EDIT: The Discover it secured card will automatically be upgraded to the Discover it CHROME rather than the Discover it CASHBACK, so be sure to call them before your 6 month anniversary to get it changed to the Discover it Cashback instead. 🚨 ALSO: The Chase Sapphire Preferred limited-time welcome offer is 80,000 points after spending $4,000 in the first 3 months, and an additional 10,000 points after spending $6,000 total in the first 6 months and the Chase Freedom welcome offers are currently not offering the 5x back on grocery purchases at this time (updated 4/10) 🚨 If this video has you wondering how many credit cards a person should have to maximize value, watch this video next: ruclips.net/video/xkjqkdG1z0c/видео.html What path would you take? And what cards would you recommend for that path? 👇🏼
Correct. The Discover it secured card has the same categories and benefits as the Chrome card, and graduates to that. The Discover it Student card has the 5% rotating categories, and graduates to a regular Discover it Cashback Card. Both are fantastic options depending on your situation, and Discover has great customer service.
Ah that’s where I was confused. Thank you for clearing that up! I’d say the Discover it cashback is the better upgrade of the two, but whatever fits you best is the way you should go.
Wow, what a great comprehensive video on different types of credit card setups, Spencer! All of 3 of these setups would be great depending on what your goals are (as they're labeled in this video). It's always so much fun to think about what setups are out there to maximize spending, and I know that's something that you're probably thinking about a lot as you continue to build out your core setup. Also, I get what you're saying about Amex cards, but personally, I would get at least one Amex card within the first 3 cards because I think starting that Amex relationship early is pretty important, but that's the only thing I'd add. It's great to hear your thoughts about this, and this info will be helpful to a lot of people who need solid advice on what direction to go after those first few cards 👍
I appreciate that Stan! This one took a bit more research and scripting than normal, but I wanted to make sure I had a comprehensive guide on my channel for those that ask me (in my personal life and on YT) about what cards they should start out with. I agree that an Amex card could be slotted in here to start a relationship with them sooner if that's something you're interested in. I'd probably throw that in the Travel Path without Chase cards, but that's just me! Would you recommend people get an Amex CREDIT card or CHARGE card in that slot? Or do you think it matters? I know you technically can get some high limits on their CREDIT cards, but if you're just trying to start that relationship, a CHARGE card could be fine as well I presume.
@@SpencerJohnsonOfficial I think either an Amex credit card or charge card would be fine as your first card, although there are some caveats to this. First, of course, an Amex personal card is preferred because after your first personal card, hopefully, all other cards will be soft pulls. This is not the case if your first Amex card is a business card. Secondly, all of Amex's charge cards have annual fees, so from that point of view, a credit card is preferred since your first 3 cards IMO, should definitely be no-annual-fee cards, with the exception of the Chase Sapphire Preferred, like you mentioned!
@@TheCreditFrog All great points! I think that's super valuable advice that should be taken into consideration, so hopefully folks read this if they want to get started with Amex cards in their first 5 cards too. Thanks Stan!
Love the video here Spencer! If I had to start over again, I love how you outlined a "Chase-specific Path" because I definitely would have had my first.5 Cards be with Chase instead of going for two of the AMEX co-branded Hilton Cards. Just makes it easier to prioritize those Chase Cards first and not have to worry as much about 5/24. Love how you divided into different Credit Card Setups, based on people's preferences, because there are just so many opinions/different potential combinations out there.
I appreciate that Matt! I think logically the Chase path makes the most sense if you want maximum value, but we all start in our own way and it doesn’t make a huge difference at the end of the day. If I had to make recommendations though, that is what I’d do. I’m glad you enjoyed this one! It took a good amount of extra effort than normal, but I think it’ll be helpful for a while to come, at least I hope!
Very thorough, even down to the Amazon card data points bypassing the 5/24. And the world of Hyatt getting love! I think this is a great video, you really went fully in depth on all of these issuers, super impressed, jam packed with good knowledge! + liked for Odin always.
