All right so introduction, who am i and why, should you listen to me this is me right here, all right guys, so just to introduce myself, my name is brian. I have over 250 000 subscribers on youtube. The reason why that's significant is because a majority of those subscribers came from me posting credit card content for the past two years. I've helped hundreds of thousands, if not millions, of people educating themself in the world of credit cards and finance.

So my subscriber count is kind of like the social proof that i have with the amount of people that i've influenced. If you don't trust me, you can just go on my youtube channel and click through some of my older videos to see what i am talking about. I'm also the founder of tcs. It's a facebook group.

We have almost 30 000 members on there and i have 15 plus credit cards myself and i've accrued well over a million points in under two years. Right now, i do believe about 1.5, maybe close to 2 million points and next slide. I was a speaker for a conference, it's known as finance buzz. If you all click on some of these uh links, you'll be able to see what i'm talking about just so you guys have proof of who i am.

I think it's always important to know exactly who your teacher or educator is. I have been featured in forbes, consumer affairs, wwd and cnbc. Just click on any of these. It will take you to my website and you can go ahead and see exactly what i'm talking about right there.

One last thing i did do an interview for a netflix documentary show it is actually pretty popular uh, but because they have not been released. Yet i can't say exactly what the name of it is. I mean instagram, post uh, saying um i was in it and they emailed me telling me like. I can't be doing that right now until the episode comes out, but that's just like another bit of social proof in this space.

Just for you guys, when that episode comes out, i will be posting it over on my instagram. So go follow me there and i might do like a whole episode of me, like reacting to my scene in that documentary all right, so we have some free gifts and resources that you guys can check out as well. We have the facebook community, like i mentioned a little earlier in this video. We also have the discord.

It is completely free to join. If you guys, click on the presentation, it'll actually give you the direct link in order to sign up for what i am talking about, i will have the download link for the ultimate guide complete for free link down below in the description. So if you want to follow along - or you want to share this presentation with someone else, you can go ahead and do that and follow along or you can just simply just watch this youtube video everything will also be linked down below in the description alongside free Money stocks, credit card referral links, they support my channel as well they're at no cost to you. If you don't use those links, it's completely completely.

Okay, if you want to take your friend or your sister's referral link for some of these credit cards, i actually recommend you guys to do that, go ahead and help out your family member. But if you want to support this channel - and you don't have any family members or friends that have some of these credit cards where you can use links for you can actually go ahead and click on some of these to use mine so right here, if we Click on my top 10 credit card list, it'll actually give you the list of my favorite credit cards, the ones that i personally use and it'll also take you to some additional links. So i have random stuff in here: acorns ebates uh 250 dollars in bitcoin with block buy two free stocks with weibull. So all of this link down below in the description, if you guys want to support the channel okay, i do have to mention we do - have an advertiser's disclosure just to let you guys know just to be transparent.

They do give me a small commission, you don't have to use it if you don't want to okay. So for this video here's the outline on what we're going to talk about. So first we're going to be talking and discussing the benefits of credit cards and why it's so important number two we're going to talk about the do not rules of credit number three we're going to be just going over how you can get started number four before We even talk about which credit cards are the best. We have to understand the basics of credit, because it's it goes a lot further than you actually would think we're going to talk about why credit is a lot better than debit.

I know i have a lot of beginners out here who are probably transitioning over from a debit card, so we're just going to be covering all of our basics and make sure that you at least know the proper fundamentals before we get into some of the harder Things we're going to get into credit score 101. It's incredibly important to know exactly what makes up your credit score if you ever want to get a house, if you ever want to finance that dope whip okay, you're gon na need to know exactly what makes up your credit score number seven. Most importantly, we're going to talk about how to make money with credit cards, there's no point in getting these cards if you're not gon na make money if you're not gon na benefit from them. So we're definitely gon na be going over.

That number. Eight we're gon na be going over the multi-tier credit card system. This is something i personally made okay, this is all things that took me a very long time in order to figure out the pros and cons, so i can give you guys the best amount of information. On top of that we have the god tier credit cards.

Some of the cards that i think everyone needs to add into their wallet. We'll talk about number 10: how to apply for your first credit card number: 11 credit card sequence roadmap, so which credit card you should apply for what you should get after that number: 12. Unlocking your card's full potential, no point in getting these cards getting approved, having the best ones. If you don't know how to unlock the full potential, we're also going to be talking about point redemption.

That is another important aspect. If you want to fly for free, if you want to travel the world, whatever benefit you're looking for, it really starts with knowing how to redeem those points and then number 14 be a paladin. I hope i spelled that right right there, but being a paladin just means you're wise. You know exactly what to do next and you're, just smarter than you were before, alright guys, so we are now in the next slide, and this is benefits of credit cards.

