Digital News Report – Credit cards can be one of those necessary evils that Americans need to survive. They are needed to rent cars, make reservations at hotels and can be used as a second form of identification.
There are various options available to people with bad or poor credit. A secured card can bring convenience while offering card holders the opportunity to improve their credit score.
The Applied Bank® Secured Visa® Credit Card is a new option available. The bank offers a low fixed annual percentage rate (APR) of 12.99%. The bank says that rate will not change “even if you’re late!”
The Applied card is secured by a deposit account owned by the cardholder. In some cases the account can accrue interest.
Everyone is welcome to apply for this credit card but it is designed for people with poor or bad credit. Like any other credit card, the cardholder is expected to make the regular payments.
Making the payments can help improve your credit score. Applied Bank says they report the payments to the credit reporting bureaus.
By: Tina Brown