I appreciate you Tony! I tried to pack as much information into this one as I could while still keeping it somewhat concise. I just wanted to have a solid evergreen video that I could share with friends and family as well as anyone on YT who may be in the stage where they don't know where to go next in their credit card journey. As for the Hyatt card, I just wish they'd add an elevated SUB to it. I'd love to add it to my setup, but 30k points isn't doing it for me right now lol. I'm glad Odin got you to like haha. I really need to bring him on earlier in the video if that's the effect he has 🤣 Thanks for your support as always man!
Great info👍 My first chase card was CSP from a 100k mailer with only seven months as a authorized user of a chase freedom and BOA secured credit card .
Very well done video. RE: CSP - When I was new to credit cards there was no way my budget was in a place where I could meet a $6k spend to get the 90k UR points without carrying a balance. May want to add a disclaimer in the future - folks should never carry a balance
Great point Ahnon! I make that disclaimer in a lot of my videos, but did not do so in this one unfortunately. That's 100% true though. Carrying out a balance on any of your cards will practically wipe all of your rewards out for the whole year (or more) so it's never worth it. Thanks for watching today and making that point clear for everyone!
I appreciate that David! This one took a good amount of extra research and time to pull together, but I'm hoping it'll be a good comprehensive guide for years to come. I do hope even better cards come out over time though!! I'd say the Chase route is a great way to start your kids off. And if you add them as an authorized user beforehand, they can skip that first secured or student card which is great.
Really thoughtful lists here, I was curious why there was no amex in your travel list. But if you’re prioritizing the first five cards to get FIRST then these are great options. Me personally I’m running a combo of c1 bifecta and an incomplete chase trifecta (CSP/CFF). Some thoughts I’d want your take on: I’ve heard great things about citi if you’re team cash back but interesting that you push for them so hard for travel. Mainly because TY points expire and I have heard it’s harder to use them compared to UR points. And frankly C1 also suffers from the same problem of their miles being harder to use (I can confirm as a C1 customer). Which do you think is the best point ecosystem? Because I do agree C1 and citi have way better cash/points back categories and multipliers but the UR point is the gold standard in the points game
Thank you! In all honesty, you could definitely throw in an Amex card to that travel setup, but I wouldn't necessarily prioritize them right off the bat unless you want to start a relationship with them early as Stan mentioned in another comment. It sounds like your setup is pretty solid right now for sure! And that's a great question! From what I understand, your Citi points will never expire unless you close all of your accounts. Then you'll have 30 days to use them after that. The exception is if those points are transferred from someone else's account, then you have 90 days to use them. So their point ecosystem is pretty similar to all the other lenders out there in that regard. I think of Citi and Chase as being the two hybrid point ecosystems that both get a lot of value in cash back or travel form. You're right in saying Chase is the gold standard of all redemption methods, and I would say Amex is the gold standard when speaking of travel only (tied with Chase in my books). Capital One is on the lower end of my list because once you transfer them to a travel card like the Venture X, your cash back value shoots to the floor (similar to Amex), so Chase is my #1 for all around point ecosystems. With travel partners though, every lender can provide a ton of value, and that's how I choose to use the majority of my points which is why I'm not really partial to any 1 ecosystem. I hope that helps!
My Discover card isn’t a secured card, yet, I have mine in the charcoal color, because I think it is the nicest and most elegant looking Discover card color. I wonder how many people see my card and think it must “be a secured card”.
Don’t worry, only us credit card needs would ever possibly think that, but even then, the Discover it card has so many designs that I don’t think that would be people’s first thoughts. I could be wrong though 🤷🏼♂️
I'm happy to hear that. I really wish I had a video like this when I started for sure. Of course, everyone may have a different setup, but these would be my recommended paths depending on what route you want to take in the credit card game.
Spence, I'm kinda thinking Strata Premier will just be the new name for "Premier" (rather than a new card).. especially since Premier has that elevated SUB right now... and maybe it'll come with some additional perks like travel protection... And then the Strata Elite will be an actual new card (similar to the old Prestige)
That's what I assume too. I just hope that they make the Strata Elite competitive being that it should hopefully be a new card. I could definitely see them just rebranding the Citi Premier to the Citi Strata Premier though for consistencies sake.
