How To Climb The Credit Ladder In 2021 - Tier System Explained (UK Edition)

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A full explanation of the credit ladder and how it works in the UK.
In this video I go through the different tiers of credit cards, what the difference between these tiers is, the types of products in each tier with lots of examples and explain what it takes to move between tiers.
I was inspired to make this video by Ben @CreditShifu who did a Credit Ladder video a few years ago for the US market and then did a 2020 update more recently - check out the update video here: • How To Climb The Credi...
As there wasn't anything similar for the UK market, I thought I'd talk about the way the tiers work here and the specific credit cards that are available within each tier.
Introduction - 0:00
Tier 1: Credit Builder credit cards - 1:08
Tier 2: Basic credit cards - 4:23
Tier 3: Reward and Debt Shifting credit cards - 7:52
Tier 4: Premium credit cards - 11:08
Tier 5: Black cards - 16:58
Link to the video about the last remaining UK cashback cards: • Best Cashback Credit C...
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DISCLAIMER: I am not a financial advisor and this is not a financial advice channel. All information is provided strictly for educational purposes. It does not take into account anybody's specific circumstances or situation. If you are making investment or other financial management decisions and require advice, please consult a suitably qualified licensed professional.

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30 июл 2024

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Комментарии : 200

@DreamPhysiqueCoaching 3 года назад

Love your channel and videos, one of the best out there. Im 18 in the UK and I am so glad I've found your channel

@SashaYanshin 3 года назад

Thank you Omar - really appreciate it!

@ritajames7797 2 года назад

Super content, Sasha! Thanks for posting information that is relevant to us in the UK.

@michaelgibson9381 3 года назад

Great stuff. I also watch Credit Shifu, but I sometimes think for someone living in the UK, certain videos and discussions are irrelevant for us. Super idea to do your take on a UK version. Loving the content.

@SashaYanshin 3 года назад

Thanks Michael - maybe I'll make it a regular thing to take stuff that's popular on US channels and openly do a UK version which might help people :))

@teshiburu 3 года назад

Just found this, and as someone who made critical errors with credit when I was 18 now 33 trying to get credit years on, I'm finally accepted for an aqua card and can start rebuilding my credit!!

@SashaYanshin 3 года назад

Good job! Keep it up and you’ll be reaping the benefits before long!

@arthurdanielles4784 3 года назад

Good news. Be honest and upfront with Aqua. Advice such as this guy gives is good wholesome advice, no credit card user has the excuse that they can't manage their credit card to give them additional benefits including up scoring etc. If you pay your bills on time or are paying off loans etc sensibly then TELL THEM.👀They can then SEE for themselves that what you tell them is FACT when you send them statements to prove how responsible you are. IF you're MANAGING your money, are financially behaving yourself then be PROUD of that however small it may be.. way way better than those who are NOT and don't use but ABUSE their credit card. 👀

@TheCreditShifu 3 года назад

Thanks for the shout out bro

@SashaYanshin 3 года назад

Credit where credit is due seeing as I ripped off your thought 🤣

@TheCreditShifu 3 года назад

@@SashaYanshin well it’s a UK version, so you put in the research, good idea to remix my original video for UK, there are many people who just copy but don’t put in any of their own work. I will recommend this video to people when they ask for UK cards (I get a lot of people asking)

@SashaYanshin 3 года назад

@@TheCreditShifu Thank you so much! I was looking at your channel among all the others when I was first starting out trying to figure out how to do this whole RU-vid thing - really appreciate it! I would have loved to see your face when you saw the title and thumbnail of this one though! 😁

@Archived-Moments 2 года назад

Great stuff man - super helpful as a UK guide!

@inspirepaul3258 3 года назад

Watched the whole thing! thanks for the insight.

@SashaYanshin 3 года назад

Thank you for watching! Glad you found it useful!

@ladoo60 3 года назад

I just got accepted for my Aqua Card today and plan on climbing this ladder over time! Loved this video! Thanks for the insight, you just earned yourself a Sub! :)

@SashaYanshin 3 года назад

Thanks Jacob! Good luck with building your credit!

@davemaches2027 3 года назад

Thanks for the content! Very helpful!

@SashaYanshin 3 года назад

Glad you found it useful Dave!

@kadose 2 года назад

Great stuff, subscribed!

