Current Build Review | The EASIEST Way to Build Your Credit
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- เผยแพร่เมื่อ 4 ส.ค. 2024
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Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC, and Cross River Bank, Member FDIC. Cryptocurrency services are not provided by Choice Financial Group, and cryptocurrency is not insured by or subject to the protections of the FDIC. The Current Visa Debit Card is issued by Choice Financial Group pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Current Visa® secured charge card is issued by Cross River Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see back of your Card for its issuing bank. Current Individual Account required to apply for the Current Visa® secured charge card. Independent approval required.
Magnified Money may receive compensation for sending traffic to partnered sites. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers.
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0:00-Intro
0:54-How the Build Card Works
2:50-Core Features
4:13-Current Banking Features
5:22-How to Get Your Build Card
6:59-My FINAL Thoughts
I saw your videos like 3 years ago and as I am Mexican I couldn´t follow you that much but here in Mexico I had to use Stori to build my credit again
Awesome review, great work. 👍👍🙂
This has really really helped me build my credit
Looking into credit cards, how are things going currently?
I like current. Thanks 👍
I been with current the last 4years I love them
Do I have to use the current debit card to use the credit card? Or can I have my Bank of America money get transferred to the credit card when I swipe?
@@epac2533the Bank of America card will be the bank routing number you connect to the current card. You can use the debit card functionality but I wouldn’t because it doesn’t build credit it’s just like any normal debit card. You can if you wanna make this your whole banking platform but I just use the build credit card
@@epac2533I’m wondering this too. Did you ever get an answer for this?
@@epac2533 yes you have to have the current debit
Current is the best!
Is it available in Trinidad and Tobago the Caribbean
I take pictures of the debit cards and the receipt.But if I misplace the debit card then find it, how can I reload the money on the card without having the card ? What cards can I reload money without adding my ssn and can withdrawal at the atm or get cash back ?
Let’s build! 🧱
I’m loving it I been using the build card with my balance and seen my score go in up not super but still progressing ! Loving it thank you current for this opportunity for people like me age 28 struggling to maintain credit and build it ! . This is perfect for Generation Z outstanding !!!
Yo imma get one of y’all’s cards
@@leogod9249 It’s our pleasure to help you in this journey. We are lucky to have you! ❤
@@rubyrunz1723 Welcome to the family. 👏
I really hate you credit gurus
Thank You 👏🏾😁💯
This card really work
Can I transfer money from my Current savings account to my builder card?
this really only helps your transunion my fico and others have stayed the same. like i spent a decent amount probably about 7k over the last 3-4 months and it did take my rating from higher end of poor to the lower end of good. my other scores havent been touched at all tho.
Does this card report to all3?
So pretty much you set up Dorect deposit through the current credit builder and it's treated like debit and credit card? Because I set it up at a regular debit so that every two weeks money goes into the account.
So essentially it’s a debit and credit card all in one? That’s what I’m getting from this, which in my opinion is awesome!
But it only reports to TransUnion
Yes, it is just like the chime secured card
@@gabeulrickson2496the thing is it o oh reports to TransUnion that makes no sense
How do I add money to it? It won't let me select from my reserve.... there's no option to add money. I'm confused...
Next video: Current Build vs. Chime Creditbuilder
Hey man, appreciate all the info! I just opened the credit build card yesterday. Is this better the help rebuild a credit score vs the Extra Debit card one? Please let me know if you can. Thanks.
Yea
Chime credit builder card vs current credit builder card !?? WHICH IS BETTER !!? Please need help deciding !
Me personally current is better.
I’d say Current
it depends. if you want to report to all 3 bureaus then chime credit builder, if you want to report to only TransUnion the current build card. it also depends which bank your using is it chime or current your main bank
I feel like maybe we’re over complicating it a bit. Doesn’t it just work pretty much exactly like the Chime Credit Builder card?
No, with Chime Crdit Builder you need to move money from your Chime banking account into it. With Current Credit it is attached right to your Current banking account and all you need to do is use the Current Credit card and it just pulls from the banking account. It's pretty seemless.
Are charges rejected if the savings account does not have sufficient funds for the reserve?