I'm excited to see what happens... Also, as soon as we saw the 75k SUB, my wife went ahead and got the Citi Premier.... And it leaves me open to getting a Strata card
That’s awesome! I saw that elevated offer and it really tempted me to give it a shot… if I didn’t just apply for the Venture X I may go for it, but I guess I’ll hold off for now.
This video is awesome! Thanks for setting up the different paths one can take. Question. Do you know if the freedom flex will offer the 5% groceries/gas sign up bonuses? Or why they removed them. Thanks.
I’m glad you enjoyed it! I imagine they’ll bring back the 5% part of the SUB on the freedom cards soon enough. They usually are at least running one of those, but maybe they had enough signups to remove that for a little bit here. I hope it comes back soon though!
Good info and video but I wouldn't recommend or even mention secure or student cards. Big waste of time and better to go for the base, beginner cars like flex, it, or custom cash. If you get denied, call them up and just ask for lowest credit limit and that you're looking to build credit. Once an actual person looks at your application, they will push it through with the lowest limit ($500).
I appreciate that! And that’s one way you can go about it for sure, but for folks who aren’t as well versed in the credit card game, that could be more of a hassle I feel like. Have you had positive experience with going that route? I feel like at the end of the day the difference between going with a secured or student version compared to getting the lowest limit on a beginner personal card is pretty negligible since either way it’ll take 6-12 months to raise your score to a point where you’ll be approved for more cards, but I’m interested to hear your point of view.
@@SpencerJohnsonOfficial I never had to go that route but know secure cars are for people with damaged credit. If you're new, the student card would be best bet to get at least in the chase system. Things like opening a checking account would be better too. But if you can avoid student or secure cards, much better overall.
I think either secured or student cards are just for people with no credit history or poor credit history but you can definitely get started with either. The beauty about them is that you can get graduated up to higher tier cards after using them responsibly for a while, so you won’t just have a secured card forever as it’ll become a card more deserving of use after a while. If you can skip that step, that’s obviously most ideal, but for someone with absolutely no credit history (and who haven’t been added as an AU to someone else’s card) secured or student cards are generally how they have to get started. I agree though, establishing a relationship with a bank in other ways is helpful too.
I heard that you only get 1 welcome bonus for all Citi cards, so it makes more sense to get the premier first for the 60k bonus. is this still true? if so, its probably not that valuable to get the custom cash first
That is not the case. You can get welcome bonuses on all of their cards, and can even get most of them again after 24 months if you product change your current on and reapply. So you can get them in any order you want to, but of course, I’d always looks for the best bonus available as it comes to timing. For example, the Citi Custom Cash usually always has the same bonus, but the Premier card is elevated right now to 75k points, so maybe you get that one now if you want to take advantage of that. It depends on your goals though.
If you have the Chase Trifecta (preferred, unlimited, flex) and the Amex Gold. Would you still get the Venture X?...or is that too many different platforms? If not the Venture X, I was thinking about a hotel card. Either Marriott Boundless or Hilton Surpass. I appreciate any feedback...
Personally I have all 5 of those cards and plan to get a lot of value from each of them every year. Having some point diversity isn't a bad thing, especially if you plan to transfer out to travel partners. Also remember that some of their transfer partners overlap, so you can effectively combine your points from all of those cards with those overlapping partners if need be. However, if you want a more simple setup, maybe you don't go for the Venture X right now. I think it's pretty easy to justify in any setup though. Hotel cards are great too! Everyone loves the Hilton cards and I've heard great things about the Boundless as well, so I'd pick the one that fits your travel habits best. Personally, I'd say you should add all 3 of the cards you mentioned if you can handle it and get positive value from them every year. That's just my opinion though!
