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 in this video 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 sign up. So, let's go inside of my computer, talk to you about some of these credit cards and what you can do in order to get these credit cards level up and then achieve your wildest dreams.

My wildest dream is just you know, traveling for free, that's nice, who 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 card. 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 baby tier all 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 prove to them that i got good grades because i always wasn't. You know a straight. A student like some of you guys may expect me to be.

I still got my good grades incentive, so i know that there are some companies out here which i'm not gon na name that still automatically give you about 20, every quarter, which is pretty awesome now under that i have the word no bs, and that's because, with Student credit cards: it's always straight to the point they make. It super easy to understand. It's a credit building card. If you're a student chances are, you can get approved and they do approve a lot more people compared to your ordinary credit cards.

Now these cards, you don't have to worry about points miles, earning statuses, transferring i know that stuff can be pretty hectic with student credit cards. It just gets your foot in the door and oftentimes you get free little goodies, which is amazing. Now to us student cards. Aren't really something that we focus on, but you have to realize that this is oftentimes one of the most important products that a lot of these companies may have, because students allow them to get their foot in the door.

This is why, if you ever go to college or community campus you'll find that they're trying to advertise to the younger demographic of 18 and 19 year olds, because, if they're able to swoop them in this early later down the road, they can continue to monetize off. Of something called lifetime value, which is really important for a business to sustain over time, because it allows them to continue to monetize without having to pay for additional marketing expenses. Now. The next thing we have on this list is secured card mentioned in that baby.

Tier of credit cards that we first talked about. We have the capital one platinum here as an example oftentimes, i don't recommend capital one just because they are a. I would consider a sub-tier credit card company. Some people may argue that it's not because they do have other products in their lineup, but with the capital one platinum card, you can see that a secured card works a little differently.

So, as you can see on your screen, secured credit cards offer an initial credit line and in order to get this, you first have to pay a security deposit on that card. So that's why it's called a secured card, so the credit card, a bank or financial institution is going to lend you money and then you have to pay them back. Otherwise, you're going to pay interest and your credit score is going to drop with a secured credit card, because a lot of the people who are trying to apply for this may not have the best credit or any type of credit history at all. And they don't really know how a credit card works or they do and they choose not to follow the rules.

Oftentimes. The product that you may get recommended is a secured card, meaning you put down a security deposit, say 100, 200 or even 500, and that becomes your credit limit. So this pretty much reduces the risk or the collateral that the bank may face. If you do decide to run off with that money, and it allows you to build your credit and allows them to be safe, while also giving you a chance to do that now with the security deposit, you do get that money back eventually, you just have to Show them that you can make routine payments, and if you have that credit history, where you are making on-time payments they're going to go ahead and reward you eventually with the next card on this list.

So the next cards on this list are going to be the starter cards. I still consider this. In the beginner category we have the bank of america visa signature card. This is a very popular card that i know many people start out with pretty much any time.

I walked around college. All of my friends had the bank of america red visa card, and i know some of them still carry that so that just seems to be a more popular card. I do believe it's because bank of america is pretty popular, at least in my area in maryland, and many people just end up getting sucked into their ecosystem, not a bad lineup of cards, but definitely doesn't come close to the cards that we usually talk about on This channel that we'll get to in the later part of this video now, as you can see with the city, double cache, the capital wants quicksilver and we also have the apple cash card. So all these cards have no annual fee very easy to use.

Citi double cash, extremely extremely simple for any beginner trying to get into the space and if you guys do want to download this guide, i forgot to mention this earlier. If you want to download this guide, i will have a link for it down below in the description. If you click on any one of these links here, you'll actually go ahead and open up the application to some of these credit cards. Now i never ask you guys to pay me anything or to bother.

I don't know signing you, don't have to give me any type of money, but but in exchange for this free content, if you guys do want to support this channel, i have affiliate links down below which does help out the channel. So i can continue to make content like this. If you don't want to use it and you just want to apply regularly through google, that's completely okay! But by doing that you don't you don't help out anyone if you want to help out my channel for free. Just by taking a few links, easy freeway link down below in the description.

Thank you all so much again, if you guys have done that moving on, we have number two, the rookie tier credit cards now these are still no annual fee credit cards, but these are frankly the ones that i recommend, because they are a step above so for Number two: on the rookie tier: 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. So, as you know, one of my favorite cards right here, the chase freedom flex, the american express cash card - is another favorite as well.

So there are some people out here in the credit card industry who will never touch any type of annual fee credit cards and they end up just chilling in the rookie tier. I don't think there's anything wrong with that, but i don't agree with the fact that you cannot find value in any of the point earning travel cards and that this is always the better way to go. I believe, if you're really frugal or if you're, really on a budget, yes, this could make sense or if you never travel at all and you hate it, then i could really see this being a viable option, but in terms of the general public and viewers trying To get into the space, if you cut out any of the card tiers after the rookie tier you're, really limiting yourself in options now, if you're trying to get approved for any one of these cards, i do recommend you to have a score of, at least at Least, 620! That's as minimum as i would go. I know there are people with a 620 even a 600 credit score that can get approved for this.

But if you have something anywhere in the 680 and up, preferably preferably preferably in the 700 score range, you'll get approved for almost every single card out here, but with the rookie tier. You don't have to worry about much. You can just get a proof of the card. Freedom flex is a great great welcome.

Bonus. American express also does too with some of their entry-level cards, and it's just a way for you to get into their ecosystem. So for the next on this list we got the mid-tier credit cards now. This is where it starts to get a little bit of fun.