It pulls the money from your checking account and doesn’t let you overdraft, meaning if you had $3 and wanted to spend $5 you would get declined. It doesn’t ever take money from the savings account
I’ve had the card for like 2 months
@@MugiwaraReillycan u purchase an car or an house with it?
@@MugiwaraReillyso I’m able to just link my chase account to it and it’ll withdraw on its own from it?
@@MugiwaraReillyhow ya like it so far?
Have you heard of theexperian debit card ? Can you do a video review about it?
It only reports to Experian tho...
How do I setup autopay for build card for current
It’s automatically set up
So you have to an checking account I can’t just add money to card & spend it with the card to build my credit cuz I don’t wanna switch banks
In the Current app, you can add External Accounts to pull funds from your primary bank/checking account to the Current Checking Account. It takes about 1-5 business days to process the transfer of funds and costs $0 rather than a small fee to deposit cash at a store. You’ll be able to unlock instant transfers once you use Current. Funds inside of Current are FDIC Insured!
I think u can cause I linked my navy and it allows me to move money over I just haven’t done it yet
How many reporting agencies does it send your payments to?
Have you used this and seen your payments reported?
Only Transunion. That score is 90 points higher than my Equifax, but that’s a serious flaw.
So I can use my current buil credit card at atm to take out money?
Yes with no fee only on some ATMs 4000 of them and the USA
Sounds exactly like Varo Builder Card
Need the referral code
Do I need to get the current debit card and connect it with the current credit cards so it can transfer the money? Or can I connect my Bank of America debit card to the current credit card so the money gets transferred from my Bank of America card when I swipe the current credit card?
all you need to do is add money into the checking account and that is how much you have to spend with the credit card and it don't let you spend past that
It’s almost like a prepaid credit card so whatever you have in your bank is whatever you spend and no you don’t need a existing debit card. Just need it account to use the credit card
You can link it to any bank account, and yes it will auto withdraw money from your bank account to pay for whatever you are trying to spend but I'm not sure if it will work with an overdrafted bank account, however I do know it will not pull from any savings account with your bank so if you're putting money aside as soon as you get paid only the money in your checking account will be used for transactions with this card.
Current my new bank just signed up needed a bank
Does it report to all 3 credit bureaus and does it collect credit utilization?
The Current Build Card only reports to TransUnion.
Those it report utilization
How would the 30% rule apply to this?🤔
I have
Chime
Varo
Kickoff
Credit Karma &
Self
Like these cards, does Current effect the utilization score on your credit report?🤔
Do you like all those other credit builders you're using?
Narrowed it down to Chime, Cloe, Believe (Varo) and Self.
Add Credit Strong, Stellarfi, and Kovo, and so far, my credit mix is good and my utilization is roughly 7%
How many points has your self account raised your credit?
So can this replace my Chase checking account? Meaning, can I set this up to "Direct Deposit" my work check directly into this account?
Yes
Yes
Will other credit lenders look at the reported payments from current on your credit report as acceptable?
Only TransUnion right now. But later it will be all 3.
What credit bureau does current use?
i believe it’s the 3 major bureaus
its only TransUnion if you want to report to all 3 bureaus then i suggest chime credit builder or get a normal secured credit card
So can I use my build card with no money in my checking account?
Thats exactly why I came that exact question i think u can
Could this replace my Chime accounts?
Yes 100%
Yes
Don’t do it, it only reports to Transunion. So my Transunion is 90 points higher than my Equifax. Great but nobody only checks Transunion. Chime reports to all 3, I’ve only had it for a month so it hasn’t reported yet, but it will soon.
I withdrew some money from the atm with my current credit builder card. My credit score went down from it… I think.😂
Thank you
My question is, Will my Spending account be less than it was before? lets say i had 200 and i used my Credit Card and only paid 40, (160) is the 'reserved fund' be taken out from my account if i add more money too? 160+100=260-40(credit)=220?
