How low did you go? If you have bad credit the downward spiral can seem unnerving, but you don’t have to keep playing limbo with your credit score. Get your stuff together with the card that believes in forgiveness first, Applied Bank Secured Visa Gold Preferred Credit Card.
First of all, there’s no minimum credit score required to potentially become approved for this card. They don’t run a credit check on new applicants, so if your score is really low, you don’t have to worry about further plundering it with a hard credit pull. This card is designed for people with Fair and Bad Credit to help raise their score. Another major perk is that it comes with a fixed APR, which means it never changes. Currently, the rate is 9.99%, which is far below average. It’s much lower than the rate most people with bad credit are accustomed to getting approved for. That makes this a relatively low penalty card, at least when it comes to APR.
Because this is a secured card, it will require a small deposit and that deposit will equal your credit limit. That means you likely won’t be able to use this card for something like new bedroom furniture right out of the gate. However, that’s by design. This card isn’t supposed to be your “end all, be all” credit companion, it’s a card that paves the path to better credit and a brighter financial future. If you can hold off on making big purchases, and focus on building your credit score instead, this can be a great card for exactly that purpose.