Transcription
So I have a great credit card for you guys. This credit card graduates to an unsecured credit card. They can pre-qualify you without a hard inquiry, and it has no annual fee. So if you're looking for the best credit card to build credit, then you're definitely in the right place. This credit card is a great credit card if you want to build your credit fast.
Welcome to my channel. If this is your first time watching my videos, my name is Rakita. Welcome. I talk about real estate. I talk about credit. And if you guys ever have any questions, just go ahead and put them down in the comments because I'll be sure to answer all the questions that I get. I normally answer questions from people that's actually subscribed to me only, and I make videos for those people. You'll see a daily video that comes out where I'm answering a direct question that you guys may post. But make sure you guys subscribe because there's so many of you guys, it's so hard for me to keep up with all of the comments. So make sure you guys subscribe and ask your question, and then I'll be sure to respond back to your comments.
Sometimes I have like older videos that I think that you guys may be interested in. So go ahead and check out the videos. You'll see it on the top right-hand corner of your screen or your TV. You'll see that button that you can click to say similar cards. Check out those similar cards because a lot of times, not only can you get this credit card, but you can get those other credit cards. So definitely check out those older videos and make sure you guys like this video, subscribe, and every time you guys love a video, make sure you guys send it to me.
Okay, so let's get into this credit card now. This credit card is the Capital One Platinum Secured Credit Card. Now, this is the secured. So the Capital One Platinum Secured Credit Card, let me say it full. Now, Capital One, they have two secured credit cards. This is one of them. The other secured credit card is their Quicksilver Secured Credit Card, and that's one that they just introduced, um, a few months ago. About a year ago, they introduced that one. But we want to talk about that Platinum Secured Credit Card.
Now, this credit card allows you to pre-qualify without a hard inquiry. So they'll be able to let you know whether or not they can give you that credit card. And then also, they'll let you know, hey, instead of giving you a secured, we can actually offer you unsecured. So try to see if you can pre-qualify for the credit card, um, before you just try to pick one and apply for one. Definitely pre-qualify for it.
Now, with this one, usually they say you have a $200 limit, but depending on your credit, they may have you put down a different amount. So they may tell you to put down $49. They may take you put down $99, or they may ask you to put down the full $200. It just depends on your credit, and they'll let you know exactly how much you have to put down. Now, I don't care if you put $49 down. You guys are still going to have a $200 limit, which is perfect. I want you all to have, um, an option to get a $200 limit with the least amount down. So this is kind of like an upgrade from the other secured credit cards because they allow you to put different amounts down. So make sure you guys just see what they allow you to put down, and then you put down that amount. Don't, if they say $49, don't send them $200. Um, send them exactly what they tell you to put down.
Now, this credit card also graduates in six months. So that means make sure you keep paying your bill on time. Make sure you're not maxing out your credit card or going over the limit and holding the balance on it. Make sure, if I were you, what I would do is I would use the credit card and I would pay the full statement balance by the due date, or I would just make sure that there is nothing reported, or probably $5, but I have to make sure I pay that statement balance regardless so I don't have to pay interest. But make sure you guys, uh, pay that full statement balance. And then just make sure, like your other accounts on your credit reports, you don't have negative accounts or you don't have, um, late payments on your other accounts because in six months, they're going to graduate you to a normal, their regular unsecured credit card, the Capital One Platinum credit card.
Not only are they going to graduate you there, with the graduation, what they do is they give you your money back. And then also, not only to get your money back, whatever you put down as your deposit, they're going to give you an increase. So definitely try to, um, just keep your account. Don't try, just do it. Keep your account in order so that, um, you guys can have the option of graduating because that's where you guys want to.
Now, comment below if you ever applied for this credit card, if you ever had this credit card in general. I tell you all, um, plenty of times if you watch my other videos, like, um, one of my first credit cards was the Capital One credit card. It was a Capital One Platinum and Quicksilver. I really love them because as soon as you add the money, um, at least at that time, soon as you add the money to that account, the money is available right away, um, just in case because it came to a time where I had to try to balance my credit, so that was perfect for me. Um, I like that they reported to all three credit bureaus. That was really good because it helped boost my credit score. And then they have so many other credit cards you can get, like business credit cards, which I actually got also. So definitely let me know if you got this credit card. Go ahead and leave it down in the comments and let us know what your credit scores were or how is it going with your account.
Now, this secured credit card, it does not have any rewards, but what it does is it has no foreign transaction fees. So if you're using this outside the country, you're not being charged any additional fees. Sometimes they can charge you 3% or 1%, um, for those foreign transaction fees, but they don't have it here. And then they also do, they don't have any annual fee at all. So for those people that's looking to really build their credit, um, maybe you're just now starting off, or, um, maybe you never had an account with Capital One, then you want to try to see if you can get a secured credit card with them because they graduate, and they don't have an annual fee. Some of these credit cards have annual fees of $100 and something dollars, like a lot of money, $150 for annual fees when you're trying to build your credit. Now, this one doesn't have that annual fee. So definitely see if you can pre-qualify for it.