To start out number one with convenience very easy credit cards are just simply a lot easier and more convenient to use than if you're, using cash or even a debit card, which comes with a lot of compromises. If you aren't liquid, if your paycheck isn't rolling in and you have a debit card in your wallet and you might go negative on a large purchase credit cards, don't give you that type of limitations. They do come with credit limits which we will discuss later on. In this video, but they are just way more convenient in terms of trying to pay for different items.

Number two security: if you lose your wallet, if someone pickpockets you and you only had a debit card in there and that was access to your main checking account, you have pretty much lost that money. Okay, if someone pickpockets you and you have credit cards in there - that money that they take or that those charges that they rack up, they all go into pending charges that the credit card issuers at this at an instant moment, they will go ahead and make sure That those charges are cancelled, it's not your money. When you have a credit card, it's the bank's money, they're going to do everything they can in order to make sure that they are not losing losing out on money to a lot of the scammers or pickpocketers or whatever the case may be. So you actually have a lot more security, a whole new layer compared to if you're, using cash, which is gone or debit cards, which is pretty much gone as well credit cards.

If you lose it, you can just cancel it. You can lock that card. There's a lot you can do if you happen to ever lose your wallet now. Credit cards also come with free money.

Free travel, free food, it's all just free stuff, so free money comes in many different ways, whether it's cash back, whether it's a welcome bonus which we'll talk about or it's additional benefits. So a good example is my american express platinum card. Oftentimes it'll give me an amex offer where, if i shop at a particular store like home depot, or they recently had a best, buy promotion, if i go to best buy and i spend fifty dollars they'll give me fifty dollars back, you can get free travel with Your credit cards, you can get free food with your credit cards now with american express cards or even other issuers. You can find that you're able to get different types of food credits to like ubereats, grubhub, seamless, many different restaurants as well now for number six.

There is a community aspect behind owning credit cards as well. You'll realize that the travel industry is actually pretty dang. Big and you'll meet a lot of great people within this industry, and some of them are multi-millionaires. Some of them are just college students.

Some of them are teachers, nurses, it's a huge, diverse group which i've also seen within our facebook community and just the youtube community that i've built over the past few years, and it's amazing. You can find connections anywhere if you're trying to become an entrepreneur. You'll oftentimes meet someone who is very successful in there, and the community aspect is just amazing: i've had instances where i'm traveling out of state and i run into people who are also in the credit card hobby. So it is absolutely amazing.

I think whenever you're, making free money and - and you have like a common interest with other people from around the world, the community aspect just comes naturally, and it's awesome number seven flex value. This is pretty much owning some of these credit cards and just knowing that it does come with a little bit of prestige if you have a janky little debit card from wells, fargo or something it's not the same as if you're slapping down an american express, platinum Or even a centurion card, so it does give you a little bit more prestige. I do have a lot of metal cards and i do have a partnership with a company that can transform any plastic card into a metal card. They're called lion credit card um.

I will have them listed down below in the description as well. If you guys use my link, let them know i sent you. I know the owner of that company. Really good.

I've been using him for the past few years and i can tell you that i've made some incredible business connections and networking, and i know it's not too important, but i do get compliments all the time. On my credit card and just people asking me what i do, why i have this and things like that, so you definitely get a little bit more respect if you care about those things not a huge deal. But if you want to sign up for something like that, i have it listed down below in the description of my video. It does also come with purchase protection for number eight, as a benefit of credit cards.

Purchase protection is absolutely amazing, so i've had this instance before in the past i bought a pair of apple airpod pros. You guys know how expensive they are. You don't want to lose them at all. I actually went ahead and lost one of my airpods.

All i had to do is call american express because i put that purchase on my platinum card and instantly. They sent me a credit back for the amount that i got and i was able to buy a new pair. I made a youtube video on that. A long time ago, as well, if you buy something you want protection or you want extended warranty, it doesn't beat what the credit card companies can offer to you.

So if you are buying a new macbook, if you're buying a pair of shoes and somehow it goes outside the return, warranty call the number on the back your card, they will help you out. It is amazing, so for number nine concierge. This comes with some of the more elite credit cards, and this is pretty much like having you know in batman when you got alfred and he's got his little waiters thing and he helps you with whatever you need. This is kind of like that he's not going to be physically in there in person, but if you need a digital concierge, when i was back in los angeles before the whole pandemic hit, i actually used this a few times.

There were a lot of expensive restaurants. I was trying to eat at, but i didn't make a reservation too. I called american express concierge and they got us seated uh that same day, and i i called the restaurants beforehand. They said i couldn't american express concierge, went ahead and did that for me uh for number 10.

There are private events, whether that is within the community or within the events that the credit cards hold so chase. Often has this american express had some pop-up stands, especially in new york too. They just give you like free food, free goodies and, if you're at, for example, like a car show, so i was at sema, it's one of the biggest car shows in vegas. They actually had an american express little uh rest area.

