Okay so you may be researching secured credit card. Duane here with how to build
credit TV and in this video I'm just gonna give a update video to a secured
credit card that I have which is a Citibank secured credit card. And I just
want to talk about what to expect when you're interested in getting this
particular card. So that's what we're gonna talk about in this video but
before we get started I have a quick message. Once again my name is Duane
with how to build credit TV and on this channel we talk about everything you
need to know about credit. Whether you're looking to establish credit, build credit,
rebuild credit or learn more about the FICO score and how it is comprised so
you can increase your credit score. We also talked about ways to get cash back
actual cash money from using credit cards as well as credit car reviews. If
this sounds like something in which you're interested be sure to subscribe
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Okay so I want to make a really quick video to talk to you guys about secured
credit cards or secured credit card. Now in this video I'm gonna be talking about
my experience with the Citibank secured credit card. I've had this credit card
for about ten months now and recently I just received a letter from them. I'll put
the letter on the screen that talks about the fact that I no longer need a
deposit because my card is going to graduate to an unsecured credit card. So
I just kind of wanted to make a update video to talk about this particular
secured credit card and let you know what to expect from this particular
target which is the Citibank secured credit card. So like I said I had the card
for about ten months now and I initially just deposited $200 with this card. And
the reason why I got this secured credit card was because I wanted to
establish a relationship with Citibank. It has been a while since I had an
account with Citibank and I wanted to kind of re-establish relationship with them
because I was interested in getting other cards that they do offer. Okay so
when I got the Citibank secured credit card I deposited $200. So they basically
held my $200 in an account of course this account does not accrue interest or
anything like that it's just a collateral holding account. And so they
hold my 200 bucks and that's all they did they did that for about ten months.
Now to be honest with you I did not use this secured credit card that much. I
think I probably used it over the 10 months maybe six times and I'm not
exaggerating literally maybe only six times. So it's actually kind of weird to
me because I've had the discover it secured credit card for about the same
time period, actually about eleven months now and I have a twenty five hundred
dollar limit on that card. So I deposited twenty five hundred dollars with
Discover Card and I have not been upgraded as yet. So this is interesting
to kind of learn the difference between the two different credit card companies
and the fact that they're looking at two different criteria as far as what you
need to do in order for them to graduate your card from a secured credit card to
an unsecured credit card. So I just kind of want to make a video to just let you
guys know if you're interested in getting a secured credit card or even if
you're interested in getting be citibank secured credit card. That me and my
personal experience it had been ten months and they graduated my account
from the secured credit card to an unsecured credit card. So the letter
basically just state that I'm going to get my money back they're gonna be
sending my money back and I can expect to get the unsecured credit card in
about seventy-five days which is clearly not a short time. But the letter
just says hey continue to use a credit card until you get the new unsecured
credit card and then you can activate that card. So once again the purpose of
doing this video is just like I said to just give you information about the citibank
secured card and my experiences with that card, so you know you can
probably expect to be graduated with this particular card anywhere between
ten months to a year. And I think that's probably a pretty average rate when it
comes to secured credit cards. Now the Discover card like I said I've had that
card for eleven months at the end of next month it'll be an entire year that
I've had that card and that card I like a lot I'll put a link right here so you
can check out that card, and the fact that I've been able to get back quite a
bit of cash back. So like I said once again I just want to make a quick update
video to let you know what to expect if you're interested in getting secured
credit cards. Alright just real quickly here I want to show you guys
to my FICO credit score that I get for free with the Citibank secured credit
card. So I have my cell phone here I'll go ahead and start a screen recording
give me one second here I should've already started the screen recording but
I'm starting the stream recording right now and I'm gonna have this on the
screen. So I'll show you guys that so I'm gonna log into my city bank account
alright as you can see here I'm touching the citibank. Then it's gonna ask for my
fingerprint so on and so forth. So I'm gonna login to this account and I just
want to show you like I said I'm gonna sign on I just want to show you like I
said that citibank does give you a free FICO credit score not just a regular
credit score like a FICO credit score. So this is pretty legitimate this is what
most of the bank's use in order to determine if they want to give you a
credit card or a loan or anything like that when it comes to getting money from
a bank. So I'm logged in to my account and I'll click on services at the bottom
of the screen and then I click on credit management and I have my phone on the
screen as well. And so I'll click on FICO scores so I click on FICO score and as
you can see here it has it on the screen that it's 830 and that's what the
current score is based on a scale from 250 to 900. Then they also have key
factors you know things that are affecting your FICO score. So it kind of
gives you feedback as to what is the reason for your FICO score being what it
is currently. Let me just click on the six months history here just to kind of
show you guys. So as you can see on the screen
back in February my FICO score was 690 and it continued to go up up and up and
up and up over the months. So I didn't really do anything in particular I made
sure that I paid my bill off in full every single month because that's what I
do that's what I practice with all of my credit cards. And I would advise you to
do the same thing as well because it's there really isn't a
benefit to having a balance for your credit card other than paying interest
and giving the credit card company some more money. So anyway I just want to show
you guys that. Once again the FICO score that I get
that you get with the Citibank secured credit card. So if you're interested in
this card definitely go for it I think it's a decent card and like I said they
upgraded me to the unsecured credit card in ten months. So thanks for watching
this portion of the video and I'll see you in just one second. Secured credit
cards are a good way to go if you're trying to re-establish credit,
if you're trying to build your credit. So if you don't know a lot about secured
credit cards I've done a lot of videos in regards to secured credit cards so
you can subscribe to the channel or go to the channel and just kind of have a
look around. I think I have a playlist that is entitled secured credit cards
actually I do have a playlist entitled of the secured credit card. So you can watch
that playlist because I've done a lot of videos on a lot of different secured
credit cards. So once again thank you so much for watching this video. If you
enjoyed the video please give it a thumbs up it helps our channel quite a
bit and if you want to share this video with somebody that may find it helpful
please feel free to do so as well. If you haven't subscribe to the channel
consider subscribing to the channel because on this channel we talk about
everything you need to know about credit. Whether you're looking to establish
credit, build credit, rebuild credit or learn more about the FICO score and how
it is comprised so you can increase your credit score. We also talked about ways
to get cash back actual cash money from using credit cards as well as credit
card reviews. If this sounds like something in which you're interested be
sure to subscribe to our channel by clicking the word subscribe below this
video to the right and click that notification bell so you don't miss a
thing. Once again my name is Duane with how to build credit TV and I approve
this video. I'll see you in the next video. Until next time take care
and be blessed. Peace!