believe it or not not all credit cards are created equal this is mainly because every card has its own unique purpose benefits and annual fees that help customize who it’s best intended for this blog we’re going to go over my credit card tier list to give you a better understanding of how the entire credit card system works and how you can maximize each signup.
so let’s go inside my computer and talk to you about some of these credit cards and what you can do to get these credit cards level up and then achieve your wildest dreams my wildest dream is just you know travelling for free that’s nice wouldn’t want to do that you can do that with credit cards let’s go so we are inside of my computer right now and this is the visual of the credit card tier list of 2021.
now within the baby tier we have student credit cards secured credit cards and starter credit cards so the baby tier is really meant for any individual who may not have a credit score or if you have terrible credit and you shot it up one day which is completely okay a lot of people may have bad credit score don’t be too hard on yourself this is often times where people start sometimes people do end up having good credit scores when they begin but then over time they may not be able to pay off a certain credit cards you get hit like with a pandemic that nobody expected and then you end up lowering your score over time and then you have to start back from the babytierall the way up to get to the god tier so in this video we’re going to talk about what you need to do in order to climb up that credit card tier structure and we’ll also share with you some credit score recommendations and pretty much what you need to know in order to just level up so for number one we have student credit cards and what you need to know is that this builds credit you get extra weird incentives like if you get good grades and.
let me tell you i didn’t have to proveto them that i got good grades because ialways wasn’t you know a straight astudent like some of you guys may expectme to bei still got my good grades incentive soi know that there are some companies outhere which i’m not gonna name thatstill automatically give you about 20every quarter which ispretty awesome now under that i have theword no bs and that’s because withstudent credit cards it’s alwaysstraight to the point they make it supereasy to understand it’s a creditbuilding card if you’re a studentchances are you can get approved andthey do approve a lot more peoplecompared to your ordinarycredit cards now these cards you don’thave to worry about pointsmiles earning statuses transferringi know that stuff can be pretty hecticwith student credit cards it just getsyour foot in the door and oftentimes yougetfree little goodies which is amazing nowto us student cards aren’t reallysomething that we focus on but you haveto realize that this is oftentimes oneof the mostimportant products that a lot of thesecompanies may have because studentsallow them to get their foot in the doorthis is why if you ever go to college orcommunity campus you’ll find thatthey’re trying to advertiseto the younger demographic of 18 and 19year olds because if they’re able toswoop them inthis early later down the road they cancontinue to monetize off of somethingcalledlifetime value which is really importantfor a business to sustainover time because it allows them tocontinue to monetize without having topayfor additional marketing expenses nowthe next
thing we have on this listis secured card mentioned in that babytier of credit cards that we firsttalked aboutwe have the capital one platinum here asan example oftentimes i don’t recommendcapital one just because they area i would consider a sub-tier creditcard company some people may argue thatit’s not because they do haveother products in their lineup but withthe capital one platinum card you cansee that a secured card works a littledifferently so as you can see on yourscreensecured credit cards offer an initialcredit line and in order to get this youfirst have to pay a security deposit onthat card so that’s why it’s called asecured cardso the credit card a bank or financialinstitution is going to lend you moneyand thenyou have to pay them back otherwiseyou’re going to pay interest and yourcredit score is going to dropwith a secured credit card because a lotof the people who are trying to applyfor thismay not have the best credit or any typeof credit history at all and they don’treally knowhow a credit card works or they do andthey choose not to follow the rulesoftentimes the product that you may getrecommended is a secured card meaningyou put down a security deposit say 100200 or even 500and that becomes your credit limit sothis pretty muchreduces the risk or the collateral thatthe bank may faceif you do decide to run off with thatmoney and it allowsyou to build your credit and allows themto be safe while also giving you achance to do thatnow with the security deposit you do getthat money back eventually you just haveto show them that you can make routinepayments and if youhave that credit history where you aremaking on-time payments they’re going togo ahead and reward you eventuallywith the next card on this list so thenext cards on this list are going to bethe starter cards
i still consider thisin the beginnercategory we have the bank of americavisa signature card this is a verypopular card that i know many peoplestart out withpretty much any time i walked aroundcollegeall of my friends had the bank ofamerica red visa card and i know some ofthem still carry that so that just seemsto bea more popular card i do believe it’sbecause bank of america is prettypopular at least in my area in marylandand many people just end upgetting sucked into their ecosystem nota bad lineup of cards but definitelydoesn’t come close tothe cards that we usually talk about onthis channel that we’ll get toin the later part of this video now asyou can see with the city double cachethe capital wants quicksilver and wealso have the apple cash card so allthese cards have no annual feevery easy to use citi double cashextremely extremely simple for anybeginner trying to get into the spaceand if you guys do want to download thisguide i forgot to mention this earlierif you want to download this guide iwill have a link for it down below inthe description if you click on any oneof these links hereyou’ll actually go ahead and open up theapplication to some of these creditcards now i never ask you guys to pay meanything or tobother i don’t know signing you don’thave to give me any type of money butbut in exchange for this free content ifyou guys do want to support this channeli have affiliate links down below whichdoes help out the channel so i cancontinue to make content like this ifyou don’t want to use it and you justwant to applyregularly through google that’scompletely okay but by doing that youdon’t you don’t help out anyoneif you want to help out my channel forfree just by taking a few linkseasy freeway link down below in thedescription thank you all so much againif you guys have done thatmoving on we have number two the rookietier credit cards now these are still noannual feecredit cards but these are frankly theones that i recommend because they are astepabove so for number two on the rookietier we have the chase freedom cards the amazon visa prime and a few american express cards these cards all have no annual fees and what makes them a rookie tier card is that you’re still not playing around with points they’re all generally cash back but the benefit here is that it gets your foot in the door and it really allows you to start working on some higher tier welcome bonuses.