I’m not sure if I’m understanding correctly but I think I can answer regardless (I have the card). Your reserved funds and checking account are essentially separate, once the money is transferred from the checking to reserved that transaction is over. The reserved funds only takes the exact money you spend so adding $100 to your checking wouldn’t affect your reserved funds at all. Meaning you’d have 260 in your checking because of the initial $40 payment
?Would you pick this over Chime credit builder
I have both just never used each
What about credit limit I use it to pay my bills and I’ve had over $1000 paid in auto pay my limit went from $0 to $300 lowering my credit score why is that ?
there isn't a credit limit the only limit is how much you decide to put into your checking account and you can't spend more than you have
There is no credit limit whatever you have in your bank is whatever you use
What credit places does it report to
Do I need to get the current debit card and connect it with the current credit cards so it can transfer the money? Or can I connect my Bank of America debit card to the current credit card so the money gets transferred from my Bank of America card when I swipe the current credit card?
All of them
So do you have to have a checking account with current to get the credit card?
EXACTLY
@melindahernandez8778 I find that kinda stupid but I guess I understand why
@@AmericanGangstaSociety2023 , ugh ..I thought you were calling me s--pid and reported you. My apologies. I certainly agree with you in this case. I'd rather invest in a credit union and open an account with them
@@melindahernandez8778 I just wish you could just get a credit card anywhere without having to open an account for a checking
@@melindahernandez8778 I would never call someone stupid
Mine went up 119 points in one month
Wow. Pay it with power bill or just spend money?
@@jordansnelson8052 both
is current worth switching from capital one 360?
We would say so. 😎
@@CurrentCard My current account is disabled because I used it out side of the state
How is the credit limit determined?
Credit limit is money u have in your debit card
This is a secured card so basically, the way it works is you put money into your current account, either cash deposit, direct deposit or bank transfer, and then you spend on transactions using this card, current will use money you have in your current account for these transactions and set them aside for the transactions, then at the end of the month, the balance is paid using the "reserved funds" and the paid off balance is reported to the credit bureaus on your payment history which amounts for 35% of your credit score as well as having positive "credit card" payment history is a BIG factor for lenders considering loaning you money
How can I put money on a credit card
Everything is on the app. It will tell you I think CVS can add money seven-11 does a map on the app that tells you where you can go to add money in and wake you can get money out from ATMs or you can use Direct deposit and it will help with their savings with 4%
So if I put $50 in my card and buy something for $40 it goes towards my bill right, but how much would my bill be? + would that hurt me cause I used most of $50 I deposited (like other cards give you $500, but you should really only use like $100)
Apparently, you don't add money to the card. It uses your checking account balance. If you use the card and spend $40, that much is set aside on reserve and when the bill is due, it is automatically paid from the reserve.
Remember you have to use the build card it’s the same thing as using or original card your just using it as credit pretty much and you will never have to owe them neither
What if there's not enough money in the account? How easy is it to deposit more money?
It’s not an actual debit card is a credit debit card so it’s different from an actual credit card whatever you spend. It will set aside and pay it off in the end of the month.
Nope, how much ever you spend out of the money in the account is what is "reserved" and what is reported as positive credit card payment history to the credit bureaus
I’m so confused 😮
Why can’t I use cash app as my bank on current…?
Cash App is a peer to peer service, and the debit card is also considered a prepaid card.
which credit reporting agencies does Current report to?
I asked the same question.
@@anthonyrude looks like it’s only Transunion
@@upperech3lon well that's not worth it then. Thanks for the heads up..funny how his "review" did not mention it
DO i need a direct deposit ?
no you can ad how ever much you want without direct deposit
Can we see Current vs SoFi?
In switching from sofi to current
@@thetruth7089 as relevant as this may be, its pretty pointless without some more information. Care to elaborate on why?
@@kanindev help build credit with the build card current premium plan is free now that’s the reason I didn’t eat them at first has overdraft free in case I need it
I just got my card almost a month ago so let's see if this works
Any updates ?
@@Sebasvgo update?
