How To Get Approved For Your First Credit Card

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hey guys just a credit card maestro and

today I wanted to talk about getting

your first credit card you can be young

you could be old does not matter I

really wanted to talk about this topic

today I get a lot of questions on people

who may not have credit cards again you

can be young you can be all it has no

age requirement I'm gonna give you my

experiences on how I got my first credit

card how it benefits me today and how

you can get approved for your first

credit card - I hope you guys are

excited for this video let's get into it

so the first thing I always like to do

is I like to have a game plan right I

want to make sure that we solely meaning

you or me

the person in this situation or the

person who wants to credit card we are

ready to get a credit card it's a

commitment it's dedication you have to

really be punctual if you really want to

have this credit card work for you and

so really improve your score so let's

make sure we're ready we're committed to

getting a good credit card and you know

making sure that we're really ready to

do everything that we have to do to

maintain a good relationship with the

bank that we're gonna lend from because

this is a relationship so that's the

first step making sure you are ready if

you are committed that's that's a really

good step the second thing about being

ready is we want to make sure we have

some income coming in you can't have a

credit card without any income coming in

typically banks want to see income from

yourself so if you're employed if you're

young I know people who are younger are

in school so it can even be part-time

full-time some type of income coming in

generator from you if you are signing on

the credit card by yourself meaning that

nobody else is going to be on their

credit card with you so let's just make

sure we're ready for the commitment make

sure we have the income to get the

credit card definitely an important

factor if you don't have the income then

there is no way that a bank will be able

to approve you for any credit card

because you have nothing to pay the

credit card when you swipe now there

they don't want to make sure you are not

a risk to them and their money so income

is very important so here is my story

with credit cards when I was younger

about to say age 20 to 21 I was always

trying to get you know my own phone plan

looking at cars first the first time by

our car and I would never have any luck

getting these things because I didn't

have credit and for example that's a

cell phone carrier I try to get they

approved me for a lot of credit but

because I didn't have any credit I'm

sorry they approved me for a phone line

but because I didn't have any credit

history I had to pay the full price of

the phone they did not trust me because

I didn't have any credit history and I

know everybody says well I pay my bills

on time if that doesn't reflect on your

credit score or if you have no credit

it's not going to show up in our system

it is what it is unfortunately even if

you are somebody who pays all their

bills on time if it's not improving your

credit score there's no history to it so

that's the downfall to it but we're here

to fix that we have a way around that

that's my story I obviously found a way

to get around that and I'm happy to

share this with you so let me get into

the two options that I definitely

suggest when getting your first credit

card my favor one to be honest

is secure credit cards I love the

secured credit card method it is good

for you and is in your best interest it

is good for the bank and it is in their

best interest a secured credit card is

just like a credit card you won't be

able to tell the difference between a

secured credit card and a regular credit

card so there's no shame with walk

around with this card I actually took

out a secured credit card my first time

because I had no luck with any other

credit card companies nobody wanted me

because I didn't have any credit history

you give them a deposit down of what

they're asking for so that's safe for

example they want $300 down and they

will give you in return so what you

would do is you would give them $300

they will put that $300 in a savings

account that you cannot access and your

credit limit will be $300 so typically

some of the credit cards they'll say

okay give us 200 or more and whatever

you give us will match you that on a

credit line so if you give them a

thousand dollars they're going to give

you an a thousand dollar credit line now

for the four six months to a year you

are using that card against an under 20%

and honestly when you got a secured

credit card I'm even saying stay under

10% put a very

purchase on that thing go to Subway

wherever you eat McDonald's chick-fil-a

wherever you eat one like a $5 to $10

purchase and pay it off and fool and

don't do that again until the next month

just do that and do that do that I was

making very small purchases gasps for

$20 a month I was just putting on my 20

bucks down for a month and you know

beautiful and after a year my credit

score I had a pretty decent credit score

was very surprised I was in the 700 just

by only putting a $20 purchase a month

down it kept my utilization definitely

under 10% which is extremely good and I

was paying my bill on time they they

were amazed they loved it they extended

me an offer for a better credit score

and then they give you your money back

so after that year six months to a year

we call it graduation they give you the

money back that you gave to them and

then they gave you a credit line for

that amount without the money so they

trust you now so now they gave you a

unsecured credit card okay that's what

it's called an unsecured credit card so

that is my favorite option there's a

couple of really great secured credit

cards I'll kind of put some of the

credit cards that I like the secured

credit cards down below for you guys in

the comment sections and all that so you

guys can read it my favorite credit

cards really a great option the second

option is student credit cards now I

know everybody watching this video may

not be a student so this is more aimed

toward students sometimes again I didn't

have any luck with it but there are some

credit cards that give you you know an

advantage of your student they know you

are in college you may not have the best

credit score they want to help you okay

so they're going to give you a credit


with probably a small limit just to get

you started

interest rate may be a little higher

than normal and then to get you going

they kind of aim towards people with no

credit or very small to no history so

I'll put some you know some of those

down low as well for you guys there's a

couple of student credit cards that I

really recommend my favorite is the

Discover card so I would definitely

letting you guys know what that one is

those are my two options for credit

cards and that we went over at the two

options on getting approved for your

first card let's go over what we need to

stay away from okay we need to stay away

in my opinion from retail cards retail

cars for example let's say any retail

store you may like in the mall they may

have their own credit card stay away

from those in my opinion I don't like

those cars they are really high when

interest rates typically 29 to 30

percent when a average credit card may

vary maybe 17 20 % there are 30% okay I

know it's really it's something when

you're at your favorite store male or

female store and you know they're having

a sale and then they actually get the

credit card and you get another 25 you

know 10 to 25% off if you get the credit

card and all that good stuff it's very

tempting but you're going to get ahead

of yourself possibly I don't want you

guys to get into the you know that gotta

have it and then you're maxed out and

then you got a high interest rate and

you know your back a square one again

so stay away from retail cards another

card that I want you guys to stay away

from there is a card call an ominous you

know so you have Capital One they have

this card its credit one and I got this

offer two back when I you know didn't

have pretty much any credit you had to

pay interest

typically you pay interest after the

month is over I believe you paid

interest each day okay it's really crazy

a bunch of fees just I don't even want

to get into it if you guys want to know

more about that card you know we can if

you want just let me know I can do a

review on that card but that card is

just not I would never ever suggest that

card it's a credit one card from credit

one bank

yeah I'm not bashing a company you know

they're out there and they're doing what

they're doing and aiming towards people

who have little to no credit but I just

think the way they're going about it is

wrong and that's just my strong opinion

on that so definitely in my opinion I

would stay away from that card even get

that offer don't go down that road I

gave you really two great options best

option in my opinion secure credit card

teaching yourself how to maintain your

utilization and you're giving the bank

the option to actually trust you giving

them that you know that chance to trust


okay so those are my two options guys I

really hope you guys enjoyed this video

if you have any more questions maybe

more personally towards you I'll be more

than happy to answer those questions

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a week or more I want to thank you guys

for tuning in have a great day