Secured Credit Card

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