How To Climb The Credit Card Tier List in 2023

If you have ever felt overwhelmed by the Endless Options of credit cards out There this video is here for you by Watching just 15 minutes of this video You'll gain five plus years of knowledge So you'll know exactly which credit Cards to apply for and how to thoroughly Maximize every benefit the way I'm gonna Break this down is there are five Different tiers first tier you have baby Cards the little baby Emoji second tier You got beginner cards third tier you Have mid game cards fourth tier you have Premium cards and the fifth tier oh That's where it gets fun but you have The elite cards right there within the First tier and within the baby cards There are two different cards that you Need to know about this is going to be Secured and this is going to be student Credit cards so secure credit card is Like borrowing money from a friend but Then you pretty much have to give them Something valuable to hold on to until You pay them back for example imagine You want to borrow ten dollars from your Friend but your friend wants to make Sure they get their money back so you Give them like your favorite little toy Car or I don't know you you give them Like a mug like this right here as Collateral so that way if you don't pay Them the ten dollars back back they're Keeping your favorite mug pretty much

With a secure credit card you're giving The bank a deposit usually between 200 And 500 as that collateral to get a Credit card that way if you're unable to Pay the balance they'll just keep what You initially gave them the reason why People usually have to get a secured Credit card first is that they have no Credit history at all or they have Really bad credit and you need to show The banks that look they have a reason To trust you and that they won't lose Much from opening you as a new account User as you use that secure credit card Responsibly eventually the bank will be Like okay Brian's you know using the Secure card properly let's go ahead and Make it unsecured so they'll upgrade you To a regular credit card and eventually Give your money back that you used as a Deposit and say here is a credit limit That we will extend to you now the Second type of credit card within the Baby cards that exist is a student Credit card this build credit they Usually come with lower limits so They're not going to give you like a ten Thousand dollar credit limit it's Usually very very low it's very Straightforward where you're not going To get the most extravagant different Types of cashback or travel luxury perks Or airport lounge access but they're Gonna say you get X percent of cash back

And that's it no rotating category know This or that usually just a very simple Way for you to earn additional money From your credit card usage what I Really like about student credit cards Is the fact that they do something Called a good grades incentive and I've Done this I've participated in this many Many times where if you happen to get a 3.0 GPA they will give you like a 20 Statement credit back onto your account I remember back when I was still Attending Community College at a Montgomery College in Rockville I Remember there were people from the bank Trying to get all these students to sign Up for their card and they would give You like a free water bottle one of the Reasons why companies will also Advertise to college students is because Once you have a relationship or a bank Account or a credit card set up with a Certain company it's more likely that You'll continue to work your way up with Their other Financial products or down The road they'll be able to make money On other offerings that they give you Moving into the next year this is where Things get a little fun a little Exciting I actually did not have to go Through the student card route and I did Not have to go through the secured card Route even with zero credit history I Was able to first get a beginner credit

Card where I believe this is where most You guys have started to so beginner Credit cards are very easy to use still They have no annual fee so you don't Have to pay a single penny to hold them They're relatively easy in terms of Getting applied and accepted and on top Of that they provide you with a lot of Different basic benefits examples of Beginner credit cards are going to be The Bank of America Visa cash rewards Card you have the Capital One saver one Card you have the Freedom Card the Freedom Flex the freedom unlimited you Also have the Apple card and also the Capital One Quicksilver card as some Prime examples these beginner cards here Are amazing because some of them offer You very limited time promotions so as An example the Capital One saver one Card right now is going to give you 10 Back when you use ubereats or anything Related to Uber which is nuts because You can't even find that type of benefit On some of these mid-tier or premium Cards either that charge you a giant Annual fee another card that has become A staple and a favorite within many pro Credit card expert wallets is the Chase Freedom Flex this is because you're Still able to get five percent back on Rotating categories where five percent Is usually a very solid number to get Most credit cards are going to offer you