Now, the links for this credit card and all the full blog that I created for this credit card is down in the comments and in the description. So definitely check it out. If you guys get approved for it, come back and let us know. Like, we all want to know what happened, like what's your credit score, what they actually put down, like come back and let us know all the juicy details. That's how we all grow. Like when I tell you guys different things, I can go back to older comments to say, hey, this client said this, this person, that's the subscriber said this, and it helped you. So make sure you do the same thing. Pay it forward by coming back and let us know, um, if you got approved for this card. But definitely check it out in the comments and description so you can have the links.
Now, like I said before, you should love that they report to all three credit bureaus because then reporting to all three credit bureaus is going to boost your credit score. At least it should boost your credit score. Now, the key thing is, it's not only that they're reporting to the credit bureaus, um, you want to make sure you keep your balance low because if you spend too much money on this secured credit card, it's only $200, then your credit, um, score is going to be even lower because you did the wrong thing. So utilization is a major thing where, so for like this credit card, it's a $200 limit, right? For this credit card, I always tell people, don't spend more than 5% on a credit card, especially if you know you can't pay back, like if it's going to be hard for you guys to pay it back. If you're trying to build your credit, don't spend more than 5% on your credit card or let them report more than 5% because if they report more than that, then it's going to hurt your credit score. If it's over, it's going to hurt your credit score. To me, you're not going to have the best credit score. You can have anything over 30 is actually going to hurt it. But to me, if you're trying to get the best credit score you can get, if you spend more than 5%, then you're kind of hurting yourself because you're not getting the best credit score you can get.
Now, so $200 limit on this credit card. So I tell people, don't spend more than $10, or let $10 be reported to the credit bureaus. When you do that, you're going to see a big increase in your credit score. That's how I'm able to have those different results pop up with like clients. They have like huge increases. That's because the utilization is in order. So make sure you guys keep your utilization in order, and you guys can see a great increase in your credit score.
So, like this video if you love what I said so far, if this is giving you a lot of value information, make sure you guys like this video. And also comment below, um, let me know if there's other credit cards that's kind of similar to this that you may know of. Um, sometimes people were like, oh, this sounds like this credit card, or this sounds like that credit card. Um, make sure you guys comment below to let me know like what other credit cards you think is similar. Like a few examples for me, I would say this is similar to the Discover Secured because it also graduates, just like this one graduates. And also, it's similar to, um, the Navy Federal Secured Credit Card because it graduates, just like this one graduates.
And let me know also if you guys are having problems like getting approved for any of these credit cards because a lot of times what you guys need to do is you need to make sure you don't have any negative accounts on your credit reports. So see what's inaccurate, dispute it, get those things removed from your credit, um, reports, and then you have to figure out which accounts, which credit cards you can apply for to boost your credit score up.
Now, I do have my exclusive membership that helps you all with this process. Um, I have so many dispute letters that you always can use to work to remove those negative accounts, collections, charge-offs, bankruptcies, foreclosures, those different things, um, so you guys can remove it from your account. And then I also have all of my reviews, my credit cards that I talk about inside the exclusive membership. I either have a list of something, what I call my mass credit card list. It's over 100 credit cards. I'm in that list. You guys can definitely get that list. And like I said, within that list, you guys can find some type of credit card that can help you build your credit. But definitely look in the comments in the description and sign up for my school membership because it's only a $1 trial for you guys to start off with the membership. So definitely check it out and let me know if you have any questions in the comments.
Capital One is not the only credit card company out there that can approve you for credit cards. There are so many other credit cards that can pre-qualify you without a hard inquiry, and I love for you guys to try to see if you can get pre-qualified for a credit card without a hard inquiry. So definitely check out my website, check out my blog, and see which other credit cards are on there that may be best for you. I have a list of credit cards that's similar to this. I have a PDF that you guys can download, and it's free. You guys will be able to download this free PDF, and it'll tell you three similar cards that's just like this. It'll have the link there so that you can actually apply for those cards, and it also tells you a few, just a few rundown, like, um, the things about this card, and that's basically what it is. And you guys can take this PDF and see which other cards are similar. And if you need four credit cards, I can always tell you guys. Should I have at least four credit cards? You guys can go ahead and look at those other credit cards and see if you can get approved for those also.
Now, that's going to help you boost your credit score, build your credit. But make sure you keep your balance on these credit cards and don't have any late payments. Try to set them up on autopay if you can because if they report a late payment, you guys, y'all just don't understand, your credit score is going to get messed up. So do not let them report a late payment. Make sure you're auto-paying, you're paying all your bills on time. Okay?
And then check out these other videos here. Sometimes YouTube thinks that, you know, these cr, these videos are best for you. So try to see if any of these videos you may like, and any of these credit cards you may like. And I'll see you guys in the next video.