@SashaYanshin 2 года назад

👍

@calvinchow160 3 года назад

I managed to get a Tier 2 card with my bank without ever having any credit before that. I think the reason was because I had consistent amount of money coming in monthly as well as having had accounts open with them for a long time.

@SashaYanshin 3 года назад

Your own bank is often a good way to skip the first step :)

@cdlikecdrom 3 года назад

I moved here 3 years ago and knew nothing about credit score, I’ve just got my aqua, hopefully I’ll be able to get better ones and have a good score

@mae5850 3 года назад

Hello hi! can I use my credit card for petrol? cornershops? or just bills, rent and big purchases (like a TV for the insurance)? Also if my credit card limit is £5000 and I only use £150 (3%) is that too low? Thank you so much for your content!!

@mysticgames1567 3 года назад

hiya i like your video`s and it helped me understanding the difference of credit cards ... thank you

@SashaYanshin 3 года назад

Great I could help! Thank you for taking the time to write the comment! :)

@asher0078 3 года назад

Thank you so much 😊 ✨✨ I had to subscribe

@SashaYanshin 3 года назад

Thanks Aisha! Glad it was useful!

@AJ-nd4nk 2 года назад

How long does it take to climb the tiers, i.e. going from tier 1 to 2 and so on?

@anthonymeek4248 3 года назад

Great info. I turned 18 in September 2019. And took out a phone contract with O2. I got my first credit card in January 2020 with Aqua. In August 2020 I was accepted by Amex. On most eligibility checkers the high street banks would say I wasn’t eligible where as Amex was 70%. The only lender that is prime who’s above 50% for me recently is Sainsbury’s Bank.

@SashaYanshin 3 года назад

Nice work. Which Amex did you get? Presuming one of the Cashback twins?

@anthonymeek4248 3 года назад

@@SashaYanshin Yes. The everyday one. Mind you in hindsight after going on a stay cation in August, buying some tech for uni and finding out I could pay my university halls rent on it the one with the fee may have worked out better. However I don’t expect to be able to pay my rent through anything other than direct debit or transfer when I move into a house share so the amount should fall quite a lot next year and make the everyday one better in the long run. Aqua started me off at £250, then £600 (4 months later), then £1600 (2 more months later). Amex started me of at £1700. I spent £2.5K on it in August. A few weeks ago I requested 3K just to make the utilisations lower. I tend to spend only around 1K a month now on it. Have not paid any interest on either.

@SashaYanshin 3 года назад

Good! Keep it that way! How long did you have the Amex before they gave you an increase?

@anthonymeek4248 3 года назад

@@SashaYanshin I got the card late July / early August and I applied for the increase after my 3rd statement so start of this month November. I don’t really know if I should of asked for a bigger increase than 1.7K to 3K but I didn’t want them to decline it on the basis of being too greedy.

@innerstoic-g6y 9 месяцев назад

@@anthonymeek4248 hey bro its probably a while since this comment but its really cool that you were able to do it at such a young age, i just turned 18 myself and ive got a contract already and a beginner credit card (through capital one) but i really just wanted to ask, which amex card did you get? was it a blue, gold or platinum one? thanks so much dude!

@quaysidetravelcentre425 3 года назад

Great info. I prefer the Sainsbury’s Credit Card as you get nectar points on your day to day spending which works out far better than cards that you have to pay for their perks

@SashaYanshin 3 года назад

Agree regarding some of the paid options but I'd still take the Amex Platinum Cashback card over nectar points :)

@MrMannekuin 3 года назад

got my vote nice work

@SashaYanshin 3 года назад

Thank you! :)

@LeKretch 3 года назад

Just a quick mention on the 118 118 card, they say they dont have fees and this is how they market it but they actually charge a "monthly subscription fee" depending on your limit . They really keep it on the low but can be around £10 and up.

@SashaYanshin 3 года назад

They used to do that but they actually changed it at some point - I think possibly a year ago. They now charge just a single interest rate and no fees at all. Those who got the old cards may still be on the monthly fee but that fee was designed to essentially replace interest for those who are paying interest anyway.

@LeKretch 3 года назад

@@SashaYanshin Ahh right, I was in contact with them in March this year so I guess things have changed since then!

@BlocksAndStocks 3 года назад

Hi Sasha, finally someone with UK based credit card videos! I'm enjoying the content! Do you know if there's a way to get bigger limits on cards for a basic rate tax payer? I have a Tesco bank, Sainsbury's and Virgin money, but none of them want to go over £5000 limit. Cheers!

