When to Cancel Your Secured Credit Cards | BeatTheBush

Did you know having Secured Credit Cards on your credit report can negatively affect your credit score? Secured Credit Cards are a big giveaway for previous poor credit. No one will extend you real credit and so you had to pay money in order to obtain a credit card. So with my methods of improving credit, be sure to cancel out your secured credit cards in a good transition so that you can further increase your score.

How’s it going everybody does this beat the bush today i’m going to talk about the importance of canceling all your secured cards and leaving only the unsecured credit cards if you want to improve your credit score before we begin i’d like to tell you about this fm transmitter from a mere actually worked out a deal with them where you can actually get a 40% off

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Bush diy i’ll leave a video link over here you may not have any credit history at all or you may find yourself with a really bad credit score so bad from a bankruptcy or some other event that you cannot even get a secured credit card in that case you may have to find yourself needing to build your credit without starting off with a credit card or a secured credit

Card at all do this by getting a self lending loan or getting a credit builder loan from your local credit union i’ll have more information in this video that i’ll leave over here now not all people have to exactly start off with a secured card you might think that everybody since they start off with no history that they actually have to get a secured credit card

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And build their credit up from there for me i actually got added to another person’s credit card and i use this for several years before i was able to apply for my own credit card so i actually never had to get a secured card in the first place i just jumped right to an unsecured credit card and i got my limit increase and i went from there however if you started

From no credit or really bad credit maybe you improved it through a self lending loan or credit builder loan then your credit score might be anywhere below 550 now once you get the secured credit card then you’re trying to use it wisely my recommended method is to max out this credit card most people will go oh yeah you should keep your utilization low but this is

Not a good way to try to improve your credit limit if you have a $200 secured limit credit card if you spend it all the way up to the limit and pay it off every single month you’re going to go oh my gosh you have a really high need for more credit so they’re going to eventually approve you if you ask to get a higher limit however if you get a higher limit on your

Credit card you actually have to pay more money into it because it is secured after all so maybe going from a $200 secured credit card to $500 you have to pay another $300 in so that you can have that limit i generally do not hear of people getting a secured credit cards above $500 generally the limit is around there so if you find yourself needing more limit than

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That is probably the time for you to get an unsecured credit card the time to apply for an unsecured credit card is probably around a credit score of 650 or above once you reach your scores you want to apply for unsecured credit card like a discovery credit card where the press holds for credit requirement it’s a bit lower then what you do is you’re going to have

An unsecured credit card and maybe one or more secured credit cards try to use your unsecured credit card some more you max out this unsecured credit card not by spending more than you have to of course and then while maxing out this credit card you may want to pay off this credit card before the statement date this is a little bit tricky and i’ll explain this in

A separate video i’ll leave over here now after maxing out this credit card without actually have to force yourself to spend more and then you pay it all off you do this for several months in a row they’re going to look at this and then go all getting we need to increase your credit you may even call in and ask there’s no penalty for asking so you can just try to

Call in every single month if you want to eventually if you started off with a $500 unsecured limit they may increase it to one thousand thousand five hundred two thousand and this is your path to getting a better and better credit once you use your unsecured credit card responsibly for maybe six months to one year you’re not going to really touch your secured

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Credit cards anymore you may actually want to cancel out these secured credit cards even though you have maybe one or more years of good credit history with them because the fact that they are on your credit report means that you used to have really bad credit so eventually cancelling out being secured credit cards is just as important as keeping a really good

History with your unsecured credit cards i hope this video helps you guys plot a good method from transitioning from secured credit cards to unsecured credit cards and hopefully improving your credit score don’t forget to give me a like on this video comment down below let me know if you’re in the process of turns from what secure to unsecured credit cards if

You’re interested in supporting yourself don’t forget to check out my all the bullying done in a video description below where you can actually get a free audiobook and if you don’t like the audiobook or the service you can actually cancel it before the trial period ends and you can still keep this free audiobook and you can still help in s at this channel if

You’re into video games i also have a 30 day free trial pregame flag down below it’s kind of like a netflix for video games where you can rent out a free game you can actually try out a free game for 30 days and if you don’t like the service or the game you can cancel it and you will not think i also have a patreon over here and don’t forget to subscribe thanks for watching

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When to Cancel Your Secured Credit Cards | BeatTheBush By BeatTheBush

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