In this episode, we discuss the importance of getting your credit score on point as a beginner. Credit is a critical part of your overall credit score, and if you don't have it on point, you are going to suffer consequences, especially when we live in a 3-based, debt-based society.
00:22:38.000But quite frankly, guys, if you don't have your financial things in order, it's going to create a lot of problems for you where women will be a quick...
00:22:48.000A distant second or third or fourth or fifth in place if you don't have your money on point, man.
00:22:53.000So you've got to have your money on point, guys.
00:22:55.000It's very critical, and obviously credit is a critical component to that because if you live in the United States or England or any of these first world countries where credit is a thing, if you don't have your credit score on point, you're absolutely going to suffer consequences, especially when we live in a U3-based debt society.
00:23:14.000I wish it wasn't that way, but that's how things are.
00:23:16.000Everything is based on credit and credit scores.
00:23:19.000So whether you want to build wealth or you want to have a good credit score in itself or a combination of the two, you need to be able to figure this situation out.
00:23:28.000Speaking of on point, when you spend money with your credit card, you get points.
00:23:32.000So if you want to mess with girls for free, you can use your points to travel, hotel room, do what you got to do.
00:24:34.000Or like a city cash, one of the beginner ones, and then build your score that way.
00:24:38.000But of course, you want to have a score that's going to be good because you get lower interest rates as well as better ratings for rental properties or, for example, even cars itself.
00:24:46.000But at the very beginning, you have probably a low score of zero.
00:24:50.000For most of you, though, you might have a 300 score, 250 score, which kind of sucks, but your costs are somewhere.
00:24:55.000I'll say this because everything here in life that we live in, in America especially, is credit-based.
00:25:00.000So at the foundation for your future, this should be a very important point for you because, again, your parents might not have a good credit score, maybe your family, but if you start the process of ball rolling, you can change that entire path for your family and for yourself.
00:25:12.000So some tips you can use from the very beginning is if your members have good credit, for example, your grandmother, your mom, or your auntie, even your uncle, and they trust you, they can put you on their credit card, you can get points that way as well.
00:25:35.000Now what's going to happen is once time passes, let's say between 2 to 5 months, you get a boost in your score because now they see that you're on their credit as well as an authorized user.
00:25:45.000And if you're responsible and not blowing it like you should be, it's going to raise your score immensely.
00:25:49.000And it's a little hot you can use with your family members or people that trust you.
00:25:52.000But if you don't have that, you can do it as well.
00:26:23.000But again, guys, Credit cards are important for your future and for your real-time, for example, payments, for example, rental properties, rent itself, and as well, cars.
00:26:34.000But we'll get into the first one coming up here.
00:26:38.000What's the first one here, everybody else?
00:27:50.000So now buy a card at the very beginning.
00:27:51.000But Discover itself, I'm not a fan of, but for you, it might be actually good.
00:27:58.000So the other thing also, guys, that's important to know when it comes to these credit cards, right, is the beginner credit cards are going to notice they're not going to have as many perks as other credit cards when you have a higher credit score.
00:28:15.000The thing is that the higher credit score, the better the credit card you can get with your credit score.
00:28:22.000So if you want to get an Amex, Platinum, etc., which we're going to cover when we do travel credit cards for you guys.
00:28:29.000But now when it comes to beginner credit cards, you're going to have to kind of...
00:28:32.000You should be lucky at all if you're able to get any credit cards that give you any kind of benefits in the beginning because the way they look at it is...
00:28:40.000Getting a lot of perks on a credit card, that's a perk of having a higher credit score because then they can trust you with giving you more benefits, giving you higher credit limits, etc., because you are someone that's trusted with a higher credit score, right?
00:28:51.000Your credit score is nothing more than your worthiness and your ability to borrow money and then be able to actually pay that money back.
00:28:58.000The lower your credit score, the less worthy you are to pay your debts back.
00:29:04.000And I would say once you get into below 700, guys, that's when you start to get into territory where it's going to be a little bit harder for you to get these really good credit cards.
00:29:12.000Now, yes, you'll be able to get basic credit cards, but if you actually really want to build your credit score up and get yourself to a point where you're able to get these actually good credit cards, you're going to need to break into the 700 range, and then more importantly, you're going to have to break into the 720 plus range to get the good cards.