@SashaYanshin 3 года назад

Thanks Pawel! I actually have two videos where I talk specifically about how to get credit limit increases - they are some of my older ones so excuse the quality! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-PD6MXlG1qDs.html ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-szfOyRUrmMg.html £5,000 is not too bad though for a regular card that isn't a balance transfer/money transfer/0% purchase incentive card - typically the BT/MT cards will be the ones giving the highest limits.

@BlocksAndStocks 3 года назад

@@SashaYanshin Thanks for the brief reply! Will defo check those videos out.. Meanwhile I will share some of your videos on my FB page for my friends.. Cheers!

@SashaYanshin 3 года назад

Thank! I really appreciate it!

@joshuaposton1070 Год назад

Great factual video, I got an Amex British airways standard credit card as my first credit card at 18 👍

@provian 3 года назад

my daily card is still the aqua reward card which probably offers more tangible value than most of the cards higher on the "ladder". its especially good for foreign purchases which i do a lot which effectively gives me a 6.5% rebate (other cards charge 3% for non sterling, use the visa exchange rate and don't offer the 0.5% cash back). i will probably keep using this card forever as I don't see myself charging over £20,000 a year any time soon to max out the £100 cash back cap.

@SashaYanshin 3 года назад

I've got one of those too... :) If your limit is high enough for it not to be annoying, then why not!

@provian 3 года назад

@@SashaYanshin i've used it for about 2 years and recently got it to £3100 limit, from the starting £250, which is definitely enough for my current spend rate. at some point i was using the free BA amex but realised I do not travel enough for the avios to mean anything so switched back

@-vz- 3 года назад

that's great man

@1qualitybacon 3 года назад

@Sasha Yanshin Hey Sasha awesome vid. I've been using two credit builder credit cards for a while now over a year for one. What's my next step. Do I close these card accounts and then apply somewhere else for a better interest, higher credit limit card with someone? Or do I keep the open when applying and then close them after I get my new card?

@SashaYanshin 3 года назад

If you only have two cards and if they have low limits (as credit builder cards usually do), it won't really make a lot of difference in all honesty but there are a million other variables that may impact whether keeping them open or closing is the better option.

@kevinhughes9801 3 года назад

Great video thanks

@SashaYanshin 3 года назад

Cheers Kevin!

@johnislleshi5603 2 года назад

I'm 18 and never had credit card, I have a job and lots of expenses, would it be a bad idea to start with the american express card that gives you cash back and has no fees?

@mohammedkahaf2428 3 года назад

I have Barclaycard forward card amongst others, am I able to upgrade my Barclaycard into one of their higher tier products or do I have to close the account and reapply?

@SashaYanshin 3 года назад

I think Barclaycard allow more than one account per person so you don’t need to close the old card before applying. Might be wrong though - check the eligibility bullet points 😁

@Yunhomatata Год назад

Helpful video. I’m a uni student and just got my first credit card which was the BA Amex. No credit history besides my phone bill and no job, although I did do a internship last summer. Hopefully can build my score up now

@zakbakali1870 10 месяцев назад

Do u earn 20k? Min

@Yunhomatata 10 месяцев назад

@@zakbakali1870 I mean now I earn 4x that, but as at the time I applied the only income I had was from my 2 month summer internship where I earned around 18K. I think I rounded up to 20K in my application tho

@drmoneyuk 3 года назад

Is it true that i should pay my credit card only after the credit card company reports my balance to the credit agency? Like pay just before the due date to avoid interest but allow credit card agencies to report it first?

@SashaYanshin 3 года назад

Not true - you won’t know when the card company reports and the reporting is not done in real time as a snapshot on that day anyway. If you want to improve credit what you don’t want to do is to repay the spending immediately. You will want a balance to show on your statement and for it to be there on whichever day the card companies use as their reference point when generating data. The best and easiest option is to set up a DD to repay the card in full every month. That way you don’t need to time it or remember to do it and you won’t ever miss a payment.

@amirpenkar947 3 года назад

Very helpful for me as an 18 year old thanks!

@SashaYanshin 3 года назад

Thanks Amir! Best of luck out there on your journey.

@onscott 3 года назад

should I get new credit cards or just keep one and try to increase my limit? and if I were to get new cards, how often?

