Now in this video I’m not just going to give you credit cards but I’m going to tell you about the three-way to build credit fast, without going to crazy debt and paying these big banks a bunch of money interest so don’t worry about that.

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1. Credit builder accounts
– These are usually loans that you make to yourself
– And then you pay them step by step and build a payment history which will then build your credit score
– So these accounts are usually just going to be to build credit not borrow money
– But it does come at accost of interest but nothing to crazy

Option I recommend:
– Self: this is for 24 months of consistent payments and then you get the money
– Digital federal credit union: but they do a hard inquiry so keep that mind
– Money lion: 12 months you apply for a loan, get some of the money now, and then pay off the full loan and get the rest of the money once your done

Tip: you can avoid the member fee by logging in over 20 days out of the month and using the debit card atleast 20 times a month for purchases of 10$ ( so to avoid it you have spend 200 and check you phone every day)

2. Secured credit card
– So these are credit cards that have a percentage of your own money inside them or all of your personal money inside it
– So for example, some lender require you to deposit 200 and they give you 200 and your credit line is 400, so as you spend you payback
– And then once you close the account and the balance is paid back ( you get your money back)

Here are the options:
– Discover secured card : its solid but it’s the hardest to qualify for
– Capital one secured credit card : easier to get accepted
– Open sky credit card: easiest to get but it has annual fee
– Chime credit card: by far one of the best, because its easy, you just move money from checking to the credit card and that’s your limit
– Self credit card: only works if you have a self-builder account and atleast $100 in your saving progress and 3 payments

So basically:
– Capital one and discover give you extra money
– But the others don’t

3. Credit Card that may accept you
– Apple credit card
– Chase freedom flex
– Capital one platinum master card

4. My lessons of credit
– Only use this to make it easier to deal with a lot of lenders
– Do not build a massive balance
– Do not use them

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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