. As of writing, there are over 100 complaints on the BBB website. Applied Bank has answered or completely resolved each of these complaints.
If you’ve had credit difficulties in the past and you’re unable to get a better card, the Applied Bank® Secured Visa® Gold Preferred® Credit Card could be a decent choice. Applied Bank offers easy approval with no credit check, and you’ll get a chance to build your credit score.
However, know that the card has an annual fee and no grace period on purchases. You’ll also want to take a good look at the fees you may face when considering this card.
If you’re still wondering which card will best help you build your credit, make sure you check out other secured cards and compare your options until you find the card that fits your needs.