@SashaYanshin 3 года назад

Ha. That's a lot of questions in one! It doesn't matter too much is the answer. The age of oldest card that US RU-vidrs talk so much about is almost never much of a factor in credit scoring if at all. The number of credit cards can be a factor but only really if that number is high and the same goes for limits.

@Extreme_Gardening145 Год назад

Why would you want anything better than a tier 2 card if you won't get enough out of any rewards to justify the fee? Are the credit limits necessarily higher on a Tier 3 card?

@likhan.ghosh. 2 года назад

You’ve got this slightly wrong…. Tier 1: Credit Builder Cards - Typically aimed at people with poor credit scores. Expect high APR’s of around 30% and low credit limits starting from around £150. Usually offered to those new to the country or ex-bankruptcy customers. Cards in this category are Vanquis, Marbles, Capital One. Tier 2: Vanilla Cards - Cards with no perks, but a step up from credit builder cards. Slightly better APR’s, that’s it. Aimed at people with low to ok credit scores and expect APR’s around the 18% mark. Cards in this category are usually anything from your high street bank. Tier 3: Balance Transfer Perks - These are for people with better credit scores and offer perks such as balance transfers, no foreign transaction fees etc. These cards usually have no annual fee. Offered to customers who have a track record of repaying debt. Cards in this category are usually Virgin Money, MBNA and Barclaycard. Tier 4: Cards with Perks - These cards have fees but offer perks including lounge access, travel insurance, concierge service, airline status etc. Aimed at high spenders with excellent credit scores. Cards in this category are American Express Platinum, Santander World Elite and Barclaycard Avios Plus. Tier 5: The Elite Cards - Exactly what you said. Examples include American Express Centurion and Coutts & Co

@top10clips56 2 года назад

i cant get a credit card at 18 ive checked on all of these what should i do?

@boxpromotions 3 года назад

I got accepted for American Express after using an Aqua card (first credit card) for 5 months. You can definitely speed the process up

@SashaYanshin 3 года назад

There is definitely no one size fits all - congrats on the speed and it sounds like you're doing all the right stuff!

@GamingAging 3 года назад

How did you get accepted for American Express in that short amount of time? How much were you spending on the Aqua card a month over the 5 month period?

@boxpromotions 3 года назад

@@GamingAging keeping it to 20%, did other things as well though… wouldn’t have got a phone contract last year and now accepted for amex

@amandabass04 2 года назад

which banks in the UK offers Amex cards

@Daniel-ht4wr 3 года назад

Really interesting video Sasha, enjoyed it thoroughly I think I've heard Dave Ramsey say that when you use a credit card, on average you spend more than you would on debit and a lot more than you do on cash, simply because you feel less "pain" when spending the money. Although if you are really good at controlling your spending and never go into debt with a credit card and you beat the system with regards to your monthly spend and collect your points or whatever and gain credit. From my perspective i just don't think there seems to be that much advantage to credit cards, ive never had a phone contract or a car payment. I accept that borrowing money via a mortgage is something i will have to do in the future though. Do you think that there is an argument for credit over debit?

@SashaYanshin 3 года назад

My second oldest video (excuse the quality and me not knowing what I'm doing) talks about this very topic - ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-iHYqBBcSbk8.html There's a load of good reasons for using a credit card. Building a credit history is one and is important if you ever want to get a mortgage, business lending or anything else like that in the future. Plus you get S75 protection, limit access to your current account, ability to be more flexible with paying for items without having to borrow, etc, etc, etc. I'm really not a big fan of Dave Ramsey - he is overly simplistic and it probably works if you have no self control, no ability to think for yourself and no ambition to really improve your financial position to the point you want some random guy to shout at you from the screen.

@Daniel-ht4wr 3 года назад

Thanks!

@daria8962 3 года назад

Awesome!

@SashaYanshin 3 года назад

Thanks Daria!

@Kaiyats 3 года назад

You can get all of this stuff with curve metal or Revelout

@ErosiumTV 3 года назад

Hey Sasha, I am a UK based investor (I have 3 properties (2 BTL Properties) and 1 owned). But in all honesty I have a fairly bad credit score, I would like to improve this to help with future investments. But I have not ever used a credit card, I am clueless in all honesty how to go about growing my credit score (571 roughly) and just need some basic advice based off your experience? I naturally understand you aren't a financial advisor but it would be good to hear your thoughts as to how i could tackle this problem head on?

