You know the trick. Find a credit card offering an introductory zero rate of interest demand on spending and transactions and move your own balance to it. Then six, nine or twelve months down the line, when the normal interest rate is about to kick in, do it again. That may be, again find another zero per cent interest credit card and again move your balance into it.
The logic behind this is that you never ending up paying interest on the debt because you always have a absolutely no interest credit card. Therefore, a smart way to beat the banks. Or is it?
Capital One Platinum Preferred Card! The Capital One Platinum Preferred Card is a decent card. The Capital One Platinum Preferred Card has no annual fee. Capital One Platinum Preferred Card also has a 15 months introductory period where there is no interest on purchases. In addition to that you will automatically get a credit limit increase after make 5 monthly payments to the Capital One Platinum Preferred Card!
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The capital one platinum preferred credit card. Capital One has done it again there is a new credit card from Capital One and it is called the Capital One platinum preferred card. So that's what we're gonna talk about in this video but before we get started I have a quick message. Welcome to another video if you're new here my name is Duane with how to build credit TV and on this channel we talk about everything you need to know about credit, credit cards and how to make money using credit cards. So if this sounds like something in which you're interested be sure to subscribe to our channel and click that notification bell so you don't miss a thing. Okay so Capital One is my favorite card and our bank out there. And the reason why I like capital wants so much is because back in 2013 when I was looking for a way to rebuild my credit nobody would give me a chance but Capital One did and I also have a car loan with Capital One. So Capital One has been insanely good to me I got a credit card in 2013 got a car loan in 2015 with Capital One. So in this video I want to talk to you about the new credit card capital on the capital want platinum preferred card. Now this card is not it's not a big deal but you know people definitely want to be informed as to what this card has to offer. And so what I'm gonna do is I'm gonna talk a little bit about the Capital One platinum preferred card and I'm gonna kind of compare that card to the regular old Capital One platinum card. So what I'm gonna do right now is I'm gonna jump over to my computer so we can have a better look and I want to make sure that I'm giving you correct information at the capital own website and so that we can know exactly what the Capital One platinum preferred card has to offer. So give me one second and I'll see you over on my laptop. Okay so we're at the Capital One website to have a look at the Capital One platinum preferred card. So as you can see here it says credit level good. So this card requires a good credit level as opposed to the capital one Platinum which i think is average and the Capital One secured card is of course rebuilding or bad credit. So as you can see here there's no annual fee for this card. The purchase rate currently when you get the card there's gonna be a 0% introductory APR for 15 months which is really good and then after that it'll be between 16.49% and 25.49% variable APR after introduction period. So 15 months is not bad that's quite a bit of time. I know that the Discover Card the discover it card actually has a 14 month period where you have 0% introductory APR. So 15 months is pretty cool. And so let's kind of scroll down here as you can see the next thing here it says access to higher credit line. Get access to our credit line after making your first 5 monthly payments on time. That's pretty similar to the Capital One platinum card and then of course credit wise. Credit wise is a pretty decent tool to have it's good to have some tool than to have no tool at all. So this is where you can access your credit score and I do believe that it's from TransUnion. So credit wise it's something I have like I said to at least look at your credit score. Of course there's fraud coverage, you're covered by $0 fraud liability if your card is ever lost or stolen. That means you will not be responsible for fraudulent purchases and of course there's transfer information here so this part is kind of cool and really important if you're interested in doing balance transfers. This card is actually a decent card to have. So it says 0% intro APR for 15 months as far as transfer is concerned and then after that'll be sixteen point four nine percent to twenty five point four nine percent which is the same thing as the regular purchases APR. 3 percent fee on the amount transferred within the first fifteen months. So that's not bad I mean you could save a lot of money if you have something to transfer from another credit card to this particular credit card. You can save money even though you're paying a three percent fee or a three percent on whatever that balance is that you're transferring. So that's something that definitely keep in mind and that's a pretty good tool to have that you can use with this Capital One platinum preferred credit card. So down here you pretty much have some different things that you can explore as far as capital one credit cards are concerned. So as you can see here it says instant purchase notifications. You can be notified of course instantly and whenever you use your Capital One credit card and you get a notification depending on how you set it up with the mobile app. That's pretty good it's a cool tool to have. I don't have that set up with my current Capital One credit cards but I do have it set up with my Amex gold card. Of course you have account alerts, you can set up personalized email or text reminders to help you stay on top of your account. And there's personalized payments which is pretty cool. You can pick your own monthly due date and payment method check, online or at a local branch all with no fee. So that's really good of course there's auto pay and then there 24/7 customer service. Let's click on the security tab at the top right here and so the security tab of course tells you that there is going to be security and account alerts, of course which is really cool you already know that. There is the virtual card numbers by eno. I hope I'm pronouncing that correctly. Pay for online purchases with virtual card numbers and keep your actual card number to yourself. Which is pretty cool I can't say that I've used a service so I'm not sure about it but it sounds pretty cool. Then they're sure swipe or touch ID, so sign into your Capital One account. The Capital One mobile app quickly and securely with your fingerprint or custom pattern. There is card lock which is really really cool you can lock your card if you have misplaced the card. You can lock the card and turn it back on when you're ready all with the Capital One mobile app. So that's really good of course we talked about fraud coverage. Let's click on the apps and digital services here real quickly just to kind of see alright so basically we talked about all this already. The Capital One mobile app is a pretty cool app I use that app to pay my Capital One bill. I have the Capital One Savor card and I also have the Capital One Quicksilver card. Credit wise is good it's better to have some kind of tool to check your credit score and then of course the eno deal here where you can basically