Applied Bank Gold Card Review – Approved in 60 Seconds

What Does Applied Bank Gold Visa Secured Card Have to Offer?

Improving your credit score is made easy with the Applied Bank Gold Card and the Secured Visa Credit Card. It will suit all your credit repair needs and has a no-credit-check policy, guaranteeing acceptance. The card has no bonus policies such as miles, cash back, or rewards, but it has features to help fix your credit score. If you don’t have any prior credit history, this card might suit all your needs. It’s a significant jump-start to a healthy financial life. One of the most redeeming features of this card is the fact that there are no over-limit fees or penalty APRs. This is the “gold” in Applied Bank Secured visa gold. It also comes with a low APR rating, which is excellent for any policyholder. However, it’s a tool, not a magic spell. This means you still need to be responsible for your card. It reports all your statements to all three main credit bureaus, meaning it can damage your score as much as it can repair. 

Applied Bank Gold Visa Card – is best for those looking for a guaranteed approval secured card with gold card features and low interest.

Applied Bank Gold Card Details

The Applied Bank Secured Visa Gold Preferred card is issued by Applied Bank, a reputable bank based in Wilmington, Delaware. It has operated since 1996 and has received mostly favorable reviews from policyholders. It’s also renowned for its secured cards, one of which is the topic of this review. The bank FDIC insured, only increasing its reputability. If you’re suffering from a less-than-ideal credit score, that can mean many things. Many different banks consider different things to be less than perfect. Some banks think a credit score of 500 is less than ideal, and that’s still a sky-high number for some. Better banks have a minimum credit score requirement of 380, which is far more reasonable.

This particular card has no credit requirement. You can have no credit history or a meager credit score, and you’re still guaranteed to be approved for this credit card. This is unseen in the industry, making the Applied Bank Secured Gold Visa card available for anyone seeking it. Not only are the approval ratings unparalleled by the competition, but they also come with a bunch of credit building and maintenance features. Sadly, there are no rewards (See cards with rewards) for this card- no bonuses, cashback, or anything related. It’s standard when it comes to a secured credit card. There are some hefty fees, a significant initial deposit, and a surprisingly low APR. But you’re not looking to get all the cashback benefits when the primary purpose behind your credit card is credit repair. If you want to repair your credit, the card will give you all the tools you need to achieve that goal.

The card comes with an initial credit limit of $1,000, much more than most competition offers. The best part about this credit limit is that it’s subject to increase. You can improve your credit limit to $5,000 if you’re responsible with your payments. This increasing potential isn’t the most significant market and requires a hefty fee increase. But again, if you’re looking to repair your credit, this won’t affect you much. An initial credit limit of $1,000 is far more than enough purchasing power for everyone, as this is not a daily card. If you want to improve your credit score, you will find that Applied Bank Secured Visa Gold reports its statements to all 3 major credit bureaus (Explained). If you’re responsible for your debts and respect your dues, this will ensure that your credit score skyrockets. The most exciting thing about this card is the APR. While many credit repair cards come with a high APR, secured credit cards aren’t an exception to this rule, the low APR makes it stand out.

Why We Like the Applied Bank Gold Card

It’s tough not to like this card. It is a secured credit card that is renowned for several things. Regarding a secured credit card, the main point is improving your credit score. You must build a credit score if you don’t have one. The unparalleled acceptance ratings of this card are genuinely one of its most notable features.

No credit requirements. It has no minimum credit score requirement, making it ideal as a first credit card. You will love this card if you can afford the hefty initial deposit. If you’re worried about your initial deposit, you don’t have to fret – after you cancel your subscription to this card, your deposit will be refunded.

Guaranteed approval. This relatively high initial deposit is understandable and directly comparable to the acceptance ratings. The bank needs proof of your financial stability if you’re guaranteed approval. This is why the deposit is as high as it is.

Very low APR. One of the best things about this card? The meager APR rate. It’s pretty hard to set aside the APR percentage for credit repair or secured credit cards. More often than not, it’s a rate more significant than 20%, which can dent anyone’s finances by quite a lot. The APR is a mere 9.99%. If you’re looking for another redeeming feature of this card, you’ll love the employment policy.

There are no employment requirements. You do not have to be employed to get this credit card. That does not mean you shouldn’t pay your dues on time, as the card can damage your score as much as it can repair. You need to pay all your dues on time. If you miss a payment, this card will help you to an extent. Your APR will not increase, but your credit score will decrease. This is counter-productive, as running your credit score further will reduce your financial wellness.

Gold card features. There are a couple of things that we need to clear up about this card. You’re correct in that assessment if you’ve read that Gold cards are better than regular cards. A gold card has no overtime fee, APR penalty, or late fee. That is the case with this card. It’s sporadic for a secured credit card to come with these benefits, and they can prove themselves to be a real lifesaver at moments. If you’re looking to improve your credit score, all while having some additional backing from these features, you’ll love this gold card.

