So u.s bank just did a thing. They did a really good thing. This is going to change how secure credit cards work in my opinion, from here on out, every other bank needs to step it up. What's up everybody welcome back to my channel today we are going to talk about the newest credit card.

Uh secured credit card from us bank. Now they have two credit cards here, i'm going to focus on one of them, one of them. If you guys, like the this one - and you want to see the other video and my thoughts on that one or maybe a comparison between the both we'll do that in a later video, i don't want to overwhelm you with too much information. Let's talk about, in my opinion, the best secure credit card right now.

I've done a lot of videos on secured credit cards, and i think this one tops all of them, so you definitely want to check this. This is for anyone who wants to build credit regardless of age or anything like that. Let's get right into the video first and foremost, if you are new here, my name is walter. This is the credit card master channel.

Make sure you subscribe. If you want to know about credit travel and all that good stuff, so go ahead and give me a thumbs up, subscribe and share this video, if you think, is going to be helpful if you're, anybody like me with reading a lot of stories from other credit Card videos that i've done a lot of you are, which is good because we can relate to each other. I had a really hard time in the beginning of my credit journey, getting credit cards because i didn't have any credit, so they didn't want to give me anything to build credit and it's kind of messed up how that is. But we do have workarounds on it and that's why i'm such a big advocate for secure credit cards, because it is a really good asset.

It's a really good investment for your future. It takes the risk off of the banks. The banks use word risk. Everybody takes risk, including banks, but banks want to take as least of a risk as possible.

Does that make sense to you guys, so you got somebody who is a risk, but well maybe like a level 1 out of 10 versus a risk, or somebody 5 out of 10 they're going to go with the 1 out of 10. Yes, they're taking a risk, but it's less and that's how secure credit cards work. It takes the risk off of everything you give them money whatever you give them, so they ask for a minimum of five hundred dollars or the max five thousand dollars whatever you give them, that is your secured credit card limit. Okay, so you're going to give them 500.

I just just just go small: you don't need to go a thousand five thousand just do what they ask you. I gave the minimum when i started and that's how i built my credit or even, if you're somebody who's had credit before that wants to rebuild it. This is good for you too. So i've done a couple of secure credit card videos.

One of my favorite credit cards for secured credit cards is still discover it. The discover it uh secured card because it gives you cash back and then you match back the cash back from the year um, which is pretty good and it still treats you as if you had a normal, unsecured credit card. U.S bank just took it to the next level and i think every bank needs to if you're watching this video, because i know they hire people to watch videos. You watch this video.

You need to watch the success rate for us bank because i think this car is gon na be really successful. So let's go over to the computer and i'll explain to you exactly what card it is and why i think it's the best so, like i said, u.s bank has three different, secure credit cards. I'll put the link down in the description for you, but out of the three that we have, so you got the u.s bank secured visa card, the u.s bank altitude go visa security card, and then you also have u.s bank cash plus visa secure credit card. Today, i'm going to focus on the red one right here: okay, let's go ahead and we're going to click on, learn more because i want to know some more about it.

So we can talk about it, so open the door to better credit and get rewarded for your everyday spending start with a security deposit of a minimum 300 to 5000, with no annual fee. Guys, like i said, then i want to really make this a big deal. You don't have to give them five thousand dollars whatever you give. Them, though, is going to be your credit limit.

Okay. So if you want to give them 300, that's fine, i don't have no problem with that. I actually suggest that, just if you're, just starting off and money's kind of tight go ahead and you can afford a little bit more sure, but you don't need to be giving them five thousand dollars i'd. Rather, you have your liquid cash and do other things with.

Like investments as far as maybe stocks, crypto or just keeping it liquid for yourself, you don't have to give them five thousand dollars, because your credit is still going to be getting built, the same okay. So, let's scroll down and as you see this is somebody who's. Probably building their credit 62 is not a bad score. It's actually a good score.

