Accepted Credit Score
Bad Credit
Applied Bank® Unsecured Classic Visa® Card
Editor’s Take
John Kiernan, Credit Card Editor
May 28, 2021
Review: Applied Bank Unsecured Credit Card
The Applied Bank® Unsecured Classic Visa® Card is a costly unsecured credit card for people with bad credit. Although the Applied Bank Unsecured Visa does not require users to place a refundable security deposit, it does charge several non-refundable fees, starting with a one-time fee of $89 before account opening and a first-year membership fee of $75. From the second year onward, the annual fee is just $45, but it’s joined by a monthly fee of $6.25.
The best thing about the Applied Bank Unsecured Visa is that it reports account information to the three major credit bureaus on a monthly basis. Coupling that with on-time payments and low credit utilization is the recipe for credit improvement. There are far cheaper ways to build credit, though.
The Applied Bank Unsecured Card also makes it possible to finance emergency purchases that you cannot afford in cash. However, the card does not provide a very big credit line, and any balance that you carry from month to month accrues interest at a high rate: 29.99%.
With that, you should be ready to make an informed decision about applying for the Applied Bank Unsecured Credit Card. But in case you’re still not sure, we’ll summarize the main factors to consider below.
Applied Bank Unsecured Visa Review Highlights
The best thing about the Applied Bank Unsecured Visa is that it reports account information to the three major credit bureaus on a monthly basis. Coupling that with on-time payments and low credit utilization is the recipe for credit improvement. There are far cheaper ways to build credit, though.
The Applied Bank Unsecured Card also makes it possible to finance emergency purchases that you cannot afford in cash. However, the card does not provide a very big credit line, and any balance that you carry from month to month accrues interest at a high rate: 29.99%.
With that, you should be ready to make an informed decision about applying for the Applied Bank Unsecured Credit Card. But in case you’re still not sure, we’ll summarize the main factors to consider below.
Applied Bank Unsecured Visa Review Highlights
- Initial Fee: $89
- Annual Fees: $75 the first year and $45 per year after that
- Monthly Fees: $0 1st year, $6.25 after
- Credit Limit: $300
- Interest Rate: 29.99%
- Grace Period: 0 days
- Rewards: None
- Requirements: 18+ years old with an SSN or ITIN
This Applied Bank Unsecured Credit Card review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
May 28, 2021
Applied Bank Unsecured Credit Card's Key APRs & Fees
| ONE-TIME FEES
|
|---|
| $89 |
| ANNUAL FEE
|
| $75 1st yr, $45 after |
| MONTHLY FEE
|
| $0 1st year, $6.25 after |
| REGULAR RATE
|
|---|
| 29.99% |
| GRACE PERIOD
|
| 0 days |
Applied Bank Unsecured Credit Card's Highlights
| Fast and Easy Application and Approval Process! Click “Apply Now” to apply online |
| Reports to All Three Major Credit Bureaus |
| Access Additional Credit with On-Time Payments and Responsible Usage |
| Fixed APR and Manageable Monthly Payments |
| A true Unsecured EMV enabled (chip) Visa Credit card that does not require perfect credit for approval. |
Applied Bank Unsecured Credit Card's Additional Info
| MAX LATE FEE
|
$38 |
|---|---|
| MAX OVERLIMIT FEE
|
None |
| MAX PENALTY APR
|
None |
| FOREIGN TRANSACTION FEE
|
3% |
| SMART CHIP
|
Yes, unknown |
-
CASH ADVANCE APR
29.99%
-
CASH ADVANCE FEE
5% (min $10)
- Last updated on 5/28/2021
at Applied Bank's secure site
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Customer Questions and Answers
Don't see what you're looking for? Submit your question about Applied Bank® Unsecured Classic Visa® Card to our community. Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this card.
What credit score is needed for the Applied Bank Unsecured Classic card? Reply 9votes1votes
Michael Battle
@mikebattle
The Applied Bank Unsecured Classic credit score requirements fairly easy to meet, even with bad credit. The card merely requires a bank account and some income to balance out any debt.
