Credit Shifu and Ask Sebby are to the RU-vid credit card game what Chase and Amex are to the points and miles game. These guys are the powerhouses! Thanks so much for the great content.
Hey just wanted to take a moment to tell you how much I love your videos. They’re super educational, accurate, non-bias, entertaining and I appreciate you taking the time to make these extremely quality videos. For me I have a chase sapphire reserve and I was extremely nervous the moment i signed up for it, the $450 annual fee fear started to creep in however within 3-4 months of use I’ve already made more than $650 in value. This thing is a points monster and then in addition if I factor to travel credit, TSA credit, priority pass (i travel for work) its an amazing card. I also think you’ve sold me on getting my wife to get the chase Hyatt card. She needs a credit card to help build her credit. Thanks again - consider me subscribed
I think the tiers are accurate. For myself, the top tier cards make no sense to me because I do not travel enough to really warrant having those cards. I just like the cash back cards.
@@crxracer805 not everyone can ...tho... so maybe they arent able to whether it be being too busy or financial. No offense to the original poster for saying that btw.lol
@@crxracer805 Well he is spending with that cc company. And the concerige is a huge benefit which is why he was able to get it by having that platinum. They are able to go beyond means to get their customer anything they need. It's like getting that 1 thing you wanted but you couldn't get it because it's always sold out and/or limited. Pretty much skipping a huge line and some people won't be able to experience what he did at that time and moment.. TL:DR- The concerige going above and beyond to get him tickets and that offset the annual fee(in his eyes). Since you most likely won't be able to get tickets unless you camp or pre order ahead.
paid off all my cards a couple of years ago, and my credit karma says I still have a credit score of 815 and 810....Im good with that...and life is so much easier!
Funny enough they made me mail in proof of identity after 5 purchases, what a hassle just to have their card. Made me so upset I was thinking of canceling it but I had already paid off the yearly payment.
carlos herrera I never had problem with them yet. First card after BK, pay my bill to then with Chase Bill pay takes one day. They even up my limit $300 within a year.
I my first too cards were Foundation cards, one was a Freedom card and the other was one from my bank with cash back. I just have 2 credit cards, but I don't think I'd want to cross any more 3 or 4 cards, remembering all the pins is pain as well
Will you possibly get a chance to review the Centurion lounge in SEA (Seattle-Tacoma)? I'm moving to Seattle at the end of this year and I've noticed they have a Centurion lounge over there, which I might get a lot of value from by keeping the Platinum card, but nobody have ever done any review to this specific one so far, I think.
Dingming Zou Sea Centurion lounge is nice, but one of the smallest of all the Centurion lounges and no hot food there. Although, with platinum card you can get into the new Delta lounge if you flying Delta. It is one of the best Delta lounges I have steped foot in.
Thank you! but no hot food is quite a shame, unfortunately I'm not flying delta for my upcoming trip to Japan (I used to fly Delta 80% of the time until their domestic first class meal service pissed me off last time..) thank you for the info!
I actually laughed when you said.... " some people get angry...." Wow.... some people need to relax a little. Just found your channel and enjoying the videos. Good information!!
I think this would be a lot easier to understand if you broke it down by groups of people. Like people who use credit cards just for credit score and what level they should stop at vs people who want to get cash back vs people who travel a lot
Fun fact, I thought I'd be fine to downgrade my Delta gold amex but it turns out they only refund 11 months of the AF if you do it AFTER the fee posts. Just fyi. It's only like $8 but it's still more than 0 so worth noting.
You need to start building your credit. Credit is for ever. There are start up credit programs that you can get in, Finance due diligence, and net worth is very important......................
Alex Myers yes, 0% utilization might not show a payment for that month. It could hurt you in the future for future cards. So if 1% shows and you pay it at the statement it will have no interest and shows a payment for that month.
