Credit Card Unboxing | INCREASE Your Credit Score FAST

Today, I am revealing the credit card that increased my credit score by 79 points after only just one month of using it. Enjoy!
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Credit cards are a great tool to use to help build wealth - if you use it the right way. With proper use, a credit card can build your credit, help you travel for free, give you amazing perks and so much more.

There are credit cards out there like the Chase Sapphire Reserve, Apple Credit Card, Credit Cards that accumulate points for airline travel or rental cars - the list goes on.

But, what do you do if you want to take advantage of these cards, but you can’t because of poor or nonexistent credit? Well, I know how you feel and I can tell you how you can start taking advantage of these perks by building your credit!

You see, I started building my credit at only 16 years old - I got my first credit card at 16, got my first car loan at 18, and by the time I was 21 years old I had qualified for a $330,000 SBA loan. I had all the credit card perks, from hundreds of thousands of airline miles to a week's worth of free hotel stays. But, in November of 2018, I lost my business due to a fire, and as a result, I lost my income and my business revenue but I still had to pay for my expenses. My personal expenses as well as my business ones like payroll, vendors...etc. As a result, I used credit cards to pay the bills and though I was able to pay my obligations, I destroyed my credit in the process.

Now, the destruction of my credit only lasted a few months, and within a couple months I was back on track financially for the most part - but the aftermath on my credit has lasted over a year now.

So, after doing a lot of research on the topic of restoring and fixing credit I found that a crucial piece of the credit puzzle when it comes to improving your score is to not only avoid hurting your credit, but you also must put good credit on your credit history.

This means using credit cards in a healthy way, paying down a car note, paying off other credit lines...etc. You can’t avoid credit to improve your credit!

So, what I did, was I applied to a few different credit cards - but, because my credit score was so poor (497), I didn’t qualify for most credit cards, and as a result, I had to apply to a secured credit card.

A secured credit card is a credit line that is guaranteed with a deposit. Meaning, you get approved and before you can start using the card you have to put a deposit down. Some deposits are $50 some are $250 - but once you put the deposit down, this is your credit limit. The credit company requires a deposit in the case that you do not pay your bill, they can use your deposit to reimburse themselves.

So, I signed up for and was approved for Discover It Secured MasterCard. This card has no real benefits, a horrible interest rate and it required a $250 deposit.

I applied for this card in January of 2020 and by the time I received it, it was late February - By the time I actually started using it, it was March. So, as I record this I have been using the card for just about 1 month - paying it off in full at the end of the statement period.

In the first month of use with this card, it increased my score by 79 points! My score went from 497 in early 2020, to 576 in just about 1 month's time.

So, if you are someone who wants to build their credit or restore their credit, I would highly recommend that you check out a secured credit card like the Discover It Secured MasterCard. With proper use, it can absolutely help you grow your credit score!

I hope that you all enjoyed this video and I hope it gave you insight into ways to potentially grow or improve your credit score. Make sure to like and subscribe and I will see you in the next video!

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I am not a CPA, attorney, lender, or financial advisor. The content in these videos should not be construed as tax, legal, or financial advice...etc, and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a YouTube video for entertainment purposes ONLY. IF stocks or companies are mentioned, Aubrey may have an ownership interest in them – Please do not make buying or selling decisions based on Aubrey’s videos. If you need advice, please contact a qualified professional.

Видео Credit Card Unboxing | INCREASE Your Credit Score FAST канала Aubrey Janik