Top 8 Secured Credit Cards That Graduate! - YouTube
https://www.youtube.com/watch?v=-dKqK-hXRN0

Transcript:
(00:03) [Music] what's up youtube welcome back to the walla monkey channel where we give you all the credit intel you need to grow your wallet today what we're going to cover is the best secured credit cards that actually graduate so this is updated for 2022 fresh data in your face let's dive into it okay so um just spent a sizable amount of time updating this and getting it all you know consolidated and put together for you guys because i think it's really really important so this page this uh best credit cards for bad credit page is
(00:35) completely transforming i'm excited i wanted to be better because before i think it was kind of me so uh you know that we're always constantly refining every page that we create every guide that we make just because we want to make sure that we're constantly consolidating fresh brand new data to uh give you guys the you know the most amount in one place right just kind of makes sense that way so anyways best secured cards that actually graduate this is something i'm constantly hearing now i want to just note that i did not
(01:04) go scrounging and you know looking through every single credit union to see which ones actually graduated and which ones didn't i actually pulled from the list of cards that i knew did and one credit union which i personally used which is navy fed now i know others do the only issue is is like for example last year there were two credit unions that we talked about in review videos that then stopped doing graduating cards and they'll just do that and so there's over 40 000 credit unions in the united
(01:34) states i don't want to update that list i'm sorry but uh i don't want to deal with that so anyways we're going to go with the major players and then you know navy fed which is a credit union so we've got on this list uh discover i.t just in case you want to add a buckshot or you can go to this page discover i.
(01:49) t secured card bank of america customized cash rewards bank of america unlimited cash rewards uh and bank americard secured capital one platinum secured card uh city secured mastercard and of course the navy fed uh end rewards lastly sable credit card you probably didn't know about that one stable secured credit card so now let's go back up to the top here and go one by one so uh you can deposit 200 to 2500 on discover uh 22.
(02:22) 99 apr let me explain these little um abbreviations as well they'll be underneath the table also uh 22.99 that's the apr 10.99 bt is balanced transfer for six months and then it goes up uh 24.99 ca is uh cash advanced and af is annual fee so to condense all this together we just kind of uh bunched all that together like annual fees and aprs right and then if there was a any additional fees like a foreign transaction fee or something it'd be on there but i believe that's zero on that card okay cash back this will get two
(02:56) percent at gas stations um restos restaurants and uh up to a thousand dollars each quarter one percent on all other purchases 2x cash back match unlimited dollar for dollar for your first year uh no late fees uh on the first one and up to 40 after that so graduation is in seven months and so uh hard pull yes experian here's some data points i don't i don't want to go through all this but you can check this out for yourself and then uh we've got just like stuff that's kind of hard to find right like the full breakdown of
(03:30) terms and rewards and all the different specifics of the program pre-qualification page here it also gives you access to free fico bank of america customized cash rewards actually didn't know that they rolled out three new secured cards kind of weird but okay um these three let's just cover these all at once so these three there's no official timeline meeting on the website it says some people can graduate but not everyone's guaranteed to from what we've been hearing it's 12 months yes hard pull uh equifax or transunion
(04:02) they're all 300 to 4 900 uh that you can deposit in 23.99 variable 22.99 variable here this is kind of like their introductory card and then they've got the uh they've got the two kind of cash back cards right and this one's got no cashback uh same only fees you can read all that uh okay talked about graduation times and then here's a bunch of links and resources for you we don't have any data points there so if you want to give data points on those secured bank of america secured cards that'd be great comment
(04:34) below okay next capital one platinum good thing about this this is a kind of a weird one so after you do pre-qualification which the pre-qualification page now will pre-call you for like i think six different cards there's the savior the platinum uh quicksilver quicksilver one where we have five platinum i don't know five six something like that quite a few cards and with the secured which they'll also pre-quality for you'll get approved to either deposit 49 99 or 200 and that gets you 200. so you
(05:09) might have to um actually uh deposit 200 or just 50 and get the 200. make sense max credit line that you can get up to is a thousand dollars because you can just deposit more 26.99 variable which is awful and yes it'll pull all three bureaus to get approved for that i still think this is one of the worst cards to get it does graduate and it graduates into the platinum unsecured after uh six months so six months of online payments are on time payments rather and they'll graduate you and so what's great about that is
(05:44) then you graduate into a regular platinum right i i know some of you are already thinking this and then you can use our little sneaky peaky uh backdoor upgrade link which is on the capital one um definitive guide page and that could get you into a quicksilver or a savior one or one of these other cards really really quickly so i i don't know if that's gonna like stop you from getting you know sandboxed or you know bucketed but i know that you could you could move yourself through the cards pretty quickly if you wanted to do this
(06:13) and and i would be saying that's you should be doing it at minimum if you're gonna get hit with uh you know all three bureaus pulling ugh okay city mastercard 200 to 2500 uh we'll graduate somewhere between 12 to 18 months different uh from what we heard again here's some stuff for you to look at resources here just quick links to make it all easy for you uh yes hard pull equifax or transunion here's all your apr data so again i just wanted to put all this here so that you could compare it like
(06:44) all the way down to foreign transaction fees annual fees all the stuff that we usually don't mention in tables and data breakdowns like this but i think for this like because there's so few actually good graduating cards like this we can add all that data in and you can get a really good bird's eye view right all right uh navy fed is next 200 minimum could not find a max for the life of me 18 apr the zero um annual fee zero on cash advance zero balance transfer and zero foreign transaction fee that's really really good one x
(07:15) points per dollar no cap um and three to six months so here's the deal with that there's a bunch of notes underneath by the way in case you need them here's the deal with that after three months of having your card and using it responsibly you'll be eligible for an upgrade if you qualify we'll provide you with an additional credit uh with additional credit to allow for spending beyond your deposit then at six months we'll automatically review your account to see if you're eligible to
(07:40) have your hold removed and to be upgraded to cash rewards credit card so i put three to six months six months okay a bunch of information there you just you get all kinds of perks you get cell phone protection rental car protection or rental car coverage uh zero fraud liability is just about on all these i think and then lastly stable secured ten dollar minimum which is extremely low to ten thousand prime plus six nine nine percent you get two percent on um amazon spotify netflix uber uber eats hulu whole foods one percent unlimited on
(08:16) everything else 2x cash back uh dollar for dollar first 12 months four months with some milestones they don't say the milestones they basically got like this um credit teaching component and i think you have to like go through there and probably make a certain amount of payments spend a certain amount of money uh money on the uh card in the first four months to qualify for um upgrading right into um into unsecured and then the only difference here is that i think this is the only card yeah the only card here because it's kind of
(08:48) a fintech that doesn't pull credit so again if like if you really want to minimize credit hits then yes and this is really framed towards people who are brand new to the us or just getting their you know their their passport for the first time or going through becoming a resident uh this is really who this is catered towards but again no no sense and you you know you can use it as well so um no shame there if you want to all right uh yeah no credit history required same thing fraud liability etc etc tons of notes underneath that
(09:21) for additional information and then yeah we just break down the worst credit cards underneath that so um there you go like expect this this page to change a little bit but i wanted to start off 2022 correct by giving you what is this nine eight so eight secured credit cards that will graduate and somewhere between let's call it uh six to 18 months pretty cool right comment below if you've got data points on these cards uh or if you just want to comment for the elgos like it it'll get this in front of more
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