How To Build Your Credit Score (Step 2)

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 cool 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!