According to Experian a 0% credit utilization is better than a 1% although just marginally. There is this myth that if you use your credit cards but pay them off before your statement due date it makes it look like you don't use your credit cards. In many cases that's simply not true. First of all let's say you do this with AMEX, THEY know you are using your credit cards even if it doesn't show on your credit report, so you don't need to leave money on your account to show utilization. Also many cards show your usage even if you pay before your statement closing date and always have a 0% credit utilization. Chase is famous for this. I've always paid my Chase cards before the statement closing date and have always had a 0% utilization and yet my credit report shows me using my card. Long story short 0% is better than 1%, but probably won't change your score more than 1%. There's another channel out there called Beat The Bush and he clearly explains why 0% is better than 1%.
I tried to pay the balance in full before due date. On my credit report it show I did make payment but the credit card utilization is 0%. However I tried to leave a little balance unpaid. On my credit report it actually shows 2% credit utilization and my credit score increase around 20 points. So I guess the best strategy is pay the “full balance minus a few dollars.”
I have a question regarding a "product change"; I understand the impact on closing a card therefore considering to change a card. My question is as follows; what happens when it's a product change; from MasterCard to Visa; the numbers will change and how does that impact your credit score? For example; I have a Capital One Platinum and QuickSilver one; both Mastercard. I'm sure I qualify for a Venture One Card (Visa)... Whats happens; wont it be reflected as a "brand new account"? Therefore historically impacting your credit accounts?
My wife and I love to Cruise and we have a BoA Royal Caribbean branded card and in less than a year got a free cruise. Are there any negatives to this card are there other cards that are more beneficial?
For a good long term card, get a steady 2% cash back card. The Citi DoubleCash and the Fidelity cash back cards reign here. The Chase Freedom has a pretty decent sign up bonus, but unless you spend a lot on rotating categories, there isn't much reason in using it after said bonus vs a 2% flat rate card.
Hey Sebby, I got a question. I started with a secure card last year built my credit score to 750. This year I applied and got the Amex Platinum. I use it for all my spending and pay it off right away. I realize the Amex gold would be better for my everyday spending and groceries and the platinum is better for my travel needs. Since I have the platinum, am I kinda “pre approved” for the Amex gold?
Yes, if you can get the sign up bonus for both cards. After year one, you need to look at spending to see if you still get value based on what you purchase.
This tier system ignores the real bottom tier cards like those Credit One cards or Capital One Platinum and also ignores the super premium cards that should tier 0 like the Black card. Good attempt, but Credit Shifu's tier system is better. This particular tier system should've been 7 tiers, not 5.
I have a FICO in the 730's, but a thin credit file with four cards with my oldest account being 10 months. I pay my balances often and early. When will I start getting pre-approvals for premium cards? I have the Discover IT Miles, Amex Blue Cash, a starter card from my bank that product changed into 1.5% cash-back card, and a secured card from Capital One. I have total of $5000 in credit among all my accounts.
Question: If for the sign up bonuses you may not be able to hit the minimum spend, is it fine to get help from say a close relative by allowing them to spend on the card that which they would immediately pay off with the money they would have spent normally to help?
should i upgrade my Captial One Platinum (Tier 1 card) to Quicksilver or just apply for Quicksilver to then have 2 cards (which will make my 1 missed payment equation better in my favor)?
Absolutely product change to the Quiksilver! I hope this comment wasn't too late. Reason being you don't want to waste credit card slots if you don't have to. Now you can waste a hard pull on a card that you'll benefit more from.
Yes I think you're missing a major step or factor when pushing to have so many cards like this. At the very least you should have offered some guidance on limiting how fast you acquire new lines of credit. For someone who has 2-3 cards, let's say, to have 10-20 like you suggest, and doing it in a short amount of time, even a year or two, is crazy and that many hard inquiries will nail you hard and make you be a red flag to lenders.