@SashaYanshin 3 года назад

Check a few other videos I have about credit cards - there's a few bits in there about that. Some of them are older so excuse the quality! :) In short, 1. The "credit score" is irrelevant - whichever one you're using it is a very rough representation of your profile and is not used by lenders. 2. I can't advise you as I don't know your circumstances but for many people who don't have any kind of credit, getting a credit card, using it for regular purchases and setting up a direct debit to repay it in full every month will help build credit and improve their eligibility for credit in the future. Truth is if you already have 2 BTL and 1 personal properties, the likelihood is that your credit is not too bad ;) But an unsecured revolving line of credit is a pretty good way to make sure in many cases.

@ErosiumTV 3 года назад

@@SashaYanshin Thanks for the quick reply on this one Sasha. I have had some issues during my university time 7 years back where I had to unfortunately live in my over-draft due to very low grant and lack of support from parents and that pretty much gave me a bad start in terms of credit score (I think) and since then I managed to clear my debt and start my portfolio. However i have always wondered how to fix my score and get it better, recently it has been going up but I don't think it has much relation to anything. It's more of just makes it easier when figuring out which lenders i want to use for mortgages. So basically using a standard credit card and setting a direct debit to clear the amount each month will grow the credit score? Thats fantastic. Is it a relatively easy setup the direct debit to automatically work out how much needs transferred or is this just an ad-hoc thing to keep up with? Thanks again Sasha, really enjoying your content thus far!

@SashaYanshin 3 года назад

Setting up an automatic DD for the full balance is very easy and possible with every credit card provider with just a few clicks. Having a card is not the only issue though - you'll want to pay down debts, not miss payments, not go over limit, etc etc etc. :) It even comes to how much you make because that will indirectly affect your profile through indebtedness metrics AND this data is beginning to be used more in verification processes (actual amounts landing into your current accounts).

@ErosiumTV 3 года назад

@@SashaYanshin Oh wow I had no idea it was so easy. I'll get right on it, I was going to try a tier 2 or 3 as a start? I know it's rather silly to have not done this already, I just had such bad experiences with debt at 18 that its taken me 10 years to want to give credit cards a go. I luckily have no debt other than my 2 x BTL mortgages and my last missed payment was a phone bill apparently 5 years ago. It's odd because I save almost everything I make and I have learnt to budget myself well, but my friends who don't invest or save anything they just buy everything and have bad debts; have better credit scores than me. Thanks so much for your advice Sasha, honestly so helpful.

@user-uk6bd4pv8z 2 года назад

I have 7.5/10 pre approval rate on American Express website for their platinum everyday card. Would you recommend applying with this score. Please kindly reply! Thanks

@albertoskytwins3527 2 года назад

I had a 2/10 rate but I decided to apply cause my brother sent me a referral and I got accepted 😁

@TheMuhammedtaha1 3 года назад

do you know if there is any way for Uni students to build their credit scores? all the student credit cards I checked require you to have income, which (ironically) most students don't..

@SashaYanshin 3 года назад

Sometimes your own bank may have advantageous terms for getting a credit card if you already have an account with them - worth checking. Otherwise, it's going to be tough until you do get an income but things like mobile phone contracts can help and will become more useful in the future although their role in your credit scoring is not huge.

@Kaiyats 3 года назад

Loqbox

@MikeTys0n19 3 года назад

Just a quick question I’ve never had a credit card before how do I pay the credit card bill of with my debit card ?

@SashaYanshin 3 года назад

There's usually a range of ways. A direct debit using your bank account is the easiest and best way as it guarantees the payments will be made but you can make manual payments using a debit card and in some cases other weird and wonderful ways like giro slips or doing a faster payments in.

@Kaiyats 3 года назад

On the app you can normally pay pretty easily

@edmacs9649 3 года назад

Awesome stuff! I'm working in 5 star hotel as a reception and I'm happy I touched and charged Black AMEX( very heavy) and Coutts Silk Card( plastic like any other simple CC). Kinda sad I will never have one of this CCs in my lifetime. :(

@SashaYanshin 3 года назад

1. Don’t tell yourself that things will never happen because life is a long and mysterious thing and you might just surprise yourself. 2. Those super premium charge cards are not really all that - the main target audience is people who like showing off their wealth which is only a small subset of wealthy people.

@Kaiyats 3 года назад

While working at a store I saw an old lady pay with a coutts card, I wish I could ask her about her life but that would just be weird so I just played it cool. I doubt it would play over well if she said i was eying up her card 😂

@CAL1MBO 2 года назад

It has to be the Silk card.

