Okay so you're researching Capital One secured credit card. Duane here with
how to build credit TV and in this video I'm gonna talk to you about the Capital
One secured credit card and I'm gonna give you my opinion regarding this card.
I actually have two secured credit cards at the moment. I thought I had the
Capital One secured credit card a while back but it turns out that it was just a
regular credit card with them that I later on upgraded to the savor card from
Capital One. So in this video I'm gonna talk to you about the Capital One
secured credit card but 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%
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alright now that we have all that away let's talk about the Capital One secured
credit card. This credit card I find to be a very useful credit card especially
if you want to get a secured credit card but you don't want to shell out more
than $200. The Capital One secured credit card works this way, you basically put
down 49 dollars 99 dollars or $200 depending on your creditworthiness. So
when you apply for the card they'll let you know if you need to deposit $49.99, $99 or $200.
No matter what your deposit is your credit limit will initially be $200.
So for example if your deposit is $49 then your credit limit will be $200. If
you're in deposit is $99 based on your credit worthiness your credit limit will
still be $200. If your deposit is $200 based on your credit worthiness once
again your limit will be $200. So initially whatever your deposit is
$49.99, $99 or $200 your limit will be $200. So it's different than most secured
credit cards because you don't have to pay exactly what your credit limit is
going to be. So that's a good thing, another
good thing about the capital secured credit card is the fact that after five
payments five monthly payments they automatically increase your credit limit.
And that is a very good thing it's good for your credit score. It's good if
you're trying to rebuild or even build your credit so I'm gonna jump on my
laptop and we're gonna have a look at the Capital One website so we can learn
a little bit more about the Capital One secured credit card. Give me one second
and I'll jump on over to the website. Okay so we're at the website here with
the Capital One secured credit card and as you can see here it says credit level
rebuilding. This is a great credit card it's a great secured card because first
of all there is no annual fee and it works a little different than a regular
secured credit card in that you don't have to deposit what you want your
credit limit to be. So let's go ahead and scroll down and have a look here. Alright
on the left it says required security deposit so that's 49 dollars 99 dollars
or two hundred dollars. And this is refundable based on your credit
worthiness. So initially when you apply for the card you're gonna fall into one
of three categories you're gonna either be $49 deposit $99 deposit or $200
deposit. Regardless of what your deposit is your initial credit line will be $200.
So if your deposit $49 your credit lines gonna be $200. If your deposit is $99
your credit line is going to be $200. If your deposit is $200 your credit line is
also going to be $200, so this one is pretty straightforward. If you're lucky
maybe you can just deposit the 49 bucks and have a $200 credit line which is a
lot different than the standard secured credit card where you'd have to put down
what you want your credit limit to be. So the Capital One secured credit card is
different and maybe a little better a little more budget-friendly for people
that aren't able to put down 500 or 1,000 dollars on a secured credit card.
Another thing that I like about the Capital One secured credit card is that
after five payments, after making five monthly payments on time you
automatically get access to a higher credit line. So you don't have to call
them they're automatically gonna increase your credit line which is very
good. It's good for your credit score it's good to help
rebuild or even build your credit score when you have a higher credit line. So
that's one of the things that the Capital One secured credit card does is
after five payments they automatically increase your credit line.
Another thing is that you can personalize your payment's. It says you
can pick your own monthly due date and payment method whether it's a check,
online or at a local branch. So the Capital One secured credit card is
actually providing a lot of value. This website spells everything out for you
that you need to know. There's a lot of information here as I scroll down the
site it talks about getting started it talks about making your security deposit
and it says once your deposit is received that your card you're gonna
receive the card in two or three weeks okay. And then there's a lot more
information here that you can go through whenever you're ready to sign up for
this card. I'll go ahead and put the link to this website at the bottom of this
video it's just a regular link I don't make any money or anything if you click
on the link and go get the Capital One secured credit card. So that's pretty
much it for this video guys I'll see you guys back in just one second. Okay thanks
for watching this video. Once again our channel talks about
everything you need to know about credit. Whether you're looking to the
established credit, build credit, rebuild credit or learn more about the FICO
score and how it is comprised so you can increase your credit score. If this
sounds like something in which you're interested be sure to subscribe to our
channel and click that notification bell so you don't miss a thing. Thanks again
for watching the channel if you have any questions please leave them in the
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watching until next time take care and be blessed. Peace!