THIS is Why You SHOULD Consider the Discover Secured Credit Card
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- čas přidán 21. 11. 2022
- This video provides reasoning why you should consider the Discover it secured credit card in 2023. The Discover it secured credit card is the card I started out my credit score journey on. With help of the Discover it secured credit card, I was able to increase my credit score from poor to excellent. The Discover it secured credit card is a great card to start out with.
#credit #creditcard #creditcards #discoversecuredcard
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Discover is amazing ! Thank you for the videos walking through the process and how to graduate the card. I was able to succeed with credit and build a strong foundation thanks
Definitely. I'm glad Discover worked out for you. Thanks for watching, Betty.
You are right about Discover.
I got one two years ago with 200 dollars.
within 6 months it went to 1,000 and they returned my deposit.
nowt it is $4,500.
They have been great with me.
They also have a quarterly offer such as 5% off on gas from jan to march or 5% off at Amazon and so on. This card has helped me greatly.
Now I have $20K unsecured cards from credit unions and a 778 Vantage 9 score. I am happy!
Yep. I definitely recommend the card for beginners. Thanks for watching.
What did you only use your card for when it was at 200?
@@slapnk613 Initially when I was building my credit I knew it was best to not got over 10% so I didn't go over $20.
I made small purchases on Amazon or ebay and paid it off within a few days after the pending period.
Also if you can, get a Navy Federal Credit Union card secured for say 200 dollars and use only 10% and pay it off. They will unsecure it in a matter of months.
Good Luck.
Your my inspiration
I just got my very first credit score. It’s at a 740. One more payment to go before my Discover it secured card graduates and I get my $600 back.
Congrats. Thanks for watching.
@@WaterYourSoilthank you!
I have a question? What card did the secured card graduate into?
Some people say the Discover Chrome. Some say the Discover with the rotating categories.
@@zzzarkka I graduated my secured card back in 2015 so things may be different now. Mine graduated into the cash back card with categories. I don't believe there was a chrome card back then.
If you're currently a Discover card holder, your best option is ALWAYS talking to customer service and see what your card will graduate into before getting differing opinions from people on social media or CZcams. I always tell people to verify information on CZcams and anywhere else, including mine. Never be hesitant to go to the source.
@@WaterYourSoil Thank you. I’ll be giving them a call here shortly.
Im looking to apply for this card and heard so much great things about it. I can’t wait to start🫡
I wanna thank you man. I took your advice and I just got a email yesterday that my card graduated and they increased my limit. Thanks for the step by step tips it really works 🙏🏾
Congrats on the graduation and credit limit increase. I hope you get the most out of the card. Thanks for watching.
While I didn't start with a discover secure credit card,My 1st discover card back in march 3 of 2022 was a discover it cash-back. Discover started me off with a $3,000 credit limit. It is still that way right now because I don't use it as much, but for the quarterly categories and now I have at least 1 card for each payment network.
Nice. Thanks for watching.
I just got my Discover it cried card 2 days ago. So far it seems like a very good card. Can’t wait to graduate from it. I subscribed to the group, lots of good information you have, my brotha
Congrats. That's a good card to have. Thanks for watching, Chris.
thanks for the info, very helpful
Thanks for watching, Landon.
Thank you for your content. Just approved for the secured card, 1k starting limit. Waiting for my card, 1-2 weeks. Peace and Blessings to you and your Family.
Congrats on the new card, Kevin. Thanks for watching.
Just for receipts; Chapter 13 discharged 2022. Started with NFCU 09/22. My scores across the board were around 600 with myFICO. I applied with Navy Federal and was denied the Unsecured and offered a secure.
Thank you for this info ❤ great video man
Thanks for watching.
Just got approved for my Discover secured for 1500. Awaiting my card in 2 weeks. Thanks for the video.
Thanks for watching.
Thanks for the information
Thanks for watching, Dimitri.
Sooo I’m waiting on both discover and quicksilver secured.. I’m excited to restart this journey
Congrats on the cards. Good luck on your journey. Thanks for watching, Bryan.
Hey. Thanks for this video!! I was wondering. If I put more money for the deposit let’s say 1k will be better then putting 200 dollars. Will it increase my credit ?
It will increase your card's credit limit. Your credit score is based on your card usage and management amongst other things on your report. Thanks for watching, Jasmin.
I was gonna dump $300 on this but was unsure if it would work
Thanks to you, I know it will
Thanks for watching.
I just ordered the card 🎉 ready for it
Congrats. Thanks for watching.
@@WaterYourSoil thank you bro!
Question….I opted for the $200 limit. I’m getting my bonus in 2 weeks and wanted to increase to $1,000 is it too late to do that and I just have to wait for an increase?
You would have to contact Discover's customer service. I started off with a $200 dollar credit limit as well. Thanks for watching.
Anybody know of a all digital cardless secured credit card? Like its all online only?
Thanks for watching.
@Water Your Soil If my card graduated with a $500 limit and my credit score is just 570. What to do next? In the beginning i was asked to deposit $200
This video might address your question: czcams.com/video/gmpwZc1zzWU/video.html
Just curious I skimmed through the video, but do the Discover It secured card report utilization percentage?
Yes. The Discover secured card is reported like a normal credit card. Thanks for watching.
@@WaterYourSoil Appreciate it Bro!
