Top 3 Best Credit Card Types – Good Credit or Bad Credit

Top 3 Best Credit Card Types – Good Credit or Bad Credit


– Today I will be talking
about the three best types of credit cards to have,
if you have good credit. And if you haver bad credit, don’t worry because I’m going to show you
the steps you can take today, to get these same cards. Stick around. (celestial music) Okay, today I’m going to approach
this video, as if I could have only three credit
cards, what would they be? And, this video really
works well with people that only want to have a
few credit cards anyways. The cards I talk about today,
will earn you a high rate of rewards without an annual fee. So, if you’re looking to
only have a few credit cards, then these are credit cards
you should seriously consider. But before we get started, I want to say a big congratulations
to the Ask Sebby channel because, the Ask Sebby channel has just reached 100,000 subscribers. If you’re a fan of this
channel, you should visit them, and tell them congratulations
in the comment section below. But, you’re not gonna wanna
leave now, to congratulate Ask Sebby, and their team,
you don’t want to do that, you wanna this video. Right? Okay.. So, this is a really
interesting video for me, because it’s really geared for
people that maybe just don’t want to have too many credit cards. And if you were only
limit yourself to three, what type of credit cards
should you have, what type of credit cards will
be beneficial for you. And, this video will compare
the different category types, because I didn’t pick
three individual cards, because there, this works
better in category types. Because, there are several cards that serve basically the same function. So, that’s why I said the
three best credit card types. And, if you think this video
is helpful, please share it with a friend, and if you
like this video, please smash that like button, and
please subscribe if you want to see more of my videos, and
hit that bell notification. So, the first credit card
I’m going to be talking about is your traditional cash back card. And, this card you want to
start out with, because this is going to be your go-to card, when you cannot use a
different rewards card, within a certain category
to get a higher reward rate. So, this is the type of credit
card you’re going to use, for the really, off the wall
purchases that don’t fit into any kind of category. Now, I have different
recommendations for this, and they would be; number one
would be the Citi Double Cash. And the reason I picked
the Citi Double Cash, is that you get a two percent
cash back reward rate, but you have to keep in
mind, that it is one percent when you buy something and one percent when you pay that purchase off. But this is a two percent cash back card on all your purchases. Another type of credit card you could get is a one point five percent
cash back credit card. And there’s three that I
could think of off hand, that are pretty good,
that have no annual fees, and that is the Capital
One Quicksilver card, the Chase Freedom Unlimited card, and then there is the
Wells-fargo Cash Wise card. Those cards you will earn 1.5% cash back, and I have done a video comparing the
Capital One Quicksilver card, versus the Chase Freedom Unlimited, they’re nearly the same card, but there are several differences and
one might be better for you. If you want to see that
video, I’m linking it up here. But also, just so you know.. I did review videos on many of these cards, that
I’m talking about today. I did review videos on them,
because I absolutely love these credit cards. Because they provide so much value. And, all the links for
those videos are gonna be in the description below. And if you want to know
even more about any of the credit cards I talk about today, visit creditfast.com because
there are pros and cons review articles for each
of these credit cards. You’ll know the benefits and
drawbacks before applying, and if you apply through using
the links on creditfast.com, this is a free way to
help support this channel, and thank you. I have personally, I have the
Capital One Quicksilver card, and the Citi Double Cash card. I’ve done review videos on both of them, and then if you remember
from the intro of this video, I said that if you have bad
credit, I could also help you get these same type of cards. And, I’m going to tell
you about that right now. So, with one way to do it,
is to get a Capital One card, and depending on your credit,
you’re either going to be getting the Capital One secured card. Capital One secured card, is
for less than perfect credit. What you do, is you apply for
the card, and it will require a security deposit, and that
ranges from fifty dollars to two hundred dollars,
depending on your credit. If you have fair credit, you can apply and get the Capital One Platinum card, or the Capital One Quicksilver card. Now, the Capital One Platinum
card, has no annual fee but the Capital One Quicksilver
card for fair credit, has an annual fee. So, you can do this either
one of two ways; you could either start out with the
Capital One Platinum card, and then have it for a few
months, and have it product changed to a Quicksilver card. And I detailed that in my