All right, i want to say, there's a little bit of fun in this. So, with the mid-tier credit cards, you'll find that you're going to be paying a little bit of an annual fee anywhere from 95 to 250, which is the ideal range you won't see. Any annual fees, often times in the middle, like 50, is very rare that i've seen it's either zero dollars or ninety five dollars and then anything above that now 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 or not travel or not.

The gold card stays in my wallet because it continues to offer me great benefits every single year. Next, to that we have the chase, sapphire preferred the american express cash preferred. We have the marriott bon voy, we have the american express business, cash and the world of hyatt card as well, so the mid-tier cards. What you have to realize is you, do need a proper credit score.

I would say at least 680, preferably in the 720 range, but we have seen some data points of people getting approved for these with a much lower score. I think it really just depends on the climate of the world where we are in terms of people getting approved and if things are going to open back up, if banks are feeling confident in the way the economy is moving. So with these mid-tier credit cards, you have to realize that the welcome bonus is gon na, be much more significant. They are gon na.

Give you much more extended time like american. Express gold card is doing with their platinum series as well with some of these cards. Although you do get a higher welcome bonus, you do have to realize you're going to be paying a much higher minimum spend requirement fee associated with these cards, so you're really just stepping it up. If someone who has a chase freedom flex is a college student or a beginner, and that fits their profile, they may want to consider getting their first job and then moving over into some of these mid-tier cards.

But for me personally, i actually ended up getting my chase sapphire preferred very early on when i was working. My first job i had my american express gold card as soon as they came out with their revamp. While i was still working on my first business. So these credit cards don't discriminate on how old you are, how much money you have to make.

It really is dependent on what your credit score is and if you have stable income or not now so far, we went from starter to rookie to mid tier after this okay. This is where it gets a little fun. So this is what i would consider, the god tier cards and you'll see the american express platinum card with a 550 annual fee, the business version of that 595, the hilton honors 450 and the csr or the chase sapphire reserve at 550 boy. 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 on 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 cards now, the god tier cards are definitely something that has helped me tremendously. In my credit card journey and as just an individual bettering their financial life, it just opens up so many more benefits: concierge status, free perks, free travel, perks, hotel upgrades marriott gold, hilton gold man, even the insurance and the warranty protection that you get with some of These cards, if i broke my iphone, i wouldn't be confident in calling off. You know the chase freedom line, although they do support it now, i i wouldn't be that confident with the flex card, but if i did buy my phone with the platinum card and for some reason, someone steals it or i break it.

A month later, with american express and some of these luxury cars, they just don't bat an eye, and they don't question you on some of those um incidental uh rewards that you would pick up on some of the purchase, protection and warranty coverage that you get with A lot of these credit cards now, although god tier cards, look great and it doesn't seem like there's anything after that, there actually is so something i want to talk about were what i consider the elite cards or the more prestigious the so elite credit cards are Ones that you need to get invited for you can't just apply for it and think that you get approved. You have to meet a certain spending requirement or have a certain amount of money in your bank account. So the jp morgan, i believe it's 250 000 or a quarter million dollars in assets that jp morgan manages for you. So if you are a private client with them, they will often times offer you this card.

If you're able to meet that minimum requirement, there are other finance youtubers, like graham who made a full video talking about the jp morgan, cart and how it was like the 10 million dollar reserve car, or things like that. If you have a quarter million dollar net worth and you have good connections, you can actually request your investment advisor to help you out and get this card now. The american express ontario card is a much more different story. You have to get invited for this.

There's a link to a website where you can actually apply to get invited. Most people don't get seen on that. I think they just have it there, so people can have a little bit of hope and it kind of values the centurion card just a little bit more because it raises the awareness that most average people cannot get it now. The elite tier cards are definitely the goals that many people have comment down below.

If you would love to get one of these cards or if you just don't care at all, the american express ontario card comes with a very heavy annual fee, and some of you guys just may not care about having things like that. I'm definitely curious to hear what your thoughts are. Like i mentioned with the god tier the elite tier credit cards, they don't require you to have a certain credit score. You just need to meet a certain income requirement and whatever the algorithm's profile, has you determined on on what type of person you are? What type of income you have? That's when they'll send you the invite to get this card, so that was my video right there of the credit card tiers of 2021.

I think it's obvious to say, but i need to mention. Okay, so hey guys uh, my camera died. While i was recording because it ran out of storage - and i didn't know until i just started editing this video right now - so i don't want to scrap this entire video and i'm just gon na, have my final thoughts included after this and i'm just gon na Mouth, what i was saying in the video or something i'm gon na figure, something out all right. So i'm sorry for uh this part of the video but uh.

Unfortunately, my camera died and i just didn't know not all credit cards were included in this video. I just mentioned some of my personal favorites. If you guys did enjoy this video - and you found it helpful - don't forget to smash that like button down below - and i know about 80 percent of people watching this video aren't subscribed so make sure you guys go ahead and subscribe to this channel. If you guys love learning more about content, just like this make sure you guys go ahead and check out the links down below in the description, i will have a link to this powerpoint presentation.

If you guys want to go ahead and check the visuals out there, you can also click on each card or each title frame, and it will take you to the links for these cards. You don't have to use them, but if you do, i just want to say i appreciate that and i appreciate every single one of y'all watching this video. On top of that, don't forget to check out weeble. You can get two free stocks, one valued up to eighteen hundred dollars, not too bad and i'll just have some other free links where you can earn some free cash as well.

Follow me over on instagram credit. Brian. Follow me on twitter, brian jungy. Thank you guys.

So much again for watching and until next time, peace out.