Widely accepted. This card is also based on the Visa platform, meaning it’s accepted in every corner of the globe. Visa takes up over 53% of the global credit card market, beating all the competition combined. If a merchant, retailer, or store accepts credit cards, it will take this card too.

What Can Be Better

Even if this card is an excellent option for anyone looking to rebuild their credit score or start anew, it has some flaws.

Card approval time varies. The first one that comes to mind when you’re thinking about a physical copy of a credit card is the arrival time. Even if the application process is lightning fast and won’t take much time from your day, the arrival time is reported to be unreliable. Some users say it arrives in a matter of days, while others report a waiting time of up to 2 months.

Need request to get a credit increase. If you want to increase your credit limit, you must contact customer service. Contacting customer service is relatively simple and can be done by landline or online. While the facility itself and the operators are more than pleasant, the fee that the bank charges to increase your credit limit is quite hefty.

High fixed fee. When we’re on the topic of fees, some users report issues with the money maintenance fees. Not only are they high, but they also aren’t subject to change. Every single cost regarding this card is completely fixed, which isn’t motivational.

Lack of rewards. Another issue with this card is the complete and absolute lack of rewards, bonuses, or cashback features. You won’t get any airline miles, travel benefits, gifts, awards, or anything. Aside from this one, these are all features that all gold cards have.

Foreign transaction fee. Mind the international transaction fee that is present with most cards like this. The foreign transaction fee is fixed at 3% with this card. See Offers with No FX fees.

Other Benefits and Perks

• Centered on building credit. Regarding an abundance of reward features, this Secured Visa Gold disappoints. This card has no bonus features, cashback, or rewards. It comes with benefits, all centered on improving your credit score.
• No over-limit fee. This card has the gold-standard feature of no over-limit fee. There is also no punishment APR, which is present with all gold cards. Sadly, it does not come with any other gold card features.
• Low interest. However, the benefits of the Applied Bank Secured Visa card are abundant and mainly consist of APR cuts. Whereas other cards benefit primarily from their sky-high APRs, this particular card has a deficient percentage.
• Up to $5,000 credit. The initial credit limit is anywhere from $100 to $1000. You choose the credit limit if you do not exceed the maximum. If you’re looking for more purchasing power and are responsible for your credit, you can request to increase it. The potential to improve your credit limit goes up to $5000, but it does require another hefty fee.

What Are Qualification Requirements?

If you’re looking to get this amazing card, you will need to fulfill a couple of qualifications. These qualifications aren’t very vast and don’t require half as much information as the competitors. While other card companies might require proof of employment, this one doesn’t. You don’t have to be employed to be eligible for this card. And regarding the approval rating, it’s virtually unmatched by any other card. This is guaranteed approval at its finest.

How to Apply for an Applied Bank Gold Visa

With this card, the application process is entirely streamlined. It’s as simple as possible and will take only a few minutes. The whole process is achieved through the website and requires only a few things. To apply, click here. The application process is straightforward and guided. Every step is thoroughly explained and nonintrusive in its design. The gorgeous GUI interface makes navigation a complete breeze. 

What Information Do You Need to Apply?

• Proof of residency
• A valid email address
• Date of birth
• Valid social security number
• An existing bank or checking account
• A legal resident of the USA
• Home address
• Initial deposit

After you’ve applied for the card, you can rest assured that the answer will arrive quickly. You will most likely get approved if you’ve correctly filled out all your personal information. Now comes the waiting game, where you must wait for your physical card to arrive.

Applied Bank Contacts

• Customer Service for Cards: 1-800-947-1090
• Customer Service for Banking: 1-888-839-7952
• Automated Inquiries: 1-800-616-4605
• Application Status: Check the status of your application.
• Account Login: Login to your Account.
• Bank Fax Number: 1-302-456-1013

AppliedBank Address

Applied Bank
2200 Concord Pike
Suite 102 Wilmington
DE-19803

Bottom Line

There are many options if you’re looking to build up your less-than-ideal credit score to a respectable amount. If you can afford a secured credit card, you should get it. If you can get a secured credit card with several gold benefits, you should chase after it. This card combines a secured and sturdy credit repair toolset and some convenient features with gold cards. This is a tool, after all, and not a miracle. You will still need a credit repair strategy to repair your credit score. The absolute lack of any credit check process ensures you will be accepted. You will need to provide all the information and make sure that it’s entirely correct. After submitting it, the waiting only remains.

It’s a modern card, and every form of management is done online. This means a powerful GUI Grid-based interface gives you many management options. This will allow you to use this card from the comfort of your home and manage your finances through your smartphone.

All management aside, you’ll love the APR with this card. While other secured and credit repair cards have a significant APR percentage, the card is known for its low requirements. There aren’t any APR penalties either! Even if this is true, you shouldn’t be late with your payments. This card reports everything to the three largest credit bureaus, which means it can damage your credit score as much as it can improve. If you’re looking for a proper credit rebuilding or beginner card, this will most likely pique your interest. It’s a sturdy, well-rounded card and an integral tool for a solid credit repair strategy.

Competition and Alternatives

Applied Bank Secured Visa Card FAQ