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as you know one of my favorite cardsright here the chase freedom flex theamerican express cash card is anotherfavorite as well so there are somepeople out here in the credit cardindustry who will never touch any typeof annual fee credit cards and they endup just chilling in the rookie tieri don’t think there’s anything wrongwith that but i don’t agree with thefact thatyou cannot find value in any of thepoint earning travel cards and that thisisalways the better way to go i believe ifyou’re really frugal or if you’re reallyon a budgetyes this could make sense or if younever travel at all and you hate itthen i could really see this being aviable option but in terms of thegeneral public and viewers trying to getinto the space if you cut out any of thecardtiers after the rookie tier you’rereally limiting yourself in optionsnow if you’re trying to get approved forany one of these cards i do recommendyou to have a score of at leastat least 620 that’s as minimum as iwould go i know there are people with a620even a 600 credit score that can getapproved for this butif you have something anywhere in the680 and up preferablypreferably preferably in the 700score range you’ll get approved foralmost every single card out herebut with the rookie tier you don’t haveto worry about much you can just get aproof of the cardfreedom flex is a great great welcomebonus american express also does toowith some of their entry-level cards andit’s just a way for you to get intotheir ecosystemso for the next on this list we got themid-tier credit cards now this is whereit starts to get a little bit of fun allright i want to say there’s a little bitof fun in this so with the mid-tiercredit cards you’ll find that you’regoing to be paying a little bit of anannual feeanywhere from 95 to 250which is the ideal range you won’t seeany annual fees often times in themiddle like 50is very rare that i’ve seen it’s eitherzero dollars or ninety five dollars andthen anything above thatnow some of my favorite cards on this list the american express gold hands down one of the best cards even with all the upgrades that they’ve made and the available rose gold option simply simply amazing it’s one of the cards that i continue to hold regardless of what happens in the world pandemic ornot travel or not the gold card stays in my wallet because it continues to offer great benefits every single year next to that we have the chase.
sapphirepreferred the american expresscash preferred we have the marriott bonvoy we have the american expressbusiness cash and the world of hyattcard as well so the mid-tier cards whatyou have to realize is you do need aproper credit score i would say at least680 preferably in the720 range but we have seen some datapoints of people getting approved forthese with a muchlower score i think it really justdepends on the climate of the worldwhere we arein terms of people getting approved andif things are going to open backup if banks are feeling confident in theway the economy is movingso with these mid-tier credit cards youhave to realize that the welcome bonusis gonna bemuch more significant they are gonnagive you much more extended timelike american express gold card is doingwith their platinum series as well withsome of these cardsalthough you do get a higher welcomebonus you do have to realize you’regoing to be paying a muchhigher minimum spend requirement feeassociated with these cards so you’rereally just stepping it upif someone who has a chase freedom flexis a college student or a beginner andthat fits their profilethey may want to consider getting theirfirst job and then moving over into someof these mid-tier cardsbut for me personally i actually endedup getting my chase sapphire preferredvery early onwhen i was working my first job i had myamerican express gold card as soon asthey came outwith their revamp while i was stillworking on my first businessso these credit cards don’t discriminateon how old you arehow much money you have to make itreally is dependent on what your creditscore is and if you havestable income or not now so far we wentfrom starter to rookie to mid tierafter this okay this is where it gets alittle fun so this is what i wouldconsiderthe god tier cards and you’ll see theamerican express platinum card with a550annual fee the business version of that595the hilton honors 450 and the csror the chase sapphire reserve at 550boy oh boy do these annual fees continue to go up but these are really some of the best credit cards that you can get if you are travel enthusiasts and you want to value and maximize all your point earning categories so the platinum card and the business platinum card are two cards that i hold currently in my wallet right now and every single year since i’ve held this card american express has given me positive roi or return value with these cards now some of these cards are gold cards for people and you would often think with a higher annual fee like this you’re going to have to need an 850 credit score there is no card that requires an 850 credit score you can get approved just fine with a 700 credit score with some of these cards it depends on what you’re looking for i don’t recommend you to apply and sign up if you don’t know all the benefits and if you don’t know if you’re going to be able to recoup all of the initial investment that you pay on the annual fee for these .
