The Only 5 Credit Cards You NEED in 2023
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- เผยแพร่เมื่อ 31 พ.ค. 2024
- 💳 Cards Referenced Today: cardonomics.com/i/humphrey
This is my list of TOP 5 Credit Cards for 2023! Enjoy.
💳 Capital One VentureX: cardonomics.com/i/humphrey/ca...
💳 Citi DoubleCash: cardonomics.com/i/humphrey/ci...
💳 Chase Sapphire Preferred: cardonomics.com/i/humphrey/ch...
💳 Chase Freedom Flex: cardonomics.com/i/humphrey/ch...
💳 American Express Gold: cardonomics.com/i/humphrey/am...
💳 American Express Platinum (not in today's video): cardonomics.com/i/humphrey/th...
PS: Realized a mistake in the video, CitiDoubleCash does have a 3% foreign fx fee.
Transfer Partners:
www.valuepenguin.com/travel/c...
www.americanexpress.com/us/re...
Tips on how to use a card: www.sofi.com/learn/content/ho...
Chase 5/24 Rule: thepointsguy.com/guide/ultima...
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0:00 - Start Here
0:43 - 5. Venture X
3:47 - 4. Citi DoubleCash
5:16 - 3. Chase Sapphire Preferred
6:35 - Let's Talk Strategy
7:50 - 2. Freedom Flex
9:23 - Beginner Pick
10:32 - 1. American Express Gold
📧 GET IN TOUCH: I'd love to hear from you! If you have a longer question, or if you have a business related inquiry, please then send me an email at humphreytalks@gmail.com. I try my best to reply to all e-mail but sometimes I do not have enough time to respond to everyone.
PS: I am not a Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel
Here are all the cards referenced today, minus the bonus pick: cardonomics.com/i/humphrey. This is an affiliate link so I will get some commission if you use it, I appreciate if you do. Again, use cards responsibly.
The Amex Gold is such a great card. Food/Restaurants is many people's top categories and the rewards for it (4 points) are a good value. I've had the card since 2019 and just from our typical spending, my wife and I transferred the points to Delta Skymiles and booked round trip tickets to Italy in July.
Great video! The Venture X, CSP and CFF are all on my short list for the next year or so.
Fantastic!
These are great for cash back. Those who travel a lot can find one with traveller miles. I like the one with cash back. But you still have to stay discipline and pay it off every month. A lot people max them out because they are compulsive buyers. I love this video. Thanks, Humphrey.
Thanks for your wonderful comment :)
Great info! Some cards have a cap on the dollar amount spent so if you go over the cap- no more points or % back.
Great thing about the Apple Card is the security
you can request to change the card number
and the security code changes periodically
Just FYI, the CITI Double Cash card does have a foreign transaction fee of 3%. Still a solid card regardless
Paying off our credit card balances in full at the end of the month is a great start, but a lot of the "perks" of these cards can still enable some poor spending behavior.. even if we are paying off the balance. Like if our card has some great travel perks, we may be more tempted to take a vacation that might not be the best thing to do at that time in our life. And then we're more likely to carry a balance over into the next month because one poor decision often leads to another.
Shhhh you’re making too much sense, just let me book my next vacay
Depending on who u r, not everybody. I have a business and making business expenses on my credit card gives me free money I was going to spend anyway, money that makes me money.
Amen
I have a strong preference for simple cash back, no annual fee, cards. I don't have to worry about making sure I'm using the right card for the right category, or all the possible features to make up the annual fee, and I just get back about half of the credit card fee the merchant is paying.
Which card?
Same. I've been using only one card for the past 10 years and I can't find anything that beats it, the Citi Double Cash card. 2% cash back, no annual fee.
These are very well thought out, but could you make a whole list for beginner credit cards?
Aaaaah you’re almost at 1 million subs congrats! Been here since 10k n.n so glad to see you grow!