Great video Spencer thank you so much! I have been using Cap 1 secured credit card since Jan 2023 - Paid 3 statements. Also, have checking account and Chase student card 1k limit since Feb 2023 - Paid 1 statement. I'd like to get the remaining 3 slots from Chase but, I don't want CFF or CFU. I want the CSP then Hayatt and IHG. What is your recommendation regarding the time of applying to these cards? Do I have to wait for the whole year? Utilization 1% Income 70k I'd appreciate your response and help. Thanks.
No problem! And thanks for the kind words! I wouldn't say you have to follow any specific path. I just laid out some optimal ones here, but if you have different goals, then you have to do what's best for you. You don't necessarily have to wait a whole year to get approved for those cards you want. 6-12 months of history is just recommended by the majority of people because of how strict Chase can be. But since you have the CFS, you may be able to get other Chase cards sooner. I'd personally let that card age a little bit to be safe, but if you physically can't wait then you could apply earlier and risk the hard pull. If you're already well above a 700 credit score, you have better odds too, so keep that in mind. Maybe you just use the cards till you're at a pretty high credit score and apply then. There aren't any hard set rules here though.
There's not necessarily a reason you can't do that, but you just have to consider what your ultimate goals are in the credit card game. If you're just getting started, I would recommend getting a couple no annual fee cards that you can keep open forever rather than jumping straight to a high annual fee card, but if that doesn't make sense for your situation then you have to do what's right for you. The one thing that could stop you from getting those cards is a lack of credit history, but if you have a high credit score, can get approved for them, and want to skip all the other cards you technically could. My answer would depend on what other cards you have right now I guess.
Congrats on your first card! The Discover it is a great one to start with. If you're someone that is going to want some Chase cards down the line, I'd highly recommend adding them in next. Either the Chase Freedom Unlimited or Chase Freedom Flex. Eventually you should maybe even have both depending on your spending habits, but those cards would be two I'd consider adding next.
Good question! I haven't had that experience personally, but I know sometimes it can go to a "pending" status and they let you know 7-10 business days later or something like that. I'd recommend calling their reconsideration line to see if they need any extra details from you before making their decision. Sometimes that phone call is all it takes to get approved.
@@SpencerJohnsonOfficial this video was mind blowing to me. It's a great idea to have a credit card plan 👌 It's also a great idea to not pay interest on everything 🙃 Get your credit score high...and stick to cash 💸 just IMO 😉 😜
@@mobilegamersunite Well I appreciate that! It's 100% important to have a plan and use a credit card like a debit card. Paying off your balance on time and in full every month is essential. I respect your opinion for sure! And I appreciate your comment.
EDIT: The Discover it secured card will automatically be upgraded to the Discover it CHROME rather than the Discover it CASHBACK, so be sure to call them before your 6 month anniversary to get it changed to the Discover it Cashback instead. 🚨
ALSO: The Chase Sapphire Preferred limited-time welcome offer is 80,000 points after spending $4,000 in the first 3 months, and an additional 10,000 points after spending $6,000 total in the first 6 months and the Chase Freedom welcome offers are currently not offering the 5x back on grocery purchases at this time (updated 4/10) 🚨
If this video has you wondering how many credit cards a person should have to maximize value, watch this video next: ruclips.net/video/xkjqkdG1z0c/видео.html
What path would you take? And what cards would you recommend for that path? 👇🏼
Correct. The Discover it secured card has the same categories and benefits as the Chrome card, and graduates to that. The Discover it Student card has the 5% rotating categories, and graduates to a regular Discover it Cashback Card. Both are fantastic options depending on your situation, and Discover has great customer service.
Ah that’s where I was confused. Thank you for clearing that up! I’d say the Discover it cashback is the better upgrade of the two, but whatever fits you best is the way you should go.
