Read on to learn about a card that can give you a chance to build credit with a low APR!
Applied Bank® Gold Preferred® Secured Visa®, the card that helps you rebuild your credit!
Do you have a low credit score and have struggled to find a credit card that will approve you? If so, then the Applied Bank® Gold Preferred® Secured Visa® Card may be the perfect solution for you. This card is designed specifically for people working to repair their credit rating!
Meet some of the benefits of the Applied Bank® Gold Preferred® Secured Visa® card!
Meet the Applied Bank® Gold Preferred® Secured Visa® Credit Card, a distinct financial instrument designed to provide those with credit-building aspirations a platform to start or rebuild their credit journey.
By combining secured features with exclusive perks, this card positions itself as a handy tool for individuals taking proactive steps towards a brighter financial future.
Strengths and Special Offerings
- Accessible to Many: Even those with a limited or tarnished credit history can get approved, making it a viable credit-building tool.
- Fixed APR: The card boasts a competitive fixed APR for purchases, offering predictability in interest charges.
- Reports to Major Bureaus: Regular reporting to major credit bureaus ensures that timely payments contribute to building a positive credit profile.
- Low Annual Fee: Compared to several secured cards in the market, the Gold Preferred card offers a reasonable annual fee.
- Quick Application Process: The streamlined online application process ensures prompt feedback, allowing applicants to know their status swiftly.
Limitations to Consider
- Secured Card: A security deposit is required to obtain and use the card, which might not be suitable for everyone.
- No Reward System: Unlike some other cards, there isn’t a points or cash-back rewards system in place.
- Foreign Transaction Fees: Those traveling or making purchases internationally might face additional foreign transaction fees.
- No Graduation to Unsecured: Some secured cards offer a transition to an unsecured card after a period of good payment history; this card doesn’t provide that pathway.
- Additional Fees: There may be additional fees like a monthly maintenance fee or higher fees for cash advances.
The Applied Bank® Gold Preferred® Secured Visa® Credit Card shines brightly for those on the path of credit recovery or initiation.
While its strengths lie in accessibility and reporting, potential users should weigh the fees and lack of reward features to ascertain if it aligns with their financial aspirations.
As with any financial tool, understanding its intricacies is pivotal to harnessing its maximum potential.
With the Applied Bank® Gold Preferred® Secured Visa® Card, you’ll be able to get the common benefits related to features for credit-building. Also, many credit-building cards have high APRs. However, this card has a very low fixed APR of 9.99%!
Yes! You can be sure that the Applied Bank® Gold Preferred® Secured Visa® Card is a safe option for you to save money and build your credit score while using your credit card and paying a low fixed APR rate!
Information from the Applied Bank® Gold Preferred® Secured Visa® Card is reported to all three major credit bureaus: Equifax, Experian, and TransUnion. On the last day of every month (the close statement date), Applied Bank sends a copy of its customers’ account information to the major credit bureaus. So, you can be sure that proof of timely payments and a low credit use rate are two factors that contribute to a higher credit score.
If you don’t think the Applied Bank® Gold Preferred® Secured Visa® Card is the best option for you, you can try the OpenSky Secured Visa Card!
This credit card accepts all types of scores, and you can build your credit with it! Therefore, read our post below to learn more about this card and how to apply!
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