Applied Bank Secured Visa Gold – How to apply

This credit card offers convenience, security and financial versatility for all your users.

Applied Bank’s Gold Visa card Secured has emerged as a promising solution for those seeking access to credit, even in the face of a challenging financial history. 

With the growing need to rebuild credit scores, this card stands out for offering a fixed interest rate and the ease of not requiring a credit check. 

In addition to its affordability, the card also guarantees regular reports to the three main credit agencies, which is essential for anyone wishing to improve their score. 

How does the Visa Gold Secured Applied work?

Even with a bad credit history or no credit, this card offers the opportunity to obtain a line of credit, making it a valuable tool for anyone wishing to improve their credit score. 

The annual interest rate is fixed, and one of the main features is the absence of a credit check and the requirement for a minimum score. 

After approval, users must make a security deposit, which will serve as a guarantee for the issuer, allowing them to have a credit limit equivalent to the amount deposited.

It’s worth considering that the card offers regular reporting to all three major credit bureaus, and making payments on time can result in a significant improvement in credit score over time.

Main Benefits of Card Visa Gold Secured

One of the biggest benefits of the Visa Gold Secured card is the ease of access to credit. 

One of the main points that catches the eye at first is the absence of a strict credit check during the approval process. 

This means that when you apply for the card, you don’t have to worry about a credit check that could impact your score. 

Instead, the card generates a soft check, preserving your score while allowing you to access credit.

In addition, the card is designed to help users build a solid credit history. 

It regularly reports your payment activity to the three main credit agencies: Equifax, Experian and TransUnion. 

With the possibility of seeing their progress reflected in their credit reports, cardholders have the opportunity to show creditors that they are managing their finances responsibly.

Another relevant benefit is the simplicity of the application process. Interested parties can apply easily, providing only basic information such as name, address and contact details. 

Another plus point is the fixed interest rate of 9.99%. This rate is considerably low compared to many credit cards available to people with limited credit, which often have higher APRs. 

This card also offers a practical way to monitor and manage your finances. 

Cons of Visa Gold Secured

Their main disadvantage is the $48 annual fee. 

Although this fee is common among secured credit cards, it can represent a significant cost for some users, especially those who are trying to rebuild their credit and may be facing financial difficulties.

Another point to consider is the absence of a grace period. 

This means that interest begins to be applied immediately after transactions are made, which can result in additional charges if the balance is not paid in full. 

Finally, the lack of rewards is a limitation for those looking for additional benefits from their spending. 

The card does not offer cash back, points or miles programs, which can be a disincentive for some consumers who prefer cards that offer advantages with every purchase.

APR e Fees

The card has a fixed APR of 9.99%, which is considered an affordable rate for a secured credit card. 

This fixed rate helps users plan their finances, as there are no unexpected variations in interest. 

However, it is essential that users pay off their balances in full each month to avoid the accumulation of interest, which can negatively impact their credit recovery.

In addition to the APR, the card also has a $48 annual fee, which should be considered when evaluating whether the card is the right choice. 

The fees also include charges for cash advances, which can be significant, as well as possible late payment fees. 

It is therefore essential that cardholders keep a tight rein on their finances to avoid additional costs.

How to Apply for the Card Visa Gold Secured

To apply for the Visa Gold Secured card, the process is simple and can be done online. 

The interested party must access the Applied Bank website and fill in an application form with personal and financial information. 

As no credit check is required, the process tends to be quick and uncomplicated.

After submitting the form, the bank will analyze the application and, if approved, the user will receive instructions on how to make the security deposit. 

This deposit is a crucial step, as it guarantees the card’s credit limit and protects the issuer against possible defaults.

Once the deposit has been made, the card is sent to the user’s address.