Wow, what a great comprehensive video on different types of credit card setups, Spencer! All of 3 of these setups would be great depending on what your goals are (as they're labeled in this video). It's always so much fun to think about what setups are out there to maximize spending, and I know that's something that you're probably thinking about a lot as you continue to build out your core setup. Also, I get what you're saying about Amex cards, but personally, I would get at least one Amex card within the first 3 cards because I think starting that Amex relationship early is pretty important, but that's the only thing I'd add. It's great to hear your thoughts about this, and this info will be helpful to a lot of people who need solid advice on what direction to go after those first few cards 👍
I appreciate that Stan! This one took a bit more research and scripting than normal, but I wanted to make sure I had a comprehensive guide on my channel for those that ask me (in my personal life and on YT) about what cards they should start out with. I agree that an Amex card could be slotted in here to start a relationship with them sooner if that's something you're interested in. I'd probably throw that in the Travel Path without Chase cards, but that's just me!
Would you recommend people get an Amex CREDIT card or CHARGE card in that slot? Or do you think it matters? I know you technically can get some high limits on their CREDIT cards, but if you're just trying to start that relationship, a CHARGE card could be fine as well I presume.
@@SpencerJohnsonOfficial I think either an Amex credit card or charge card would be fine as your first card, although there are some caveats to this. First, of course, an Amex personal card is preferred because after your first personal card, hopefully, all other cards will be soft pulls. This is not the case if your first Amex card is a business card. Secondly, all of Amex's charge cards have annual fees, so from that point of view, a credit card is preferred since your first 3 cards IMO, should definitely be no-annual-fee cards, with the exception of the Chase Sapphire Preferred, like you mentioned!
@@TheCreditFrog All great points! I think that's super valuable advice that should be taken into consideration, so hopefully folks read this if they want to get started with Amex cards in their first 5 cards too. Thanks Stan!
Love the video here Spencer! If I had to start over again, I love how you outlined a "Chase-specific Path" because I definitely would have had my first.5 Cards be with Chase instead of going for two of the AMEX co-branded Hilton Cards. Just makes it easier to prioritize those Chase Cards first and not have to worry as much about 5/24. Love how you divided into different Credit Card Setups, based on people's preferences, because there are just so many opinions/different potential combinations out there.
I appreciate that Matt! I think logically the Chase path makes the most sense if you want maximum value, but we all start in our own way and it doesn’t make a huge difference at the end of the day. If I had to make recommendations though, that is what I’d do. I’m glad you enjoyed this one! It took a good amount of extra effort than normal, but I think it’ll be helpful for a while to come, at least I hope!
Chase has such great benefits and value I love the chase trifecta and am now branching out to capitol one and Amex cards which are great as well
That's awesome to hear!
Very thorough, even down to the Amazon card data points bypassing the 5/24.
And the world of Hyatt getting love!
I think this is a great video, you really went fully in depth on all of these issuers, super impressed, jam packed with good knowledge!
+ liked for Odin always.
I appreciate you Tony! I tried to pack as much information into this one as I could while still keeping it somewhat concise. I just wanted to have a solid evergreen video that I could share with friends and family as well as anyone on YT who may be in the stage where they don't know where to go next in their credit card journey.
As for the Hyatt card, I just wish they'd add an elevated SUB to it. I'd love to add it to my setup, but 30k points isn't doing it for me right now lol.
I'm glad Odin got you to like haha. I really need to bring him on earlier in the video if that's the effect he has 🤣 Thanks for your support as always man!
This is a great guide for people to start off with! Getting that foundation of credit is huge!
I appreciate that Manny! I agree... those first 5 cards can really set you up for success down the line!
Great info👍
My first chase card was CSP from a 100k mailer with only seven months as a authorized user of a chase freedom and BOA secured credit card .
Oh wow that's great! I'm jealous of that 100k offer for sure. Hopefully another one of those comes up in 2026 when I'm eligible for another bonus lol.
Very well done video. RE: CSP - When I was new to credit cards there was no way my budget was in a place where I could meet a $6k spend to get the 90k UR points without carrying a balance. May want to add a disclaimer in the future - folks should never carry a balance
Great point Ahnon! I make that disclaimer in a lot of my videos, but did not do so in this one unfortunately. That's 100% true though. Carrying out a balance on any of your cards will practically wipe all of your rewards out for the whole year (or more) so it's never worth it. Thanks for watching today and making that point clear for everyone!