Okay, it's not the best, but it's actually pretty pretty regular um based on average of credit scores. Then you're going to set your credit limit, you're going to get rewarded for everyday purchases and you're going to build your credit, so us bank, they monitor your activity and regularly report your card to the three major credit bureaus which are equifax, transunion and experian, and it's Very easy just spend some money on the credit card pay it off. A lot of people have different opinions on it. My opinion on it and there's no there's two different opinions that i hear most of the time.

The first one is keep at least five dollars on the card at all times, um and then my opinion or the other opinion is pay it off a fool um, i'm personally asking you guys paid off in full. We are not in the business or interest of giving banks more money, we want to go and leverage ourselves and leverage our credit. We don't want to give them more money, and i do it. I don't when i when i when i first started my secure credit card journey, there was no balance that was left over.

I paid the balance every month in full. One of my professors in college um told me, and i'm not calling you guys this, but she used the word kiss and whenever i asked a question about like it was a public speaking, a public speaking class and it was kiss and that's standard for keep. It. Keep it simple stupid now, i'm not calling you guys stupid, but i want you guys to use the same method of keeping it simple.

Take that credit card get a limit for 300, go to walmart, go to target um, go shopping or whatever, whatever you have liquid cash, if you're gon na buy something and then pay it in full before the payment due date, um, that's going to be good for Utilization and it's still going to get reported every month that you're paying your bill on time, you don't have to carry a balance over to be reported. Your car is not going to be closed because you're still using it. So it's not going to be closed. All right, so here are the benefits that you get with this card, and this is why i think this card is the best a lot of secure credit card company on banks.

Their credit cards will take advantage of it because they'll have annual fees. They'll have very little to probably no perks, and it's just it's just really bad u.s bank is giving you the benefit of the doubt and treating you like an adult, as you should be, because that's what you're trying to do you're trying to get your stuff together. So you get 4x on dining and takeout, which is amazing. That's what a normal credit card will give to you nowadays about four four points: per dollar on dining and takeout: dining for somewhere, where you're sitting down it's like a restaurant type of scenario and take out in-n-out burger, chick-fil-a um things like that, and you get two X points at grocery stores, gas stations and on streaming services a grocery store like a kroger or a publix um.

If you're up north, you got acmes uh, shoprites, uh gas stations, okay, any gas stations um and on streaming services, hulu, netflix, apple, music, stuff, like that spotify and then you're gon na get one point per dollar on all other eligible purchases. So any other purchases you make you'll get one x um. You get one dollar per point. Now, here's even a better one, so they're already killing the game with the four two one right.

You get a 15 streaming credit for annual streaming service service purchases like netflix and spotify. That is amazing. Okay, that's that's really good. Now the additional benefits are you get to choose your payment due date, which is good.

It's right now choosing your own payment due date is pretty standard. Nowadays, zero fraud liability fraud, protection, 24, 7 access account access. You get all those things um. So here's another question: do your point expire with the secure credit card they never expire? You can redeem them right away or save them for later.

How is the security deposit used? It's held in a savings account in u.s bank, as this fdic insured, which means you are earned, interest and won't be touched as long as your account remains open is in good standing. This card is amazing. It is actually right now just based off of what i'm seeing here, my favorite secure credit card. It does top discover um.

In my opinion, the only thing i like more so about discovery is all the cashback you've earned at the end of the year. You get it back on that first year, but this carp is probably honestly is actually a little bit better. So what do you guys think about this card? Again, i'm leaving description down below this is a game changer again, banks need to step it up and actually do better with secure credit cards, because what's the point of going to you and paying an annual fee and getting no points and benefits while building my credit, If i can come to u.s bank or discover pay, no annual fee get points, get cash back and all that good stuff. What's the point of going with you guys they're going to lose a lot of business in that area? I think this is going to change some things if you guys, like this video, make sure you give it a thumbs up, subscribe notification bell for all my videos and also share this video for anybody who's trying to build credit, and it's really trying to figure out What the best secured credit card is right now.

I think it is u.s bank i'll talk to you guys soon be safe. You.