Researching how to build your credit score? Duane here with how to build
credit TV and this is the second video in a four-part series of videos in
regards to how to build your credit score. So if you haven't seen the first
part in this series be sure to click this link right here at the top right
and check out the first part. So before we get started I have a quick message.
Once again my name is Duane with how to build credit TV. This channel offers
100% free information about how to build credit, how to get cash back actual cash
money from using credit cards, as well as credit card reviews. So if this sounds like
something in which you're interested be sure to subscribe and click the
notification bell so you don't miss a thing. Ok so the second thing you want to
do in regards to building your credit score is you want to go ahead and get a
credit card or establish some kind of credit. A credit card may be the easiest
thing to do. So if you already have a relationship with a bank like Chase or
Bank of America or Wells Fargo you may want to consider applying for a credit
card with them. However if you feel like you're going to be rejected then you
definitely want to consider applying for a secured credit card. One of the secured
credit cards that I would recommend would be capital one because it's really
easy to get and it's pretty straightforward. You basically pay $49.99
$99 or $200 based on your credit, they'll let you know how much you have to pay after
you apply. So if you pay $49 you're going to have a two hundred dollar credit
limit if you pay $99 you're still gonna have a $200 credit limit and if you pay
$200 you're still gonna have a two hundred dollar credit limit but the good
thing about capital one is after five months of making your payments on time
they're automatically going to increase your credit your credit limit. So that's
an automatic credit limit increase which is pretty good this is the actual credit
card that I started off with about four years ago when I was trying to rebuild
my credit. This is actually my third time around I've ruined my credit
several times so this is what I actually did I use Capital One to initially
re-establish credit and then from there I moved on to different credit cards. One
of my favorite secured credit cards at the moment is actually the discover
it secured card. That secured card works a little bit differently than a
Capital One. Whatever you pay for your deposits starting at $200
is your credit limit. So it's from $200 up to $2,500 and
that a lot of people don't have this type of money to shell out right in the
beginning but with me I went ahead and opened the Discover Card with a $1,200
deposit and then I went ahead and deposited another $1,300 to max it out
at $2,500. Just so I can have you know spending power and I can just continue
to use my credit cards throughout the month and get a lot of cash back and not
have to worry about having to pay it off. Even though I do pay my credit card
every single week. But back to the capital one the capital one is a very
good card to get, the Capital One secured card is a good card to get because like
I said 49 dollars 99 dollars or 200 dollars and that is refundable after
your account is upgraded to an unsecured card so that's pretty coo.l I would
definitely advise you getting a secured card which would be the Capital One
credit card and that would be the second step that you need to take in regards to
building your credit score. So you just want to establish credit or re-establish
credit and you want to have good payment history, good habits, and and then you'll
be on your way. So be sure to stay tuned and watch the next video and I'm gonna
give you the next step that I took to rebuild my credit score. Thanks for
watching this video and until next time take care and be blessed. Peace!