As usual great video and information Spencer! Keep up the great work 👍
Thanks Cesar! I appreciate you man.
Nice video......these 3 paths shown are relatable to most people out there
I appreciate that man!!
Happy Easter, Spencer!
Thank you so much! Same to you!
Wow Spencer. What a thorough video. Broke down some great paths. When my kids are old enough going to start them out on your Chase route.
I appreciate that David! This one took a good amount of extra research and time to pull together, but I'm hoping it'll be a good comprehensive guide for years to come. I do hope even better cards come out over time though!! I'd say the Chase route is a great way to start your kids off. And if you add them as an authorized user beforehand, they can skip that first secured or student card which is great.
@@SpencerJohnsonOfficial yup! Venture X will be the authorized user card! 🤣
@@druiz012 That's the perfect one to add them on. High credit limit, low utilization, and lounge access. Pretty dang solid!
good info Spencer
I appreciate you Sledge! Glad you enjoyed it.
Great video! Thanks for the info!
Of course Jimmy! I’m glad it was helpful!
Great original video man! Happy Easter!
I appreciate that! Happy Easter to you as well AJ!
Really thoughtful lists here, I was curious why there was no amex in your travel list. But if you’re prioritizing the first five cards to get FIRST then these are great options. Me personally I’m running a combo of c1 bifecta and an incomplete chase trifecta (CSP/CFF).
Some thoughts I’d want your take on: I’ve heard great things about citi if you’re team cash back but interesting that you push for them so hard for travel. Mainly because TY points expire and I have heard it’s harder to use them compared to UR points. And frankly C1 also suffers from the same problem of their miles being harder to use (I can confirm as a C1 customer). Which do you think is the best point ecosystem? Because I do agree C1 and citi have way better cash/points back categories and multipliers but the UR point is the gold standard in the points game
Thank you! In all honesty, you could definitely throw in an Amex card to that travel setup, but I wouldn't necessarily prioritize them right off the bat unless you want to start a relationship with them early as Stan mentioned in another comment. It sounds like your setup is pretty solid right now for sure!
And that's a great question! From what I understand, your Citi points will never expire unless you close all of your accounts. Then you'll have 30 days to use them after that. The exception is if those points are transferred from someone else's account, then you have 90 days to use them. So their point ecosystem is pretty similar to all the other lenders out there in that regard. I think of Citi and Chase as being the two hybrid point ecosystems that both get a lot of value in cash back or travel form. You're right in saying Chase is the gold standard of all redemption methods, and I would say Amex is the gold standard when speaking of travel only (tied with Chase in my books). Capital One is on the lower end of my list because once you transfer them to a travel card like the Venture X, your cash back value shoots to the floor (similar to Amex), so Chase is my #1 for all around point ecosystems. With travel partners though, every lender can provide a ton of value, and that's how I choose to use the majority of my points which is why I'm not really partial to any 1 ecosystem. I hope that helps!
My Discover card isn’t a secured card, yet, I have mine in the charcoal color, because I think it is the nicest and most elegant looking Discover card color. I wonder how many people see my card and think it must “be a secured card”.
Don’t worry, only us credit card needs would ever possibly think that, but even then, the Discover it card has so many designs that I don’t think that would be people’s first thoughts. I could be wrong though 🤷🏼♂️
Good info👍🏽
I'm glad it was helpful to you!
Good picks Spence!
Thank you Doc!!
Very well thought out options
I appreciate that! I hope this video will be a good guide for folks to come back to over time.
About to get the Venture X to go with me Savor !
Nice!
Nice video Spencer! When do you think the 90k in branch offer for CSP will be added online?
Thanks Jake! From what I heard, early April was the word on the street, so we'll see how quick it actually takes...
Truist secured credit card give you back 3% on gas! Great first starter card!
Ooh good suggestion! I hadn't heard of that one, but if they approve people with no previous credit history, that's a solid choice too!
