"APPLIED BANK IS AWESOME"
Applied Bank® Secured Visa® Gold Credit Card Review
Written by: baystate on 2008-04-12
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
baystate's review: 
This was one of my first cards when building credit. I've had nothing but a positive experience with them. Regular increases of my credit line, accurate and timely posting of my payments and excellent customer service. I only wish they would consider reviewing long-time accounts and offering better rates for good customers. Several calls made to them for a rate decrease proved unsuccessful. Unfortuantely, cannot ever close this account as it would clearly hurt my credit score because of the age of the account.
This was one of my first cards when building credit. I've had nothing but a positive experience with them. Regular increases of my credit line, accurate and timely posting of my payments and excellent customer service. I only wish they would consider reviewing long-time accounts and offering better rates for good customers. Several calls made to them for a rate decrease proved unsuccessful. Unfortuantely, cannot ever close this account as it would clearly hurt my credit score because of the age of the account.
7 Comments
Comment 1 by hjm331
RE: 
on 2008-04-12
You can never lower the interest rate of a subprime card. They will take advantage of the people who use their card to build their credit.
on 2008-04-12 You can never lower the interest rate of a subprime card. They will take advantage of the people who use their card to build their credit.
Comment 2 by arod
GOOD FOR CREDIT REPAIR ... on 2008-04-12
Good For credit repair
How ever loaded in fee's
And yes they will help you established a good credit file.
So its worth it.
Good Luck to you.
Alex
on 2008-04-12 Good For credit repairHow ever loaded in fee's
And yes they will help you established a good credit file.
So its worth it.
Good Luck to you.
Alex
Comment 3 by eric
Had This Card And Gave It Back..lol on 2008-04-15
Got an offer for this card in May 2007... I was a HUGE credit addict at the time so I took the offer... Pre approved for $1k... Got the card, of course with the $72 annual fee I started with my card with $930... At the time it was my 1st card with a $1k limit, used it a lot and paid in full... Kind of ran my card up in Sept/Oct when I was transitioning into my new job at BofA from GE Money... With management training and meetings I used the card for gas and lunch... Now I work about 55 miles from home at BofA and with gas skyrocketing Id have to fill up at the pump quite a bit, well in a short story I ran it up to its limit, as I started to catch up on everything... I started to think about how much in actual fees I would be paying over a year... As soon as I was approved for my NFL Visa card in December I immediately BT'd this card and closed it. They give a lot of CL increases, when I closed the acct in Jan, my CL was up to $1750... It is a subprime card with a 20% interest rate and a monthly fee... Mark my words guys I will never again have a card that I have to pay a monthly maintenence fee on it... A small AF-ok FOR NOW lol
on 2008-04-15 Got an offer for this card in May 2007... I was a HUGE credit addict at the time so I took the offer... Pre approved for $1k... Got the card, of course with the $72 annual fee I started with my card with $930... At the time it was my 1st card with a $1k limit, used it a lot and paid in full... Kind of ran my card up in Sept/Oct when I was transitioning into my new job at BofA from GE Money... With management training and meetings I used the card for gas and lunch... Now I work about 55 miles from home at BofA and with gas skyrocketing Id have to fill up at the pump quite a bit, well in a short story I ran it up to its limit, as I started to catch up on everything... I started to think about how much in actual fees I would be paying over a year... As soon as I was approved for my NFL Visa card in December I immediately BT'd this card and closed it. They give a lot of CL increases, when I closed the acct in Jan, my CL was up to $1750... It is a subprime card with a 20% interest rate and a monthly fee... Mark my words guys I will never again have a card that I have to pay a monthly maintenence fee on it... A small AF-ok FOR NOW lol
Comment 4 by hjm331
The Real Deal on 2008-04-15
I would dump that card also if I got a new BofA card. I will be dumping a lot of cards as soon as I get some more BofA cards.
I will dump my Orchard Bank and my BB RZ Mastercard if I still have the small $1k limit.
on 2008-04-15 I would dump that card also if I got a new BofA card. I will be dumping a lot of cards as soon as I get some more BofA cards.I will dump my Orchard Bank and my BB RZ Mastercard if I still have the small $1k limit.
Comment 5 by lindalu
Is This A Secured Card? on 2008-04-16
I thought this was a secured card?? like the one you have to put the money on it yourself. Their website indicates this... If not how do I apply for the unsecured one and if anyone has the link please send to me... Thanks!!
on 2008-04-16 I thought this was a secured card?? like the one you have to put the money on it yourself. Their website indicates this... If not how do I apply for the unsecured one and if anyone has the link please send to me... Thanks!!
Comment 6 by yoyo11
LindaLu on 2008-04-17
Yeh,... I called them and they said they have to send you an offer... How would they ever find me?
on 2008-04-17 Yeh,... I called them and they said they have to send you an offer... How would they ever find me?
Comment 7 by tiredrn
Applied Isn't That Great on 2009-01-31
I thought Applied was great at first. It was one of the first ones I was able to get when I felt ready to start rebuilding my credit. But honestly I'm tired of paying them $10 every month to make an internet or phone payment. In addition to the monthly fee they charge.
Closing the account will hurt your credit, but not for long. In the big picture, the % rate, monthly fee, and fees for payment (unless you send a check by snail mail... Although I'm sure they have a fee to open the envelope) just isn't worth it!
on 2009-01-31 I thought Applied was great at first. It was one of the first ones I was able to get when I felt ready to start rebuilding my credit. But honestly I'm tired of paying them $10 every month to make an internet or phone payment. In addition to the monthly fee they charge. Closing the account will hurt your credit, but not for long. In the big picture, the % rate, monthly fee, and fees for payment (unless you send a check by snail mail... Although I'm sure they have a fee to open the envelope) just isn't worth it!
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Disclaimer: This content is not provided by Applied Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Applied Bank. Review content is powered by Finance Globe.
