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Applied Bank® Unsecured Classic Visa® Card review

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An expensive unsecured card for building credit.

  • Get this card if you want to build credit and you can’t get a better card.
  • Pick something else if you want a secured card with no annual fee.
  • Apply with a poor credit score of 300 or with no credit history.

$75

Annual fee

for the first year ($45 thereafter)

29.99%

Purchase APR (fixed)

300

Recommended credit score

Details

Product NameApplied Bank® Unsecured Classic Visa® Card
Card typeVisa
Annual fee$75 intro annual fee for the first year ($45 thereafter)
Purchase APR29.99% fixed
Balance transfer APRN/A
Cash advance rate29.99% fixed
Cash advance fee$10 or 5% of the cash advance amount, whichever is greater
Foreign transaction fee3% of the transaction value
Late payment feeUp to $38
Returned payment feeUp to $38
Additional cardholder fee$30

Expert review

Kliment Dukovski

Review by


Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.

Expert review

As the name suggests, the Applied Bank® Unsecured Classic Visa® Card is an unsecured card designed to help you build credit. However, it comes with many fees, which makes this card an expensive credit-building option.

For example, for the first year you’ll pay a one-time $89 processing fee and first year annual fee of $75. From the second year, you pay a $45 annual fee and a $6.25 monthly maintenance fee. Unfortunately, this is common with unsecured cards for building credit.

If you can shell out a $300 right away, a secured card for building credit may be a better option. Plus, you’ll avoid paying all the fees. The $300 is a secured deposit that will act as your credit limit. The cool thing about secured cards is that you get your deposit back if you decide to close your account or the bank upgrades your account to an unsecured one.

How to apply for the Applied Bank® Unsecured Classic Visa® Card

The application process is simple. Here’s how it works:

  1. Click Apply now.
  2. Fill out the application form.
  3. Review the application form and submit.

What credit score do I need?

You can apply for the card with poor credit of 300 or with no credit history.

How much will I pay for the Applied Bank® Unsecured Classic Visa® Card annually?

You’ll pay $164 in your first year and then $120 every year after that. This doesn’t include the additional fees that you may or may not incur.

What to watch out for

  • Annual fee. For the first year, you pay a $75 fee and $45 fee every year after that.
  • Processing fee. You have to pay a one-time $89 fee to open your account.
  • Monthly maintenance fee. You won’t pay a monthly maintenance fee for your first year. But after that, you’ll pay $6.25 every month, which is $75 annually.
  • Other fees. You’ll also pay:
Additional card fee$30
Replacement card fee$30
Copying charges$10 per copy
Fees for optional payments$12.95 for each payment
Stop payment fee$30
Automated account information fee$0.50 for each separate account inquiry made through Applied Bank’s automated account information system
Credit limit increase fee$100 unless you and Applied Bank otherwise agree
Reinstatement fee$50

Applied Bank® Unsecured Classic Visa® Card benefits

  • Build credit. The Applied Bank® Unsecured Classic Visa® Card reports to all three major credit bureaus — TransUnion, Experian and Equifax. With responsible card use, you can quickly build your credit. Note that you can get this benefit with most other unsecured cards that don’t come with as many fees.

Compare low credit score credit cards

Name Product Filter values Minimum deposit required Purchase APR Annual fee Recommended minimum credit score
Destiny Mastercard
N/A
24.9% fixed
$59 to $99
300
An unsecured credit card for building credit with the option to see if you prequalify before applying.
Credit One Bank® Unsecured Visa® with Cash Back Rewards
N/A
17.99% to 23.99% variable
$0 to $99
300
Earn 1% cash back on all purchases or in categories based on Credit One Bank’s discretion.
Applied Bank® Unsecured Classic Visa® Card
N/A
29.99% fixed
$75 intro annual fee for the first year ($45 thereafter)
300
An unsecured credit card for building credit with reporting to the three major credit bureaus.
Surge Mastercard® Credit Card
You may be asked to make a deposit for a secured card
25.9% to 29.99% variable
$75 to $99
580
An unsecured credit-building card with a $0 fee on cash advances for the first 12 months, then 5% or $5. This is a rare offer among similar cards.
Petal 1
N/A
19.99% to 29.49% variable
$0
550
A high-limit no-annual-fee credit card that's ideal for rebuilding scores as low as 550. See if you prequalify with no impact to your credit.
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Bottom line

The Applied Bank® Unsecured Classic Visa® Card is an unsecured card for building credit. But it costs at least $164 for your first year and then $120 every year after. If this sounds too expensive for you, consider a secured card with no annual fee. You still need to make a secured deposit, but you can get it back once you close your account or upgrade to an unsecured card.

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