I was looking for a video like this 🤣. If you could do it all over again how would you do it type beat
I'm happy to hear that. I really wish I had a video like this when I started for sure. Of course, everyone may have a different setup, but these would be my recommended paths depending on what route you want to take in the credit card game.
Spence, I'm kinda thinking Strata Premier will just be the new name for "Premier" (rather than a new card).. especially since Premier has that elevated SUB right now... and maybe it'll come with some additional perks like travel protection... And then the Strata Elite will be an actual new card (similar to the old Prestige)
That's what I assume too. I just hope that they make the Strata Elite competitive being that it should hopefully be a new card. I could definitely see them just rebranding the Citi Premier to the Citi Strata Premier though for consistencies sake.
I'm excited to see what happens... Also, as soon as we saw the 75k SUB, my wife went ahead and got the Citi Premier.... And it leaves me open to getting a Strata card
That’s awesome! I saw that elevated offer and it really tempted me to give it a shot… if I didn’t just apply for the Venture X I may go for it, but I guess I’ll hold off for now.
This video is awesome! Thanks for setting up the different paths one can take.
Question. Do you know if the freedom flex will offer the 5% groceries/gas sign up bonuses? Or why they removed them. Thanks.
I’m glad you enjoyed it! I imagine they’ll bring back the 5% part of the SUB on the freedom cards soon enough. They usually are at least running one of those, but maybe they had enough signups to remove that for a little bit here. I hope it comes back soon though!
What If I Didn't Go To College??
Good info and video but I wouldn't recommend or even mention secure or student cards. Big waste of time and better to go for the base, beginner cars like flex, it, or custom cash. If you get denied, call them up and just ask for lowest credit limit and that you're looking to build credit. Once an actual person looks at your application, they will push it through with the lowest limit ($500).
I appreciate that! And that’s one way you can go about it for sure, but for folks who aren’t as well versed in the credit card game, that could be more of a hassle I feel like. Have you had positive experience with going that route? I feel like at the end of the day the difference between going with a secured or student version compared to getting the lowest limit on a beginner personal card is pretty negligible since either way it’ll take 6-12 months to raise your score to a point where you’ll be approved for more cards, but I’m interested to hear your point of view.
@@SpencerJohnsonOfficial I never had to go that route but know secure cars are for people with damaged credit. If you're new, the student card would be best bet to get at least in the chase system. Things like opening a checking account would be better too. But if you can avoid student or secure cards, much better overall.
I think either secured or student cards are just for people with no credit history or poor credit history but you can definitely get started with either. The beauty about them is that you can get graduated up to higher tier cards after using them responsibly for a while, so you won’t just have a secured card forever as it’ll become a card more deserving of use after a while. If you can skip that step, that’s obviously most ideal, but for someone with absolutely no credit history (and who haven’t been added as an AU to someone else’s card) secured or student cards are generally how they have to get started. I agree though, establishing a relationship with a bank in other ways is helpful too.
Wells Fargo still feels sketchy to me. Why would you personally recommend cards from that bank?
Fair question! Every bank does sketchy stuff like that at the end of the day. That wouldn’t stop me from profiting from them all though 🤷🏼♂️
I heard that you only get 1 welcome bonus for all Citi cards, so it makes more sense to get the premier first for the 60k bonus. is this still true? if so, its probably not that valuable to get the custom cash first
That is not the case. You can get welcome bonuses on all of their cards, and can even get most of them again after 24 months if you product change your current on and reapply. So you can get them in any order you want to, but of course, I’d always looks for the best bonus available as it comes to timing. For example, the Citi Custom Cash usually always has the same bonus, but the Premier card is elevated right now to 75k points, so maybe you get that one now if you want to take advantage of that. It depends on your goals though.
If you have the Chase Trifecta (preferred, unlimited, flex) and the Amex Gold. Would you still get the Venture X?...or is that too many different platforms? If not the Venture X, I was thinking about a hotel card. Either Marriott Boundless or Hilton Surpass. I appreciate any feedback...
