any1 use Applied Bank?

[dscurlock]

Before actually reading up on any info about applied bank. I decided to
open up a secured account for $500. Any of you guys use Applied
Bank? Have you been treated any better after their lawsuits?

I wish I would have read up on them before I opened my secure
account, but I did not, they have a great number of complaints.

Better Business Bureau

http://www.bbb.org/delaware/business-reviews/banks/applied-bank-in-wilmington-de-7634010/

Consumeraffairs.com

http://www.consumeraffairs.com/credit_cards/applied_card.html

I never thought a bank would be so corrupt...

[Meatstick]

I currently have an Applied Card Bank visa card with a $2500 limit unsecured. With our impending BK filing I havent made a payment for almost 90 days now so the calls have been coming but I don't answer.

With that said in the 7 years I have had the card I have not had any problems at all. They do however have a $6.95 monthly fee and then also an annual fee. So be aware of your terms and I am sure you will be ok.


Meatstick

[dscurlock]

I currently have an Applied Card Bank visa card with a $2500 limit unsecured. With our impending BK filing I havent made a payment for almost 90 days now so the calls have been coming but I don't answer.

With that said in the 7 years I have had the card I have not had any problems at all. They do however have a $6.95 monthly fee and then also an annual fee. So be aware of your terms and I am sure you will be ok.


Meatstick

my monthly fee will be $10/mo...which I am used to. I currently
have two credit cards that charge me monthly fees..which
I am going to cancel soon...

I am just worried because of all the complaints that I have seen
on those that got a secured card though applied bank...it looks
like a few states sued them awhile back, not sure if that has
changed any of their practices...

a lot of complaints that I can tell look like end user complaints..
missing payments, getting hit with fees, blah, blah...but there
are complaints by card holders that say they got hit with
over the limit fees when they were no where of being over the limit..
I also see a lot of cancelation complaints where a person tries
to cancel their card, and applied bank gives them a lot of crap,
letting the card continue to ride, and building up fees, i have seen
a ton of "cancellation" type complaints...a lot of complaints come
from abusive calls from india trying to collect, upwards of 20-30
calls a day...I guess no problem if you pay your bill ontime...

From what I could tell so far, applied bank maybe still
a shady bank, but time will tell i guess, i will no dout
give them anymore money, I am afraid if I want to cancel
one day, they will give me grief, and not get it back as
some others claim of not getting their secured money back.

[StartingOver08]

Applied Card is a subprime card. If you already have two subprime cards, you may want to get a card with someone else, especially since it is a secured card. Have you tried Digital Credit Federal Credit Union? I understand they have a secured card program and it is not considered subprime.

IMO it is better to 'mix' your new credit so you don't have all subprime cards because your future offers will be limited to subprime offers if all you have is subprime cards. Kinda of like subprime begets subprime offers! LOL.

You can build up your credit limits by appling to Jared's or Kays - they will give large limits and it makes your credit utilization very, very low. These cards are extremely easy to get. The lower your utilization, the higher your score, usually. Utilization is 30% (maybe even 35%) of the FICO scoring model. Once you have one or two higher limit cards, then you should receive offers from non-subprime lenders with better limits.