Friday, 3 April 2020

Capital One Secured Credit Card

Capital One Secured Credit Card
31 Jul
7:22

Okay so you're researching Capital One secured credit card Duane here with how to build credit TV and in this video I'm gonna talk to you about the Capital One secured credit card and I'm gonna give you my opinion regarding this card

I actually have two secured credit cards at the moment I thought I had the Capital One secured credit card a while back but it turns out that it was just a regular credit card with them that I later on upgraded to the savor card from Capital One So in this video I'm gonna talk to you about the Capital One secured credit card 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 We also talk about everything you need to know regarding credit whether you're looking to establish credit, build credit, rebuild credit or learn more about the FICO score and how it is comprised so you can increase your credit score

If this sounds like something was you're interested be sure to subscribe to our channel and click the notification bells so you don't miss a thing As a matter of fact subscribe to our channel right now will help us grow faster which will allow us to; number one get this information out to more people, number two monetize our channel and number three make it a lot easier to continue to upload videos just like this one So if you're new here consider subscribing alright now that we have all that away let's talk about the Capital One secured credit card This credit card I find to be a very useful credit card especially if you want to get a secured credit card but you don't want to shell out more than $200

The Capital One secured credit card works this way, you basically put down 49 dollars 99 dollars or $200 depending on your creditworthiness So when you apply for the card they'll let you know if you need to deposit $4999, $99 or $200 No matter what your deposit is your credit limit will initially be $200 So for example if your deposit is $49 then your credit limit will be $200

If you're in deposit is $99 based on your credit worthiness your credit limit will still be $200 If your deposit is $200 based on your credit worthiness once again your limit will be $200 So initially whatever your deposit is $4999, $99 or $200 your limit will be $200 So it's different than most secured credit cards because you don't have to pay exactly what your credit limit is going to be

So that's a good thing, another good thing about the capital secured credit card is the fact that after five payments five monthly payments they automatically increase your credit limit And that is a very good thing it's good for your credit score It's good if you're trying to rebuild or even build your credit so I'm gonna jump on my laptop and we're gonna have a look at the Capital One website so we can learn a little bit more about the Capital One secured credit card Give me one second and I'll jump on over to the website Okay so we're at the website here with the Capital One secured credit card and as you can see here it says credit level rebuilding

This is a great credit card it's a great secured card because first of all there is no annual fee and it works a little different than a regular secured credit card in that you don't have to deposit what you want your credit limit to be So let's go ahead and scroll down and have a look here Alright on the left it says required security deposit so that's 49 dollars 99 dollars or two hundred dollars And this is refundable based on your credit worthiness So initially when you apply for the card you're gonna fall into one of three categories you're gonna either be $49 deposit $99 deposit or $200 deposit

Regardless of what your deposit is your initial credit line will be $200 So if your deposit $49 your credit lines gonna be $200 If your deposit is $99 your credit line is going to be $200 If your deposit is $200 your credit line is also going to be $200, so this one is pretty straightforward If you're lucky maybe you can just deposit the 49 bucks and have a $200 credit line which is a lot different than the standard secured credit card where you'd have to put down what you want your credit limit to be

So the Capital One secured credit card is different and maybe a little better a little more budget-friendly for people that aren't able to put down 500 or 1,000 dollars on a secured credit card Another thing that I like about the Capital One secured credit card is that after five payments, after making five monthly payments on time you automatically get access to a higher credit line So you don't have to call them they're automatically gonna increase your credit line which is very good It's good for your credit score it's good to help rebuild or even build your credit score when you have a higher credit line So that's one of the things that the Capital One secured credit card does is after five payments they automatically increase your credit line

Another thing is that you can personalize your payment's It says you can pick your own monthly due date and payment method whether it's a check, online or at a local branch So the Capital One secured credit card is actually providing a lot of value This website spells everything out for you that you need to know There's a lot of information here as I scroll down the site it talks about getting started it talks about making your security deposit and it says once your deposit is received that your card you're gonna receive the card in two or three weeks okay

And then there's a lot more information here that you can go through whenever you're ready to sign up for this card I'll go ahead and put the link to this website at the bottom of this video it's just a regular link I don't make any money or anything if you click on the link and go get the Capital One secured credit card So that's pretty much it for this video guys I'll see you guys back in just one second Okay thanks for watching this video Once again our channel talks about everything you need to know about credit

Whether you're looking to the established credit, build credit, rebuild credit or learn more about the FICO score and how it is comprised so you can increase your credit score If this sounds like something in which you're interested be sure to subscribe to our channel and click that notification bell so you don't miss a thing Thanks again for watching the channel if you have any questions please leave them in the comment below I'll answer it as soon as I see it If you like this video be sure to give me a thumbs up and if you want to share this video with somebody that you think may find helpful please feel free to do so

Once again thank you for watching until next time take care and be blessed Peace!

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