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The Applied Bank™ Secured Visa® Credit Card, issued by Applied Bank™, is designed for those with limited or poor credit history.

The major benefit of this card is the fixed APR of 9.99% for purchases and cash advances, which is reasonably low for a secured card. There is a $200 minimum deposit required, a $5,000 maximum, and an annual fee of $50.

Unlike most secured credit cards, this card provides additional services and benefits including online account access and various fraud protection services.

It is important to note that a major drawback of the card is that there is no grace period for purchases. This means that interest will be applied immediately to any charges made with the card. A downside is that this card does not pay interest to the deposit amount, which sets it apart from other secured cards that do.

Those who can afford the $200 minimum deposit and do not mind accumulating finance charges once a transaction is posted, will benefit most from the very low rate that the Applied Bank™ Secured Visa® Credit Card has to offer.

Type of card: Personal

Introductory apr rate description: No Introductory Rate Available

Purchases apr rate: $9.99

Cash apr rate: $9.99

Fee: $50.00

Best: No application fee; very low annual fee.

Worst: Issuer does not pay interest on the amount deposited.

Perks: See website for additional benefits.

Notations: Credit bureau reporting. See website for complete terms and conditions of card usage and application disclosure.

Additional description:

• 9.99% Low Fixed APR - Rate Won?t Change Even If You?re Late!
• CHOOSE Your Credit Limit Up To $5,000*
• $0 Fraud Liability
• NO Credit Requirements
• NO Income Requirements
• ACCEPTED Worldwide at Millions of Locations
• CREDIT Bureau Reporting
• *Minimum $200 Deposit Required. Your Credit Limit Will Be Equal to the Amount of Your Deposit.