Credit Card Levels For Scores 300 - 700: Capital One, MyFICO, Ultra, Bankruptcy, Amex, Business

[Music] [Applause] [Music] hey guys thank you so much for watching this video please give us a call if you guys are looking to improve your credit score lower your car payment buy a car trade in a car if you're looking to purchase your first home if you're looking to purchase of rental property we can help you give us a call today eight seven seven two zero five seven seven seven one talk to you guys soon and thanks again hello everyone this is Calvin Russell CEO found of 850 Club credit consultation I hope everyone's doing well today today we're gonna talk about a long awaited video that I wanted to make sure I put in in presentation format that way it's a little bit easier to understand and I'll try to make this as quick as possible for those who know me I most definitely can go quite some time so let's get straight into it alright so today we're gonna go over the credit-card levels or tier level as something like the X or call it four scores that are between 700 and 300 okay so don't worry we're gonna break it all down you know starting at the 300 level so let's get straight into it if your credit score is anywhere between 300 and 580 you there are a few credit cards that's going to be very key upon your credit card building journey okay and I tried to break it down as best as I could from most important to least important I'll break it all down as much as possible so if your credit score is anywhere between 300 to 500 I recommend applying for the Capital One platinum credit card unsecured first okay I know what you're thinking Calvin no there's no way I'm gonna get approved for this card and I've seen scores as low as 470 get approved for a Capital One platinum credit card you'd be surprised and an unsecured everyone's credit score is low for different reasons some people's doodle ization some people's a bankruptcy a repossession you know bank you know whatever the case may be everyone's situation is different credit scores are not necessarily low all the time because people have had you know bad credit card experiences you know as I mentioned everyone's situation is different so it never hurts to apply anyway also if the score is that low trust me a couple of points won't play that major role you know in trying to get that credit card the reason why I recommend going this route is because it doesn't cost you anything okay because normally when your score is under 580 you're about to spend some money just to improve your score not big if you were put a company know like 850 Club or anything like that just because you know a lot of platforms that are out there they're gonna want some type of skin in the game and again I know that there's a lot of non traditional credit card I'm sorry credit building accounts but for this we're just gonna talk focus on credit cards only so I always recommend crap a little classic rapid old one capital one platinum credit card unsecured and again is gonna be the best route to go because it doesn't cost any money okay if we don't get approved for that I recommend going with Capital One secured credit card now I know there's a lot of options but let me break down why I wanna go Capital One mainly because Capital One has you know they have secured options where they run your credit of course and that determines you know which deposit amount they want you to go with one now wants to go with but of course you know approved you for and I don't know people notice but eighty percent of the people they get approved for a forty nine dollar deposit most of them never even try to apply for a capital one unsecured no credit card because eighty percent of them can actually get approved for that so it's gonna keep that in mind if you ever got approved with you know capital wants to cure credit card and instead if it's a $50 deposit I strongly recommend putting the application now of course assuming you didn't do it backwards you know so but some people know they put it in the application for a secured credit card first and never even thought that they could get an unsecured credit cards you'd be surprised but that's their first here the second tier is $100 and the third tiers $200 again there is a credit check so as a possibility that you may not meet these qualifications okay the reason why I recommend Capital One is of course you can add authorized users up to five authorized users at no additional charge there's no annual fees and no things of that sort now I know that there's some other credit cards out there which we'll get to in a second and while I don't recommend starting off with those right off the back okay then number three credit one a credit card that's also unsecured I think that a lot of people forget that credit one actually doesn't soft pool now there's a lot of little fees that I do not like with credit one that they charge a non usage fee that means if you don't use the credit card they're gonna charge you in between eight to twelve dollars a month just for not using it anytime you want to add an authorized user to the account they charge you $30 per authorized user and then of course you also have an annual fee and then you also have you know there's no automatic payments with credit one you know there of course there's an annual fee so a lot of people if I old man why would I get this card well simply because it's an unsecured card and who knows you may have had a capital one you know you know an account in the past and that's another thing I'm gonna touch on a little bit towards the end is that you know everyone situation is different but if you've had a bad experience not a bad experience but if you had a bad account you know with Capital One then of course we can't go with Capital One and credit one may be our only option okay so moving forward number four OpenSky credit card now this is actually the opens guys are secured credit cards automatic approval no with $200 and of course you need a bank account okay I mean need i say more i believe there's a $35 annual fee you cannot I repeat you cannot add authorized users that kind of that part kind of sucks either way it's an automatic approval with open Scott and again you may have had you know bad credit because you had a capital one and a credit one account at the same time probably or either/or and things that go where you wanted them to okay so Green Dot visa security credit card I recommend this one because there's no credit check and there's no pic account needed but again this is like option five this is the bottom not the