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Here is the 2022 version of our popular How to Climb the Credit Card Ladder series, where I explain my tier system. We have seen some changes in 2021 and into 2022, notable the range of annual fees has become more broad and some credit cards such as the Citi Prestige (a long term staple of tier 4) have been discontinued. Yet we have also seen new cards hitting the market, like the Citi Custom Cash in tier 2 and the Capital One Venture X in Tier 4.
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28 comments
Still trying to understand how I went from tier 1 to tier 4 as I was approved for the Amex Platinum and and still in shock 😱 My credit score is hovering around 650 and I never qualified for any card outside of tier 1.
U forgot to mention one of the most popular cc for tier one, capital one quicksilver.
My first cc was a military star card.
Im in tier 2, hoping to enter tier 3 this fall
finding ur channel before i turned 18 was life changing! proud to be in “tier 3” at age 19.
I have the tier 4 Bank of America Elite Infinite Visa Card.
I make 45k a year and have a 718-720 score on all three bureaus. I have the Discover It Secured card which I graduated to unsecured with a $1800 limit. Then I got a Chase Freedom Unlimited with a $2400 limit. Venture X is my latest and with a 10k limit. I have already received the 300 travel credit and the $200 airbnb credit and am currently on a week Vaca in Puerto Rico. Currently working on the 100k miles sign up bonus. $3500 away from unlocking it. My airport lounge experience already is making the Venture X worth it imo.
I just upgraded to Tier 3 with my new Chase Sapphire Preferred. Looking to get the Freedom Unlimited next and maybe the Freedom Flex down the road for points boosts.
Great content, Ben! Have to day, I am learning a lot from you. I am working my way back into the credit card world after languishing for far too long in the world of a bad credit score due to divorce and a number of other uneducated factors. My goal for 2021 was to get my score back over 700 and I went over 750 as of Dec '21 [edited]. My focus for 2022 is to go all-in on the Chase UR program and book some great trips with my SO. I currently have the Freedom Unlimited and Sapphire Preferred cards. Plan to get the Freedom Flex card later this year. Thank you for all the great content and all the best to you and your family in 2022.
Since I work in the industry, I'm going to give this very unpopular tip to everyone: READ YOUR DAMN CREDIT T&Cs. ALWAYS.
Too many people do not pay attention to even the basics in the Schumer Box, or the other misc fine print that comes with even a "great" credit product. Misc. fees, grace periods, APRs, late frees/finance charges, coverages vs. things not covered, how rewards are calculated, etc.
There's most likely a Prime change coming in the next few months in the U.S., and that will affect your credit cards and other financing products. Caveat emptor.
(I do think Ben's subs are pretty wise, however someone may need a gentle reminder on this topic.)
I have no use for Tier 3+ cards. I don't travel so the benefits, and the expensive AF, are lost on me. Depending on your criteria, I suppose I do have a Tier 3 card, the AmEx Blue Cash Preferred with its $95 AF. However, it is a cash back card but I do enough grocery spending (and Apple and Google services) to make it better than the no AF version.
if i have the flex or unlimited can i product change one into the freedom? no right?
Which credit cards are the best option to pay tax bills since i freelance so i owe
im good with tier 3 cards, dont need anything higher. good benefits, multipliers, some credits, and low AF
15:02 celebrities don't live in Hollywood. Hollywood is a toilet
16:48 i think i deaf now…
Tier one can also include those with an annual fee, along with no rewards. Basically many credit one cards. Maybe they belong in its own tier where nobody should get them 😂
I like hanging out in the $0 AF tiers, no shame in it. Occasionally I'll get a $95 AF for one year and then cancel when there's a good bonus.
If you don't spend $20k+ a year on credit cardable purchases, why go up?
bad music man
Tier 1 should be tier 0 lmao
These get better every year. Thanks man!
Hi Ben why did you start a new channel? Is Credit shifu gone?
In less than 40 days of working with CREDITROYALE, my credit score has gone high enough to be able to qualify for mortgage. Besides that, all my hard inquiries were removed. they were so professional and friendly and easy to work with that it made the whole experience quite enjoyable. I have already recommended them to my family and will continue to recommend their services to everybody I come in contact with! contact them CREDITROYALENET
In less than 40 days of working with CREDITROYALE, my credit score has gone high enough to be able to qualify for mortgage. Besides that, all my hard inquiries were removed. they were so professional and friendly and easy to work with that it made the whole experience quite enjoyable. I have already recommended them to my family and will continue to recommend their services to everybody I come in contact with! contact them CREDITROYALENET
Thanks, David Tennant!
I am in tier 4 and I'm headed to tier 5 eventually 💪
Annual fees are 100% bogus for the consumer. It's just a premium barrier to entry for exclusivity. They say it's to pay for all the benefits but they already charge the merchants you shop at a higher rate for a more premium card 4 to 5% of total sale vs 1.5 to 2% for lower end cards. That's why merchant CC processors need a business processing statements before they give a quote. They need to see at least 3 months worth to average out what kind of cards your customers use so they don't loose money on the average rate.
Lol sweet