Where you can chill in there sit in there. You can use their wi-fi, get free food get free for free drinks. It was absolutely amazing. I went ahead and did that and just by trying to get in the ticket of requirement was showing them that you had an american express card under your name, so you do have access to things when sports begin to open up american express chase city capital, one A lot of these credit cards have their own box office seats, so you can buy it through the bank and they will give you some vip seats, which is awesome too so for number 11.

This is going to be membership perks. Now you can get a ton of different membership perks, just off the top of my head. I have ubereats gold that came for free or i have a membership subscription now to the com app with american. Express.

There are always these random type of membership perks that come along with it and if you own certain cards, they will give you status at hotels now in order to get status at hotels, it will often take you multiple trips at that particular hotel. Within a span of a year, in order to get that status, so just by signing up for some of these cards, they'll give you like hilton diamond status, marriott gold status brian, who cares about status? What? Why does that matter? If you want free suite upgrades, if you want free hotel rooms, if you want them to just treat you a lot better and notice that you have status, this is something that you would want to pick up now for number 13. We have bookkeeping. If you have personal credit cards and business credit cards, it makes it a lot easier.

So if i am buying something for the youtube channel, like a new camera or a new lens, instead of putting that on a regular credit card personal credit card, i can put that on my business credit card. And then my accounting firm is able to differentiate that very easily towards the end of the year. You do not want to mix up personal and business expenses too much, so it makes bookkeeping a lot easier too, especially if you're, a young entrepreneur or a business owner as well number 14. The benefits of credit cards hands down.

It builds credit history. Credit history is important if you're trying to get your first auto loan, your mortgage, many other other things, personal loans or, if you're, trying to lease an apartment, they're oftentimes going to ask you what your credit history is like number 15. This also gives you access to zero percent or low interest cash. So normally, if you want access to liquid money - or you want like one of those same day - quick loans - i think they call them shark loans as well.

You're gon na have to pay a lot of interest, but if you know exactly which credit cards are offering some promotions, you can get no interest on your credit limit for up to 15 months. That means i can borrow money from the bank. I won't have to pay any additional interest - that's free money that i can use for my business. I can flip shoes, or i can reinvest or even just pay off some other type of debt that i have or if, if a family member needs a card in order to pay for their food, this is just one easy way to get by.

So credit cards aren't all that bad people often confuse them and say that they're a very predatory source and if you're dave, ramsey fan or follower, you know that he often conveys to people that this is something you never want to touch. It's completely bad, but i'm going to try and logically depict a lot of these misconceptions that exist now for 16. This is leveraging opm. This is related to what i just said.

With number 15. opm is actually other people's money. You may not be able to see it right now, because my chat bubble is right there, but opm is other people's money. You'll see a lot of millionaires, a lot of billionaires.

They oftentimes don't use their own cash. They will oftentimes leverage the amount of margin that they have so, whether it's investing into stocks or you're trying to buy more equipment leveraging other people's money becomes incredibly important, especially if you know and confident that you're able to get a positive roi on top of the Low interest or even no interest promotion cards, so those are all the benefits so far of credit cards. Hopefully this has you interested, let's talk about how you can get started with this next so before moving on, we do have to talk about the credit card. Cheat sheet there are going to be a lot of acronyms and terms that are going to come up that you guys may not understand so within the forums, people are often going to say cc, which stands for credit cards cu, which is credit unions dp, which is A data point fr is a financial review.

Why mmv, which means your miles may vary. If i say your miles may vary, it means what is applicable to me, may not be applicable to you. It is dependent on each person. Now, hp or sp stands for hard pull or soft pull whenever you do apply for a credit card, if it gives you a hard pull, it's gon na show it on your account.

If they do a softball, it's not gon na give you any notification. Hard pulls. Will temporarily lower your credit scores? Soft polls will not kyc know your consumer laws know your customer laws. It goes interchangeably.

Pf, personal finance, so spouse msr, which is minimum spend requirement, is the amount that you need to hit or spend within a certain amount of time. In order to get a bonus or a promotion for and sub stands for, welcome bonus. So if you sign up for a card oftentimes, it's going to give you a sub, which is a welcome bonus. So we got a couple more um.

Huka is hang up and call again if you are getting declined for a credit card and the rep is just not cooperating with you. You can huka hang up and call again get a new rep and see if they can help you out ur's. The ultimate rewards. Uh program or portal loc is line of credit.

Af is annual fee ein is employer identification number. This is similar to your social security number just associated with your business. Fv stands for flex value, pc is product change. Cli credit limit increase fr financial review.

If you mess something up, if you are trying to game the system and you get hit with an fr or financial review, you have to submit all of your information, your income, your taxes, a lot of things in order for them to clear it. If you don't pass financial review with the credit card company, they will shut down your account rat team, also known as rewards abuse. Team pot stands for pay overtime. This is a feature that comes with credit cards uh if you're working with a charge card like we'll talk about later on in this video pay over time is something that they are trying to introduce uh.

