Platinum Zero® Secured Visa® Credit Card

Platinum Zero® Secured Visa® Credit Card Sponsored Card
  • Minimum Credit Required:Fair, Limited History, Bad
  • Network: VISA
  • Online Response:Yes
  • Secured Credit Card:Min Deposit of $500
  • Rating:
    3.2
    8 votes - Cast your vote
 
Proceed Editor's Pick
 
 
Details
  • Secured Credit Card / Min Deposit of $500
  • 0% FIXED APR on Purchases - This is NOT an Intro Rate!
  • Your 0% Rate Won't Change - Even If You're Late!
  • Credit Bureau Reporting
 
 
Fees
Membership Fees:
Annual None Monthly $9.95
One-time Fees:
Account Set-up None Program Fee None
 
 
 
Purchases & Cash Advances:
Purchase Rate 0% Fixed Cash Advance Rate 9.99% Cash Advance Fee 5% (min $5)
 
 
Penalties:
Max Late Fee Up to $35 Max Overlimit Fee None Max Penalty APR None
Proceed
 
 
Your Recommendation
3.2
Your Rating: 1 2 3 4 5  
Overall Rating: 3.2 / 5 from 8 users

If you currently have the Platinum Zero® Secured Visa® Credit Card and are satisfied or you like the terms of this credit card offer please let your friends know.

 
 
Editor's Pick

Platinum Zero® Secured Visa® Credit Card is an Editor's Pick for

 
 
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Platinum Zero® Secured Visa® Credit Card is related to the following credit card categories:

 
 
 
About the Issuer: Applied Bank

Based on their website: "The goal of Applied Bank is to continually develop, expand, and retain sound consumer and commercial relationships by delivering attractive and competitive financial products and services, at an exceptional level of quality that exceeds consumer's needs and expectations.
Their Customers are their top priority. Making the most of your time and money is more than a catch phrase…it's their business."

 
 
back to top Discussion

Share your experiences, thoughts or just ask a question:

  • Joe Weider:
    The Platinum Zero Secured Visa Credit Card is one of the cards that most clearly shows how credit card companies operate and how people think. Credit card companies know that people are attracted to credit cards offering “zero” anything, zero annual fee, 0% APR, no foreign fee, etc., so they offer such terms but this does not necessarily mean that their offers are as good as they might appear. Often in exchange for bottoming out in one category, credit card companies raise rates or fees in other areas. The Visa Platinum Secured Credit Card has a 0% APR, yes, but it also has a $9.95 monthly fee, which equates to $119.40 per year. That’s equivalent to someone revolving a $500 balance for the entire year on a card with a 23.9% APR. The Platinum Zero Secured Visa Card is therefore only a good option for someone who plans on putting down a really high security deposit (at least $1,500) and revolving a high balance for basically the entire year (at least $1,500 as well) – a small business owner perhaps. For example, if you were to revolve a $3,000 balance on another business credit card, you’d need a 4% APR to limit your interest costs to $119 per year (119/3k = 4%), and you’re not going to get an APR that low. Keep in mind though the maximum deposit allowed with the Platinum Zero Secured Card is $5,000. However, if you need a secured card, and will be able to pay your balance in full every month OR not using the card at all (just having it for credit reporting purposes) OR will be revolving a balance less than $1,500 on a consistent basis, the Platinum Zero Visa is an expensive option. You won’t be saving enough in finance charges to warrant paying the high monthly fee.
 
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