Thank you so much!! that means you were here in early 2020
I liked your beginner pic with the card. I have a sister who doesn’t understand how credit cards work very well and I am recommending that card to her so that she can learn.
A lot of finance creators don’t mention this card due to the lack of rewards/incentives. But, as mentioned in this video, I believe it’s a great card for beginners. Apple’s UI is definitely one of my favorites and easy to understand
The Amex Gold card was used to provide better perks. It is a pity they removed yearly $100 flight credits and removed 1 to 1 conversion from points to cash equivalent. It is still a good card to own.
Feels like they are moving the gold into a daily cars and make the green/ plat travel oriented
Thank you for introducing the ground rules! People do not understand the purpose of a credit card are for the perks, not for the payment terms‼️
Exactly!
Great content!
hey humprey, long time viewer here
great video as always! but i mostly skipped over these credit cards because you made me super adament about looking for credit cards without any annual fees in your previous credit card videos haha!
looking forward to your next video~
No worries! these were definitely more premium ones! I should make another video aimed just at no annual fees and beginners.
Still love my amex gold..just got the blue cash prefered for the supermarket credit amd for gas
I like the capital one savorone card for dining. I also like the capital one quicksilver card for general cash back. I guess I'm a capital one fan. Yes I pay my credit cards in full.
What do you think about having CSP, CFF, & C1VX? Essentially, the C1VX would replace the CFU as the catch-all card.
Very good list here. I do have the Chase Freedom flex for the rotating 5% categories. My primary Card though is the Costco Citi Card with 4%, gas 3% travel, 2% warehouse with the executive membership. I use the Prime Visa for all amazon purchase and to avoid foreign fees with no additional annual fee outside the Prime membership. After debating on the Platinum Amex for Schwab I could not get the rewards/ benefits to justify the $695 annual fee, so I opted for the Schwab investor Amex with no fee and 1.5% back for in between purchases. I have a blast maximizing my cash back every year, though my wife is less enthusiastic. I use my 4 cards for everything and pay in full monthly.
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Is the Costco credit card a cash back card or do you get citizen reward points for it? Thinking about getting it
@runforrestrun2428 rewards in the form of a yearly costco check. 4% gas, 3% dining, 2% warehouse or costco online. You also get 2% for executive membership back at the warehouse with the yearly costco. I shop Costco regularly so it pays off.
I would like to have the Gold, but already have the blue cash preferred. I checked with Amex and they said i would have to apply separately for the gold since it is a different product type that they offer vs upgrading cards. The blue cash preferred isn't bad, the annual fee is $95 which after using it for 6% back on groceries throughout the year it pays for itself and then some. I believe I could even get 6% back on streaming which I had Hulu for awhile but I recently ended it because it just was not getting used much. Also, the gold would be all the more appealing if one of the food credit offers was for somewhere else in my area, as there is no shake shack where I live. There is cheese cake factory but I like to have variety. We'll see what happens later down the line maybe one day I'll go for it if it's worth it
Hey Humphrey, I was wondering if you (or anyone) had any advice/ recommended cards for a 23yo whos credit history is basically student loans and car payments. Thanks I appreciate your insight and Ill definitely look at the citi chase and apple cards
Just applied to Amex Gold after watching this video!
This video and others always cite a suggested credit score to have before applying but I learned that there are a handful of different scoring models that can be used. FICO model 3 or 8? Vantage score model...? So I may have FICO score 824 for model 8 but what if my other scores dip down into the 720s.
So the gold only works in certain restaurants not anywhere I choose to eat? Just confused and I’m trying to apply for a credit card with good benefits, I also travel a lot but I’m not sure on the platinum yet still trying to learn as much
You compare the value of the AmEx gold towards a card with no point redemption but shouldn’t it really be compared go something like the savor one which has 3 percent cash back on dining and grocery and no annual fee?
