You made some mistakes in your life but you know you you've turned into a leaf you've been watching my articles and you ready to get your credit back on track right or maybe you just getting started and you don't have any credit.
The problem is these companies are stingy by the end of this video you will see the credit cards that work best for people with terrible credit or no credit at all.
Be sure to stick around to the SU can see cards that are unsecured which means you can apply for any money down.
Welcome back I am here to teach you all the things that schools should not teach you about money but she was a super civics class. Be sure to subscribe to that I talk about everything from personal finances to investing to the economy and I get straight into it.
I mean processes by saying to not apply to these credit cards just to make yourself even worse off right. I'm not telling you this so you can go get a credit card and go buy the iPhone 11 12 13.
Remember that if you have bad or no credit card companies make the most money off of you right.
People who have good credit are not that profitable because they normally pay their balances off in full and they don't pay any interest. They're getting the money off people who are not so good and who are not so responsible so stay woke.
But please if you haven't already watched this article here about your credit score. You can have a full idea of what you're dealing with one more thing.
A pro tip does not apply for a whole bunch of credit cards back to back at the same time. You gonna look desperate you will get curved. Alternatively, you can get pre-qualified and don't actually pull your credit and then they'll let you know what you are actually eligible for it.
Secured Cards
Let's start with secured cards as the name implies it's secured you have to put down a deposit. A lot of times it'll be like maybe $99 or a couple $100 and that's basically going to be your credit limit.
So somebody requires three hundred dollars down your credit limit will be three hundred dollars right because there's no way they don't really have many risks.
Let's say you don't pay well if it was your deposit. Even after six to eight months or so normally companies will automatically review your account. See if they can take you off of the secured status and give you your money back.
If they don't do that you can get all up and make me seem like listen I need my dough okay. I've been paying on time and then obviously to get your money back it's no longer a secured card and you can work on getting your credit limit increased but still spending responsibly.
The Capital One Secured Card
The Capital One secured card is the first part we're gonna talk about. Based on your credit score the deposit amount will vary but it does go as low as $49 and was is $200.
The interest rate is 26.99%. I hate when people do that like just give me 27. You're not fooling anybody. I don't feel like I'm saving anything because of that little 0.1%. You know keep it real with me.
If you make your first 5 payments on time they will evaluate your account to see. If you can get a credit limit increase. What I do a couple the ones that there are no foreign transaction fees have you ever tried to travel with a debit card.
Maybe you don't get charged at least straight out of this okay there's also no annual fee which is great settings are a free card and if your credit score is even as low as 300 they won't work with you.
Discover it Secured Card
There is no annual fee and they go as low as 300 which if you didn't know 300 is the absolute bottom of the bottom of you everything that is the collections, young patient.
The initial interest is 10.99% for six months which is really good. Take the time to see if your other cards have a higher interface you could transfer that money over so you can save a little bit on interest.
After that period of time, it goes up to 24.99%.
Unsecured Cards
As the name suggests you do not have to secure this. You can just apply for these cards no money down and get your credit limit.
Well please please please I urge you to do your own research and make sure these cards are a good fit for you don't just blindly apply it because you heard it going Google talking about it.
Capital One QuickSilver
Anyway first on the list is Capital One QuickSilver credit card. This card actually has cash rewards the interest rate is 26.46%.
I don't like about this card is that it does have a $39 annual fee. They run our annual free it has a 39 dollar annual fee which means it ain't free but if you're looking to increase your credit score with a reputable company this is a viable option
Honestly, I think you pay that fee because the interest rate is fixed now most credit cards have a variable interest rate which means it's gonna go up.
Don't get it it will be going up but then the integer is almost 30% but go off then. After 5 months famous you should be eligible for a credit limit increase for this do need an average or a fair credit score so no 300s.
Capital One Platinum Card
This has no annual fee which the fans love and again with this one is 26.46% with the interest rate but it is variable.
If it shoots to the stars for all we know all right so let's wrap this up basically there are options on here do not so discouraged.
If you do have a crappy credit score you can work on it and you can't improve it I feel like we've all had to be there, in the beginning, starting from nothing and building it up.
