Applied Bank® Secured Visa® Gold Preferred® Credit Card Review 2026
The Applied Bank® Secured Visa® Gold Preferred® Credit Card is a secured credit card for people who are building credit for the first time or trying to rebuild damaged credit.
Its biggest selling point is simple: there is no credit check.
That makes it easier to access for people with bad credit, no credit history, or a weak credit file. The card also reports payment activity to all three major credit bureaus, which is important if your goal is to improve your credit profile.
The card has another major advantage: a low 9.99% fixed APR.
That is unusually low for a secured card, especially one that does not require a credit check.
But the card is not perfect. It has a $48 annual fee, no rewards, no grace period, and no option to upgrade to an unsecured card.
So the card is useful, but only for the right type of user.
Quick Verdict
The Applied Bank® Secured Visa® Gold Preferred® Credit Card is worth considering if you want a secured card with no credit check and a low APR.
It is especially useful if you think you may carry a balance occasionally. The 9.99% fixed APR is much lower than many secured cards and bad credit cards.
However, if you always pay in full and can qualify for a no annual fee secured card, you may find better value elsewhere.
This card is best for people who want easier approval, credit bureau reporting, and a lower interest rate.
Applied Bank® Secured Visa® Gold Preferred® Credit Card: Key Details
| Feature | Details |
|---|---|
| Card type | Secured credit card |
| Best for | Starting or rebuilding credit |
| Issuer | Applied Bank |
| Credit check | No credit check |
| Minimum credit score | No minimum credit score required |
| APR | 9.99% fixed APR |
| Annual fee | $48 |
| Rewards | None |
| Credit reporting | Reports to all three credit bureaus |
| Security deposit | Required |
| Credit limit | Based on your deposit |
| Credit limit increase | Up to $5,000 with additional deposits |
| Upgrade option | No unsecured upgrade path |
| Requirements | Verification of residence, identity, and ability to pay |
What Is The Applied Bank® Secured Visa® Gold Preferred® Credit Card?
The Applied Bank® Secured Visa® Gold Preferred® Credit Card is designed for people who need a credit card while establishing or rebuilding credit.
Since it is a secured card, you must provide a security deposit after approval. Your deposit becomes your credit limit.
For example, if you deposit $500, your credit limit will be $500.
That deposit reduces the issuer’s risk and allows Applied Bank to offer the card without a credit check.
This makes the card accessible for people who may struggle to qualify for traditional credit cards.
The Biggest Advantage: No Credit Check
The biggest reason to consider this card is the no credit check approval process.
Applied Bank does not require a minimum credit score.
That can be helpful if:
- You have no credit history
- You have damaged credit
- You have been denied by other card issuers
- You want to avoid a hard credit pull
- You need a secured card that reports to the bureaus
You still need to verify your identity, residence, and ability to pay. But the lack of a credit check makes this card easier to access than many secured cards.
Low 9.99% Fixed APR
The strongest feature of this card is the 9.99% fixed APR.
That is very low compared with many secured cards, subprime unsecured cards, and credit building cards.
This matters if you may carry a balance.
Ideally, you should pay every credit card in full each month. But if you think you may occasionally carry a balance, a lower APR can reduce the cost of interest.
This is where Applied Bank stands out against cards like OpenSky, which may have a lower annual fee but a much higher APR.
The Main Drawback: $48 Annual Fee
The card charges a $48 annual fee.
That is not ideal, especially because some secured cards charge no annual fee.
However, many cards with no credit check do charge an annual fee. Compared with many unsecured cards for bad credit, this fee is still more reasonable.
The real question is whether the low APR and no credit check are worth the annual cost.
If you can qualify for a no fee secured card, that may be better.
If you cannot, the $48 fee may be acceptable for the access and low APR.
No Grace Period
One important drawback is the lack of a grace period.
A grace period usually lets you avoid interest if you pay your full statement balance by the due date.
Without a grace period, interest may start applying more quickly.
This makes it important to understand the terms clearly before using the card.
Even with a low APR, you should still aim to pay your balance as quickly as possible.
No Rewards
The Applied Bank® Secured Visa® Gold Preferred® Credit Card does not offer rewards.
There is no cash back, no points, and no welcome bonus.
That is not unusual for a no credit check secured card, but it still limits the card’s value.
This card is not for earning rewards. It is for building credit with easier approval and a lower interest rate.
No Upgrade To An Unsecured Card
Another major limitation is that the card does not offer an upgrade path to an unsecured card.
That means you should not view this as a card you keep forever.
You may use it to build credit, then later apply for a better card once your credit improves.
Cards with an upgrade path can be more convenient because they let you move forward without opening a new account. Applied Bank does not offer that benefit.
Security Deposit And Credit Limit
Like all secured credit cards, this card requires a security deposit.
Your deposit determines your initial credit limit.
Applied Bank lets you fund your deposit using a credit card, debit card, or prepaid card. The application can be completed on mobile or desktop.
When you submit your application, Applied Bank can process the full security deposit and place an immediate hold on the funds selected as your credit line.
Applied Bank says it does not keep your debit card information on file.
Credit Limit Increase
You can increase your credit limit by adding more money to your deposit.
Applied Bank allows credit limit increases up to $5,000 after your account has been approved.