I really like the Venture X such a great all-around travel card!
agreed
Hey just wanted to say using your videos I went from Secured Card to Chase Freedom Flex to just being approved for Chase SP, what's a good card for traveling internationally and avoiding foreign transaction fees? looking to go to Japan in september
Amex platinum
chase sapphire preferred also has no foreign transaction fee and great travel protections
What are your thoughts on the sofi credit card comapared to the citi double cash?
Should I get the Citi double Cash or the Chase freedom flex? I have 2 credit cards atm and am looking for a third. With no annual fee. All I really care about is Cashback for now. My fico credit score is 740.
Any guidance on best home equity loans?
Thanks
I just payed off my discover it card that I defaulted on. How long do I have to wait until I can apply for a different secured card? 3 months or 6 months?
The Capital One SavorOne is also a great beginner card
10% back on Uber and Uber eats is great. Plus free Uber one. $200 bonus after $500 spend. All for the quite reasonable annual fee of $0!
@@emjaypineau6271Yup, it has great benefits for a zero annual fee card.
@@emjaypineau6271 It stacks well with the Uber credits from the Amex Gold and Platinum.
You could add the Savor One to this list too
My top cards least to best. Amazon prime. Amex blue card cash. Amex green card(cancelled gold not worth it) Amex platinum.
If you do a lot of groceries, I'd choose the Amex Blue Cash Preferred over the Amex Gold. 6% back at US supermarkets, 6% on streaming subscriptions, 3% on transit purchases, 3% on gas, 1% everything else. $250 intro offer after spending $3,000 in first 6 months and only has a $95 annual fee (but the first year is free). I have this and am easily getting $400-500+ back per year
The non preferred Blue cash card seems better considering both have a $6k/year cap. You make $60 more on grocery cash back with preferred. But the regular cash back card has 3% on online spending which makes it much better.
Wasn't even considering this card until this comment, you might be right on it being better than the amex gold. I don't really use uber eats or some of the other credits it offers, still don't know which one to open tho lmao
Good video. So Amex would probably be the best for me; aka #1. Never done credit cards but we do travel outside the U.S once a year and one domestic vacation within the same year as well. I pay debit for all (hate me all you want, prob deserve it.) looking to get some feedback.
Spend around 1200 in groceries a month.
Thanks all.
Any particular reason you didn’t include Capital One Savor One card?
Not a big fan of the choices the Capital One was the coolest by far but the annual fee coupled with the interest rate just kind of makes it a ridiculous choice as well as all of them, Maybe credit cards that are good for building credit with low interests or credit cards that are good for transferring credit card debt but all of these cards promote spending and justification anyway great video
premium rewrds cards are definitely not for carrying a balance. if you have to think about the interest rate - theyre not the right card for you. they are only if you could spend the same in cash/debit- just a way to turn your usual spending anyway into extra rewards and perks. If you couldn’t spend it in cash, don’t spend it on these cards.
Those are all great cards!
I think so too!
I have been seeing claims that users of Amex Gold are seeing a 1% charge by restaurants to offset the charge from Amex. Any encounters with this?
What do you think about the Bilt card? I pay about $2000 per month on rent so I was debating getting it.
I want to know more about this too!
The BIN attack fraud happened way too often with the Bilt mastercard for me. It is only good for rent but I have to disable the card every time afterwards because the risk of it getting shoved with unauthorized charges is way too high.
FD one card credit card ko close karane per CIBIL score kam hoga ? Reply me
Capital One Venture X is tempting! However not fit for frugal and minimalistic me. 😢
Btw, We get travel credit cards in India which comes with free priority pass for free international lounge access (not unlimited though) for less than $30 Annual Fee!
No worries! Good to be sensible.
Those priority pass will require co-pay of $32 for entrance. its not the full priority pass access
AMEX gold's annual fee is waived if your active duty military. Which is super legit.
