See how to apply for Applied Bank Gold Preferred


Applied Bank Gold Preferred: Best for: Fixed Rate — Stability in Interest Rates

Applied Bank Gold Preferred

Lustezz rating
5 /5
Rates & Fees
Apply Now on Applied Bank Gold Preferred website
  • Annual Fee


  • APR

    9.99% (Fixed)

  • Issuer Name

    Applied Bank

  • Recommended Credit Score

    Bad, None

Product Details

If you need to build or rebuild your credit, consider the Applied Bank Secured Visa® Gold Preferred® Card. You must deposit $200 to $1,000 to activate the card. The amount you deposit minus the $48 annual fee is your initial credit limit for the card. The Applied Bank Secured Visa® Gold Preferred® Card has a 9.99% (fixed) annual percentage rate.

Our take

Fixed APR: The Applied Bank Secured Visa® Gold Preferred® Card charges an interest rate of 9.99% (fixed), so you don’t have to worry about APR increases.

Increase your credit limit with additional deposits: Applied Bank Secured Visa® Gold Preferred® Card account holders can increase their credit limit by making additional deposits of up to a total of $5,000.

Are you ready to take the reins of your financial journey and set sail towards a brighter, more secure future? The Applied Bank Gold Preferred Credit Card could be your trusty vessel on this voyage.

With its numerous advantages, this credit card is designed to help individuals build or rebuild their credit, providing a path towards financial freedom.

But before we dive deeper into why this card is such a valuable tool, let’s first understand the requirements and documents needed to set your course towards obtaining it.

What Are the Necessary Requirements for Application?

Before you embark on your journey to secure the Applied Bank Gold Preferred Credit Card, it’s crucial to understand the prerequisites. Here are the key requirements you need to meet:

  1. Age: You must be at least 18 years old to apply for this credit card. It’s a standard age requirement for most credit card applications.
  2. Residence: Typically, you need to be a U.S. resident to apply for this card. This ensures that you have a stable address within the United States.
  3. Income: While there’s no strict minimum income requirement specified, it’s important to have a source of income to demonstrate your ability to manage credit responsibly. Your income plays a role in determining your credit limit.
  4. Credit History: Interestingly, the Applied Bank Gold Preferred Credit Card is known for being inclusive of individuals with limited or damaged credit histories. While a strong credit score isn’t required, having a history of responsible credit usage can improve your chances of approval.

What Documents Are Required for Application?

Now that you know the prerequisites, let’s talk about the documents you’ll need to gather to set your course towards obtaining the Applied Bank Gold Preferred Credit Card:

  1. Personal Identification: You’ll need to provide a valid government-issued ID, such as a driver’s license or passport. This establishes your identity and age.
  2. Proof of Residence: To confirm your U.S. residence, you may need to provide a utility bill or a lease agreement in your name with your current address.
  3. Income Verification: You’ll likely be asked to provide proof of your income, such as recent pay stubs, tax returns, or bank statements. This demonstrates your ability to meet your credit obligations.
  4. Social Security Number: Your SSN is essential for credit checks and verification during the application process.
  5. Employment Information: You may need to provide details about your current employment, including your job title and employer’s contact information.

Who is the Applied Bank Gold Preferred Card For?

If you’re seeking a credit card that can serve as a valuable financial tool, the Applied Bank Gold Preferred Credit Card might be just what you need. Let’s explore who this card is ideal for, and see if you identify with any of the following profiles:

Building Credit from Scratch

Are you new to the world of credit and eager to establish a solid financial foundation? The Applied Bank Gold Preferred Credit Card is an excellent choice for individuals with little to no credit history. It offers an opportunity to start building your credit from scratch, paving the way for future financial endeavors.

Rebuilding Credit After Setbacks

Have you faced financial challenges in the past that have left your credit score less than perfect? This card can be a lifeline for those looking to bounce back. It’s tailored for individuals seeking to rebuild their credit, providing a fresh start and a path towards improved financial stability.

Seeking a Predictable Interest Rate

The Applied Bank Gold Preferred Credit Card offers a fixed interest rate, eliminating the uncertainty of fluctuating rates. If you like knowing exactly what to expect, this card can provide peace of mind.

Budget-Conscious Consumers

Are you mindful of your finances and want a credit card that won’t break the bank with high fees? This card boasts reasonable annual fees and no security deposit requirements, making it budget-friendly for those who are cautious about their expenses.

Credit-Builders on a Journey

Do you see credit as a long-term investment and want a card that will support your credit-building journey? The Applied Bank Gold Preferred Credit Card not only helps you get started but also provides the opportunity for credit limit increases as your creditworthiness improves.

Our Advice for Applying for the Applied Bank Gold Preferred Credit Card

As you contemplate applying for the Applied Bank Gold Preferred Credit Card, it’s essential to have a clear strategy in mind to make the most of this valuable financial tool. Here’s our advice:

  1. Responsible Credit Usage: Once you have the card, use it responsibly. Make timely payments, keep your credit utilization low, and avoid carrying high balances. This will help improve your credit score over time.
  2. Budget Wisely: Use the card as part of your budgeting strategy. Only charge what you can comfortably afford to pay off each month. Creating a budget and sticking to it is key to financial success.
  3. Monitor Your Credit: Regularly monitor your credit reports to ensure accuracy and track your progress. You’re on a credit-building journey, so it’s crucial to stay informed about your credit status.
  4. Set Financial Goals: Define your financial goals and how the card fits into your overall financial plan. Whether it’s buying a car, renting an apartment, or securing a mortgage, having clear goals will keep you motivated.
  5. Avoid Applying for Multiple Cards: While building credit, resist the temptation to apply for multiple credit cards simultaneously. Each credit inquiry can have a temporary impact on your credit score.

Weighing the Pros and Cons – Is It Worth It?

Now that we’ve explored the various aspects of the Applied Bank Gold Preferred Credit Card, it’s time to answer the burning question: Is it worth it? Our resounding answer is yes, and here’s why.

This credit card is a valuable financial tool for several reasons. It’s designed with inclusivity in mind, making it accessible to individuals with limited or damaged credit histories. Whether you’re starting your credit journey or rebuilding after setbacks, this card provides a solid platform.

One of its standout features is the fixed interest rate, offering predictability in your financial planning. No more worrying about unexpected rate hikes – you can budget with confidence.

The annual fees are reasonable, ensuring you won’t break the bank to maintain your account. This card also reports to major credit bureaus, enabling you to showcase your responsible credit usage and improve your credit score over time.

Trending Topics

Latest News