bottom of girl but this is like the last option mainly because again as and you'll see there's no credit check no fake account needed and you're probably like what stood between gonna open sky and Green Dot it outside of that having a bank account which most people normally do anyway there's really no difference I don't necessarily see you know because they're still gonna cost two hundred dollars but again Green Dot may be a better option for you if you you know because there are some people who apply with you know open sky and things they go the way they wanted to and great dye might be like you're the last of the mohicans because there is no credit check or bank account needed and of course the minimum is two hundred dollars okay now let's talk about why you want to stay away from dispute discover secured credit card my personal recommendation is to you want to discuss one of those banks that you really want to wait until you start getting your stuff together granted you can't get a Discover credit card you know paying on it for a few months and then they transition you over but a lot of times they make that transition the limit is very low that's number one then number two even the limit is not low you know of course they do a credit check is will to you know just little things like that that player no major role because I rather people get a higher limit later than Alliance let's talk about it you get a better no limits when the scores are above six sixty and you don't have to worry about having you know and you don't have to have a Discover card okay so here's a problem I've never seen a person get approved for a high limit credit card such as Discover card right and have an open secured credit card because they don't approve unsecured you know Discover card if you have open security okay so this just keep that in mind you know doing the credit card Charlie let's go to the next additional cars to dismiss on that list is gonna be first premier credit card I mean this because of all the fees and don't feel bad if you guys have opened any of these accounts and is it a different order it's not the end of the world just make it them today as long as you you know you know use the credit cards like you're supposed to you'll be fine okay so first premier credit card don't like him just because of all the fees first progress credit card same thing all the fees total visa card unity secured card Citibank and most job by banks now I know you're thinking well man Citibank I got something in the mail you know and they actually do a secured credit card yeah but again the problem is that a lot of these companies don't want $200 I don't want 300 and so on so for a lot of these companies do credit checks you know so again if the if we have to put in an application and our score is like in their brainy is more than likely probably to get it you know prove if there is a credit check okay and it costs most drive by base so those things that you drive by by paying say you know like I don't know it everyone's in a different area so everybody's think it's gonna be different because and the reason why I bring that up is because most of those things which they put down at least $500 for a secured credit card you'll be there okay if the credit scores anywhere between 580 and 650 okay again now we're gonna start off with Capital One platinum credit card why is that well this is usually capital ones is that this is their best range this is what they're known for in the marketplace and you know in this particular school range they usually give no limits anywhere between three to five hundred seven fifty to a thousand they've been knowing you know no credit card history and credit report history and things of that sort number two Capital One platinum preferred card this card actually just came out and this Oh what I like about this card is that used to get all the benefits of a capital one card but now you get that balance transfer opportunity and you don't necessarily have to worry about you know going with you know any other no card because again it doesn't mean a lot of cars is gonna come into meal but you want to make sure it's not what that list I just gave you okay and again this is a great second you know a great card to have you know on file number three it's gonna be the Avant credit card and with the Avant credit card of course you know there's gonna be a soft pool that's the one thing I like about it is that it doesn't affect your credit score and then of course they are proving everyone you were between five hundred two thousand dollar limits and you know have it five hundred two thousand dollar limits plays a major role because you know usually when you're just starting out building your credit note whether it's in this range or the range before a lot of those no limits are gonna be around about three hundred dollars so you know we want to start off with a nice living with seen between 500 to a thousand and again as I saw pool so that means if you know get denied it won't affect your credit score number for credit weren't you know credit card of course it's still soft pool unsecured and you guys are numb everything I'm saying before and again this is an option you know if you probably have a hand or I'm sorry if you probably had a capital without platinum credit card in the past you know but things probably go to what you wanted them to you know so again everyone's situation is different credit one is not horrible just like indigo and it goes a great car to these cars at the bottom of the list just because I don't like the annual fees and I'll just random and stupid fees that they charge but you know if you're looking to build your score and then you know this is what we have access to and things didn't go that well with Capital One things can go that well you know with other credit cards and then we baby painted into a corner what we have to work with what we know what's coming in the mail okay there's nothing I want to bring them to when you start being in that range because again a lot of people could be in 650s 600 due to utilization or you know being authorized user' a lot of different factors so I want to point something out just because you get possible offers of bigger brands while you're probably in this range more likely like six thirty above six fourteen above American Express Citibank Discover Bank of America sedima etc those limits who are better when the score is a lot higher so just because you can get approved does not meet you put the application in that's what I call a good credit problem where people start getting