I don't recommend people to sign up for pay overtime unless they're giving you a promotion. There are a lot more credit card, acronyms so c. I c c. I, u c.

I p c f, u c, f c s p and c s r. This is all acronyms for different chase cards chase in cash chase inc, unlimited chase inc preferred chase freedom, unlimited chase freedom, chase sapphire preferred chase sapphire reserve. This isn't necessarily too important, but it's just good to know if you ever see these acronyms. That especially start with the c most often times i am talking or people are talking about chase cards, so you got the gold platt business plat, the bce blue cash every day, bpp blue business plus.

So there are some cardinal rules of credit cards that you should not ever do to start. You don't ever want to carry a balance on your credit card unless you are under a promotion right now. So if it's like a business credit card, not reporting onto your personal credit score or you have that zero percent or very low interest - and you absolutely need to, i feel like those may be the circumstances where it's acceptable, but just as a disclaimer. There's no point in getting these credit cards doing everything i'm going to teach you.

If you plan on carrying a balance and paying interest, the points will just not add up or just be equal to the amount of interest that you're paying number two do not just use one credit card, people oftentimes sign up for one card and think they are Done you want to diversify your portfolio? You want to have a number of different cards and you want to know exactly when to use them. In order to maximize the amount of money you can get back. Number three do not cancel or ever close a credit card. People think that if they're not using a card, it's okay to cancel it or close it.

If you do that, you will hurt your credit score. If you have a credit card, that's been with you for five to ten years and it's your oldest credit card and you decide. I don't want to use it anymore, literally, just don't use it anymore. Maybe every month put like a small five dollar charge on there buy a pack of gum or something so the banks, don't close it on you.

But when you close or cancel a credit card, something bad happens where you lose all that history associated with that card. So you've been paying it off diligently for five six years and then you close it, you lose all of that and your score will go down significantly. I wish more people knew about this too many people dm me and say that they closed it. They don't know what to do next, it's too late by then number four do not try to game an ms, so ms stands for manufacturer spending and there are people who will go ahead, use credit cards, buy gift cards and try to game the system for everyone.

I know who does this: they have gotten caught if not gone, a financial review at some point in their life. I don't recommend this. I believe you can make just as much money by using credit cards like the banks intended and you'll still be able to get free flights, free hotels for the rest of your life completely for free okay. So you don't have to game or ms in order to find success.

In this, there was recently a wall street journal article where a guy uh. I believe it was like 300 000 of ms that he was doing and he got caught and he's working with the irs right now really interesting article for you guys to check out if you're interested in learning about how deep it goes. And let me tell you, it goes really deep. I know some of the players in this game that ms millions and millions of dollars - i don't recommend it.

I see people doing it, it's just not my cup of tea number, five avoid cast cash, advances or pot. So you can use your credit cards in order to get a cash advance. That's going to have a separate interest rate. The pot is the payover time like we mentioned earlier.

I often times do not use any of those features because it means you're going to pay additional interest on that amount. So you want to avoid that as much as you can so getting started, what's a credit card and how does it work just for my news? So credit cards have a credit limit that you can make purchases on and repay on a later date, very simple: okay, the banks will award you with a credit limit, say a 500 and every month you loan that money from them so i'll buy a pack of Gum for ten dollars i'll buy a chipotle burrito for ten dollars, i'll buy um some topo chico for five dollars, 25 right there of the bank's money that i use, and then i just pay them back at the end of every month and when you pay them Back, you don't have to pay any interest on this amount, you're just using the money that they have for you pay it back you're good to go, and then you reap the benefits. I'll talk more about what a credit card works in a different type of analogy. Later on in some slides, so debit, verse credit, this is a question that many people have.

Why would you want to use credit cards over debit cards? So let's talk about this, a debit card, it doesn't build you credit, it doesn't build you history, it doesn't do anything at all. You have to pay in real time. So if i use my debit card and i buy a tv, if i don't have a thousand dollars in my bank account - i can't buy that tv debit card - you don't pay interest, which is nice, but you don't get points either and for debit cards. You could be liable for fraudulent charges if someone steals your debit card, they have access to it.

Like i mentioned earlier, you are screwed with credit cards. It helps you build credit, you could pay it off later, meaning if i buy a thousand dollar tv right now. I don't have to pay it off till the end of the month, so that could help if you are waiting for a paycheck or whatever it is like i mentioned earlier, you could pay interest if you do not pay off that full amount. That's when credit cards don't make sense, but credit cards also have a fraud protection as well.