It helped me build my credit in the last two months I’ve had it but how do I use the credit side of my current card because it says that I payed my card off and not using 0 out of 300 so how would I be able to? It just feels more like a debit card
Swipe the credit card never use the debit card only use the debit card to load cash into it on the atm
You use it as a debit card and the money gets set aside to pay off the credit card
Is the card metal ? 🤔
No
So it’s just a damn savings cards
Would you give us a referral code ? 🤷♂️😂
You still need a referral code? I can give you one that would give us both $50 if you were to get $200 in direct deposits before 45 days
It literally dropped my credit by 65 points in a month... how is that even possible
My credit dropped 46 and I didn’t do nothing I literally just did what the card wants me to do any update on you??
@@akirakurusu9406 apparently if you use the credit card more than the previous month it reports it as " increasing debt" so it brings your score lower. basically, just spending the same amount of money every month may help but I have not seen the updates yet.
But you are wrong sir, there is credit check my credit score dropped 11 points because of it.
I feel like thats okay since it grows your credit so easily
@@luvtolieyou are right
@@MillyyKash 2 of my scores are over 700 lol and my 3rd 656..im happy with my results
I'M CONFUSION 😕😖😖😵😵😖😖😕😕😕😕
I have this card but I don’t know the credit limit I have. I know I need to watch the credit utilization so can you please let me know how that works with this card.
So basically there is really no limit you make one buy how much you spending on that card while the money in your account becomes you are not using the back money I think idk really😭
@@quells2talkative I get what ur saying but wouldn’t that mean we’re using 100% utilization?
Your daily spending limit for your overall Current account is $2,000. This is because both cards (debit and credit) share the same spending balance.
@@CurrentCard so how does the credit utilization work?
@@christiancejaa7604 it dosent have utilazation so in reality it dont help becouse it dosent report balance just that it was paid
This all sounds like an SALES PITCH BY A SALES PERSON!
But it’s not
this is a debit card
my credit score dropped 15 points why?
This doesn’t make any sense so it take my money and put it in reserves but I still gotta pay that money back which was already mine
Thanks for the question! The Build Card is a secured credit card that lets you start building your credit with everyday purchases.
The money you fund your account with is the amount you can spend on your Build Card. Each month, these funds will automatically be used to cover your due balance (if you have AutoPay turned on) or you can make a payment on your own. Either way, we’ll report your payments to major credit bureaus which can help boost your score over time.
@@CurrentCard so ur saying if I have 300 but I want to pay a bill that’s 500 I can’t don’t that
@@Xx2nd0verxX It appears that you create your own credit limit with your money. The point, it appears, is that it reports your payments as credit with on time payments while a typical debit card does no such thing. If you’re looking for free money then that’s not going to happen. If you need the help to boost your credit score then this may help you.
@@Xx2nd0verxX dude it’s a credit builder, the whole point is to force you to only spend money you have. What you want completely defeats the purpose
I don’t think theyre saying free money theyre saying how are you using the card same as a debit card but paying a balance at the end of the month that you already cleared with the merchant because the money was on the card already during a purchase. A conventional credit card the money is loaned to you and you pay the money back. With this card your money is already present so why would you pay at the end of the month??
Do u need proof of having a job im a stay at home father? Im trying to build up my credit cause my wife is the breadwinner
Then this is not a credit card... at all
The Current builder card is awful. Do NOT use it. Once your money is in the reserved there's no way to transfer it back to your primary account. That's what Current support told me. And if I deactivate my Builder card the money still won't go back to my primary account🤬🤬🤬
😮
Just use all the money on your current card then
There is a setting in there to where you can keep money from going to reserve
You must be a child, it's not a regular credit card, also you can turn it off. This card is just like a debt card that's how you should treat it
You use the credit card like a debit card, but it sits aside money to pay off the credit card
Does this give an inquiry on any of your scores?
No credit check to sign up. 🙌
My transunion score dropped 43 points after signing up and receiving card in mail.
My fico score went down 15 and went back up the next. I’m not sure if this is just my score fluctuating because I’m 20 with no credit or if it’s the build card affecting it (my score has fluctuated 15 for a couple years). If it did drop the score it wasn’t that much and payment history made up for it the next month. I’m hoping it goes up again next month because that will be a guarantee for me this card is working
It gets reported every two weeks I'm pretty sure
@@MugiwaraReillyhey has the card been working for you?