How to Climb the Credit Card Tier List (2023)

So if you've ever been swamped by the Mountain of credit card options and you Didn't know where to start this is the Video for you so in just 15 minutes I'm Going to compress over half a decade of My own learning and mistakes into a FastTrack guide through my custom six Tier credit card strategy that has Allowed me to rack up millions of points Get over 20 different credit cards and Has allowed me to use those to travel The world practically for free now think Of this as your own custom step-by-step Guide that's going to show you exactly Which cards to go for and how to squeeze Every last benefit out of them not only That but we'll be explaining the tiers So clearly that you'll have an idea of How the entire credit card World works So here's how we get started between the Credit card tier list I'd say there are These six main tiers you got your baby Cards your beginner cards your midgame Cards your business cards your premium Cards and your Elite cards your baby Tier cards are going to be people who Got terrible credit all right if you're Just getting into the space whether You're a student or you've had some bad History with credit before this is Probably where you're going to start Most instances though even if you're new To the credit card game a lot of people Will actually start at tier 2 as long as

They've had no previous bad encounters With these credit card issuers for your Beginner tier cards I'd also consider This to be your no-brainer tier because All these cards have $0 in annual fees Meaning it's only positive upside that You get for your midgame cards if you Stay at a hotel night maybe even once a Year this category still makes sense for A majority of the people within tier Three you're going to get more into some Of the annual fees that you pay but this Is really where a lot of the benefits Start evolving and coming up the fourth Tier is your business tier these credit Cards are a bit more difficult to get But they are so worth it because you can Be maximizing your point earnings to a Whole different degree the tier after That you have your premium tier cards so These are going to be your luxury fancy Metal credit cards that offer you the Best benefits possible and then your Last tier you got your Elite cards those Cards are the ultra baller cards that You probably will never see in your Lifetime and only a select few people in The world have them with all that being Said let's work through the tiers go Over what cards fit within those tiers How they Stack Up and progress through This tier system starting with your baby Cards you have three main products the Secured cards the credit Builder cards

And your student cards generally a Secured card means you've had some runin With a credit card company where they're Literally afraid to lend you money in Some instances it could be because this Is your very first credit card and banks Are a bit more sensitive at this time But even from my own experience I was Actually able to get a beginner tier 2 Credit card without ever having to go Through the Hoops now if you don't know What a secure credit card is it's very Straightforward just think of a prepaid Credit card but with the twist these are Meant to help you and eventually it Could evolve into an unsecured credit Card which is just a regular credit card That we know today for secured credit Cards issuers will often say hey you Need to put down a deposit of $100 to $500 and that actually turns into your Own credit limit the banks do this this Because that deposit you make ends up Becoming collateral so if you end up Ever scheming the banks and you don't Pay off your card on time they're just Going to keep the amount that you Deposited these cards are very Straightforward just pay your balance in Full every single month over time you're Going to begin to build trust with your Bank and in turn you improve your credit Score and then get a better card the Second card here is a credit Builder

Card these are fascinating just because They're coming up more within the space Recently as an example Chase recently Released a new product called The Chase Freedom rise the way I see this product Is just think about yourself playing on The JV team before going up to Varsity a Credit Builder card is similar to the Security guard but instead of putting a Security deposit down that's connected With the card you're putting your money Into a connected checking account with That bank by doing this you're going to Be improving your chances of getting Approved and this card is best meant for Someone who doesn't have terrible credit But you are still a bit new to the space Taking a look at this specific product Example even on the home page of this Card it's noted first credit card Increased your approval chances having a Chase checking account with a balance of At least $250 will increase your chances Of getting approved now the third baby Credit card is going to be a student Credit card this builds your credit Easily it's really meant for students And they usually come with lower limits But they're very straightforward and Getting started with and they're also Great because they give you little Incentives like if you get good grades You let them know and they'll give you 20 or $25 back student credit cards are

Still pretty popular just because the Earliest that you can get a credit card Is generally when you're still a student So a lot of these Banks tend to promote These student credit cards to people who Are still in college moving on we got Our tier two starter credit cards and This is just a bit more level up with These cards you're now going to be Entering the world of getting no annual Fee cards with welcome bonus offers Generally these cards are still very Easy to use they're very easy to get Approved for as long as you have a Decent credit score and a lot of Different issuers have these tier tier 2 Starter credit cards to get people Within their ecosystem now a lot of People assume that tier 2 starter cards Because it's a lot easier to get these Cards are not that good but that is so False there are people who end up Getting 20 30 40 plus credit cards and They only get tier 2 starter credit Cards because they love the whole cash Back no annual fee game some of the best Cards on this list is going to be the Capital One saver one card the freedom Flex card the Apple credit card is not Too bad okay if you know how to utilize It properly but I would say this top Tier right here Bank of America Cash Rewards Card Chase freom Flex capital And sa one card that's an OP setup

Moving on you got your tier three credit Cards this is where things get Interesting because the annual fee now Starts going up so this is the amount That you'll pay every single year in Order to hold these cards and in Exchange for that they're going to be Giving you other credits and benefits That you need to offset in order to Break even on the car it's usually Between this third tier where cards Become a bit more powerful in allowing You to earn in different special Categories such as as travel dining Groceries and more this is also the Point where you can get even things like One free Hotel night as an example with The world of ha card or the Marriott Bonvoy card but these cards are Generally really good for someone Working up their ranks the great thing About mid-tier cards is that they all Have some pretty generous welcome bonus Offers so if you spend x amount you're Going to be getting 60,000 points which Is on the equivalence of $600 cash so For at least all of these cards even in That first year if you're getting that Welcome bonus offer you will be coming Out on top with the ROI so what that Means is if I pay $250 a year to hold This card but I get the welcome bonus Offer of $600 with the gold card you're Still coming out net positive by