I'm sure you covered this in a different video..... When do i cancel a card? I am in that boat where my credit says I don't have old enough credit (My oldest card is 2014), but I also now have tier 1 cards and a nice high 700/low 800 score. Also, when I cancel these other cards, how do I get the credit card companies of the ones I keep to raise my limits? Thank you
Probably 5/24: www.asksebby.com/blog/rules-to-know-for-chase-credit-card-applications If you want to talk strategy moving forward: www.asksebby.com/free-card-consultation/
I had a question so lets say i decided to take 2 credit cards to avoid annual fees can i combined them and put them into a bank credit card? I have 2 first premieres
This is my primary use CC. I’d say it’s a tier 3 offering (due to the Amazon Prime fee), or a tier 2 if you dump Prime and actually make it not have an annual fee. Dumping Prime moves your 5% Amazon category down to 3%, but otherwise it’s the same. I’ve had Prime since it became available just for the shipping, so in my case this card makes sense because I shop at Amazon a lot and the extra 2% probably pays for my Prime membership every year (or close to it). 2% on fuel , pharmacies, and eats also means I don’t have much use for something like a Citi Double Cash card. If it was 2% on groceries too, it would almost be perfect as an “everyday use” card (I don’t live near a Whole Foods store to get 5%). It is cash rewards (statement credit, gift card, money off at checkout, etc.) but cash is king. I wouldn’t mind if they allowed points to transfer for travel but I guess one card isn’t going to do it all. I think this card is solid though...no complaints from me. I would have applied for it even without the gift card bonus...which is good, because $70 for a card that you have to pay $99 for each year is pretty lame. I would rather have had a free year of Prime!
Crypto Cam you get point toward Amazon .Going to your Amazon account and go to shop with points or your Chase app and it will show you how much you have
Sebby if you do a full list from start to top cards now you did secure card I Pass that with a 737 what should I be looking to apply I just did invited with penfed $10k . Looking to do second Amex no annual what you think
Hey Sebby, I’m a college student and I’ve watched a lot of your videos . I started building credit on a Amex Delta Gold Card that my mom signed me up for, My credit score is over 700( in the 760’s) and I’ve had the card for 2 years. But I wanna expand my base should I go back down to the starter like Chase Freedom or Discover It to build up my base the right way ?!
If you're legit selling them to friends there's no big deal. If you WENT with friends, you assume they'd pay for their tickets anyway. Yeah, making a profit is a little dubious, but as long as you're not selling them online you're probably fine.
So for prepaying cards I need to put the money on the credit card ahead of making purchase ? Or do you mean pay the card off before the statement is due
I have a question. If anybody can direct me to a video where he talks about this it would be greatly appreciated. If I want to take the “more aggressive” path and have 20 or so cards in the future, he recommends getting around 10 starter cards now. How do i go about getting these starter cards without getting a bunch of hard inquiries and therefore lowering my score? Thanks
It's a 2 steps back, 3 steps forwards approach. To add cards, you'll be getting inquiries. Inquiries stop affecting your score after 1 year and drop off your credit report completely after 2 years. Cards, on the other hand, stay with you "forever" unless you close them.
Yes. You will have to close one account to merge the credit limit with the other. I did this with 2 capital one quicksilver cards. It dropped my score a small amount but bounced back quick.
Hey Sebastian, Would I have a good chance of getting approved for any of the following, the new Chase IHG Premier Card, or the Amex Hilton no AF, or the Delta Amex no AF? I have 6 months of credit history and a Discover with $3.5k and a Freedom with $600. My scores are Tu 710 Eq 709 Ex 696. My utilization is around 1 to 5 percent. I also pay in full if that helps.
Jack Bahribek Do the free credit consultation on his website. He gets back to you in a couple days, is very concise, and will give you options for cc paths according to your qualifications and needs.
I’d echo that. Consultation is good. Anecdotally, I got the old Amex Hilton Honors card when my score was in that range. I still think Chase Marriott, Hyatt, CSP/CSR is better