What is better, debit or credit credit all the way, if you have a debit card, go cut that up or put that somewhere in your house where no one will ever be able to find it. There's no need for you to carry a debit card around unless you want quick access to atm cash, but other than that for security reasons. If you're living in the city somewhere do not use a debit card to carry that around with you, it's dangerous okay. So what is credit credit is simply the ability to borrow money or access goods or services, with the understanding that you'll pay at a later date.

We know what credit cards are. Credit works in a general sense, so i have eg lending a flake money. So a good example of how to explain credit because you're going to hear about this throughout school as you grow up as you become an adult or maybe, if you're already an adult. You already know what this means, but you never had like an exact definition.

So, in terms of credit, if i so i had a friend growing up and and when i played rugby, i had this this friend. He would always ask all of us for money right. He would ask for like hey twenty dollars. Brian, can you spot me 20.

and um? I would go in and spot him that money and he would tell me look. I promise i'll pay you back in a week. He would not pay me back in a week and to my understanding to what we agreed upon. He would so i don't always reach out to him, be like yo where's, my money where's.

My money said you're gon na pay me back and after nagging him like five ten times, i was able to get my money back. That person that friend that i had right there. I would consider him a very high risk. I would give him a low credit score because he couldn't pay me back on time.

Another example is if i had a good friend who said yo brian i'm in a tough spot. I need a hundred dollars to pay my cell phone bill. I promise i'll pay. You back on this day and if i don't i'll pay you interest on that amount or i'll just pay, you interest anyways.

If he goes ahead takes money from me, i give it to him and then he pays me back on that specified time or even a few days earlier. I would consider him to have good credit, so imagine that on a large, very, very large scale, if you want to do that with an auto loan, where cars are worth 20 to 100. 000. If some, if you borrow money from someone and you promise that you'll pay, that full amount in like 48 or 72 months - and you aren't able to you - are showing them that you don't have good access to credit, your credit score is probably butthole.

Okay, so make sure that if you are in the world of trying to get money, you pay back on time, that's simply how it works, so maintaining a good credit score is critical to financial stability and leverage. This is the most important thing statement that i can find. I need you guys to ingrain that in your head, if you have a good credit score, it shows banks, institutions and other people in your life that you know how to use money. You know how to pay back and you're, not just over leveraged in debt, and you don't ever know exactly when you're going to be able to pay that amount off so good credit versus bad credit.

If you have good credit, you're going to have more available credit limits, you're going to have higher approval odds and you're gon na get better interest rates. If you have bad credit and you pay late, you're gon na get smaller lines of credits. You're gon na get denied for a lot of loans. So even if you wan na get a car for like five thousand dollars, they oftentimes won't even approve you for that.

You'll get the highest of the high interest rates and you pretty much have less freedom. If you can't buy the home you want or the car you you want to, have you don't have the freedom in this world so there's a higher credit score really better, and the answer is yes. Take a look at this. If you have a credit score in the 500 to 589 range right here, you'll pay an interest of up to 16.

I have friends who literally pay 16 interest on their car, and i told them what, in that, if you have a higher credit score, you'll know that you can get an interest rate of three percent. It's not bad. You can find interest rates of two percent now so check out credit unions if you are paying an interest rate of anywhere from four to whatever percent higher than that try to bring your interest rate lower okay, i will save you money just by doing that, and That's the beauty of credit, you can optimize different aspects of your life and make sure that you're not overpaying an interest which really compounds over time. So there are three major credit bureaus.

The credit scoring algorithm is always changing, and recently the government too, with joe biden they're, trying to implement a whole new type of credit scoring system. But what you have to know is that you have the creditors, you have the applications, you have the debt collectors, they are all data sources, they send their information off to the credit bureaus equifax experience transunion. They all give you three different credit scores. So you don't have one credit score.

You have three different ones. That's why if you go to a mercedes-benz versus going to, i don't know volkswagen. If one of them is pulling from equifax and the other person is paying or the other institution is pulling from, experian you're going to see two different scores because they have different scoring algorithms. So how do you build credit? This is actually a lot easier than you think so number one pay off all your credit obligations on time.

If i pay off my rent every single month on time, my credit will go up if my credit score is associated with this institution or my building same with credit cards same with your auto loans. If you have a payment due date and you pay it off on time, your credit score will go up. That's as easy, as you want an 850 credit score. Is that what you want paid off on time and do that for many many years? That's it now! Number three another way to just build credit is first by monitoring your credit history regularly.

So you can't build on things that you don't know. You can't build on things where you feel like you're doing well on, but in reality, you're actually not doing a good job. If you want to get a free credit report online go to annualcreditreport.com, this is what everyone uses. This is what most financial institutions pull from when i had my identity stolen and they swiped everything.

This is what i used in order to start fixing things. So what makes up your credit score? So your credit score is pretty much a pie, and this is always changing as well too, but for the most part, we'll start with payment history. This is 35. This is what makes up a large majority of what your credit score is.