00:29:27.000But to get yourself into that position, you're going to have to start with beginner credit cards, hence why this episode is so important, because...
00:29:32.000A lot of you guys might be in a position where you have no to low credit, and you want to be able to kind of get yourself in a position where you can get these better credit cards.
00:29:38.000Now, I don't anticipate that you're going to want to keep these credit cards long term, or actually utilize them long term, once you get your credit score to an actual good point.
00:29:46.000But, you know, you've got to start somewhere.
00:29:47.000And for a lot of you guys that have lower credit scores, this is going to be imperative for you to build your credit up.
00:29:51.000So let's go back real quick to that Discover It card real quick.
00:29:54.000Now, the Discover It card, guys, we've talked about this card literally for years, since we've been doing this series for you guys.
00:29:59.000It's always been a very good starter card for y 'all.
00:30:04.000because there's different options with it now as you guys could see The reason why we're showing you guys the website is because the offers always change.
00:30:11.000You guys are going to notice that what we're showing you right now might not necessarily be the offer in a year from now, or even a couple months from now, because the credit card offers are always changing because credit card companies are businesses at the end of the day, and they've got to be able to stay appealable and competitive, so they're always changing their terms of service.
00:30:27.000So right now, we are on the website, so you guys know the actual terms of services right now as we're recording this on April 28th, 2025, okay?
00:30:34.000And the discovery card, as you guys know, This is a card that a lot of people utilize in the beginning.
00:30:41.000Typically, there's a secured version and an unsecured.
00:30:43.000The secured version typically is where you're putting money into it, and it almost acts as a debit card, right?
00:30:50.000And then after a period of time, when you pay it off and you show that you're trustworthy, then you can go ahead and move it to unsecured and then use it as a credit card.
00:30:59.000That's one of the benefits of a Discover card.
00:31:01.000Now, the problem with Discover, and I think Fresh alluded to it a little bit, was...
00:31:06.000Discover isn't as widely accepted everywhere, and it's a bit more of a niche card.
00:31:11.000You know, going international with this card might be a little bit difficult because a lot of places don't accept Discover, let alone...
00:31:58.000But at the same time, like Myron's saying, it's not widely accepted card everywhere because Discover is a niche card, like I said.
00:32:04.000So probably in America, certain places you can use a card to benefit from it.
00:32:07.000Yeah, a lot of places are not going to accept Discover.
00:32:09.000Again, this is why I tell you guys, like a card like this, this is a card you want to get, get your credit score up, and then quickly segue off.
00:32:43.000Builder credit cards, beginner credit cards, the Discover is one of the best.
00:32:46.000I can't even really talk smack when it comes to beginner and builder cards.
00:32:52.000The Discover is absolutely good, especially since you're able to get the secured or the unsecured versions of this.
00:32:58.000So a lot of you guys might not even be able to get a credit card.
00:33:01.000At least you can go ahead and get yourself a secured credit card, which a secured credit card, like I said before, you put money on it, it behaves like a debit card.
00:33:07.000And then once you get to a certain point, you can go ahead and segue and turn it into a credit card and unsecured.
00:33:13.000Okay, so that's a good way to get yourself in, especially for you guys that have no to low credit.
00:33:19.000Good way to get your foot in the door.
00:33:21.000And then in this case, going back to it real quick, it looks like they've actually upped some of the things where you're able to get fucking cash back, which is wild to me, because for a very long time, you weren't able to get cash back on this card.
00:33:31.000So it looks like they've increased it where you get 5% cash back on everyday purchases at different places you shop each quarter, like grocery stores, etc.
00:33:38.000So it might be where, okay, there's a calendar.
00:33:40.000Okay, what that means, Chad, let me explain this for you.
00:33:56.000They typically do this where it rotates.
00:33:58.000I'm not a fan of credit cards like this that do rotating like this, but hey, with a credit card like this that has a very low requirement to get in...
00:34:05.000You know, that's a plus for you guys because most of the time these beginner credit cards have no perks.
00:34:09.000So the fact that they've actually added in a cashback perk to a Discover card is very...
