Researching secured credit card? Duane here with how to build credit TV and in
this video I'm gonna talk about what I believe to be the best secured credit
card for most people right now. 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%
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 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. Okay so you're researching secured
credit cards when it comes to secure credit cards I'm actually very
experienced in this field because this is how I was able to rebuild my credit. I
actually got my very first secured credit card about four years ago and
that card which I believe today to be the very best secured credit card is a
secured credit card with capital one. The reason why I think it's a very good card
for most people to get or the best secured card for most people to get is
because you don't actually have to deposit what you want your credit limit
to be. So the Capital One secured card basically works this way. You deposit
anywhere between 49 dollars 99 dollars and 200 dollars depending on your
creditworthiness and whatever you deposit whether it's $49 your credit
them it will be two hundred dollars. If its its $99 your credit limit will still be
two hundred dollars and if it's two hundred dollars your credit limit will
be two hundred dollars. So it's actually different than most secured credit cards
because like I said whatever your deposit is is not necessarily what your
balance will be. A traditional secured credit card works this way you deposit
what you want your credit limit to be so for me for example I got a secured card
with capital one I don't remember what the deposit was at the time but I
recently got a secured credit card with Discover Card about seven months ago and
I initially deposited $1,300 and my credit limit was $1,300. Actually I
deposited $1,200 and then I actually deposited another thirteen hundred which
maxed it out at $2,500 so this secured credit card that I'm talking about with
Capital One does not work this way. You basically deposit either ninety nine
dollars I'm sorry
your deposit your credit limit will still be $200. Another thing that I
really like about the Capital One secured credit card is the fact that
after five payments on time five monthly payments you automatically get a credit
limit increase. Getting a credit limit increase can actually help your credit
score quite a bit and this is actually really good if you're looking to rebuild
your credit or even just build your credit. A lot of people think that
secured credit cards is just for people looking to rebuild credit or establish
credit that is absolutely not true. I use secured credit cards to actually
have more of a credit limit and to raise my overall credit limit which
will actually make my credit utilization lower and make it a lot
easier to stay within the 0% to 10% regarding credit utilization. So I just want
to talk to you guys real quickly today about like I said what I believe to be
the best secured credit card and that will be the Capital One secured credit
card becaus e like I said it's pretty straightforward. It's either a $49 $99 or
$200 and then your limit will always be 200 right off the bat and then after
five months of successful payments and on-time payments you will get an
automatic credit limit increase. That is pretty cool this video is going to be
really short I just wanted to take a moment to tell you guys that you should
really consider the Capital One secured credit card if you're researching
secured credit card. Be sure to have a look at my channel stop by my channel go
ahead and click on my link and stop by my channel and have a look around there's a
lot of videos there that I do regarding credit cards regarding cash back with
credit cards and also regarding how do those our credit. Thanks for watching if
you found this video helpful please be sure to comment below give me a thumbs
up and be sure to like comment and subscribe. Thanks for watching again
until next time take care and be blessed. Peace