Applied Bank Credit Card
The Applied Bank credit card is a secured card, which means that in order to receive it, you must open an account with Applied Bank and make a deposit into that account.
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.
Like other credit cards, your card will be reported to the credit bureaus and you still will have monthly payments. The APR is fixed at 9.99%.
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.
This card is issued as a visa and is accepted everywhere the visa logo is displayed. By making on time monthly payments you will be able to create a trail 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.
Contacting the credit bureaus to dispute derogatory entries is the most effective way to improve a low credit score. Many people believe that negative items must stay on your credit for seven long years.
This is false! The Fair Credit Reporting Act says that an item can remain on your report for a maximum of seven years. There is nothing about the minimum amount of time.
Many debt collectors have been sued and forced to pay fines for violating this law by manipulating the system and leaving a negative mark on an individuals credit report for more 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.
All is not lost, however. If you build positive reporting accounts and eliminate the damaging items, you can improve your credit score and live the lifestyle that 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.
Like other credit cards, your card will be reported to the credit bureaus and you still will have monthly payments. The APR is fixed at 9.99%.
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.
This card is issued as a visa and is accepted everywhere the visa logo is displayed. By making on time monthly payments you will be able to create a trail 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.
Contacting the credit bureaus to dispute derogatory entries is the most effective way to improve a low credit score. Many people believe that negative items must stay on your credit for seven long years.
This is false! The Fair Credit Reporting Act says that an item can remain on your report for a maximum of seven years. There is nothing about the minimum amount of time.
Many debt collectors have been sued and forced to pay fines for violating this law by manipulating the system and leaving a negative mark on an individuals credit report for more 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.
All is not lost, however. If you build positive reporting accounts and eliminate the damaging items, you can improve your credit score and live the lifestyle that 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 Netspend Credit Card a popular prepaid card.
posted by Credit Counseling at
3:32 AM
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