Not just gold, all cards. My platinum for example I also have for free every year
@@RGR2155 chase sapphire is also free if your AD military. I have the Amex platinum, gold, delta skymiles and the chase sapphire. Great spread and it costs me nothing
Best beginner card is definitely blue cash everyday
There is 3% foreign transaction fee on the Citi Double Cash card.
thank you!
Curious to know what you think about the Costco Citi Bank card? It feels like a no brainer for people with families.
Wow amazing :D
@@humphrey can you answer her question?
AMEX waives the annual fee for active duty military.
When it comes to rewards, what does Walmart fall under? I know it doesn’t count as a grocery store, but not sure what card companies consider it
Same thing with Costco. Kind of frustrating. If I have to go to target or nob hill for groceries you are really overpaying
@@dantesantoyo3460 they don’t count
Just so you know the city double cash comes with foreign transaction fee 3% please update video
For the capital one venture x card, do the other 4 users also get the first four perks or is it only for the first owner?
the first 4 perks is only for the owner (the bonus miles, 75k signup, etc). The perks for the authorized users is the lounge access and priority pass - thats the overpowered-ness of the card imo
Gotchu thanks 🙏
Hi Humphry, Was the FTX embed emails legit? I saw you mention them previously.
I dont think they are legit. I still am out 24k from ftx.
Wells: 2% on all purchases; no gimmicks.
I would love to be able to get the Citi Custom cash card. However I was denied because I have too many cards with low to no balances on them. How do I manage to get this decision reversed?
@humphrey, can we get an update on this one for 2024?
Wondering if the venture x card miles are revolving or if they reset every year
the miles dont expire, if thats what youre asking
X1 10:11 also great beginner card
What if you have had the credit card(s) for some years and no longer have the benefits from signing on? How long should you keep the credit card(s)?
if its not costing you anything, keep the card - because it is good for your credit length.
To my knowledge, the double cash has a 3% Foreign transaction fee doesn’t it?
Yes it does
“Yes, the Citi Double Cash® Card does carry a foreign transaction fee, which is 3% of the U.S. dollar amount of each purchase made in a foreign currency.”
Do I need to wait 7 years before I can get this card? I have a few missed credit card payments and I’m currently fixing my credit. It seems like my score won’t go up until those are dropped after 7 years.
Which card are you referring to, and what is your score now? Often times if you are in that credit deliquency, you are kind of in time out until your score starts to go back up again
Question. I used to have a similar card to the Capital One but their travel portal had markups on travel compared to the travel company (ie. Southwest Airlines, hertz , etc) direct…negating the benefits of the travel credit. Have you noticed any thing similar ?
They will price match the lowest one you find. Just need to give them a call.
@@juanlugo7238 Thanks for the info. It was not that way back then, so I am glad to hear it is now.
I have a 682 credit score but I just got a credit card 2 months ago and I have student loans that I got about a year ago. What are my chances for the sapphire preferred?
You need at least 700
I surprised you didn't mention that the Chase Flex card was 0% APR for the first 15 months.
You need a certain credit score to get some of these cards (680/710 low end), I have the Amex and citi. Do you have a video that’s accepted lower credit scores
I have some beginner card videos but I can think of some video ideas with lower credit score cards if needed
@@humphrey either will be helpful for me and my siblings. I appreciate the response !
What are your thoughts about getting the venture X card, even though you have the Amex gold and the chase trifecta? Too much? Thank you for all your content.
Chase trifecta is 1.5x for non category spend. You need either the Citi Double cash or Venture / X for 2x on unbonused.
How long of a credit history is recommended for the Chase Sapphire Preferred Card?
More than 1 year will greatly improve your chances
I currently have all the cards except American Express Gold. I am not a fan of American Express. I am currently targeted for the Gold for 75k points and don’t know if I should go for it or not. I just fulfilled my Venture X 4k spending limit for my trip but got another trip plan for this summer and was planning to get another card soon for the bonus! Credit score > 800!
I think if you already have a premium card you dont need another
Can i have access to lounges if I have venture x card, home base is LAX?
