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The Platinum Zero™ Secured Visa® Credit Card is a secured card issued by Applied Bank®. With no credit or income requirements, this card is designed for those with limited or poor credit history.
The major benefit of this card is the fixed APR of 9.99% for cash advances, which is reasonably low for a secured card. There is a $500 minimum deposit required, a $5,000 maximum, and a fee of $9.95 per month.
Unlike most secured credit cards, this card provides additional services and benefits, including online account access and various fraud protection services.
It is important to note that a major drawback of the card is that there is no grace period for purchases. This means that interest will be applied immediately to any charges made with the card. A downside is that this card does not pay interest to the deposit amount, which sets it apart from other secured cards that do.
Those who can afford the $500 minimum deposit and do not mind accumulating finance charges once a transaction is posted will benefit most from the very low rate that the Platinum Zero™ Secured Visa® Credit Card has to offer.
Most Attractive Feature(s): Timely credit bureau reporting; No application fee
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