If you have poor or limited credit history, the Applied Bank Platinum Zero Card may be a good choice for you. The credit card is actually a secured credit card from Visa. This type of card is a bit different from traditional credit cards.
You can use the credit card chaser tool on this page to compare credit cards online.
Applied Bank Platinum Card as a Secured Credit Card
The Platinum credit card from Applied Bank is considered a secured credit card. This is a good card for those with bad credit or no credit history, as many credit cards do not accept applications for those with a poor credit history.
For this Platinum secured card, you first need to open an account at Applied Bank, as an FDIC Insured Deposit. You need to make a deposit of any amount between $500 and $5,000. This amount will secure your Platinum credit card with a limit of credit for the deposit amount.
This ensures that you have money for purchases and cannot spend more than you have, but it is seen as a regular credit card by the credit bureau, which helps to build and improve your credit.
There are a couple of things to keep in mind about this particular secured card. Some secured credit cards pay a certain interest to the amount deposited, but this one does not. There is also a monthly fee associated with the use of the card.
Applied Bank Platinum Zero Card Benefits
The Platinum Zero credit card from Applied Bank has a few benefits that accompany it. A big benefit is that it comes with 0% interest on all purchases. There is also no fee for the application fee.
Another benefit to this secured card is that it comes with free protection against identity theft and there is no liability to you for fraud. The use of your credit card is also reported to the credit bureau in a timely manner, which helps to build up your credit.
To compare credit cards and their rates right now, just use the credit card chaser tool.
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