all these letters in the mail and not sure what to do and of course they just know start taking you know any and everything you don't want to do that okay and then last but not least a credit score between 650 and 700 now this is what a big dog come in that okay usually when the school is around this range you're gonna start seeing men form American Express I recommend the American Express blue cash everyday they also got the cash magnet as well too but this one's been a little bit longer and again I recommend 680 to 700 I've seen people get approved like around 650 660 but again it's not just about getting approved we're now transitioning to the next phase of credit right here the next phase of credit is where you as truck you know the old phase was you was trying to get approved now the new phase is yeah I'm gonna get approved but what type of terms will I get what type of limit am I gonna get you know so what's the benefits of having this credit card that plays a major role number to chase slate shaitaan' of course j3m Chase Freedom now here's a deal a lot of people have been some of what they call the 524 rule where you know you want to you don't want to have any more than five increase in the last two years I've seen people get approved for Chase credit cards and they had you know more than those they know particularly you know enquiries it's more so how you use the account and how you use the card and there are a lot of people that are happy you know because of that so but either way discover cashback match that's another great card as well - and again a lot of these guys will even have you know annual fees Bank of America BankAmericard I'm actually not sure if that has an annual fee or not but again you know is always a great option then of course Capital One preferred and Capital One platinum you're probably like well why do you have these on there well listen don't forget about Capital One Capital One if asked or if a person has a score around this range and they don't have a Capital One car now chances are you know they're gonna give you a fifteen hundred to two thousand dollar limit just to kind of get things rolling you know so but again everyone's situation is different and you know depending on their history like that person's credit history that plays a major let's talk about other factors number one being an authorized user plays a major role when you have a relationship with that bank for example if someone need to let you be a part of their Chase credit card and as an authorized user over time you've built a relationship with that bank and so now you know your name your social your date of birth it won't be unfamiliar you know you know when you actually go and apply okay number two if you've had a previous bankruptcy you know that plays a major role some things don't like you know how recent bankruptcies are charge offs for example if you had you know a charge on for Bank of America they're more than likely not gonna be doing business with you right oh right off the back if that makes sense and in the course previous account history if you've been late on certain things you know that plays a major role and especially those weren't that same company of course the next one will be income and let the credit history I mean it's pretty self-explanatory you know if you make a certain amount of money you know that made it turn me know what type of big know what type of you know limits that we're gonna be getting you know along the way and then of course lint and credit or credit history a lot of people have started you know credit when they were like eighteen someone who knows 25 everyone situation is different so the longer the credit history the better everything is gonna actually be then of course increase coming in courage do you have unless you know two years that plays a major role and of course current account history so let's say for this is normally if you're gonna fall into installment accounts so for example if you have a mortgage with let's say Citibank in more than likely if you didn't use that account properly they're not gonna approve you for a Citibank you know you know credit card personal loan student loans and auto loans as well to all that plays a major role so I would tell people all the time you know if you have a current like auto loan you know something like that way any one of these banks you want to try to refinance as soon as you can it's because no life changes things change and you know and things around people change so you gotta make suit so here's the deal hopefully that video was helpful if you guys like it like it if you want to share it share it and as always be sure to subscribe because we had another great concert on the way but some people they're looking for a little bit more some people looking for credit coaching and we can help you with that you know of course we have you can give you credit card comparisons and how-to and I don't know how to use a credit card properly and how to use it in a certain way but you can start you know qualifying for you know high limits late no credit cards later down the line Dinah's a time for another credit card you know so we can help you with that comparison process you know as well and it last but not least you know credit card expectations a lot of times people they'll get a credit card they'll just assume you know that nor Olinda is gonna be a certain way or you know you know the perks are gonna be a certain way of the credit card we can walk you through that entire process so please give us a call today you can reach us at 877 to zero five seven seven seven one and I'm telling you that we most definitely can help you and of course if you need anything you know we always got more videos no well on the way but be sure to give us a call and if we want to happen to answer any questions comments or concerns that you have okay thank you guys so much and have a great day [Music]

Channel: 850 Club Credit Consultation, LLC

Views: 35,649

Rating: 4.7530866 out of 5

Keywords: FICO, credit karma, budget, good, credit, installment, loans, monitoring, vantagescore, credit card number, credit card debt, credit card, american express, business credit, my fico, dave ramsey, retirement, personal loan, ultra fico, economy, amex platinum, credit union, cash back, amex rose gold, administration, loan forgiveness, bloomberg, bankruptcy, capital one, chase sapphire, gold amex card, lien, amex, debt, secured credit card, creditkarma, interest rates, asksebby, brandon weaver

Id: y-dESAJH6zo

Length: 17min 34sec (1054 seconds)

Published: Fri Feb 22 2019