This is why i say: don't miss your payments. If you do, your score is going to go down 30 of this is how much money you owe or your utilization. So if you have a thousand dollar credit limit, and every single month you use 900 of it, your utilization is 90. That is not good.

You want to keep your utilization low, you can pay off your cards early or you can sign up for cards with american. Express and they don't report utilization 15 of it goes to new accounts. Ten percent of it goes to length of history and then the other ten percent is types of credit to student loans. Mortgages.

You wan na have a wide variety of different credit that you have. You don't want it to just all be be beginner basic credit cards you to have different things that can boost your score, so new accounts and hard pulls is closely correlated. So whenever you apply for a new credit card account - and it adds to the amount that you have, they say that you shouldn't have too many credit cards. This really doesn't affect you too much at all, so i wouldn't worry too much about that either.

In terms of your credit score as long as you pay it off on time, that's really the main thing that you need to know a lot of this helps, but it's not huge. So how do you raise your credit score fast? I got this uh little okja. Little photo right here, and this is because we're going to talk about piggybacking. So if you want to raise your score fast and it's absolutely trash find a family member find a close friend, there are services that you can pay online, which i never ever recommend.

Don't ever get a trade line, which is what they call them in order to improve your score. So how does this improve your score when piggybacking credit, the authorized user gets a card holders full account. History reflected on their own credit report, which can have a positive effect on their score. That is it.

So if i have a 800 credit score - and i add you as an authorized user onto my account - i pretty much transfer all of that history onto you and that will raise your score the fastest, the most drastically out of any other method that i know online. So if you have a bum credit score right now and you're trying to improve it, you got to find someone with a good credit score. If they add you as an authorized user, you don't have to use their account. It doesn't do anything to them.

They simply just send the data off virtually and you'll be set, you'll be good to go, and the next reporting month you'll see that your score went up. So i've seen people who literally went from a 500 credit score all the way into the 700 and 800 range just by doing piggybacking. So how do we make money from credit cards? This is where things get juicy. We know everything now about how a credit score works, how the fundamentals - basics of it all.

Let's talk about some more fun stuff now so right here on your screen, i have the sign up application page for a card called the chase freedom flex card. This is a no annual fee card and right here as an example, there are two ways that you can make money just by signing up for this card after you spend 500 in purchases in three months. This is known as the welcome bonus or the minimum spend requirement. You will get 200 cash back.

So that means, if i spend 500, i get 200 cash back on my account, that's absolutely amazing! So if i wanted a a 30 40 discount on a ps5, it was 500 bucks. I get a ps5 for 300 bucks right now. I could use that extra 200 cashback for the video games and the controllers or whatever you want. That's one way that you can make money from credit cards easy ways, no string attached.

The second way is by earning cash back by the by the amount that you spend. So, on top of the money that you get from the welcome bonus, you actually accrue something called cash back or points so right here you have an example, so you can earn five percent uh, so you can earn five percent on up to fifteen hundred dollars on Combined purchases in bonus categories, so every three months chase will send you a little calendar on what categories give you five percent. This could be gas stations. This could be restaurants.

This could be um, the dining hall. I don't know they come out with random different categories. Every single time you get five percent, you get three percent on dining at three percent of drug drugstore purchases. Now i know this doesn't seem like much, but if you're spending thousands of dollars and that accrues just over time and and you keep balling out this five percent three percent - it really begins to add up over time.

But, like you see on your screen, a majority of the easy points is going to come from the welcome bonus, and this is why i recommend people to sign up for new cards as much as possible, because this will always be the little five percent that you Get back on some of your purchases, so another card to show you guys an example of some of the free money you can get with this platinum card right here. Just by owning this platinum card, you'll get a hundred dollars in statement credits for purchases at saks. Fifth avenue, so this is split up fifty 50. Every six months i always buy myself cologne.

I get free cologne uh. I oftentimes don't like to buy that stuff because i feel like it's overpriced, so i get it for free just by owning some of my credit cards, so brian, which cards do we start with first, it seems like there are hundreds of cards out here and i Want to pick the best one that is right for me, so i got you guys all set on this okay. So when you're first starting out - and you don't have any credit - you can start out with something known as a secured credit card - you don't really have to be too picky. With this.

There really isn't the best secure credit card out in the world. There are a good variety of them and oftentimes. They will just do the basics well enough for you to get started. So with this i have the capital one platinum card and, if you guys, click on this card or you click right here, you'll actually be able to open up the application for it as well.

In case you were interested so this right here, the way it works is first, you have to actually give them a security deposit. So, in order to get started with a credit card, if the banks don't know who you are, and they can't trust you yet and you can't get approved for any of these cards, you got to start with a secured card. What this means is, you will give them money so say i give them 50 or 100. That is my money.