The requirements are so lenient because the Applied Bank Unsecured Classic is a costly unsecured credit card for people with bad credit. While it does not require users to place a refundable security deposit, it does charge several non-refundable fees, starting with a one-time fee of $89 before account opening and a first-year membership fee of $75.
The good thing is that it reports to the credit bureaus on a monthly basis, so you will be able to get a better credit card once your credit improves.
9
Upvotes
How can I qualify for Applied Bank Unsecured Classic pre-approval? Reply 6votes2votes
Constance Brewer
@c_brewer
You cannot qualify for pre-approval with the Applied Bank Unsecured Classic card, since it doesn't offer one.
It does, however, offer instant approval even with bad (300+) credit if your identity, address and income can be easily verified.
You can apply here. But keep in mind, that an application might result in a hard inquiry on your credit report, lowering your credit score for a short period of time.
6
Upvotes
How can I get an Applied Bank Unsecured Classic card cash advance? Reply 5votes1votes
Leon Knight
@leon_knight
You can get an Applied Bank Unsecured Classic card cash advance at any ATM with the Visa logo, or in any bank branch.
Keep in mind that cash advances are very expensive. They have a high APR and charge a cash advance fee.
Since any short term benefit they might have is outweighed by their cost, cash advances should be avoided as much as possible.
5
Upvotes
What's the starting credit limit for the Applied Bank Unsecured Classic Visa card? Reply 5votes2votes
Jason Baker
@jason_baker
The starting credit limit for the Applied Bank Unsecured Classic Visa card is $300.
This doesn't mean you will have the total amount available, once you are approved for this card. The annual fee of $75 1st yr, $45 after will be charged when you open your account.
The Applied Bank Unsecured Classic Visa also has a one-time fee of $89 before account opening, monthly fees starting the second year, a 29.99% interest rate and no grace period.
On the bright side, it reports account information to the three major credit bureaus on a monthly basis. So with responsible use, you'll have the chance to improve your credit score.
5
Upvotes
Does the Applied Bank Unsecured Classic card do a hard pull? Reply 4votes3votes
Ronald Snodgrass
@ron.snodgrass11
Yes, the Applied Bank Unsecured Classic card does a hard pull on your credit when you apply for it. This could hurt your credit score, but only for a short period of time.
Unfortunately there’s no way to see if you pre-qualify, but you could get approved even with bad credit.
4
Upvotes
Can you get approved for the Applied Bank Unsecured Classic card after bankruptcy? Reply 3votesvotes
Maria Adams
@m_adams
Yes, you might get approved for the Applied Bank Unsecured Credit Card after bankruptcy, but it’s not guaranteed and it isn’t the best idea to try. This is an expensive unsecured card that won’t make your credit re-building journey any easier.
There are many bankruptcy-friendly credit cards you can apply for instead, with lower fees and better approval odds.
3
Upvotes
Where can I check my Applied Bank Unsecured Classic card's balance? Reply 3votes1votes
Sydney Garth
@sydneygarth
You can check your Applied Bank Unsecured Credit Card’s balance by signing in to your account online. From here, you can also pay your bill, view your statements, request a PIN, or dispute a charge.
If you’d rather check your balance over the phone, dial (800) 947-1090.
3
Upvotes
How much is the Applied Bank Unsecured Classic cash advance limit? Reply 3votes1votes
Joel Freeman
@joel_freeman
The Applied Bank Unsecured Classic doesn’t have a cash advance limit. It does, however, forbid cash advances in the first 95 days of account opening.
Even after that, I strongly advise you to avoid cash advances. Their high APR and associated fees outweigh any quick benefit they can offer. Even if you find yourself in the situation where you must do a cash advance, make sure to pay it back as quickly as possible.
3
Upvotes
How long does it take to get the Applied Bank Unsecured Classic card? Reply 3votesvotes
Erick Stanley
@erick_stanley
It takes about 14-24 business days to get the Applied Bank Unsecured classic card in the mail from the time you submit an application.
In case you are instantly approved, you could receive your card in 7-10 business days.