protect your actual credit card number and save yourself that hassle of worrying about that when you're shopping online. So real quickly what I want to do is I want to compare the Capital One platinum preferred card to the Capital One platinum card. So I've already opened a tab here and there are some key benefits here comparing as you can see at the top of the screen the Capital One platinum preferred card and the Capital One platinum card. So there are some key things here as you can see says enjoy 0% APR for 15 months on purchases and transferred balance. Of course that's not an option with the capital one platinum card so that's very important to take note of and then the credit level here as you can see on the left the capital one platinum preferred card is going to be a good credit level that you need to apply for this card. Or on the right you see the capital one platinum card the credit level is average. And then another thing here as far as what the purchase rate is going to be of course 0% on the left pertaining to the capital one platinum preferred card. And then on the right you're gonna start at twenty six point nine nine variable APR. So there's a major difference there. Of course down here the next thing talks about transfer information. So there's a three percent here on the left with the capital one platinum preferred that you have to pay on your transfer within the first fifteen months and then on the right it says twenty six point nine nine variable APR no transfer fee. So the way I'm reading that it means that there is no transfer fee which should mean that you don't pay the three percent okay. But you will have to pay twenty six point nine nine percent variable on whatever you transfer. Okay so that's definitely something to consider if you're interested in doing a balance transfer and of course as you can see both credit cards has no annual fee. So I just want to do a quick comparison between the two cards of capital one platinum preferred credit card and the capital one platinum card. So thank you for watching this portion of the video I'll see you back in just one second. Thank you so much for watching this video about the Capital One platinum preferred credit card. If you liked the video please be sure to give it a thumbs up it helps our channel quite a bit. If you have any questions leave them in the comments below this video and I'll do my best to answer it as soon as I see it. Also if you feel like sharing this video with somebody that may find it helpful that would be insanely helpful to our channel. If you haven't subscribed to the channel go ahead and hit that subscribe button and click that notification bell so you don't miss a thing. Once again my name is Duane with how to build credit TV and I approve this video. I'll see you in the next video. Until next time take care and be blessed. Peace!
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hi YouTube it's generally here in this video I'm gonna be telling you all about how you can build up your credit from scratch or how to rebuild your credit if your credit score doesn't look so hot right now I've had a couple different people message me and say hey I applied for two to three different credit cards that I researched and thought would be great for me but I got denied for all of them like what's up what's going on uh and here's the thing in order to get accepted for a new line of credit you need to show that you have good credit history but you can't build up a good credit history without already having credit try not to get frustrated or discouraged because it's really tricky to get accepted for a new line of credit if you don't have a credit history first of all you're going to want to stop applying for new credit cards if you were rejected for one or two applications already chances are the new applications that you're submitting are also going to get rejected every time that somebody checks your credit it hurts your credit score a little bit let's say you don't have a credit card and you've never had any credit at all in order for you to start building up your credit I would suggest opening a secured credit card now the difference between a secured credit card and a regular credit card which is referred to as an unsecured credit card is that you have to put money down to secure the account so here's an example let's say you go to you know Capital One and you put an application for a secured credit card if you're approved you then have to use your checking account to transfer money to that credit card account the reason why you have to put a security deposit down is because the lenders aren't sure if your credit worthy or not they don't know if you are a risk for them or if you're somebody who they can trust with the money that they're going to let you borrow so in order to tell they're going to first have you demonstrate to them that you're trustworthy and that you have can show responsible use of money by putting your own money down and show me good behavior over time and then you can get your money back and you can sometimes even have the account transition from a secured credit card account to an unsecured credit card account which basically means that it's going to be a regular credit-card like you know most credit cards that we talk about here are some things that you're going to want to keep in mind you're going to want to find a secured credit card that actually reports all of the information to all three credit bureaus remember you want to establish good credit you want to build up your credit so you need your behavior like on-time payments to be sent to all three credit bureaus every month so that you can build up a good credit history make sure that you make all of your payments on time the point here is to build up a good reputation so if you forget to make a payment that's it you're gonna have a late payment on your credit report and it's going to show that you aren't able to be trusted with money so you have to make sure that every single one of your payments is submitted on time keep your utilization low in one of my other videos I talked to you about why utilization is so important you basically just want to make sure that you're not spending more than 10% of what you have available to spend make sure that you find a credit card that has no annual fee if you're gonna apply for one that does have an annual fee then make sure it's a really low angle fee like 25 to 30 dollars you don't want to pay too much money every year to be using the secured credit card because you're already paying to put a security deposit for the account so you want to make sure that you're avoiding as many fees as possible especially because there are secured credit cards out there that are available that don't charge any fees at all in the description box below I'm going to put the links through the applications for two of the secured credit cards that I think are the best to apply for the Capital One MasterCard secured credit card and then the Discover it's secured credit card both of these credit cards have no annual fee and they have a really good rate of approval so that it's likely that you'll get approved if you need to rebuild your credit or if you need to establish credit because you have never had credit before so I hope that that's really helpful that's all I have for you guys today um if you have any questions or comments about secured credit cards go ahead and put them in the comment box below or you can message me privately be helpful at gmail.com till next time please