So I have a question water your soil . I just apply for a discover secure credit card two days ago and I got denied I call them and they told me it was only because of one reason and that was the hard inquiry’s I check my Experian report it said I have 7 hard inquiries. So my question to you is should I wait until some of the Inquiries gets remove or try to apply again in 6 months or so ? The inquiries reports said it will be removed in 2024
It's your choice. I advise people to use their own discretion when it comes to credit cards and their credit reports. Ultimately, the decision will impact you and your score. There are other secured cards if you want to go that route, or you can wait it out. Either or is your choice.
My advice dispute a couple of the inquiries by mail.
This and caro believe best combo
Thanks for watching, Ben.
I have one but need advice on how to use it. I been using it wrong I guess and now my score has dropped. It's a $200 limit, my due date is like the 17th of the mnth. How much should I spend each mnth and when should I pay it off?
Thanks for watching. Check out this video I did on utilization in reference to your question: czcams.com/video/9bJPrj0Pn0w/video.html
Don’t use more than 30%. If you have a $200 limit then only use below $60 on your credit card and pay it off on the 17th or before.
Use it to pay a bill then pay it off
So when you use your credit card what you spent you have to pay back? I don’t get what paying off your card means. I applied for the discover it secured card and it’s on it’s way. I was planning on spending 40 on gas once a month will that be right? I only put a 200 credit line but i’m thinking of increasing if i can.
Thanks for watching.
A couple of reasons to pay the vendor with a credit card, then pay off your credit card with you debit/checking account. For one, if you encounter a skimmer (a device that steals card information and spends any money tied to it) with a credit card vs a debit card, the credit card company won't charge you for the amount spent by the criminals. If you encounter a skimmer with a debit card and the criminals spend your money linked to your checking account, you are not getting that money back. Once you build your credit and have a good credit score, you gain access to credit cards with better rewards. These range from higher amounts of cash back to miles that you can use to buy airline tickets. Credit is necessary to apply for loans if you want to buy a home and car or get a loan to start a business.
What about increasing your secured limit? I started mine with 1k, I’ve noticed in some cases it is irrelevant what you start out with?
I’m looking forward to seeing the feedback you receive from the chat; was wondering the same
so when you deposit your credit limit. i know thats how much you can spend up to but does the money you deposited get to be used to pay it back on the card?
Like if i deposited 200 for a secured card and i spend 200, will the card use the 200 i deposited to
pay off or do i come out of pocket to pay the 200?
You have to pay your bill off with your own money. The $200 or any money you deposit is off limits until your card graduates. Thanks for watching.
Thanks for asking I was curious too!
@@WaterYourSoilthen after the 7 months they give you your deposit back ?
@@Jon-ly6xe It's up to the bank when they'll give you the deposit back. It's usually when they feel you've shown them enough to graduate your card from secured to unsecured.
It is so complicated here in the USA. I don't know how you guys live with this poor banking system and customer service everywhere.
Thanks for watching.
Trying rebuild credit got approved for the secured credit card.
Congrats on getting approved. Thanks for watching.
Greetings!!!! Can we make also bank transfer?ur house it like monthly debit credit payment for bills ? Thank you so
Hello Luiza. I'm not sure what you're asking. Are you referring to paying your monthly bills with your Secured card?
@@WaterYourSoil yes-- this I was trying to ask…thank you!!!
Is it normal that they ask you to fill out a 4506 T form after applying?
Normally they do that to verify your income. They didn't do it for me or anyone I'm familiar with, but that is something they do for verification of income. Thanks for watching, Oscar.
@@WaterYourSoil do they do that for everyone?
If I pay off a $50 phone bill every month with the secured card is that too much?? I have a $200 credit limit.
It's strictly your call. Your credit score will let you know if your utilization is too high. I like to keep my utilization at 10% or below. However, at the end of the day it's your call. Thanks for watching.
You have to drink every time he says “Discover It Secured Credit Card.”
I want people like you to come to the comment section and mention it. Mission accomplished. Thanks for watching.
do you get your security deposit back?
Yes, if the card graduates to unsecured. Thanks for watching, Charles.
How to remove inquiries
Thanks for watching.
Is it ok to apply online? Or in person ?
I only know of going through Discover's website. Thanks for watching.
i just got this one with a $200 limit :)
Congrats. That's how I started out. Thanks for watching.
update? How is the card so far and its service?
@@SGSlumpgod i haven’t received it yet, they told me it could take up to two weeks :)
@@MasterChiefFLY how is the card I’m thinking about getting one and what’s your limit on now
@@xaviertoshifty it’s a good card i have one with a $200 limit.
Why The bank has so many bad reviews 😵💫 ?? I saw them in Facebook…
Which bank are you referring to? Discover? Thanks for watching.
hey so i put 500 on my card and from my thought process. the $500 is on the card , and what i’m noticing is that when i make purchases. i’m getting charged that amount to my bank? is that what’s supposed to happen? my
thinking was that it would use the 500 on the discover card. i’m just really confused.
I haven't heard of that before. You should contact Discover's customer service to see why that's happening.
@@WaterYourSoil okay i will. because no money should be coming out of my bank correct ? if i already deposited $500 on the discover card
@@jonbapalot Yeah, contacting them will be best. I haven't heard of money taken out of your bank account every time a Discover credit card purchase is made. I know they do it initially for your deposit. Contact Discover asap and see what's up.
did you get it solved
It sounds like you have your bank account card and your credit card mixed up my guy lol
Never had the secured but Ive been a fan of Discover for a long time. Great info 🫡
Thanks for watching, Sledge.