I will have that as a credit limit for that card. You will eventually get this back when you're able to show that you're able to use a credit card responsibly over the next few months. But a secured credit card is pretty much like the beginner training wheel since starting out, if you can't get approved for any real normal card, i was frankly enough able to. I would start with a secured card.

First they'll give you a smaller credit line. Okay, they will boost your score. It will give you your deposit, that's how easy it is. So if you do have a secured card make sure you use it for a couple months.

The next thing that you can do is to get a beginner starter card. Now we have a lot of different options to this. These are some of my favorite ones. If i click on this beginner starter card link, you'll actually be able to pull up the ones that we're talking about as well on creditcards.com.

So we see this load here are some of the different products. Now a beginner starter card is gon na. Allow a lot of new applicants to get in, but most importantly, they have no annual fee. They don't have a high minimum spend requirement either.

So, for like the freedom flex card, i don't have to spend three thousand dollars in three months. I can spend 500 in three months which any normal person should be able to do so. The chase freedom cards are absolutely amazing. If you want to get started, american express has some beginner cards as well.

We have bank america on here, citi double cash, another great beginner starter card, and we also have the apple card on here, which is pretty popular as well. I recommend starting out with the chase freedom card or the freedom unlimited. If you can chase, doesn't like new applicants so i'll give you guys, like a full blueprint on what you can actually do next slide, so, like i mentioned chase, does not like new applicants, but their points are flexible and easy to use if you're a beginner. It's just gon na be a lot more easier to navigate through chase, just because it is so ui and uh a lot more friendly.

The chase freedom flex card is now mastercard, but i haven't had any issues with that card either. If you are using american express, for example, it's less accepted, at least in the korean restaurants, and some of the places that i go to in my area. American express has uh just extraordinarily expanded over the past few years, and that is actually something that they're focusing on. One thing i do want to mention with american express, though, is that they do like new applicants they do like strangers entering and if you do want to get started, you can't get approved for the freedom flex card.

The next thing i would recommend is the american express so for our next slide. This is going to be all about the most optimum plan that you can find. So here is actually what i recommend. I recommend you to start by building a relationship with some of these banks and institutions primarily chase now.

The reason why we start with chase is because they have something known as the 524 rule, meaning you can only get five cards within 24 months. So if you get six, seven cards, you're gon na be locked out for two years and you won't be able to get any more chase cards. This is why it doesn't make sense to get all other uh branded cards. You can't get an american express card.

You can't get all these and then try to apply for chase. You're gon na have to wait two years. They do this. They are smart about it.

This is a rule. That's been around for a very long time, uh. So what i recommend, if you can't get approved for the freedom flex or the freedom unlimited card immediately start here, get a personal checking account with them. Okay, you can use it for one to two months.

You can show that hey, you are a real person, you're, not a scammer you're, not someone from another country, you're, actually trying to be a real customer. Get a business bank account or a personal bank account whatever uh situation. You're in then apply for one of these cars chances are you'll, get approved, make sure that you have a decent score. Okay, if you have a score of 500 or 600, you may not get approved.

For this. I recommend to work up to a 700 credit score. Hold the card for two to three months: okay, what you want to do after that is look into the chase. Sapphire preferred this card is great because it comes with a very high welcome bonus.

It comes with an annual fee as well, but you can always downgrade it or cancel this card. You could downgrade it into the freedom unlimited do whatever you want, but it's a great card to hold for a year. Just because of that welcome bonus, you can get so what i did after the chase sapphire preferred card. Is.

I immediately got the american express gold card, it's my staple card that i still use today. It's one of the best dining cards that you use and if you go grocery shopping and you don't want to use the freedom flex card, you can go ahead and use the american express gold card. You can still get 4x on your purchases after this. It's a little bit more advanced.

You can really do whatever you want, but i personally recommend you to look into the business credit cards so many points so many benefits so many advantages. If you are an entrepreneur, if you don't have a business at all, make sure you watch my full business credit card guide on youtube as well. That video has like a hundred thousand uh views. People email me all the time saying it's helped them out.

So much too, so this is really the road map that i would personally go with. Now your miles may vary. You do not have to follow this if this does not make sense for you, if you're, not a traveler, if you like cash back, if you don't like amex, if you don't eat out, if whatever the reason is, if you don't want to follow this, it's completely. Okay, this is personally what i believe is just the generic best routine to go.

But if you're like a low income college student right now and you're barely making ends meet, it may not make sense in order to pick the gold card or the the preferred card, because these cards do have annual fees. So here are some of the mid-tier cards that i'm going to recommend to you guys. We have the gold card here. We have the world of height.

Here we have the marriott bonvoy business, the sapphire preferred the cash preferred and then the amazon visa prime. These are what i would consider the annual fee cards, but i feel like it's such a good addition to the wallet so out of all the cards i have. I have four, i five of the cards listed on this screen right here. I love my world of hyatt, it's a 95 annual fee, but the reason why it makes sense is because it gives me a free hotel night, every single year, so if a hotel night cost me 200 300 that i get for free.