@alfredgodwin3884 Год назад

Question: I'm looking to move onto the basic credit card when i do shall i stop using my aqua card? I've been using my Aqua card for about two years now my limit has increased nicely and i have never missed a payment. Scenario/question: I've used 40% of my limit on my new basic credit card if i can easily pay it off on time, is it safe to then use my aqua credit card?

@ryanredmond5559 Год назад

Yes its fine as credit agenceys like trains union combine your credit cards limits as a total limit for example my captial one has a limit if £500 and my aqua is £900 they count this as a total limit of £1400 so it takes up less utilisation on my credit report but its better to keep all ur cards below 25% and pay in full also loqbox have launched a free credit account that gives u a “£2000”.credit limit to makw ur credit report look better

@marcb8934 Год назад

Massive issue I have is many accounts up to date, and low to zero defaults, and missed payments. However last time i checked it showed rating 1 out of 5 at 478 score. But, paid off most accounts to zero very quickly. long standing accounts over 12 months. total active accounts 69

@hashir 3 года назад

You can now convert Nectar points into avios points. Which is probably why Tesco has stopped it.

@SashaYanshin 3 года назад

I have a load of avios but find that 95% of the time I would like to use them I can't. I don't happen to book my holidays 1 year in advance which is apparently the way some people make good use out of them :)

@kavigoswami9972 3 года назад

Just subscribed ✌️

@SashaYanshin 3 года назад

Thank you! Hope you find future content valuable!

@peppesan86 3 года назад

I got my first credit card with my bank at the end of 2019. Didn't apply for any other until one week ago. Used a balance transfer one from Tesco as I needed some money from my original credit card for some investments. Hope in a year or so I'll be able to repay it and look for another one to build up my credit history. But, something weird with my bank credit card happened: they lowered the max amount I could have borrowed from them, so Now it's roughly 2/3 less than before :/

@SashaYanshin 3 года назад

Did you fund an investing account with your credit card? That would be a big warning flag for any credit company as it's generally a bad idea to use credit for investments.

@peppesan86 3 года назад

@@SashaYanshin Yes, I did :/

@CJ-111 3 года назад

Good to see U.K versions of credit videos. Just got the AMEX platinum cashback card, so we will see if it is any good..

@SashaYanshin 3 года назад

Thanks and hopefully a lot more to come in the next few months!

@leogatineau2258 3 года назад

Love the video ! What advice would you Have for an 18 year old who only has current accounts ?

@SashaYanshin 3 года назад

Err. If you want to build up a credit history to qualify for good credit products, mortgages, etc in the future you will need to get a credit card. Most likely if you are 18 and haven't had credit before, you'll be coming in at Tier 1 or 2. Most important thing though if you're young is to be super careful with how you use the card. It it easy to get carried away and spend money you do not have, get into debt and then spiral into trouble.

@Kaiyats 3 года назад

When I turned 18 a few months ago I used Loqbox you pay £20 a month into it and they report the payments to credit reference agencies register to vote and do that for six months and you’ll have a basic credit score you can then use clearscore and they should pre approve you for a credit card

@Oitswan 3 года назад

Please make a video on what you have card wise company wise

@SashaYanshin 3 года назад

Won't be very insightful - I have way too many cards and accounts because I am always trying them and testing them out. Like when I did the challenger bank reviews, I went and opened and used an account with each single one - I do the same with credit cards so I am always in the know of what's happening in the market :)

@SubearHersi 3 года назад

Just got a capital one credit card. I really want to get a phone and laptop contract but I have a 'thin' credit file. How should I go about doing this?

@SashaYanshin 3 года назад

I wouldn't get a laptop on some kind of contract/financing deal - the typical cost of these is eye-watering. If at all possible, I'd wait until I can either afford it OR until I can borrow money significantly more cheaply to buy it. With a phone contract, some of the lending criteria are not as hard as for other forms of credit - if you can do check via soft check, might be worth just looking but the likelihood is that in 2-3 months you'll qualify for something if you don't already. However with some very decently priced pay monthly sim only deals, you may do better buying a handset outright and financing it via something else (like a 0% card) instead - I'd just get something that doesn't cost a lot for the first one. There really is zero practical difference between the latest flagship and the 3-year old model in terms of what you can do with it.