Significant amount what's great about Mid-tier cards is that you don't even Have to hold these products forever you Can always downgrade your cards you can Cancel it after a certain amount of time Or you can product change into different Offerings within the space moving on you Got your tier four credit cards and this Is going to be your business credit Cards which is pretty much an expanded Version of your mid tier cards I Personally think business credit cards Are great but a lot of people get Intimidated by these because they're Like yo Brian I don't got a legitimate Business I not making six figures with My Shopify Drop Shipping Store that's Completely okay because a lot of people Fail to realize that if you have ever Walked a dog before if you're a sole Proprietorship if you've ever done Uber Eats or you're an instacar driver on the Side you actually qualify to be a Freelancer which is Under the Umbrella Of being a business owner now business Credit cards are fantastic but generally Their minimum spend re requirement on The welcome bonus offers is fairly High Meaning instead of paying just $3,000 in 6 months in order to get the benefit You'd have to pay anywhere from 5 to1 or Even $155,000 to qualify for some of these Card products on the other hand though

Generally businesses spend a lot of Money so most people have no issues Hitting this and you also get a much Higher welcome bonus offer in return you Also notice with some of these business Credit cards they actually have no Annual fee so just realize that the Annual fees aren't fully linear either Two of the best products at this moment Is going to be the ink business cash and The ink business unlimited and if you Guys are looking for more details on how You can get approv for business credit Card I made a full guide on that link Down Below in the description too moving On you have your tier five premium cards And these are usually the cream of the Crop they are some of the best cards to Exist but they come with a hefty annual Fee as you can see the Capital One Venture X Card $3.95 and it goes all the Way up to the AMX platinum's annual fee Of $695 per year to hold now here's the Thing with these credit cards if you Travel a decent amount or say you have Something called a player two where you And your spouse your husband your wife Whoever it is you guys can actually work Together in getting welcome bonus offers Or maximizing the benefits across Different cards now someone who owns Multiple premium cards the chase at fire Reserve the MX Platinum even the MX

Business Platinum which is in my wallet Let me tell you if you travel these Cards can give you so much benefit if You're a bit more conservative you don't Like taking huge risks or you don't Travel I don't see a lot of you finding The valant tier five credit cards but Even if you take one big trip per year And you want to make it as luxurious as Possible generally you're still going to Be getting outsize value on these cards Now generally with your premium Tier Credit cards even though these are more Heavily gear towards travel you can Still break even if you're someone who Stays at home now that's not without Saying that traveling is going to make It a lot easier to redeem your points But at this level I definitely make sure That you're fully utilizing the benefits Otherwise those ual fees can start to Add up against you now at this point We're at the final sixth tier and this Is going to be your Elite cards and Within this you only have two you have The AMX interon card which has an annual Fee of $5,000 per year with an Initiation fee of $10,000 and then you Also have the JP Morgan card with a $550 Annual fee and in order to even get Invited for any one of these cards you Need to meet their minimum requirements For the MX Centurion card this is going To be you have to spend a certain amount

Per year and that's still not going to Guarantee that the they invite you to This card with a JP Morgan Reserve card You need to have $10 million in assets Under management with JP Morgan Chase And even on that instance they still may Not invite you either now these cards Are a bit more glorified but they do Come with exclusive benefits like having A concierge service line where you can Contact them for some pretty interesting Stuff we've made multiple videos about This but the ones that pop into my mind Are like stories where pretty much Someone needs to get tickets to the Justin Bieber concert but they're all Sold out so the Centurion rep like Works Their magic and gets them these tickets All of a sudden or an instance where Someone was about to propose to their Girlfriend and they wanted to get Flowers so AMX went ahead and got a Helicopter and dropped off flowers to Him I mean some of this stuff is Ridiculous I don't know if half of it is True but when you do get a card like This that so very few people have it Makes you wonder it makes you wonder now A few things to note about all the cards That I mentioned it is not going to be Progressively harder the better the Cards get the only cards that are Actually hard to get are your Elite tier Cards but but these are cards that I'd

Even tell you that they don't really Make sense for your average person to Hold when you're paying these high Annual fees like for the Centurion card $5,000 a year and $10,000 in initiation It's really more of just a flexing card Other alternatives to this would go back To the tier five cards like the Platinum Card which Compares very well to the Centurion card or even the Chase Sapphire Reserve which Compares very Well to the JP Morgan Reserve card it's Also very important to note that the Difficulty level of getting a certain Card is going to be different for every Single person although this is organized In a tier system of where I see the Value in that can also be subjective for Others another instance is it can be a Lot easier to get an AMX platinum card As opposed to a Bank of America card for Others it could actually be the reverse Your miles may vary depending on your Own credit score and where you are Within the journey but the general rule Of thumb to find success and to make a Lot of points is to work up the tiers And the ranks you could go out of order Where if you know you got 10 different Family vacations coming up go get the card go get the reserve card and Then eventually just work your way Through some of the no annual fee cards So just note that there is no particular

Order in this now if you want to learn More about my personal strategy which Credit cards I applied for and Everything else you need to know about The credit card space be sure to check Out the next video here thank you all so Much again for watching this video If You guys did enjoy it be sure to check Out the links Down Below in the Description if you're looking to apply For any one of these cards those links Here will directly support this Channel At no cost to you if you haven't yet Subscribed subscribe to this channel we Got a lot of bangers coming out and I'd Love for you guys to be a part of the Jung Dynasty thank you all so much again For watching this video and until next Time peace out