Personally I have all 5 of those cards and plan to get a lot of value from each of them every year. Having some point diversity isn't a bad thing, especially if you plan to transfer out to travel partners. Also remember that some of their transfer partners overlap, so you can effectively combine your points from all of those cards with those overlapping partners if need be. However, if you want a more simple setup, maybe you don't go for the Venture X right now. I think it's pretty easy to justify in any setup though. Hotel cards are great too! Everyone loves the Hilton cards and I've heard great things about the Boundless as well, so I'd pick the one that fits your travel habits best.
Personally, I'd say you should add all 3 of the cards you mentioned if you can handle it and get positive value from them every year. That's just my opinion though!
@@SpencerJohnsonOfficial thank you for your feedback. I really appreciate it…
Of course man!
Great video Spencer thank you so much!
I have been using Cap 1 secured credit card since Jan 2023 - Paid 3 statements.
Also, have checking account and Chase student card 1k limit since Feb 2023 - Paid 1 statement.
I'd like to get the remaining 3 slots from Chase but, I don't want CFF or CFU. I want the CSP then Hayatt and IHG.
What is your recommendation regarding the time of applying to these cards? Do I have to wait for the whole year?
Utilization 1%
Income 70k
I'd appreciate your response and help. Thanks.
No problem! And thanks for the kind words! I wouldn't say you have to follow any specific path. I just laid out some optimal ones here, but if you have different goals, then you have to do what's best for you. You don't necessarily have to wait a whole year to get approved for those cards you want. 6-12 months of history is just recommended by the majority of people because of how strict Chase can be. But since you have the CFS, you may be able to get other Chase cards sooner. I'd personally let that card age a little bit to be safe, but if you physically can't wait then you could apply earlier and risk the hard pull. If you're already well above a 700 credit score, you have better odds too, so keep that in mind. Maybe you just use the cards till you're at a pretty high credit score and apply then. There aren't any hard set rules here though.
@@SpencerJohnsonOfficial Thank you so much 🙏🏻
@@mesharial-suwailem4069 Of course!
can I start directly at Chase reserved or prefered ?
There's not necessarily a reason you can't do that, but you just have to consider what your ultimate goals are in the credit card game. If you're just getting started, I would recommend getting a couple no annual fee cards that you can keep open forever rather than jumping straight to a high annual fee card, but if that doesn't make sense for your situation then you have to do what's right for you. The one thing that could stop you from getting those cards is a lack of credit history, but if you have a high credit score, can get approved for them, and want to skip all the other cards you technically could. My answer would depend on what other cards you have right now I guess.
I got the discovew it right of the bat with a 2.5k limit{in febuary} what should i go for next? for chase the freedom flex.
Congrats on your first card! The Discover it is a great one to start with. If you're someone that is going to want some Chase cards down the line, I'd highly recommend adding them in next. Either the Chase Freedom Unlimited or Chase Freedom Flex. Eventually you should maybe even have both depending on your spending habits, but those cards would be two I'd consider adding next.
I applied for the Chase freedom flex card 7 days ago and have heard nothing back. Is that normal?
Good question! I haven't had that experience personally, but I know sometimes it can go to a "pending" status and they let you know 7-10 business days later or something like that. I'd recommend calling their reconsideration line to see if they need any extra details from you before making their decision. Sometimes that phone call is all it takes to get approved.
@@SpencerJohnsonOfficial Thanks 🙂
No problem!
I'm out of the game.
Nooo Jason whyyyy
Or....cash is king 😉
🤣 Dave would be proud!
@@SpencerJohnsonOfficial this video was mind blowing to me. It's a great idea to have a credit card plan 👌
It's also a great idea to not pay interest on everything 🙃
Get your credit score high...and stick to cash 💸 just IMO 😉 😜
@@mobilegamersunite Well I appreciate that! It's 100% important to have a plan and use a credit card like a debit card. Paying off your balance on time and in full every month is essential. I respect your opinion for sure! And I appreciate your comment.
👍
Thanks!
First comment
I appreciate you!