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.
You will still have monthly payments and a fixed APR of 9.99%. Additionally your card will report to the credit bureaus.
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.
If you are concerned with repairing a damaged credit score this can help. However we suggest you also remove negative information from your credit report.
Many people think that you just have to live with a low credit score, but this is not true. It is possible to contest the negative items with the credit bureaus and request that they be erased.
This has been shown to be the most effective method of raising a low score. There is a lot of information circulating that says a negative item must remain 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 law suits have been filed and fines assessed to debt collectors who have violated this law. Some have manipulated the system and left a negative mark on a credit report for longer than seven years.
It also is not uncommon for a credit report to contain errors. In fact, it is believed that one-quarter of all credit reports contain incorrect items.
While a credit card will help because you will have a positive reporting account and be building credit. It is vital to remove the negative items too.
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.
However by building positive reporting accounts and remove the negative accounts you can achieve a high score. This will enable you to live a lifestyle 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.
You will still have monthly payments and a fixed APR of 9.99%. Additionally your card will report to the credit bureaus.
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.
If you are concerned with repairing a damaged credit score this can help. However we suggest you also remove negative information from your credit report.
Many people think that you just have to live with a low credit score, but this is not true. It is possible to contest the negative items with the credit bureaus and request that they be erased.
This has been shown to be the most effective method of raising a low score. There is a lot of information circulating that says a negative item must remain 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 law suits have been filed and fines assessed to debt collectors who have violated this law. Some have manipulated the system and left a negative mark on a credit report for longer than seven years.
It also is not uncommon for a credit report to contain errors. In fact, it is believed that one-quarter of all credit reports contain incorrect items.
While a credit card will help because you will have a positive reporting account and be building credit. It is vital to remove the negative items too.
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.
However by building positive reporting accounts and remove the negative accounts you can achieve a high score. This will enable you to live a lifestyle you truly deserve.
About the Author:
For a Free Credit Consultation Call 1-800-253-3735 . For more about the www.appliedbank.com or for more about Baby Phat Rush Card a popular prepaid credit card.
posted by Debt Consolidation Loan at
2:20 AM
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