My annual fee of 95 dollars automatically gives me the difference of whatever that free hotel night is so. This is really meant for anyone who travels. I know there are heights everywhere near me, uh. I know their heights in new york and dc and i personally love height.

It's my favorite hotel chain. All i have to do is drive three hours to new york. I get a free hotel night and that is just by holding this card marriott. Bon voy business same exact principle: you get a free hotel with them any marriott in the world every single year.

You get the welcome bonus, you get the cash back categories and then you also get status associated with those cards, so mid-deer car mid-tier cards. Let me say: they're valuable, they're stable to your wallet, but if you don't want to pay annual fees and you don't travel, i would understand why. I would say, though, if you want the most maximum amount of benefits from credit cards, you need to make sure that you unlock these mid-tier cards. So on the next slide.

Here we have the god tier cards, and this is extremely important in understanding exactly what the late game phase of credit cards is so uh. When you first get into the credit card game, i know how overwhelming it could be. You want to make sure that you apply for all the right cards. You want to make sure that you make right moves there.

Aren't that many credit cards out here. Yes, in in the grand scheme of things with different credit unions and banks, and all these other companies like target or i think, dick's sporting goods has their own card or the macy's card. There are a lot of credit cards, but in terms of the more valuable and viable options i feel like the learning curve may be steep, but it it really just fizzles out pretty quickly. So i'm sure you can go from beginner to an expert in the credit card industry in the matter of less than a year.

It really doesn't take that much work as long as you are diligent you're involved in a community, and you are semi-smart if you're watching this video. I know that you're smart, so i won't even question that at all so the god tier cards, i have the american express platinum card, the business platinum, the chase, sapphire reserve, the jp morgan, the american express centurion and the hilton honors guard. I have the platinum card, i'll click on it right here, it'll, take you to the links, that'll show it to you. I have the business platinum as well and if you guys want to sign up for the centurion card, you can't actually sign up for it, but you can request to get invited for it.

So you can go ahead and do that. You need to have an american express card linked already as well under your name in order to qualify for that, so the hilton honors. These are all amazing cards. They all come with great benefits.

It's going to be a little debatable on the centurion card and the j.p morgan card, but at least for these four right here i would consider these the god tier cards, because, yes, they have high annual fees. But, oh boy, do you get some insane benefits so i'll share with you later on this video, my spreadsheet, on these two cards and how much money i was able to make so business tier is a whole other world. There are so many associated benefits with business to your credit cards and some of the things i'm going to mention to you is that they do not report onto your personal credit report. You get higher credit limits, you get insane benefits, it helps you with bookkeeping.

The list goes on and on these are my favorite business credit cards. It's the american express blue cash. The american express blue business plus the american express business platinum, the business, unlimited business preferred and the business cash. I have most of these guys on the screen right here and the annual fee really isn't that significant, because it mainly just comes from the business platinum, which you don't have to get.

If you don't want, but it still adds a great addition plus another thing. Business credit cards don't affect different rules like the 524 rule, which can be a real pain in the butt. So before we get started with the next few slides, i wanted to talk about some quick tips that are going to be very important. If you do apply for any of these cards, you have to make sure the biggest thing is your personal credit score? If your credit score is under 700 work on your credit score, first, okay, make sure you can pay off that debt, make sure if you have any remaining balances you get that squared away and if you have any people in your life to get added as a Authorized user also known as piggybacking that we talked about earlier, make sure you go ahead and do that.

But if your score is good and you do get declined for a card, let me share with you this extremely important tip. So if you do get denied for a card, all you have to do is google reconsideration line for that particular card companies? So a lot of these card companies actually have specific algorithms that determine whether or not you get approved or denied for that card. If you get like a pending request like we need, you need to wait seven to ten days and we'll may mail you a letter just wait for that to come in oftentimes you still get approved for that. But if you do get denied, which happens pretty often, i would not get upset about that or feel some type of way because it just happens to the best of us.

It's it's happened to me, call the reconsideration line. Okay, this is a manual person. Let them know exactly what your story is. Hey i found out, i got declined.

Can you tell me why they'll say hey, i think your account history is low or it's kind of sus that your account. Your income is a little low and you just have to tell them what situation you're in hey. I want to build a relationship with you guys. I prefer you over this competitor and i want to keep working with you.

These are real people on these reconsideration lines and they will oftentimes make a change in the algorithm for you, so you can get approved. So if you can't get approved for any type of credit card call, the reconsideration line get a person on there. They want to make sure that they do a good job for you oftentimes. They don't want to disappoint people so find that line and call them.

It works for a lot of people now. I do also have to talk about covid pandemic and approval rates.