Daily Tea Sips's video: How To Use Your Tax Refund To Build Your Credit

How To Use Your Tax Refund To Build/Rebuild Your Credit Secured Credit Card Resource - https://www.creditcards.com/secured/ Normally what happens is people will get a $2000 tax refund, live “hood rich” for a week or two then be right back in the same position again: no money. Instead of spending your tax refund on clothes, purses, cars, electronics, and furniture we are going to show you how to take that same return and use it over and over again. You will have access to your refund for as long as you like, it will help build or re-establish your credit. We’re going to show you how to still be able to get the items you want but still have access to your refund. This will require you to think outside of the box. If you were planning to pay down a bill or buy your children clothes or even take a trip I am going to show you how you can still do that and build/rebuild your credit using your tax refund. You will need to obtain a secure credit card. This is NOT a debit card or pre-paid card. A secured credit card simply means you send the secured credit card company a secured amount (deposit) whether it be $200 or $2000. Secured credit cards require a deposit (use your tax refund). Unlike debit or pre-paid credit cards; secured credit card report your payment activity to all three major credit bureaus (Equifax, Experian and Transunion. You are able to use your secured credit card to purchase items. As you pay the balance off you begin to build or rebuild your credit. The goal here is to build your credit profile and ultimately increase your credit limit turning that card from a secured card into an unsecured card. Once you receive your tax refund use that refund as the deposit for your secured credit card. Secured Credit Cards - https://www.creditcards.com/secured/ Use your secured card to make your purchases. Make your payments on time for eight+ months. Your payment history will be reported to all three credit reporting agencies. Your secured credit card company will review your account. Make sure you balance is low or zero. The credit card company may offer you an unsecured credit card. Once you have accepted the unsecured credit card request a refund on your secured credit card deposit. Now you will have your initial refund back plus access to an unsecured credit card which will continue to help you establish credit history. Remember: a secured credit card reports to all three credit reporting agencies. Make sure to make your payments on time. Spend no more than 30 percent of the credit limit. Connect with me on social media: Instagram - https://www.instagram.com/dailyteasips/ Facebook- https://www.facebook.com/dailyteasips/ Twitter - https://twitter.com/dailyteasips Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. No copyright infringement intended.