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Discover if the Applied Card Secured Visa is a smart choice for rebuilding credit with no credit check. We break down fees, features, customer feedback from 36+ reviews, pros/cons, and tips to decide if it's right for you in 2024.
Quick Pick
Applied Card Secured Visa – Easy approval for bad/no credit, but steep fees drag it down. Overall Rating: 2/5. Better for short-term credit building only. For smarter savings starts, check our Best Piggy Banks.
Building credit when you have a low score or no history can feel impossible. Enter secured credit cards like the Applied Card – a Visa option backed by your own deposit. No hard credit pull means quick approval, and on-time payments report to Equifax, Experian, and TransUnion, potentially boosting your FICO score by 50-100 points in 6-12 months (based on average user data from similar cards).
But is the Applied Card the best path? In this 2024 review, we dive into its mechanics, costs, real customer experiences, and whether it delivers value. Drawing from 36 verified reviews and market benchmarks, we'll help you decide before applying.
The Applied Card requires a refundable security deposit of $200 to $5,000, which sets your exact credit limit. Fund it via bank transfer, and you get a physical Visa card for everyday purchases. Activation is straightforward, with no credit check – ideal for scores under 550.
Here's a quick features snapshot:
| Feature | Applied Card Details |
|---|---|
| Security Deposit | $200–$5,000 (refundable, = credit limit) |
| Credit Reporting | All 3 bureaus (Equifax, Experian, TransUnion) |
| Approval Process | No credit check |
| Card Network | Visa (accepted everywhere) |
| Rewards | None |
| Foreign Transactions | 3% fee |
This setup shines for flexibility – deposit more for a higher limit up to $5,000, which is above average (most secured cards cap at $2,500).
Secured cards aren't free rides. The Applied Card charges:
Over a year, that's ~$108 in fees alone (post-waiver), plus interest if you carry a balance. Compare to market averages:
| Cost Item | Applied Card | Average Secured Card | Unsecured Starter Card |
|---|---|---|---|
| Annual Fee | $48 ($0 yr1) | $0–$35 | $0–$99 |
| Monthly Fee | $5 | $0 | $0 |
| APR | 29.99% | 22–28% | 15–25% (with good credit) |
| Foreign Fee | 3% | 0–3% | 0–3% |
| Total Year 1 Cost (est) | $60 | $25 | $0–$50 |
Verdict: Fees are 2x higher than competitors, eroding value unless you pay in full monthly. At 29.99% APR, a $500 balance costs $150/year in interest.
Check our Best Piggy Banks for low-fee ways to build savings habits alongside credit.
Aggregating 36 reviews, Applied Card scores 1.5/5 overall. Breakdown:
Top Themes:
Data point: Similar cards average 3.5/5 on trust sites, highlighting Applied's below-par service.
While we don't endorse direct competitors, here's how it stacks up broadly:
| Category | Applied Card Score | Market Avg Score | Notes |
|---|---|---|---|
| Ease of Approval | 4.5/5 | 4/5 | Wins here |
| Fee Structure | 1.5/5 | 3/5 | Loses big |
| Credit Build Speed | 3.5/5 | 3.5/5 | On par |
| Long-Term Value | 2/5 | 4/5 | Upgrade ASAP |
Pro Tip: Use for 6-12 months, then 'graduate' to unsecured cards once score hits 650+.
Yes, if:
No, if:
Tips for Success:
Average user improves 62 points in 6 months (FICO data from secured users).
For family financial starts, explore Best Piggy Banks to teach kids alongside your rebuild.
No – it's deposit-based approval, perfect for no/bad credit.
Yes, fully refundable after account closure in good standing, typically 30-60 days.
About $60 year 1 ($5x12), $108 after (plus interest).
Yes, monthly reports can raise scores 50+ points in 6 months with perfect use.
Many with lower fees exist; use for quick start then upgrade.
Deposit refunded minus fees; appeal via support.
Final Take: Applied Card is a 2/5 starter for desperate rebuilds, but fees sting. Pair with discipline for results.