To request an increase, you can contact the customer service department. If approved, you will receive instructions on how to send the additional security deposit.
This can help your credit score if it lowers your credit utilization.
For example, if your spending stays the same but your available credit increases, your utilization ratio may improve.
Credit Bureau Reporting
The card reports payment information to all three major credit bureaus.
That is important because your credit building activity needs to appear on your credit reports.
The three major bureaus are:
- Equifax
- Experian
- TransUnion
If you make on time payments and keep your balance low, this reporting can help build a stronger credit history.
About Applied Bank
Applied Bank is headquartered in Wilmington, Delaware.
It is FDIC insured and operates as a Delaware state chartered bank. The bank offers commercial and consumer banking services.
Applied Bank has been around since 1996.
The bank also participates in several local campaigns and community initiatives, including financial literacy programs and local nonprofit efforts.
Applied Bank® Secured Visa® Gold Preferred® Credit Card Pros And Cons
Pros
| Pros | Why It Matters |
|---|---|
| No credit check | Easier access for bad credit or no credit |
| No minimum credit score | Useful for people starting or rebuilding |
| Low 9.99% fixed APR | Much lower than many credit building cards |
| Reports to all three credit bureaus | Helps build credit history |
| Credit limit increases up to $5,000 | Can help reduce utilization |
| FDIC insured bank issuer | Issued by an established bank |
Cons
| Cons | Why It Matters |
|---|---|
| $48 annual fee | Adds yearly cost |
| Security deposit required | You must fund the card upfront |
| No rewards | No cash back, points, or miles |
| No grace period | Interest handling may be less favorable |
| No unsecured upgrade path | You may need to apply elsewhere later |
| Better no fee cards may exist | If you qualify, those may be better |
Who Should Consider This Card?
The Applied Bank® Secured Visa® Gold Preferred® Credit Card may be a good fit if:
- You have bad credit
- You have no credit history
- You want no credit check
- You need reporting to all three bureaus
- You want a low fixed APR
- You may carry a balance occasionally
- You can pay a refundable security deposit
This card is especially useful for people who care more about approval and APR than rewards.
Who Should Avoid This Card?
You may want to avoid this card if:
- You can qualify for a no annual fee secured card
- You want rewards
- You want an unsecured upgrade path
- You always pay in full and do not need a low APR
- You want a card with a grace period
- You do not want to pay an annual fee
If your main goal is low cost credit building and you can qualify elsewhere, compare your options first.
Applied Bank Vs OpenSky
OpenSky is another secured card option that does not require a credit check.
OpenSky may have a lower annual fee than the Applied Bank® Secured Visa® Gold Preferred® Credit Card. But OpenSky also has a much higher APR.
That makes the choice fairly simple.
If you are sure you will never carry a balance, OpenSky may be better because of the lower fee.
If you think you may carry a balance, Applied Bank’s low 9.99% fixed APR may make it the better choice.
Steps To Take After Approval
Getting approved is only the first step. The real work starts after you receive the card.
Monitor Your Credit
Keep an eye on your credit reports.
This helps you understand your progress and spot possible errors.
It can also give you early warning of identity theft.
Pay On Time
On time payment history is one of the most important parts of credit building.
Set reminders or autopay so you do not miss a payment.
Keep Utilization Low
Try to keep your balance below 30% of your credit limit.
Below 10% is even better.
If your limit is low, use the card only for small purchases.
Consider Increasing Your Limit
If you can afford to add more to your deposit, a higher credit limit may help lower your utilization.
But only do this if it fits your budget.
Compare Better Cards Later
Since this card does not upgrade to unsecured, plan to apply for a better card once your credit improves.
The goal is to use this card as a stepping stone.
Final Verdict
The Applied Bank® Secured Visa® Gold Preferred® Credit Card is a useful credit building card for the right person.
Its best features are no credit check, no minimum credit score, three bureau reporting, and a low 9.99% fixed APR.
That combination is rare.
The drawbacks are also clear: a $48 annual fee, no rewards, no grace period, and no upgrade path to an unsecured card.
If you can qualify for a no fee secured card, that may be better.
But if you need a no credit check secured card and care about having a low APR, Applied Bank is worth considering.
Use it carefully, pay on time, keep your balance low, and move to a better card once your credit improves.
Frequently Asked Questions
Does Applied Bank® Secured Visa® Gold Preferred® Require A Credit Check?
No.
The card does not require a credit check or minimum credit score.
Is This A Secured Card?
Yes.
This is a secured credit card, so you need to provide a security deposit.
What Is The APR?
The card has a low fixed APR of 9.99%.
Does The Card Have An Annual Fee?
Yes.
The card has a $48 annual fee.
Does It Report To Credit Bureaus?
Yes.
The card reports payment information to all three major credit bureaus.
Can You Increase Your Credit Limit?
Yes.
You can increase your credit limit up to $5,000 by adding additional deposits after approval.
Does The Card Earn Rewards?
No.
The card does not earn rewards.
Can You Upgrade To An Unsecured Card?
No.
There is no option to upgrade to an unsecured card.
Who Is This Card Best For?
It is best for people with no credit or badly damaged credit who want no credit check and a low APR.
