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hey everyone if you've been trying to work on your credit and you have barely been seeing any results you need to go ahead and take a look at the workshop that i just opened up that is currently free so that you can learn where you went wrong while you were trying to work on your credit during that lesson you'll learn the four don'ts when it comes to working on your credit the mistakes people make when writing dispute letters why you shouldn't only dispute with the credit bureaus and also the accounts that people waste time disputing not to mention you'll get to see real results from a customer who used my methods and they were able to get their credit straightened out and bought a brand new home within seven months so go ahead and sign up for that training today the link is gonna be down in the bio and while you're trying to work on your credit you have to see all three of your credit reports and scores and my score iq a company that i use for myself and for all of my customers has a one dollar seven day trial so you can see your credit reports and scores so you can know where you stand because you can't work on your credit without knowing what's going on on all three reports so please check out my score iq the link to them is going to be down in the description as well we're going to go ahead and start off with this secured credit card option and we'll save the 5 000 line of credit for last so as you can see here the open sky credit card is the secured credit card there is no credit check to apply so we're just going to go through the steps that they have here very easy very very straightforward personal information of course first last name email address um here they ask you for your actual address information if you have a po box put your phone number in right here like i said all pretty much straightforward when it comes to the financial security info of course they want to know your income and your monthly housing payment just like any other credit option and they give you examples here like this 35 000 annually in this 500 monthly housing payment so that's just an example using this example that is about 17 because of course they would divide this annual up into uh by 12 to get you the monthly income amount and they would of course survive your housing payment by that and that totals out to be about 17 of course anything under 25 percent is going to be really good so keep that in mind now they're going to ask you if you rent own or if it's a other situation like if you live with your parents or if you are in some other type of situation like that social security number twice to confirm ask you for your birthday they ask you for a security word when you're having so you can have a security question in case you were to forget your password when logging in and then down here in the agreement they explain details to you that are also important like your annual percentage rate which is in this situation 17.39 now a lot of other credit cards usually are around the 20 to 25 range so this isn't too bad and if you are concerned about the interest rate like a lot of people are just keep this in mind you only pay interest if your balance is held over 25 days so if you pay off your balance within 25 days you will not have to pay any interest at all so that's always important and i tell people that's what you should be looking at and not really what the interest rate is on a credit card because you can avoid it now you can also see there is a annual fee here so 35 annually a lot of credit cards like this for people trying to build up their credit do have annual fees so you might have to get used to that while you're trying to build up credit you'll be able to avoid that in the future once we get your credit score up so they also have fees for cash advances foreign transactions late payments return payments so you know this is all usual stuff there's also some other details and notices here so of course take a look at that just to get more details on what's going on most people don't read it but of course you should and of course you agree to the terms and conditions and then you move on to your security deposit now you can see here that they allow you to have anywhere from two hundred dollars to three thousand dollars as what you can put for your security deposit it is a deposit you are not um spending money on this card out of the amount that you put they're simply holding that money and how much you give them to hold that's how much your credit limit will be now i do tell people that higher credit limits are always better but when you're doing secured cards you have to tie up your money in order to do that so on secure credit cards i usually tell people at most try to be around five hundred dollars so that you don't tie up too much of your money especially if you just don't have the freedom money on hand like that now if you can afford to do it of course go ahead and go for a higher credit limit if you want to but this is not one of those secure credit cards that will upgrade you or graduate you after your credit score comes up so usually when that happens instead of them closing the card and giving you a new credit card in graduation situations they convert your card into a unsecured card and they just send you your money back so with this you would have to close the card in order to get your money back and that is another reason why i say not to tie up too much money if you don't have it now if you are a person that has very low money right now and you just trying to do something to start building up your credit the good thing is you can start for as little as 200 whereas a lot of other places want you to have at minimal like 300 to 500 now of course you figure out how much you're going to put down into that amount here you're going to put in again first name last name and the card number and information that you want to use in order to get them that money and then once you finish that you'll hit i'll pay my security deposit today or if you would like to fund it at a later date you can put it here but of course remember if you can't fund it right now you're gonna have to wait until you fund it to get your actual credit card and then you hit submit here and then they'll give you your approval and send you your card now we're gonna go back to the other option so we can see what else is available now here we have the unsecured credit card you can see this is the milestone card over here so you're gonna get pre-qualified over here which means you don't have to worry about a credit check while you're pre-qualifying yourself um but of course they will check your credit with a hard inquiry after you get through the pre-qualification because they want to actually see your credit report before they give a final decision and of course this one isn't the guaranteed approval so they do want to check your information just to make sure everything is good to go so of course i'm going to put some information in here and i'm just going to put some fake info in and now we're going to hit next and then they ask you for your address information you check here to agree and then you hear prequalify now and then they will let you know if you pre-qualify if you don't pre-qualify they will connect you with another company that they feel like may work with you usually a secure credit card so that is how this account works and also they have information up here on the rates in the fees that they do charge as you can see here about 25 percent interest rate as i mentioned most other cards are um 29 percent uh apr for cash advances and uh penalties now they have your other fees that they're gonna have here so you know this is a unsecured option though so you don't have to put in any money in order to get a credit limit but usually your limit on a car like this is going to be somewhere between um 200 300 maybe 500 dollars that they'll give you depending on where your credit score is um and usually if you're applying for this type of account you're probably in a low credit score state so you know that may be the limits that you'll see from them okay you guys i hope you found that information very very useful and i hope you're able to apply it like i said the link to those accounts is going to be in the description so you can check that out and be able to try to see which one you're gonna get or get more than one if you need more than one credit card if you have none i would recommend a person getting up to at least two or three credit cards to help build up their credit and if in addition to trying to build up your credit score you're also trying to work on your credit i'm going to send you guys to a video that is going to explain to you how credit repair works and what you need to do to try to get good credit if you guys have any questions feel free to leave a comment or if you know of any other accounts that are good to apply for for those with bad credit please leave it down in the comments to help some other people that may be in need of that information and of course i can share that information with my clients and those that i run into thank you for sticking with me for this long in the video i'll see you guys next [Music] time you