SHOULD YOU GET A SECURED CREDIT CARD? | HIM500
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Are you trying to build or improve your credit score but not sure if a secured credit card is the right option for you? In this video, we'll break down the pros and cons of secured credit cards and help you decide if this type of credit card is worth getting. We'll explain what a secured credit card is and how it works, as well as the benefits and drawbacks of using one. We'll also offer tips and advice on how to choose the best secured credit card for your needs and how to use it responsibly to improve your credit score. Tune in to learn more about secured credit cards and whether they're a good fit for you.
i did a secured credit card started at $500 it converted now its $3000
What card company ?
@@giovannylafontant5843 try your any credit union (be a member) remember the Banks crashes Credit unions did not.
I just applied to get mine as well..37 and can't get anything because I "don't have enough credit history"..hoping I made a good decision
@@Johnny5-cz1ip just try to remember with a secured card your limit is what you put in example $500 that's your limit. Ps. You got this🙏
@@Johnny5-cz1ipfrom a car salesman - good decision. Don’t miss payments AT ALL, pay before you accrue interest or before your bill is due every single time.
About 6months to a year. Stay focused on the end goal. U GOT THIS 👑🙏😇
He Got The Richard Mille😍😍💯🤣
Especially if it’s a $300 secured card with $79 annual fee. If it’s a secured card it must be $5k plus with no annual fee and able to convert within a year. But he is right a pledge loan is the best way to go.
How do I get a pledge loan?
Remember y'all have to pay this debt back. Credit is not free money.
Well of course love
Brother, I’m so grateful 😇 for your wisdom and knowledge.
Not true bc I don’t have 10 positive accounts and just got a secured card. You don’t believe but I do
At the end he said trade line not trade loans btw if you don’t know what that is look it up
10 credit Account is crazy dept … why do you need your score to be so perfect? Make money and stop borrowing
I just got a secured card that after a year it converts. After having identity theft a year is nothing to help me build my credit back. I have built my credit back in 2 years before.
Tried to tell someone this they looked at me like I was dumb now they credit don't move
I’m a home owner, have a vehicle loan. As well as have paid off two other vehicles in the last few years. And I can’t get a credit card for some reason. Never get approved. I was only able to get a secured card so I applied the max amount they’d let me. Hopefully after a year or so I’ll be able to get a real credit card.
Build a relationship with that company. Get a checking n savings with them. Direct deposits help too. Dont be afraid to use 50% or more just pay it off. I was just approved for a capital one quicksilver card. I have a unsecured with them that never graduated. I got an auto loan, checking account with them. When i made my 10th auto payment they approved me for an upgrade card the next day. My score is fair and they still approved me, my unsecured card is almost max out too. Make sure income,address match credit report.
Make sure to use only 30% of the amount pay it off over 6 months. It shows activity, ablitity to pay over time and ability to manage your credit. Look at credit cards as high interest loans and used only for emergency situations.
Secured cards are the way to start
What cards have u tried and how much are u putting annually
You can use your credit cards as much you want and make as many payments you want long as you don’t max it out! And NEVER EVER late on the payment! Best thing to do is only buy what you can afford that you’ll have cash on hand to cover all the CC transactions when the bill is due!!! And keep your CC utilization under 30% but better within 1-3% on your statement reports. And to avoid any interest pay the balances in full every month. Hopes this help.😊
Homeless wearing a suit?lol
I have no credit score since i always pay cash or cheques when aquiring things and paying bills.
Booking hotel rooms and renting equipments was becoming an issue as most require a credit card.
So i did get a secured credit card from my cibc bank and put 1000$ on it.
I used it every month 2/3 of it and repay in full on the 5th of each month.
For 18 months and now i have a credit score of 650(650 is a must and a minimum to be accepted on any loan)
Also they gave me back my money i first deposited on the secured card and now i have a 2500$ real' credit card from cibc.
So what he is talking about here again?
10+ positive reports for what? Can someone explain?
What?!
This was confusing… do I get it or no?🤦🏽♂️
He's all over the place and his logic is also ridiculous.
What interview is this?
Need your assistance
I believe in it
This man just said a whole bunch of nothing
That’s what you got huh? Lol I can tell you’re not financially savvy.
Very few secured cards make you front the money for your card but don’t refund you your deposit when your card graduates to an unsecured card.