cardsnow the god tier cards are definitelysomething that has helped metremendouslyin my credit card journey and as just anindividualbettering their financial life it justopens up so many more benefits conciergestatusfree perks free travel perks hotelupgrades marriott gold hilton goldman even the insurance and the warrantyprotection that you get with some ofthese cardsif i broke my iphone i wouldn’t beconfident in calling offyou know the chase freedom line althoughthey do support it nowi i wouldn’t be that confident with theflex card but if i didbuy my phone with the platinum card andfor some reason someone steals it or ibreak it a month laterwith american express and some of theseluxury cars they just don’tbat an eye and they don’t question youon some of thoseum incidental uh rewards that you wouldpick up on some of the purchaseprotection and warrantycoverage that you get with a lot ofthese credit cards now although god tiercards look great and it doesn’t seemlike there’s anything after that thereactually is so something i want to talkabout were what i consider the elitecards or the more prestigiousthe so elite credit cards are ones thatyou need to get invited foryou can’t just apply for it and thinkthat you get approved you have to meet .
acertainspending requirement or have a certainamount of money in your bank accountso the jp morgan i believe it’s 250 000or a quarter million dollars in assetsthat jp morgan manages for youso if you are a private client with themthey will often timesoffer you this card if you’re able tomeet that minimum requirementthere are other finance youtubers likegraham who made a full video talkingabout the jp morgan cart and how it waslike the 10 million dollarreserve car or things like thatif you have a quarter million dollar networth and you have good connections youcan actually requestyour investment advisor to help you outand get this cardnow the american express ontario card isa much more different story you have toget invited for this there’s a linkto a website where you can actuallyapply to get invitedmost people don’t get seen on that ithink they just have it there so peoplecan have a little bit of hope and itkind of values the centurion card just alittle bit more because it raises theawareness that most average peoplecannot get it now the elite tier cardsare definitelythe goals that many people have commentdown below if you would love to get oneof these cards or if you just don’t careat allthe american express ontario card comeswith a very heavy annual fee and some ofyou guys just may not care about havingthings like thati’m definitely curious to hear what yourthoughts are like i mentionedwith the god tier the elite tier creditcards they don’t require you to have acertain credit score you just need tomeet a certainincome requirement and whatever thealgorithm’s profile has youdetermined on on what type of person youare what type ofincome you have that’s when they’ll sendyou the invite to get this card so thatwas my video right there of the creditcard tiers of 2021i think it’s obvious to say but i needto mention okay so hey guys uhmy camera died while i was recordingbecause it ran out of storage and ididn’t knowuntil i just started editing this video
right nowso i don’t want to scrap this entirevideo and i’m just gonna have my finalthoughts included after thisand i’m just gonna mouth what i wassaying in the videoor something i’m gonna figure somethingout all right so i’m sorry for uh thispart of the video but uh unfortunatelymy camera died and i justdidn’t knownot all credit cards were included inthis video i just mentioned some of mypersonal favorites if you guys didenjoy this video and you found ithelpful don’t forget to smash that likebutton down belowand i know about 80 percent of peoplewatching this video aren’t subscribed somake sure you guysgo ahead and subscribe to this channelif you guys love learning more aboutcontent just like this make sure youguys go ahead and check out the linksdown below in the descriptioni will have a link to this powerpointpresentationif you guys want to go ahead and checkthe visuals out there you can also clickon each card oreach title frame and it will take you tothe links for these cardsyou don’t have to use them but if you doi just want to say i appreciate thatand i appreciate every single one ofy’all watching this video on top of thatdon’t forget to check out weeble you canget two free stocks one valued up toeighteen hundred dollars not too bad andi’ll just have some other free linkswhere you can earnsome free cash as well follow me over oninstagramcredit brian follow me on twitter brianjungy thank you guys so much again forwatching and until next timepeace out.