00:35:01.000Like, that's the whole purpose of using credit cards is so that you can go ahead and call, you know, if you feel like your card is being used fraudulently.
00:35:07.000But, you know, I guess they got to make that a perk because, again, for beginners with credit cards, they don't, you know, they're not used to this liability.
00:35:15.000A lot of people, guys, believe it or not, are idiots and still use debit cards to purchase a lot of their stuff.
00:35:20.000And a lot of times when you use a debit card, you don't get the same protection as you would with a credit card.
00:35:23.000So there's a selling point to a lot of, like, you know, idiots out there that are not financially...
00:35:28.000I'm aware, but I tell you guys all the time, one of the biggest reasons why you need to use a credit card for everything is quite literally because of fraud liability.
00:35:35.000And as you guys know, I talked about this a lot, fraud is one of the fastest growing crimes in America, okay?
00:35:41.000Scammers, you know, credit card skimmers, all these people.
00:35:46.000And the reason why is because these criminals are understanding that violent crime, robbery, and drug trafficking, quite frankly, gets you a lot of jail time.
00:35:52.000But stealing credit card information and scamming doesn't get you as much time.
00:35:55.000So what ends up happening is a lot of these crooks are moving from drug trafficking into basically credit card trafficking, which is them stealing your identity, stealing your card information, charging things.
00:36:06.000Man, I can't tell you guys how many times I've had it where I look at my credit card statement and I see like a $10,000 expense.
00:36:31.000Like, literally, fraud is one of the fastest ways for crooks to kind of get over on you.
00:36:37.000With that happening, I think people need to adapt to and be prepared for the new normal where people steal your identity and they use your cards and charge things.
00:36:45.000I can't tell you how many cards I've had to replace.
00:36:47.000Like, every two or three months, guys, I have to replace my credit cards because it's so goddamn prevalent where people are stealing information.
00:36:52.000So, that is a big perk of using credit cards versus debit cards is the fraud liability, man.
00:37:18.000And in the next 10 years, it's only going to get worse.
00:37:20.000So, you know, they're marketing it to the normies out there that don't know that that's a big deal because most Americans use cash or use debit cards like morons.
00:37:29.000But yes, guys, using credit cards, another big thing besides the points is the liability, which almost every credit card company is going to have.
00:37:36.000That zero fraud liability, where if your stuff is being used fraudulently, you can absolutely crawl in and get it fixed.
00:37:41.000Actually, if you're smart, guys, if you hear what we're saying here, your career path, cybersecurity could be big, because now, with all this hacking going on, all this fraud, cybersecurity is going to be at an all-time high.
00:40:11.000Build credit without an annual membership fee, right?
00:40:13.000So, an annual membership, guys, very common amongst credit cards, especially good credit cards, they'll charge you a fee basically to hold a card, right?
00:40:20.000Like Amex, for example, charges you like $600 or $700 to have a fucking platinum, right?
00:40:24.000Which might be a little OD depending on how much you use the perks.
00:40:27.000A lot of these beginner credit cards, I'm a big fan of, you know, zero annual fee, especially for beginner credit cards.
00:40:33.000I don't think you guys should be paying to hold on to a credit card.
00:40:36.000You don't really want to be paying annual fees unless the card pays for itself and it makes sense.
00:40:40.000But in this case, you got the Petal 1, right, where it goes 2% to 10% depending on what kind of card you get, when you get the offer.
00:40:47.000And then the Petal 1 Rise, you know, you get an annual membership fee of 59. I'm assuming the Petal 1 Rise has significantly more benefits where they're charging you an annual fee.
00:40:55.000And then the cashback can also range between 2% to 10%.
00:40:59.000So if you scroll down, then it gives you the different perks.
00:41:13.000Which by the way guys, again, most credit card companies, when you get a credit card with them, they will give you a credit score tracker with an app.
00:41:40.000So foreign fee, guys, is if you go to like, let's say you go to Europe, right, and use this credit card, they're not going to charge you a foreign transaction fee, which is very common among a lot of cards.
00:41:48.000I would argue that most cards are going to charge you.
00:41:50.000Yeah, most of them will charge you, yeah.
