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The Applied Bank® Secured Visa® Gold Card is ideal for those with limited or poor credit who may have difficulty in obtaining a standard unsecured credit card. As with all secured cards, the available balance on the card for purchases must be secured through a bank account. Once you are approved, your credit limit is equal to the amount you are allowed to deposit to this account, which will be reviewed for increases periodically. You'll then be able to use the card anywhere a traditional credit card is accepted. This card does have a low annual fee, but there are no application or participation fees. However, unlike prepaid debit cards, you'll still have to pay interest if you choose to carry a balance on this card, but the interest rate for purchases is reasonably low. Various cardholder benefits are also provided. The APR that is applied to purchases is very low for a secured card. It is important to note that there is no grace period for purchases, which means that interest will be applied immediately to any charges made with the card.
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