@SubearHersi 3 года назад

@@SashaYanshin thank you so much! Have you got tiktok? If so what's your @

@SashaYanshin 3 года назад

@@SubearHersi I uploaded 4 really bad videos and then realised there is no way I have time for that as well as everything else I'm doing at the moment!

@SubearHersi 3 года назад

@@SashaYanshin haha, yea it can be a pain to get likes and requires a bit of consistency. But engagement on tiktok is much more than youtube. Most people that get viral on tiktok try to convert their following to RU-vid.

@SubearHersi 3 года назад

@@SashaYanshin good luck with it though!

@milotobin-storer3943 3 года назад

Does a basic credit card boost credit as fast as a credit booster?

@SashaYanshin 3 года назад

Absolutely no difference. Only real difference may be how many credit reference agencies they report to but that doesn’t really have anything to do with being a credit builder card.

@damphat66 3 года назад

I got my amex plat cash back as my first card at 19 so am I winning

@SashaYanshin 3 года назад

My first one was an Amex too. I am hoping they have improved their risk models since 😂

@georgecollins9046 3 года назад

My dads got a HSBC premier JADE card what does that mean

@SashaYanshin 3 года назад

Means he got a pretty premium card although it really does depend on whether he thinks those perks are worth it...

@silver_vanguard6025 2 года назад

Was offered 50% Apr from aqua,wasn’t interested so I kept looking,6 months later had another look at aqua and was offered 37.5%.

@SashaYanshin 2 года назад

If you're not planning to borrow on the card and only use it for credit building, the APR is not really important at all. Just make sure that you don't borrow on it...

@Kaiyats 3 года назад

I saw an old lady use a coutts card when I was working at a store, it was pretty cool I only saw it for a few seconds but I knew she was a millionaire when I saw it, I just played it cool

@SashaYanshin 3 года назад

It's definitely one to subtly show you have some cash in the bank!

@Kaiyats 2 года назад

@@SashaYanshin It’s actually kinda stupid to have that much in cash since cash will always lose value

@ryann567 3 года назад

What would be the most ideal credit card with no credit history?

@SashaYanshin 3 года назад

I should probably do an update, but my very first ever video is on this subject and actually not a huge amount has changed. Excuse the quality!!!! 😂 ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-KOCgPDFMQ6s.html

@ryann567 3 года назад

@@SashaYanshin Thanks for that. All Companies say am not eligible for a credit card. Any tips to better my application?

@SashaYanshin 3 года назад

@@ryann567 There's quite a lot of info out there - make sure you are on the electoral roll. Have you got a bank account? That's a decent place to start and often can be the first place you'll be able to get some form of credit - whether it's an overdraft or a basic credit card. You can also check your credit bureau data for free with all 3 major providers and see if there is anything wrong in there.

@ryann567 3 года назад

@@SashaYanshin Yes i have a bank account and i have recently submitted an application for the electoral roll. With my bank they said I wasn't eligible to apply for a credit card at this time.

@airportdocumentaries 3 года назад

What about hsbc jade credit card

@SashaYanshin 3 года назад

In the UK Jade is the current account. I know in some other countries the brand is used for credit (e.g. Middle East) but it's a whole different sort of thing really.

@lucasevans4690 4 месяца назад

Aqua was my first credit card

@jj-bu6yb 3 года назад

you are definitely the best sasha! hope you are doing well! i would love to meet once for a coffe so that i can take picture with you

@izzy__uk3856 2 года назад

Hello from September 2021 👋🏻

@SashaYanshin 2 года назад

Hello!

@ariporges7621 2 года назад

The weight of the cards tell hotel and restaurant staff how to treat you

@BenLlywelyn 2 года назад

Diolch / Thank you

@SashaYanshin 2 года назад

Pleasure!

@kaashee 3 года назад

I had a tier two card first, then got a platinum charge card. Then got some tier one cards 😂 my credit score is only “fair”

@SashaYanshin 3 года назад

That's why those "credit scores" that you get on those websites don't really mean much other than a vague indication.

@arthurdanielles4784 2 года назад

The number of cards does affect your credit score HOWEVER it how you use the credit you have on offer. Good credit 'utilisation' a plus point. paying your balance off each month ? another plus point.. BUT making sure that the MINIMUM is paid and on time is an absolute. Late NOT GOOD.. 😶Also whatever credit accounts you have independent of the cards and how you make sure the due amounts on those are paid is another serious factor in determining your credit score. 👍 Lastly, there are many other factors that can affect your scores. NOT just how you use your current credit cards.

