Accepted Credit Score
Bad Credit
Applied Bank® Unsecured Classic Visa® Card
Editor’s Take
John Kiernan, Credit Card Editor
April 6, 2021
Review: Applied Bank® Unsecured Classic Visa® 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 review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
April 6, 2021
Applied Bank® Unsecured Classic Visa® 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 Classic Visa® 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 Classic Visa® 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 4/6/2021
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 81
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.
8
Upvotes
How can I qualify for Applied Bank Unsecured Classic pre-approval? Reply 61
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
What's the starting credit limit for the Applied Bank Unsecured Classic Visa card? Reply 52
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 43
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
How can I get an Applied Bank Unsecured Classic card cash advance? Reply 41
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.
4
Upvotes
Where can I check my Applied Bank Unsecured Classic card's balance? Reply 31
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 long does it take to get the Applied Bank Unsecured Classic card? Reply 3
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
How do I get an Applied Bank Unsecured Classic credit limit increase? Reply 2
Sydney Garth
@sydneygarth
You cannot get an Applied Bank Unsecured Credit Card credit limit increase. Currently, the issuer doesn’t offer this option. Despite this fact, you should always pay your bills on time and in full. This way, if credit limit increases become available again, you’ll have better odds of being granted one.
2
Upvotes
How much is the Applied Bank Unsecured Classic cash advance limit? Reply 21
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.
2
Upvotes
Applied Bank® Unsecured Classic Visa® Card Reviews
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Last updated on: Apr 6th, 2021 at 16:07 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 Classic Visa® 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: Apr 6th, 2021 at 16:07 ET