Capital One Platinum card video. Check that out, if you haven’t seen it. And if you don’t want to do
that, you’re just willing to pay the annual fee,
its thirty nine dollars, you can get the Capital One
Quicksilver card and you’ll have your 1.5% cash back credit card. But, my tip here is that after one year, you should call Capital
One and ask them to remove the annual fee. Now, the second category
we’re gonna be talking about is the card that gives you a high rate of cash back in certain categories. And there’s two cards for that,
that are the most popular, and that is the Discover It card, and then the Chase Freedom card. Now, I did a video on that,
talking about the Chase Freedom card, and then I did a separate video on the Discover It card. Since I have the Discover It card, it came became a Discover It card unboxing, and credit card review. So, if you need to see those
videos, check them out, the links will be in
the description below. The reason why you want this
type of credit card, is because they will give you a very
good rate of return cash back, return, in certain categories,
during certain quarters. And with the Chase Freedom card and the Discover It card. They are nearly… Well, I wouldn’t say
nearly but often times, they share the same categories,
especially third quarter which is a summer quarter,
and usually for the past few years, they’ve both had the
third quarter as restaurant. Now, the question is
if you have bad credit, how do you get one of these cards? Is to get the Discover It
secured card, and you will get 1-2% cash back on all your purchases. You’ll get 2% on restaurants
and gas station purchases, and then 1% on everything else. The interesting thing with
this Discover It secured card, is that they will give you
a bonus on all the rewards you earned on your first year. So if you earned fifty dollars
in rewards your first year, they will double it,
and they will give you another fifty dollars after
twelve months have passed. So this makes it a really
good credit card to have. To sum it all up, if you
have bad credit, either get a Capital One card or the
Discover It secured card, and you will be earning cash
back before you know it. Okay, so the final
category is category three. And that would a specialty rewards card. And, with those types of credit cards, generally you’ll probably
need good to excellent credit, I wouldn’t say excellent but good to very good credit, in order to get approved
for many of these offers, because they have good reward categories, with a high rate of rewards and they want people with
above average credit. A good example of one of these cards is the Wells Fargo Propel card,
I did a review video on it and that’s the credit
card that I don’t have, and I do want this one very much. I have for the time being, put a hold on applying for credit, I credit gardening right now. I’m just managing the credit cards I have, making on time
credit card payments. And I plan to get the
Wells Fargo Propel card, if you watched my video, you’ll know why, there are so many categories,
reward categories, with this credit card.
It does so many things. I really see that if you have
a fixed rate credit card, cash back credit card in the
first category I talk about, and then get one of those credit cards in the second category, where you earn 5% in special categories. The next step is to get
a all around credit card, that has a high rate of rewards. And, the Wells Fargo
Propel card does this well. But also, I do talk about
the Uber credit card, and if you watch the video,
you’ll know that the Uber card is highly recommended for
dining, and I love dining. So, you actually get
4% cash back on dining, and that is better than the Savor card, where you can get 4% cash back on dining but that card has an annual fee, and the Uber Visa card does not. So, if you want to know more about that, if you’re interested in
dining, you should definitely check out that video, and maybe the Uber Visa is right for you,
if you are a big time diner, you can save a lot of money,
I mean think about it, the Discover It card, or
the Chase Freedom card, only for three months out of the year, you’re gonna get 5% cash
back, with the Uber Visa card, you can get 4% cash back
on those nine other months and you don’t pay an annual fee. So, that’s an excellent
credit card for dining. And, if you want to learn more
about dining credit cards, I did a playlist about how to maximize the most rewards you can get dining. And not just using a credit
card like the Savor card. I go into detail on how there
are credit card programs you can use to earn even more
rewards, simply by dining. So check that out. So, I talked about today, about
three types of credit cards to have, the only types of
credit cards you need to do most everything when it comes
to your everyday purchases. And, I did this video for people that are not heavy into
having a lot of credit cards. I showed you today that you
can have a few credit cards that do so much, and if
you found this helpful, please hit the like button and subscribe if you’d like
to see more videos like this. I thank you so much, and until next time.