@PSG81 2 года назад

Your probably earning more than the average Joe, but carry on having fun with your Tier 1 Cards 😉

@cristech4489 3 года назад

It’s so annoying that in uk we don’t have proper rewards credit cards. (Like in the US)

@SashaYanshin 3 года назад

Blame the EU-wide laws restricting interchange to 0.3% gross. Unless your customers pay interest, you hardly earn anything just from transactions.

@Kaiyats 3 года назад

@@SashaYanshin will that change when we leave the EU finally as we won’t be under their rules

@emilebichelberger7590 2 года назад

Would you mind pinning a comment for comparison sites? Not the links just names. I’m searching all your videos trying to find them again

@SashaYanshin 2 года назад

I am guessing you are after MoneySuperMarket and TotallyMoney?

@Light-vl3vd 3 года назад

Say no more, win the lottery to qualify for a black credit card 😂😂

@SashaYanshin 3 года назад

That Euromillions jackpot has gone!

@Light-vl3vd 3 года назад

@@SashaYanshin always next time 😁

@kaashee 3 года назад

Coutts are SHAMELESS.

@SashaYanshin 3 года назад

What happened?

@kaashee 3 года назад

@@SashaYanshin check their reviews. They have the worst customer service. Some of the reviews are astounding

@SashaYanshin 3 года назад

@@kaashee I imagine with that sort of company you're also going to have a huge skew of either having a negative review or NO review as the typical Coutts customer is probably not filling in Trustpilot in their spare time. But then again I don't have and never have had a Coutts account so I have no idea.

@CalvinHikes 3 года назад

Probably gunna end up living my whole life without a single credit card. Own houses and cars. No credit. But otherwise enjoyed the video thank you.

@SashaYanshin 3 года назад

Good for you although there are several huge advantages to using credit cards. I get that some people are really opposed to the concept but used right you can literally get free money, free perks and free insurance on purchases. Just depends on the mindset.

@KennysBedpost Год назад

Doesn't seem worth the effort to me, at all

@jimbo0o 2 года назад

Please use a proper and professional microphone

@SashaYanshin 2 года назад

really?

@jimbo0o 2 года назад

@@SashaYanshin noise in background

@danielhilton9697 Год назад

They all sound pretty useless to me. Not worth the time spent applying.. i'd say a credit builder card is about all anybody needs.

@sillymadeupusername 3 года назад

Sorry but In truth I don't like the way that Credit cards and the concept of the all controlling 'credit score' is creeping into the UK. I watch Credit Shifu, and Ask Sebby and a few other Credit Card and points people from across the pond and it seems like you can't do anything with that score being a certain level. If President Biden follows through with plans to reform the Credit Bureaus then I think that would be a good thing.

@SashaYanshin 3 года назад

The good news is that the UK works completely different in how credit scoring works and that is actually a pretty good thing for consumers as there isn't only 1 lens through which every single lender looks at you.

@Chris-Corcoran 3 года назад

same intro on every video , you need to change it whats uo you guys sasha hear? love your videos but the intro is getting boring sorry to say.

@SashaYanshin 3 года назад

Just saying hello and introducing myself - got to have some kind of familiarity at the beginning - apparently the majority like it 👍

@Chris-Corcoran 3 года назад

@@SashaYanshin yea I get that and it's not a dig trust me love your videos just saying mix it up a bit lol 👍

@SashaYanshin 3 года назад

@@Chris-Corcoran We'll see what we can do - I think I'll stick to the same familiar thing mostly though but maybe I'll jazz it up every now and then. Incidentally, the big On The Money video that's coming up (editing is taking much longer than I thought) doesn't start that way :)

@Chris-Corcoran 3 года назад

@@SashaYanshin no worries i wish you well it was not a dig trust me love your videos gibe me a hi in the next one i will be watching lol

@marksantucci4230 2 года назад

we all heard of credit shifu ! so tier 1 are cards with no annual fees and no points/cashback /miles like chase slate , city simplicty, capital one platinum , store cards like Macy's , kohls, Best buy , gas cards like Exxon/ Citgo, Sunoco tier 2 are cards with no annual fee but earns rewards like Citi double cash , citi thank you preferred n Chase Freedon , Capital one quick silver Bank of America cash rewards, Chase sapphire Basic , Venture one, Bank of america travel tier 3 have 95 up 250.. annual fees