3
Upvotes
Applied Bank Unsecured Credit Card Video Review
Applied Bank Unsecured Credit Card Reviews
Share your insights and review the Applied Bank® Unsecured Classic Visa® Card.
Jul 28, 2021
I had 3 business accounts with Applied for 3 years and my account was in 202 Branch in Wilmington DE. I always found this bank lacking on basic services like online banking and mobile application, finally they had one which was terrible. Anyways worst part of all is one day I was at the wilmington branch for deposit and out of no were store manager gave a letter stating that they will no longer continue my account and all my accounts will be closed in 2 weeks, this was a shock to me and she didnt ever bother giving me reason WHY... it was such a mess I had to open accounts with WSFS within 2 week time frame and open merchant services and ATM THANKFULLY staff at WSFS was so friendly and helpful and aware of the situation they were able to open my accounts on time and gave my 500 free checks for each account. I am kind of thankful after all this happened and now i am dealing with much advanced and customer focused bank with amazing technology and service.… show more
Comment
Jun 26, 2021
Verified Customer
Applied Bank didn't hesitate to approve my card. Even when other companies declined me, applied bank didn't. Thank you Applied Bank!
Jun 19, 2021
I have cancelled this card over 3 months ago and they continue to assess fees - there is noone competent in customer service to help. I am in the process of initiating a lawsuit due to this - I have spoken with an attorney who is looking into a class action suit due to this illegal business practice
Jun 05, 2021
Verified Customer
Great card for people looking to improve their credit and get back on track with their credit and using it to have a better life with credit
Aug 25, 2020
Verified Customer
The worst credit card ever! You pay more than $300 in fees to get $300 credit. They charge you a fee for everything. Customer service phone agents on some budget phone system that makes the call unintelligable. Bush league.
10/25/20
The review states all the fees. It also has no grace period so even if you pay your bill off every month they are charging 30% interest the day you make a charge. It's insane. Why people don't go with a secured card instead is beyond me. If you cannot afford to pay 300 bucks to get a secured card then you probably are a really poor credit risk and that's why these fee-laden, high interest cards exist.… show more
10/15/20
I beg to differ with you on saying it's the worst credit card ever. That's a big pile of hot steaming BS with Horse Fly's all over it and then eating it. I paid a $48.00 fee to apply and obtain the Applied Bank Visa Card and no other fees. Once approved I received my card in the U.S. mail 7 days later. I have had the card for quite a while and they did not charge me any additional fees. They gave me a initial credit limit of $300.00. I have made all of my monthly payments on time and after 6 months they increased my credit line automatically. I had to make a call to their customer service because I had some questions. There is nothing wrong with the phone system they have. The customer service agent I spoke with was professional, courteous and answered all of my questions and thanked me for my valued business. They report to all 3 national credit bureaus, Experian, Equifax and Trans Union and helped me increase my credit scores. Since you are so unhappy and you think it's the worst credit card ever, then cut the card in half and throw it in the garbage. With your lousy attitude, I highly doubt they want any of your business...!… show more
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Last updated on: May 28th, 2021 at 06:57 ET
Related Credit Cards
If you are interested in the Applied Bank® Unsecured Classic Visa® Card, check out the following credit cards as well:
Related Credit Card Categories
Applied Bank Unsecured Credit Card is related to the following categories:
WalletHub is an independent comparison service.
We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. When you click "Apply Now" you will be directed to the offering institution's website. In addition, keep in mind that actual rates and other information may vary for a number of reasons including the applicant's' creditworthiness and differences between an individual's situation and the criteria/assumptions used to generate the information displayed. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.
Ad Disclosure: Offers originating from paying advertisers are noted as “Sponsored” at the top of this page. Advertising may impact how and where offers appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Irrespective of whether an offering institution is a paid advertiser, the presence of offer information on WalletHub does not constitute a referral or endorsement of the institution by us or vice versa. Furthermore, offers have not been reviewed or approved by the offering institution. Information is displayed first and foremost to help consumers make better decisions.
Editorial Disclaimer: Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by the issuer. In addition, it is not the issuer’s responsibility to ensure all posts and/or questions are answered.
Offer last updated: May 28th, 2021 at 06:57 ET