Anywhere from two to three even four Percent back so anytime you're scoring Five percent for a card that is Considered to be a beginner card with no Annual fee is usually very good so the First beginner card that I had was one Of the Chase Freedom products I held on To that and it also allowed me to Branch Into other roads which made it viable For me to get the Chase app I preferred Build up the chase Trifecta it builds up My credit score so if I wanted to Branch Over into things like American Express And get into some of their mid-tier Cards that was all completely viable too Within the mid-tier cards here are a few Things that you need to know one these Are gonna have Annual fees number two They are not going to be as easy to get As beginner cards and number three You're gonna need to know the benefits So you can maximize it fully a majority Mid-tier cards are gonna give you the Best benefit within the travel category And also the dining category it's also Within these cards where you can get Eligibility for some of the biggest Welcome bonus offers to exist take as an Example the Chase Sapphire preferred It's going to give you 60 000 points 60 000 ultimate reward points And if you're able to get a two cent to One point Redemption then you can find Yourself getting twelve hundred dollars

Cash back or as another example the American Express gold card I mean the Offers right now for this card is all Over the place but even if you're able To score something like 80 000 Mr points Back one to one that is eight hundred Dollars cashback now when you get a Credit card with an annual fee within This whole category you can also find That you get extended perks such as Warranty price protection you get access To exclusive events and you do get a Higher level of prestige just being Within this category overall the Benefits of mid-tier credit cards can Add up to be significant value for card Holders who use them frequently and know How to take advantage of these perks it Is worth noting though as soon as you Get into the world of credit cards with Annual fees you need to consider the Benefits to make sure that it's still Worth it to you you'll notice that on The screen within my examples I have the World of high card and also the Marriott Bonboy card the way that these cards Work is that they could be considered Keeper cards where I'm paying a 95 Annual fee for the world of high card But then I'm able to get a free Hotel Night credit every single year where the Rooms can be worth anywhere from a Hundred to two hundred dollars that Means I'm able to net over a hundred

Dollars in free value by just getting That one credit card room and not even Just knowing all the other benefits and Perks that comes with holding this card Like getting status upgrades but at the Bare minimum by just booking a free Hotel room and staying at that once per Year you're able to at least break even Now the next tier within this is Optional but I do need to mention it Because this is the pathway where it can Open you up for having tremendous Amounts of additional welcome bonus Offers and points now when it comes to Business credit cards here are some of The perks you can build your business Credit you can separate your business And personal EXP fences and you can also Do some very interesting things like Having a balance on some of your Business credit cards but it not Affecting your personal credit score at All the main thing though is that Business credit cards are going to give You a whole boatload of points and this Is how I was able to quickly reach a Million total points with just one of my Few accounts anytime you have a million Credit card points let me tell you that Sets you up for a very nice trip pretty Much anywhere in the world if you don't Know where to get started with business Credit cards I have a full video talking About the ultimate business credit card

Guide I've made a ton of videos within The last four years changing people's Lives giving them access to this type of Power so if you guys want to learn more About that be sure to check it out at The end of this video too moving forward Though within the fourth tier we have Our premium credit cards and this is Where things get a little spicy because It's not just keeper cards that you're Talking about this is where you have to Really commit and you have to learn and Know these benefits otherwise you can Start losing money take as an example The American Express Platinum Card which Has a 595 annual fee or the chase Sapphire Reserve which has a 550 annual Fee if you got these cards and you did Not use up any of the benefits you'd be Paying roughly a thousand dollars plus Every single year for not much else but Let me tell you where things get really Interesting it's with these premium tier Cards where you start unlocking the best Of the best credit card benefits I Personally own the platinum and actually The business platinum and it's these Cards that I find tremendous amount of Value from like I'll give you guys just A real world example you see you see This phone right here yeah just a little While ago my entire back of this phone Was cracked because I dropped it on tile And guess what Apple was charging me