@@diahinhleodoc123 yes, you get priority, premium and capital one lounges!
@@jelloMadison from lax airport? Are you sure? I want to get this card but somehow still uncertain about LAX’s airport access
@@diahinhleodoc123 yes, you can check if LAX has any Priority or Premium Lounge Access.
Amex to me is over hyped. Chase I think is like the good go to card. And their rewards and valuable
what's the credit score needed for apple card
American Express is 90,000 bonus point now after you spend 4k
I got my CSP at a 620 credit score
So with cash back on the freedom flex, does Chase mail you a check for $200??
it just goes in your statement most likely/ online portal
No they credit you with 20k points which you can cash out for $200 cash if you want
@@humphrey thanks
@@FK-we1dp thanks
When it says 5x points does that mean 5 points for every dollar?
so that means I will be able to affrord my own pj after 258 years precisely!
Citi Double Cash does have FX fee, what?
Gold card is worthless compared to the Savor card with 3% cash back without the yearly fee unless you spend $30k+ in dining/groceries
No M1 Finance credit card?
I know many who live and die by the Costco card
Trying to find out if American Express Gold 4X when you purchase groceries in store or if just online only. Doesn't state on their website. Chase preferred is online only for 3X points. Would be totally worth it if could just go to the store and not have to do that.
Isn’t American Express gold a charge card not a credit card
Have you made a video on Forex? I heard it takes skill to do this and it can be risky. I watched a few videos about Forex but I want to do more research before I would do this.
I havent, I dont touch forex usually!
Amex Gold, Amex Plat and Capital One Venture X for me.
Be very careful about getting credit crads people. Everyone is stating a recession is coming end of 23". You dont wanna spend $ you dont have then end up laid off
i am in the first few to watch this
you def are
The Apple Card is not for beginners
Please check your facts 🙃
The Citi double cash card does have a foreign transaction fee (3%). This isn't a travel card.
After seeing that, I automatically pause the video, thumbs down, and to the next video since who knows what else is wrong with your facts.
First goat
damn you are fast
Can you still get a good credit score if you always load money on the card to spend and never use the credit on the card?
I'm out of the game.
I'm too fat to fly.
Summary of this video: how the broke and middle class stay broke and middle class. Spend money on annual fees just to encourage more consumption to feel like they're getting their money's worth.
So many financial TH-camrs today are just pushing credit cards.
Dude seriously, put that Citi Double Cash in a jug of water and put it in the freezer. Nothing attractive about that card.
some people just need the simplicity
People that don’t have money use credit cards… Don’t promote them 👎🏽
People with money, without money and everywhere in between use credit cards.
If you pay your bill in full every month, you get massive benefits to using credit cards over debit cards.
That is the purpose of the video. If you aren't in that category, don't promote it to yourself by watching the video. Many of us like maximizing these rewards.
I got 2k cash back this year alone. I will always promote that to option to people who are a good fit for it.
Humphrey, I thank You for all the valuable videos! I began investing at the age of 35, primarily utilizing my hard work, dedication and with the assistance of my financial advisor, Christy Val D'souza. Now at the age of 48, I am delighted to say that my retirement income has grown enough to take me through my later days in life. So don't hesitate to take action when you can. Remember, it's not about achieving wealth quickly, but rather about building wealth consistently and persistently.
That is exactly my point, you need the assistance of a professional in whatever investment you want to embark on. For me it is a lot safer that way.
Yes, just as I said, *CHRISTY VALLEN D'SOUZA* is the best stockbroker, investment portfolio manager and financial advisor I know. This is because I have tested her services firsthand. She has never failed me or anyone I recommended to her. She is very trustworthy.
look up her complete name on the web, confirm her details and get in touch with her.
Top credit card, no credit card
ehhh I agree somewhat. I had a friend with no credit card till they were 27, never could get approved for anything because they had no credit lol
I'm out of the game.