Applied Bank

Applied Bank has a long history of providing secured credit card offering to consumers seeking to establish or improve their credit profiles.

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Credit Zenga Self Lender Review – Written By Dion R

For a $48 annual fee, the bank’s Secured Visa® Gold Preferred® Card comes with a very low 9.99% APR on purchases and cash advances.

The card’s credit limits range between $200 and $1,000, depending on the amount of the initial refundable security deposit, and can increase to $5,000 after account approval.

Whether you’re just starting your credit building journey or are repaving the path after a few bumps in the road, the Secured Visa® Gold Preferred® Card makes it easier and faster to get to where you want to be.

Applied Bank reports all payment activity to the three major credit reporting bureaus — Equifax, TransUnion, and Experian.

Responsible usage is reflected on your credit report as positive payment history when you continue to make all of your payments on time.

This can begin to negate past transgressions and give your credit score a push in the right direction.

Since a security deposit establishes the card’s credit limit, Applied Bank can make approval decisions without using an applicant’s credit history.

Furthermore, applicants need not open an Applied Bank checking or savings account, as the bank can directly deduct monthly payments from any financial institution.

The application takes less than five minutes to complete, and asks applicants to provide personal data and funding information for the secured deposit.

Once approved and funded, Applied Bank ships the card to the consumer, and it’s ready to use as soon as it arrives.

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