6 thoughts on “Top 3 Best Credit Card Types – Good Credit or Bad Credit

  1. As always great videos I like comparison videos or reviews and the takes that people have with using the cards? Kind of helps me make a decision that is more informed. One day I can get those types of cards. There are a couple new people in town for fair credit cards. They are the Avant credit card and the Arrow credit cards what do you think of them? Maybe a couple of review videos on them.

  2. Thanks for the video.  Interesting choices.  The stipulation of no annual fees makes these choices a bit more difficult.  Also the issue of possibly needing a “thin file” option as the first card throws things in a bit of a spin as well.  I mean, does the individual go for immediate rewards (i.e.Discover Secured), or look further down the road and go with a secured card that they can upgrade to one of the cards they want to keep long term (and keep their credit line history intact)?  I’d probably go for option two.
    Personally, I’d just go for the most value, regardless of annual fee.  So, if I was giving myself a three card build, I’d probably go with: 
    1. US Bank Cash + Visa.  This card has tremendous cash back potential (plus an easy $150 signup bonus).  It would cover some of my big spend categories right away (2% groceries, 5% fast food, 5% Utilities), but also be able to change, to cover other categories, as I add my other two cards.  Visa is widely accepted, and this card also carries a fair suite of benefits as well (e.g. extended warranty protection).  If I was “thin file”, I’d start with the US Bank Secured card…then upgrade to this when I could.
    2. American Express Blue Cash Preferred.  This card does carry an annual fee of $95 per year, but it has a very high cash back earning potential, that will easily out earn the annual fee each year when compared to any other single grocery store option (not to mention a $200-$250 signup bonus).  Adding this card would bring my grocery percentage up to 6% (from 2% on the Cash+ card), and fuel up to 3% (from 1% on the Cash+ card). 
    Though my household spend isn’t $6,000 per year on groceries (the 6% bonus category’s annual limit), that means I could purchase gift cards at the grocery store with the remainder (at the same 6% rate) for things like movies, restaurants, or even fuel, just to get an extra 3% kick to the normal rate.  This card also opens up “American Express Offers” to me (which can save me some money), and has a better suite of card benefits than the Cash + card does.  If things ever get bad for me financially, it can also be downgraded after the first year to the fee free Blue Cash Everyday card (3% groceries / 2% fuel).Adding card number two would then allow me to change the 2% category on the Cash + to Dining.
    3. Barclays Uber Visa. No annual fee and a $100 signup bonus.  Gives 4% cash back on dining (sit down and fast food), 3% on “travel” (hotels/airfare), 2% on online shopping including video/music streaming services, and also gives cell phone protection if I pay my monthly bill with this card.  Pretty solid for a no fee card.
    Adding card number three would then move my Cash + card’s 2% to…whatever (as the three available categories are all covered better by the other two cards), but much more importantly would free up the 5% categories I was using on Fast Food and let me move it quarterly to whatever gives me the most value (keeping the second 5% category on Utilities each month).  I’d probably have it set to Internet/Streaming Providers most of the time…but could switch it quarterly if I had a big purchase coming up in another available category. 
    The final look would be:  $95/year in annual fees, $450-$500 in signup bonuses, 6% cash back on groceries, 3% on fuel, 4% on dining out, 3% on airfare and hotels, 2% online purchases, 5% on home utilities, and 5% on internet/streaming services (or clothing stores, or electronic stores, etc.), and cell phone insurance. If I could only have three…that’s probably it.  I’d sure miss my Chase Amazon Prime Visa though.  Fun topic!

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