Applied Bank Credit Cards
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%.
There is an annual fee of $50 for the card. However, because your account is secured by your deposit, everyone is accepted for the card, and there is no credit check required.
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.
You do not have to just live with a low score. You can dispute the derogatory items with the bureaus 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.
However, this is completely untrue! According to The Fair Credit Reporting Act, seven years is the maximum amount of time that an item can remain on your credit report"no mention is made 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.
Despite the fact that having a credit card can help you build credit and have a positive reporting account, it is important to get rid of the harmful marks as well.
Never underestimate the importance of your credit score. It can impact your employment, financial health and self esteem. Hearing the words Im sorry, but youre declined from a loan officer is an extremely humbling experience.
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%.
There is an annual fee of $50 for the card. However, because your account is secured by your deposit, everyone is accepted for the card, and there is no credit check required.
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.
You do not have to just live with a low score. You can dispute the derogatory items with the bureaus 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.
However, this is completely untrue! According to The Fair Credit Reporting Act, seven years is the maximum amount of time that an item can remain on your credit report"no mention is made 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.
Despite the fact that having a credit card can help you build credit and have a positive reporting account, it is important to get rid of the harmful marks as well.
Never underestimate the importance of your credit score. It can impact your employment, financial health and self esteem. Hearing the words Im sorry, but youre declined from a loan officer is an extremely humbling experience.
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 Bad Credit Credit Cards.
posted by Debt Consolidation Loan at
3:37 PM
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