About five to six hundred dollars in Order to get replaced and I didn't have Apple care I got this phone with the Payment on my American Express business Platinum card I paid for the cell phone Plan on my American Express business Platinum card and I also got it repaired On my American Express business Platinum Card normally a repair like that would Have costed a fair bit within my pocket But I was able to get it almost for free I just had to pay a 50 deductible and That is because one of the main benefits For the the American Express Platinum Card is free cell phone protection I Pretty much was able to get the entire Annual fee back from getting my phone Fixed through American Express this is Also not the first time that I broke my Phone and they covered it I broke my Phone another time I think it was like Three four years ago and I've also lost A pair of airpods and then they went Ahead and covered that too when we're Talking about some of these Elite credit Cards you get some of the very best Service protection and you get even more Than that so whether it's traveling and Trying to get airport lounge access or Whether it's me traveling and booking a Hotel but then them telling me Oh are You an owner of the American Express Platinum Card and you booked through the Fine hotels and resorts program let us

Upgrade your basic queen size room Facing the brick wall into their biggest Penthouse suite back when I was staying At the Ritz Carlton I don't think it was A penthouse suite but it was their top Room it was huge it was their Presidential suite and that was just one Of the moments where I was like wow this Room is like two to five thousand Dollars on their website and I stayed There for about a week and they gave it To us as an upgrade completely for free For just being a card holder it's Benefits like that where it's kind of Hard to quantify just because I'm not Taking notes every single time I'm Getting a benefit back from these credit Cards but let me make the point here It's these premium Tier credit cards Where you start feeling like a king a Lot of people what they consider their Holy Grail credit card is usually Amongst one of these four I will say Right now if 595 is a little bit hard to Commit you're not traveling that much But you still want a ton of travel Benefits for when you hit the road or You know you take a trip to the city Which is three hours away I would Probably recommend right now the Capital One Venture X card I consider this to be One of the most underrated credit cards For this year and if you guys want to Watch a full updated video and my

Reasoning on that be sure to check that Out at the end of this video too so Ladies and gents after you have your fun With the premium Tier credit cards the Last one here on this list the fifth Tier is what I call the elite tier now These are cards with the most exclusive Benefits rewards and perks and not a lot Of people are able to get these cards Not only do they offer some pretty crazy Benefits like the concierge service you Would get but they cost a lot of money In order to even hold on to so as an Example the American Express Centurion Card also known as the Black Card has a Ten thousand dollar Initiation fee and They also cost you five thousand dollars An annual fee so a total fifteen Thousand dollars at first year card Membership if you want to get the JP Morgan Reserve also known as the JPMorgan Palladium card this is gonna Have a 550 annual fee but in order to Even get invited you would need 10 Million dollars in assets under Management within JPMorgan Chase so I'll Say this even though most people Naturally want you know the most Expensive and the coolest thing at the Bottom of the tier list the elite tier Is not really where you're gonna get the Highest Roi within the credit card world I believe premium tier cards are we're Gonna find the most amount of value and

Within the mid-tier and business Tier Credit cards if you're able to maximize That you can take your credit card Journey so far in advance I think when You get into the elite tier unless your Net worth is over 10 million dollars and You have continuous income I'm coming in I don't think these cards make sense for Anyone if you want the JPMorgan Reserve Just get the Chase Sapphire Reserve if You want the American Express Centurion Card just get the American Express Platinum Card so ladies and gents that Right there is going to be my video on The entirety of the credit card tier List if you found any valuable Information if you enjoyed episodes like This be sure to let me know Down Below In the comments drop a like here if you Guys found any value at all and if at Any time guys if you are looking to Apply for a new credit card first of all Check out some of the videos I made here On this channel and be sure to check out Some of the links down below if you Somehow remember okay I gotta apply for A credit card boom Brian Jung comes to Mind hey it supports my channel a lot it Allows me to continue making great Content here and to continue investing Back in my team like my editor shout out To my boy Ben got some fire edits on This like always thank you all so much Again for watching this video be sure to

Check out some of the other resources Here on this channel and I'll see y'all Soon peace out