Credit Card Review & Application
|Annual Fee:||See Terms*|
|Card Category:||Business (Regular)|
|Card Type:||- Card for Bad Credit|
|Credit Needed:||Bad Credit OK*|
Whether you are the sole proprietor of your business, an entrepreneur in need of more funding, or an organization with a few dozen people, the Applied Bank Visa Business Card (known before as Small Business Micro Loan Visa Card) could help you keep your finances in order.
This is because it is a financial product that is designed to efficiently help you retain the capital you need to invest in the operation of your small business. It is perfect for your everyday needs and it can help to keep your business expenses separate from your personal expenses.
Trying to run a small business in the United States is like participating in a full contact sport. It takes a lot of perseverance and commitment and your success will solely depend on how hard you are willing to work. You reap all the benefits but you also have to put up all of the risk. However, you do not have to do it alone; in fact, there are many financial products designed to help you, like the Small Business Micro Loan Visa Card.
This unique Visa credit card acts like a small business loan that you can use towards your business expenses. Small business owners will appreciate that the credit limit is easy to manage but also that the money can be spent on anything their business needs.
Because of the nature of this card, the process for applying for a Applied Bank Visa Business Card is a little different than the process for a standard consumer or domestic credit card. Of course, you will have to supply the usual information like your name, telephone number, address, and social security number. This is so they can run a credit check to ensure your approval.
However, you can also expect to have to explain the details of your business. This includes the "structure" of your business plan as well as the Tax Identification and category of business that you own. You may also have to supply the information detailing the main bank account where you house your main business capital.
The interest rate for this particular Visa credit card seems to be slightly higher than many other domestic credit cards, but it is very likely that the benefits far outweigh the expense. For instance, you can use your card overseas for a small foreign transaction fee.
You should also know that you will have to pay an account origination fee as well as a monthly maintenance fee and there are also fees for cash advances, late payments, returned payments, and exceeding your credit limit, but there is no annual fee.
|Other Benefits:||*See Terms and Conditions of the card|
|Comments:||The Account Origination Fee and Monthly Maintenance Fee will be charged to your account when your account is opened, so your initial credit availability will be $134.95 less than your Credit Limit|
|Online Account Access:||Yes|
|APR on Purchases:||23.99% *|
|Annual Fee:||See Terms*|
|Min Finance Charge:||$0.50|
|Max Credit Line:||$500|
|Late Payment Fee:||$35.00*|
|Over Limit Fee:||$35.00|
|APR Cash Advances:||23.99%|
|Cash Advance Fee:||5.00%|
|Additional Fees||- Monthly Maintenance Fee: $9.95 ($119.40 Annually)|
- Account Origination Fee: $125 (one-time)
- Foreign Currency Transaction Fee: 3%
- Returned Payment Fee: $35
- Additional Card Fee: $30
|We do not offer online application for this card at the moment.|
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† The information provided for Applied Bank Visa Business Card is believed to be accurate at the time of evaluation (Mar 23, 2014). We strongly advise visitors to review the terms and conditions to verify accuracy of the information posted prior to applying for the product.