00:41:52.000Travel cards typically will not, but yeah, that's good that this beginner credit card is not charging you a foreign transaction fee, which is good.
00:41:58.000And then the Milestone Gold MasterCard, so I guess that's like their premier card here, the highest version of this.
00:42:05.000So you can use it all transactions, and then it has a variable rate of 35%, which that makes sense.
00:44:50.000A lot of you niggas got garbage credit scores, so we got to give you guys cards that you guys can actually get because you niggas are idiots with your credit.
00:45:00.000We have to show you guys these cards that, quite frankly, I would never be fucking caught dead with in my wallet.
00:45:04.000It's because a lot of y 'all niggas got sorry-ass credit scores or no credit, so we have to give you guys credit cards that you can qualify for, that you can get so that you can build your credit up.
00:45:28.000If you were in an accident, And you need ambulance or fire service, and you didn't know, you needed to pay, you got a bill, and then they put it in delinquency, then you can cut because at that point, you lose your...
00:45:40.000Yeah, but niggas will know what their credit...
00:45:42.000But these niggas don't even check 9 out of 10 times.
00:46:10.000So yeah, guys, these cards that we're showing you, Secure It, Pedal, whatever, these cards are strictly for you to get your credit score to an acceptable level so you can go ahead and get a real card.
00:46:19.000We don't want y 'all having this shit forever.
00:46:22.000The goal here is, let's say you get to discover it.
00:46:25.000You open it up, get your credit score up.
00:47:28.000Have it always be used either by a sister or a friend of somebody so that you can use it and keep it in your actual usage because if you don't use it, they will take it away and you will lose it.
00:47:36.000So guys, also as well, man, with credit cards, yes, they may be old, but use them once a year at least so you can keep it within that range of having usage of those cards, at least.
00:47:45.000I almost canceled an old credit card because of that.
00:53:11.000Bro, when I started with these beginner cards, like, oh, you didn't get none of this shit.
00:53:18.000Bro, I think, well, actually, there's a video we're gonna play so you can see how bad- Also, it's because the credit card game is getting way more competitive.
00:55:37.000You can go ahead, you can balance transfer, you open up a new credit card for a year and a half, you can just let it rock and sit with a balance, even though I don't suggest doing that, but it is a financial strategy that you can employ.
00:55:49.000So yeah, in general, you should be paying it off in full unless you've got some kind of offer where they're allowing you to enjoy no APR.
00:55:58.000A lot of times it's an introduction period where for the first year to two years, they won't charge you.
01:01:23.000Now we're at the Quicksilver and the City Cash.
01:01:25.000These are cards that you can actually keep long-term.
01:01:28.000And there's better versions of the Quicksilver where you can get 2% cash back, etc.
01:01:32.000So these are cards that you can actually keep long-term, but obviously you're going to need to have a higher credit score to get these.
01:01:38.000But this is still considered a beginner card in the grand scheme of things, which goes to show, man, how competitive things are.
01:01:45.000This used to be a really good card, but now they've kind of lowered their standards where even someone with a lower credit score can get this card, and the other cards have just gotten better.
01:08:21.000So she's saying basically this card she just showed, after a couple months, it'll end the 0% no APR for that year, which means you don't pay any interest for that year.
01:12:50.000And a tip I said earlier is have one of your parents hopefully put you on your credit card to build it up organically as well.
01:12:56.000Yeah, being an authorized user, that's very important, guys.
01:12:57.000Being an authorized user is a great way to get your way in.
01:12:59.000And then also alongside having these beginner credit cards.
01:13:02.000And just understand, man, if you don't get your credit on point, guys, you're not going to be able to get real estate, which is going to be, we know, 90% plus of millionaires make their wealth off of real estate, man.
01:13:11.000So if you guys want to really have a financial future and be able to...
01:16:05.000I don't think the housing market depends too much on tariffs, man, to be honest with you, which is kind of a good thing because the real estate market, obviously, everything affects each other, but what I'm trying to say is that I don't think it affects it that much.
01:16:23.000I know the interest rates have come down a little bit.
01:16:25.000That was actually Trump's goal coming in, was to try to bring the interest rates down so that when money is cheaper, people tend to take more...