The Applied Bank credit card is a secured card. That means that you must open an account with Applied Bank and make a deposit into that account before you can receive your card.
The deposit is designed to secure your account should it default. The limit on the card will be equal to the amount of the deposit, which can be between $200 and $5,000.
You will still have monthly payments and a fixed APR of 9.99%. Additionally your card will report to the credit bureaus.
Because your account is secured by the deposit, no one will be turned down and there is no credit check required. The annual fee for the card is $50.
The card will be issued as a Visa card and is accepted everywhere that Visa is accepted. If you make your payments regularly and on time, you will be able to generate a history of positive payments.
This can help repair a damaged credit score, but we also recommend that you eliminate negative information from your credit report.
Dont think that you just have to live with a poor credit rating; you may contact the credit bureaus to dispute the negative items and have them erased.
Speaking with the credit bureaus is the best way to improve a below-average credit score. Many people have read or heard that a negative item needs to stay on your credit report for seven years.
This is not true! The Fair Credit Reporting Act states that seven years is the maximum amount of time that an item can remain on your credit report. It makes no mention of a minimum amount of time.
There have been many lawsuits filed against debt collectors because they had been violating this law. There have been debt collectors that have paid fines because they had been manipulating the system and keeping a negative mark on a report for longer than seven years.
Additionally errors on your report are not uncommon. In fact it is estimated that 25% of the population has an inaccurate mark on their report.
Having a credit card can help you have a positive reporting account and can help you build your credit, but it also is imperative to eliminate the derogatory items.
Your credit score is a very important number and can impact your; employment, financial well being, and self confidence. There is not a more humbling sound that hearing a loan officer say Im sorry but you are declined.
However by building positive reporting accounts and remove the negative accounts you can achieve a high score. This will enable you to live a lifestyle you truly deserve.
The deposit is designed to secure your account should it default. The limit on the card will be equal to the amount of the deposit, which can be between $200 and $5,000.
You will still have monthly payments and a fixed APR of 9.99%. Additionally your card will report to the credit bureaus.
Because your account is secured by the deposit, no one will be turned down and there is no credit check required. The annual fee for the card is $50.
The card will be issued as a Visa card and is accepted everywhere that Visa is accepted. If you make your payments regularly and on time, you will be able to generate a history of positive payments.
This can help repair a damaged credit score, but we also recommend that you eliminate negative information from your credit report.
Dont think that you just have to live with a poor credit rating; you may contact the credit bureaus to dispute the negative items and have them erased.
Speaking with the credit bureaus is the best way to improve a below-average credit score. Many people have read or heard that a negative item needs to stay on your credit report for seven years.
This is not true! The Fair Credit Reporting Act states that seven years is the maximum amount of time that an item can remain on your credit report. It makes no mention of a minimum amount of time.
There have been many lawsuits filed against debt collectors because they had been violating this law. There have been debt collectors that have paid fines because they had been manipulating the system and keeping a negative mark on a report for longer than seven years.
Additionally errors on your report are not uncommon. In fact it is estimated that 25% of the population has an inaccurate mark on their report.
Having a credit card can help you have a positive reporting account and can help you build your credit, but it also is imperative to eliminate the derogatory items.
Your credit score is a very important number and can impact your; employment, financial well being, and self confidence. There is not a more humbling sound that hearing a loan officer say Im sorry but you are declined.
However by building positive reporting accounts and remove the negative accounts you can achieve a high score. This will enable you to live a lifestyle you truly deserve.
About the Author:
For a Free Credit Consultation Call 1-800-253-3735 . For more about the Applied Bank Card or for more about Rush Card a popular prepaid credit card.
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