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Applied Bank® Secured Visa® Gold Preferred® Credit Card review

A secured card with no credit check that lets you build your credit.’s rating: 4 / 5


  • Get this card if you have bad credit or no credit history at all.
  • Pick something else if you want an unsecured card or don’t want to pay an annual fee.
  • Apply with no credit history or with poor credit score.




Annual fee

9.99% fixed

Purchase APR


Minimum Credit Score


Annual fee$48
Welcome offerN/A
Purchase APR9.99% fixed
Balance transfer APRN/A
Minimum Credit Score300

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,, Lifehacker and 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.

Expert review

The Applied Bank® Secured Visa® Gold Preferred® Credit Card is a secured card with a $200 minimum deposit. It has a $48 fee, which is rather high when compared to similar secured cards. Unfortunately, it also has a serious weakness: Applied Bank will start charging interest on your purchases from the day you make them.
The lack of a grace period alone makes the card a poor choice, as it means you’ll pay much more than you expect. It overshadows the card’s benefits, such as no credit check for approval and a 9.99% fixed APR.

If you want to build your credit, consider one of the best no-annual-fee secured cards. You can also find other no-credit-check secured cards with grace periods, such as the OpenSky® Secured Visa® Credit Card.

Apply now

How to apply for the Applied Bank® Secured Visa® Gold Preferred® Credit Card

  1. Select Apply now.
  2. Fill out the form and click Continue.
  3. Complete the next step and review your application. Submit it when ready.

What credit score do I need?

You can apply without a credit history or with any credit score. According to this product’s site, Applied Bank will guarantee your application approval as long as you can provide verification of residence, identity and ability to pay.

Applied Bank® Secured Visa® Gold Preferred® Credit Card benefits

  • Build your credit. 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.
  • Easy approval. 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.
  • Low APR on purchases. 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.
  • Credit line. 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.
  • Mobile banking. 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.
Apply now

Applied Bank® Secured Visa® Gold Preferred® Credit Card drawbacks

  • Annual fee. 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.
  • No grace period. 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.
  • Foreign transaction fee.
    Each time you use your card outside of the US, you’ll pay a fee of 3% of the transaction.
  • Other fees. You’ll pay fees for late payments, returned payments, replacement cards, card reinstatement, stop payments, optional payments and automated account information.
Apply now

Compare secured cards

If this card isn’t right for you, compare other secured cards. Consider factors like if a security deposit is required, an annual fee or if the card offers additional benefits you’ll use.

Name Product Filter values Minimum deposit required Purchase APR Annual fee Minimum Credit Score
Cleo Credit Builder card
A card made with your credit score in mind
Capital One Platinum Secured Credit Card
$49, $99 or $200
26.99% variable
New to credit
A no-annual-fee secured card that separates itself from the pack with a $200 credit limit after making a more affordable than average deposit of $49, $99 or $200.
OpenSky® Secured Visa® Credit Card
Starting at $200
17.39% variable
Apply for this card with no credit check if you're new to credit or have bad credit.

Compare up to 4 providers

What do customers say about the Applied Bank® Secured Visa® Gold Preferred® Credit Card?

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.

I got the card. Now what?

  • Make payments. Pay your credit card bill online or by mailing a check to Applied Bank.
  • Set up automatic payments. Once you register an account on the Applied Bank’s website, you can enroll in automatic payments.
  • Avoid interest. You get a low fixed APR on purchases, but you’ll immediately accrue interest on any transactions. Try paying your balance quickly to pay less in interest.
  • Avoid fees. Late or returned payments can come with fees as high as $38. Keep track of your payment due dates and make your payments on time.
  • Customer support. For any questions you may have, call Applied Bank customer support at 800-947-1090.

Bottom line

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.

Apply now

Frequently asked questions

Why does it help if my card provider reports my payments to the major credit bureaus?
The credit card provider will report your payment history and related details to the major credit bureaus — Equifax, Experian and TransUnion. Timely payments reflect well on your creditworthiness, ultimately helping you build your credit score.

What is a grace period on interest?
When you make a purchase with a credit card, you usually get a period of time — typically around 20 days — during which you’ll accrue no interest. Most card providers offer this grace period, but this card is an exception.

How can I build my credit score with this card?
To build your credit score, pay your balances in full as quickly as possible. Also, try to keep your utilization under 30% — that’s $60 for a $200 credit line.

Credit card ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

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Learn the details of our methodology and scoring.

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    Default Gravatar
    September 19, 2019

    Can I pay my annual fee up front to keep my 200 credit limit!

      Default Gravatar
      September 20, 2019

      Hi Terrence,

      Thanks for your message. An annual fee is paid on the first anniversary of your card and it doesn’t in any way affects your $200 credit limit.

      Hope this helps!


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