馃攳
Green Dot Secured Credit Card Review - Get Credit Card Without Bank Account - YouTube
Channel: CreditFast
[0]
today i'm talking about the green dot
[2]
platinum secured credit card
[4]
i've never talked about this credit card
[6]
before but for me
[7]
i want to bring out as many possible
[11]
credit building offers that you guys can
[14]
consider
[15]
when you need to rebuild your credit or
[17]
if you have no
[18]
credit to build your credit and i always
[21]
pick low fee options or no fee options
[25]
so today's credit card the green dot
[28]
platinum secured
[29]
credit card is a low fee secured credit
[33]
card
[34]
it's a really good option to rebuild
[37]
your credit with
[38]
the approval is fairly easy most people
[42]
will get approved for this card
[44]
the only thing that really holds anyone
[46]
back
[47]
is whether they didn't properly
[51]
fill out the information in their
[53]
application
[55]
do not fill your application out
[56]
correctly you can
[58]
get denied that way or there are some
[61]
income
[61]
requirements so you need to have some
[65]
source of income coming in
[67]
if you can meet those requirements
[69]
basically everyone gets approved for
[71]
this offer so that's why i'm talking
[73]
about it today
[75]
and i have a viewer to thank for that
[76]
because he asked me to review
[78]
a couple of the credit cards he had that
[80]
helped him build his credit
[82]
and this was one of them and this was
[84]
the card offer that
[86]
i liked the best so i'm talking about
[88]
this one today
[90]
another thing that's really important to
[92]
you guys is that you do not like
[94]
hard credit inquiries this one is
[98]
very unique it does not have a hard
[101]
credit inquiry when you apply for this
[103]
card so this is a really good
[106]
opportunity
[107]
to when you're building credit to have
[110]
something that doesn't have a hard
[112]
credit inquiry you're not going to get
[113]
knocked down a few points
[115]
for applying for this offer like you do
[117]
with some other
[118]
secured credit cards discovered
[123]
so what i also like about this card is
[126]
most people have a bank account
[128]
but not all people have a bank account
[130]
and if you don't have a bank account
[132]
it's not a problem
[133]
a lot of people now are using prepaid
[136]
cards because they simply
[137]
don't have bank accounts
[141]
and there is even a green dot prepaid
[144]
card
[145]
and i'm really advising against getting
[147]
a prepaid card when you can get a card
[150]
like this
[151]
where you don't even need to have a bank
[154]
account
[155]
and it's going to cost you the same
[158]
amount
[158]
more or less in fees but
[161]
the difference is going to be that with
[163]
a prepaid card
[165]
you're not building credit and with this
[167]
one you will be building credit
[169]
so during the course of having this card
[173]
you're going to build your credit along
[176]
the way and that can help you down the
[178]
road
[179]
you never know if later you have other
[182]
plans for yourself maybe you want a new
[184]
car
[184]
or long term you want a home so
[187]
just building that credit in some way is
[190]
going to help you
[193]
so this year i did a lot of videos on
[196]
secured credit cards and if you're not
[198]
sure
[199]
which one is going to fit your life
[201]
situation
[202]
the best check out the playlist i'm
[205]
leaving a link for it in the description
[207]
of this video
[208]
that way you can take a look at the
[211]
different secured credit cards
[213]
weigh out the benefits and the drawbacks
[215]
before you make your decision on which
[217]
one to apply for
[220]
okay so i said that this is a low rate
[223]
secured card here is the interest rate
[227]
and fee chart for the green dot platinum
[230]
secured card
[234]
now the interest rate on this card isn't
[236]
too bad
[237]
considering this is a secured credit
[239]
card but
[240]
it is a little on the higher side so
[244]
with any of these credit rebuilding
[246]
credit card
[247]
offers you're always going to want to
[249]
pay your balance in full every month and
[250]
you don't have to worry about that
[252]
interest rate
[253]
it's not going to surprise you that the
[256]
green dot platinum secured credit card
[259]
does not offer
[260]
balance transfers this is just a card
[264]
that you're
[264]
going to use to help build your credit
[267]
you're not going to be looking at this
[270]
as a balance
[271]
transfer credit card this is also
[274]
not a card you're really going to be
[276]
looking at for
[277]
travel because there is a fee a three
[280]
percent foreign transaction
[282]
fee for um transactions outside of us
[286]
dollars
[288]
on my channel credit fast i talk about
[291]
different
[292]
credit cards i review them just like i
[294]
am today
[295]
if you're finding value in this video
[297]
please hit the like button
[298]
if you want to see my newest upcoming
[301]
videos make sure you subscribe and hit
[303]
the bell notification and you will be
[305]
notified
[308]
most people have bank accounts and that
[310]
is the best case scenario
[312]
in making your payments with this
[313]
account because if you use
[315]
your bank account if you link that up
[318]
with
[318]
uh green dot then you can avoid payment
[321]
fees
[322]
but if you have no other options you
[325]
still are able
[326]
to make payments at over a hundred
[329]
thousand locations
[330]
they do charge a 4.95
[333]
service fee but this
[337]
is a way that a person without a bank
[340]
account
[340]
can have a credit card and start
[342]
building their credit
[345]
okay so one of the questions you may
[347]
have what is the easiest way to make
[350]
your deposit
[351]
on the green dot secured card and the
[354]
easiest fastest way is to go to retail
[356]
location where
