If you’ve had your issues with credit cards in the past, you’re going to really appreciate the Applied Bank Secured Visa Credit Card.  It’s the perfect option for those who aren’t going to qualify for traditional cards.  If you have a poor credit history (or lack one all together), you can still have the convenience of a credit card thanks to this secured option.

The Applied card is a secured card.  That means the bank isn’t issuing credit and hoping that you’re “good for it”.  Due to your lack of a credit history or the mistakes you’ve made in the past, they just can’t take that risk.  Unlike the other credit card companies who’ll simply tell you “no” and send you on your way, Applied will allow you to make a deposit into an FDIC-protected bank account and will then issue you a real Visa card with a credit limit equal to the size of your deposit.
You can deposit as little as $200 to get an Applied Bank Secured Visa Credit Card and you can go as high as $5,000.  No matter how much you put in, the folks at applied are going to issue you a card.  That’s right, if you can make the deposit, you will be approved.  Period.  Their not worried about your credit history and they won’t even ask for you to prove that you have a job.  The fact that you’re backing up your account with a deposit is good enough for them.

The Applied Bank Secured Visa Credit Card is ideal for those of us who aren’t going to get a traditional card and it stands out from many other secured credit card options, too.  Although there’s no interest grace period on new purchases, the applied card carries a fixed interest rate of only 9.9%.

Think about that for a moment.  That’s a lower rate than what most traditional cardholders pay.  You can have a great credit history and still get hit with a much higher APR than 9.9%.  The fact that you made your security deposit allows Applied to avoid defaults, which means they can give you the best deal possible.

Part of that deal also involves eliminating set up and application fees.  The only expenses you have with an Applied Bank Secured Visa Credit Card are late fees, an annual $50 fee, a 1% transaction fee if you use the card for foreign purchases and a penalty if you accidentally spend over your limit.  That’s it.  In an era of complicated credit cards with high interest rates and confusing terms, the Applied card stands out for its honest simplicity.  There’s nothing sneaky going on with an Applied Visa.

Is the Applied Bank Secured Visa Credit Card the best credit card on the market?   Of course not.  It can’t be.  The best cards are always going to end up in the hands of the best customers–those who have unblemished credit and a perfect record.  For those who need a card to rebuild their credit ratings or to get started, however, it’s hard to beat the offer Applied is making.

If an applied card sounds like what you need to start setting your financial life straight, consider dealing with Applied.  They offer good Visa cards to good people who just don’t happen to have great credit.