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Applied Bank® VISA® Business review

Kevin Joey Chen
Kevin Joey Chen
Last updated:  

Please note: This card has been discontinued, and it is not available on our site.

The perks

  • You’re eligible if you have bad credit.Most business cards require at least good credit. However, you can apply for the Applied Bank® VISA® Business even with a less-than-stellar credit score.

You’ll also like …

  • Payment history reporting to major credit bureaus. If you need help building or rebuilding your credit, the Applied Bank® VISA® Business could ultimately help increase your overall creditworthiness.

What to watch out for

  • No balance transfers. You can’t move debt to your Applied Bank® VISA® Business.
  • No grace period on interest. You’ll accrue interest as soon as you make a purchase. This is a significant weakness, as most credit cards offer grace periods.
  • Penalty APR for late payments. If you make a late payment, you’re subject to an APR as high as 29.99%.
  • Account origination fee. You’ll pay a one-time $125 to open your account.
  • Monthly maintenance fee. At $9.95 a month, you’re looking at $119.40 annual maintenance.
  • Payment fees. Mailed payments are free, but online payments costs $6.95 each, credit or debit card payments cost a steep $10.95 each and ACH payments costs $6.95 each.
  • Other random fees. Watch out for fees for account dormancy ($10 monthly), expedited payments ($2 per transaction), stopped payments ($2 per transaction) and more.

What should I know before I apply?

To apply for the Applied Bank® VISA® Business, you must be at least 18 years old.

Information you’ll need

  • Your business name and details
  • Your full name and contact information
  • Your residential status and address
  • Your annual income and source of income
  • Your Social Security number and date of birth

What credit score do I need?

You’re welcome to apply for the Applied Bank® VISA® Business with any credit score — even if you have bad credit.

How to apply for the Applied Bank® VISA® Business

To apply for the Applied Bank® VISA® Business, go to Applied Bank’s site. Complete the form with information like your business name, annual income and Social Security number and submit your application.

Applied Bank Visa Business

How long will it take to be approved?

You’ll know whether you’re approved about 60 seconds after you apply.

I got the card. Now what?

  • Make timely payments. Consider paying your card bill well before your statement due date to avoid a steep penalty APR and high late fees. Factor in a potential wait before your payment posts.
  • Avoid interest. The Applied Bank® VISA® Business doesn’t come with a grace period on interest. To avoid racking up unnecessary interest, consider paying off your purchases as soon as you make them.
  • Avoid fees. Late and returned payments come with hefty $38 fees. Cash advances also come with fees. Read your cardholder agreement to understand the various other fees you may encounter.
  • Customer service. If you have questions, contact Applied Bank’s Customer Service Department at 1-800-947-1090.