[358]
your account is immediately loaded
[361]
but you do have options to do that with
[364]
the check and it is going to be
[366]
a slower process keep in mind if you go
[369]
into a retail location
[370]
just like with making a payment you will
[373]
also get charged that 4.95
[376]
fee in order to make that deposit but
[379]
like i said before that's going to be
[382]
an immediate deposit to your account but
[385]
if you want to do
[386]
it the slower way you have the option of
[389]
either
[389]
sending a check or a money order so that
[392]
goes on to my next
[394]
point of if you don't have a bank
[396]
account
[397]
you can also make your payments
[401]
by mail and here's the information over
[404]
here
[405]
you just simply need to send a money
[408]
order
[409]
and if you do have a checking account
[413]
you can't send checks to the mail as
[415]
well
[416]
so this is not strictly going online
[419]
or to a retail location you can mail in
[422]
your payments
[424]
also if you want to increase your
[427]
security deposit so that you have a
[429]
larger credit line
[430]
you are able to do that keep in mind
[433]
once you apply for the green dot secured
[436]
card you have 60 days to fund it
[438]
if you go past 60 days you are going to
[441]
need to reapply
[444]
customer service is okay but it is a
[447]
smaller bank you're not going to get
[448]
that same type of customer service
[450]
you're gonna get
[451]
with the larger banks okay so if you
[454]
have the
[455]
green dot platinum secured credit card
[458]
let us know what you think about it do
[460]
you like it do you wish you never got it
[462]
did you get denied for it these are
[464]
things that the the viewers right here
[466]
would like to know
[468]
so if you have a good or a bad
[471]
experience
[472]
let everyone know below i started this
[475]
video by saying this is a
[477]
low fee secured card and it is a low fee
[480]
secured card
[481]
there is a 39 annual fee which isn't so
[485]
bad
[485]
for this kind of secured card and you're
[488]
going to
[489]
be required to put down a 200
[493]
deposit this security deposit will
[496]
give you a 200 line of credit
[500]
if you're now asking whether you're
[502]
going to or
[503]
when you're going to get the security
[505]
deposit they will refund it
[507]
when you close your account so
[510]
you'll have a two hundred dollar line of
[513]
credit
[514]
and every year you have this card you
[517]
will be charged a thirty nine dollar
[519]
annual fee now it would be interesting
[522]
to know
[523]
whether or not you can have that annual
[526]
fee removed
[527]
after the first year going on the second
[529]
year
[530]
if you have had this card and you are
[533]
able to have the annual fee removed let
[536]
us know in the comments section if
[538]
that's possible or not
[540]
but otherwise this secured credit card
[544]
has a lower amount of fees
[547]
than many others out there so
[551]
it's going to be pretty much in the
[552]
middle of the pack there are
[555]
other secured credit cards like the
[557]
discover is secured card and the capital
[559]
one
[560]
secured card where there are no annual
[562]
fees
[563]
but this one has it and if you are
[566]
in a situation where your credit score
[569]
is very low when you're starting
[571]
out this is considered to be
[574]
a low fee option for you
[578]
one reason i like this card and it's
[580]
very familiar to me is that i see a lot
[582]
of similarities
[584]
with the open sky visa and the green
[587]
green dot platinum secured credit card
[590]
they pretty much are similar in
[594]
a lot of ways the annual fee is low the
[597]
security deposit low is low they approve
[601]
nearly everyone as long as you fill out
[603]
the application and you have
[604]
some kind of income the this type of
[608]
card they're going to
[610]
approve you they also do not do hard
[613]
credit inquiries
[614]
so these two cards are very competitive
[618]
and that's why i do like green dot
[621]
because it really reminds me
[623]
of open sky a credit card i've talked
[625]
about many times
[626]
if you're thinking of considering
[629]
getting the open sky
[630]
visa card i have done a video on that
[633]
and i'll link it in the description
[634]
below
[635]
and you can decide which one you might
[638]
like
[639]
a better but from what i can see
[643]
in many instances this is nearly the
[646]
same
[646]
type of secured credit card it's going
[649]
to be geared for people
[651]
that have situations where they have
[654]
really low credit scores and these are
[658]
about the lowest cost options for
[661]
individuals in this type of situation
[664]
the these cards both of them they do not
[667]
graduate
[668]
so they will give you the security
[670]
deposit back
[671]
but you get that back when you cancel
[673]
your account
[675]
if you have both the open sky visa and
[678]
the green dot platinum secured credit
[681]
card tell us about
[684]
how they are and if there is any key
[686]
differences
[687]
to these two offers but as far as i've
[690]
seen
[690]
with the research i've done they're
[693]
they're very very
[694]
similar so if open sky has been working
[698]
for you
[699]
or green dot has been working for you
[702]
you might want to decide
[704]
on trying to get the other card as
[707]
a line of credit to help you build up
[710]
your credit score
[712]
on my channel credit fast i talk about
[714]
different
[715]
credit cards i review them just like i
[718]
am today
[718]
if you're finding value in this video
[720]
please hit the like button
[722]
if you want to see my newest upcoming
[724]
videos make sure you subscribe and hit
[726]
the bell notification and you will be
[728]
notified
[730]
and i'll see you next time
Most Recent Videos:
You can go back to the homepage right here: Homepage