Compare other business credit cards

Data indicated here is updated regularly
Name Product Rewards Purchase APR Annual fee
Ink Business Preferred® Credit Card
Ink Business Preferred® Credit Card
3x points on the first $150,000 on travel and select business categories annually, then 1x after and on all other purchases
15.99% to 20.99% variable
$95
100,000 bonus points after you spend $15,000 on purchases in the first 3 months after account opening. That's $1,250 toward travel rewards when you redeem through Chase Ultimate Rewards®
Apply now
View details
Ink Business Cash℠ Credit Card
Ink Business Cash℠ Credit Card
5% at office supply stores, on Internet, cable and phone up to $25,000 combined annually (then 1%), 2% on gas and dining up to $25,000 combined annually then 1% after that and on all other purchases
0% intro for the first 12 months (then 13.24% to 19.24% variable)
$0
$500 bonus cash back after you spend $3,000 in the first 3 months.
Apply now
View details
Ink Business Unlimited℠ Credit Card
Ink Business Unlimited℠ Credit Card
1.5% cash back on all purchases
0% intro for the first 12 months (then 13.24% to 19.24% variable)
$0
$500 bonus cash back after you spend $3,000 on purchases in the first 3 months after account opening.
Apply now
View details
United℠ Business Card
United℠ Business Card
2x miles on United, transit and rideshares, and at gas stations, office supply stores and restaurants, and 1x miles on all other purchases
16.49% to 23.49% variable
$0 intro annual fee for the first year ($99 thereafter)
Earn 60,000 miles once after spending $3,000 in your first 3 months.
Apply now
View details
Universal Premium Mastercard®
Universal Premium Mastercard®
3 cents off per gallon when you buy 30,000 or more gallons in a month plus 3 cents off at the Retail Savings Network
27.24% variable
Up to $120
Earn 3 cents off per gallon when you buy 30,000 or more gallons in a month plus 3 cents off at the Retail Savings Network.
Apply now
View details
Southwest Rapid Rewards® Performance Business Credit Card
Southwest Rapid Rewards® Performance Business Credit Card
3x points on Southwest Airlines, 2x points on social media and search engine advertising, Internet, cable, and phone services and 1x points on all other purchases
15.99% to 22.99% variable
$199
Earn 70,000 points when you spend $5,000 on purchases in the first 3 months. Plus, earn an additional 30,000 points after you spend $25,000 on purchases in the first 6 months.
Apply now
View details
Brex for Startups
Brex for Startups
7x points on rideshares, 4x on Brex Travel, 3x at restaurants, 2x on software subscriptions and 1x points on all other purchases
N/A
$0
The first corporate card for startups. No personal liability or security deposit needed, meaning your personal credit score won't be affected.
Apply now
View details
Southwest Rapid Rewards® Premier Business Credit Card
Southwest Rapid Rewards® Premier Business Credit Card
2x points on Southwest Airlines and 1x points on all other purchases
15.99% to 22.99% variable
$99
Earn 60,000 points after spending $3,000 in the first 3 months and 6,000 points after your card anniversary.
Apply now
View details
Brex for Ecommerce
Brex for Ecommerce
N/A
N/A
$0
60-day interest-free financing for e-commerce businesses.
Apply now
View details
BP Business Solutions Mastercard®
BP Business Solutions Mastercard®
Up to 6 cents per gallon on fuel and 3.5 cents per gallon on diesel depending on number of gallons purchased per month
27.24% variable
Up to $120
Up to 6 cents per gallon on fuel and 3.5 cents per gallon on diesel depending on number of gallons purchased per month.
Apply now
View details
ARCO Business Solutions Fuel Card
ARCO Business Solutions Fuel Card
18.24% to 27.24% variable
Up to $180
The ARCO Business Solutions Fuel Card gives your drivers access to greater performance with high quality fuels at ARCO locations. The card provides fleet managers with detailed reporting and individual spending controls for each and every driver.
Apply now
View details
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Bottom line

The Applied Bank® VISA® Business brings few notable features. It’s open to consumers with poor credit, but it’s incredibly expensive. It also doesn’t offer significant perks or rewards for business expenses.

If you’re looking for a card to build or rebuild your creditworthiness, you can find stronger secured cards offering low APR, minimal fees and budget-friendly deposits.

Frequently asked questions

Expert review

Kevin Joey Chen

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.

Expert review

For a business card, the Applied Bank® VISA® Business is a tough sell. It doesn’t offer any business rewards. Rather, its biggest benefit is that it’s open to consumers with bad credit.

Unfortunately, glaring downsides include a one-time $125 fee for merely opening an account. You’ll also pay a monthly maintenance fee of $9.95, which comes out to $119.40 a year. Add in fees for online bill payments and other nickel-and-dime charges, and the Applied Bank® VISA® Business could cost more than you anticipate.

Finally, the card lacks an interest grace period, meaning you’ll start accruing interest as soon as you make any purchase. This is a significant weakness, as most cards offer grace periods of 21 and 25 days.

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4 Comments

  1. Default Gravatar
    Tonia
    July 21, 2018

    How much do they approve for business credit card

    Reply
    • Default Gravatar
      joelmarcelo
      July 21, 2018

      HI Tonia,

      Thanks for leaving a question on finder.

      The initial credit limit is $500. An average is hard to determine but a secured card doesn’t have to cost much if you pick the best for your needs. Learn more about secured cards with low or no deposits by clicking HERE.

      Cheers,
      Joel

      Reply
  2. Default Gravatar
    Kendra
    July 12, 2018

    How long will it take to receive my card if I got an email 2 days ago that is was being mailed to me? Is there an option of fast delivery?

    Reply
    • Default Gravatar
      joelmarcelo
      July 13, 2018

      Hi Kendra,

      Thanks for leaving a question on finder.

      If approved, it will take approximately 10 days from the day you applied to received your credit card in the mail. If it took longer than usual, you will have to contact their customer service on what could be causing the delay.

      Cheers,
      Joel

      Reply
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