The 3 Credit Cards EVERYONE Needs (Do YOU Have Them?!)
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- เผยแพร่เมื่อ 8 ก.ค. 2024
- Do YOU have the 3 credit cards everyone should get? They’re practically essential for a strong credit card strategy, and they work well whether you’re into cash back or travel. Find out what they are (and get them)! Click “Show More” to see Ad Disclosure.
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CREDIT CARD #1: Core Card
This is the credit card that gives you a high return in specific categories where you spend a lot of your money. First, identify the top-spend categories from your monthly budget. Do you spend a lot at supermarkets? Restaurants? Travel? Then, determine the TYPE of rewards you want. These include cash back rewards and travel rewards (points and miles). Also think about the benefits that are important to you (like credits, elite status, VIP access, airport lounges, discounts, etc.)
There are 4 Main Types of Credit Card Rewards:
1. Airline Miles: BEST value when redeeming with 1 airline and/or its airline partners. Example: United MileagePlus
2. Hotel Points: BEST value when redeeming with 1 hotel chain. Example: Marriott Bonvoy
3. Flexible Bank Points: Typically EQUAL value when redeeming for any flight, hotel, rental car, cruise, etc. Example: Wells Fargo points
4. Transferrable Bank Points: BEST potential value when converting FROM bank points TO partner airline miles or partner hotel points. Example: Chase Ultimate Rewards.
CREDIT CARD #2: Supplementary Card
This can also be called your “Boost Card” or “Top-Up Card.” Its purpose is to fill a gap of at least 1 significant spend category that your Core Card doesn’t cover & do so with a strong rewards multiplier.
CREDIT CARD #3: Everything Else Card
This can also be called your “Catch-All Credit Card” or “Non-Category Card.” This is a credit card that earns 1.5% - 2.0% (or better) on all other purchases. The goal here is to earn more than 1% cash back or 1X points on your purchases that do not fall into set categories on your other cards.
Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.
#creditcard #creditcards #bestcreditcards - แนวปฏิบัติและการใช้ชีวิต
‼ *CORRECTION:* At 8:57 I meant to say, "With the *Custom Cash,* if you use it with the Premier."
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If you want a simple no annual fee basic cash back card setup:
Gas: AAA Travel Advantage 5%
Groceries: Citi Custom Cash 5%
Restaurants: US Bank Altitude Go 4%
You absolutely cannot go wrong with this setup.
And if you are married your significant other gets the aaa daily advantage for 5% groceries and another custom cash for 5% on whatever else you need 5% for 😂
Excellent picks right there!
@@Kashew15 so true! Very smart
@@357twilson yeah we also doubled up on the US Bank cash plus card so that when you utilities get high we are all covered and don't go over the $2,000 limit
You can add a US Bank Cash+ to the mix and set 1 of your 2 5% category choices to Fast Food since some of the restaurants code as a regular restaurant and some of them code as fast food
I use my Amex Gold, Amex Blue Business plus and my Hilton card. I’ve gone on many vacations with these cards! If I’m working on a sign up bonus I’ll keep using my Gold card for food and drink but put everything else on that card! Currently working on the Alaska Airlines sign up bonus!
Good 3 cards right there!
On point as usual!
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What an excellent video. Super well structured and informative. Can’t wait for the next one!
Thanks, more to come!
As always, great content
Appreciate it!
Great graphics and breakdown.
Thanks!
This is a great video! Thank you!
Thanks, glad you enjoyed it!
i'm thinking of the chase trifecta with csr, cff and cfu. I have the sapphire preferred but got the sign up bonus in feb 2022 so another 2 more years before i get another bonus. might as well upgrade
Sounds good!
Right now I have the Amex Gold and C1 Savor One in two months I’ll try to get the Venture X to complete my three card set up.
Do you have any two player videos?
Sounds good! I don't have any 2-Player videos.
Some solid options, Mark! Excellent video and breakdown! Como te fueron las vacaciones? Bien merecidas, ojalá y te la pasaste a todo dar!
I took the same approach when considering what business card I wanted as my core card.
Can we get this same video but in a Business version?
Love your content.
- Ivan.
Precisamente como lo dijiste - las disfuté a todo dar! 🌴🇧🇸 Bien hecho al aplicar la misma técnica al solicitar esa tarjeta de crédito de negocios. No tengo intención de rehacer este video para las de negocios ya que todo será exactamente igualito (salvo las opciones disponibles de tarjetas).
Another solid video. Really appreciate your channel. Keep up the good work!
Thanks! Glad you found value in it!
Such a great video! Finally someone can explain credit + credit cards in a way I can understand them 😂
Thank you! Glad to hear the info was presented in an easy-to-follow way 💯
Lots of good new options
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Hi Mark! Youve always been very informative and following some of your information has been very helpful!! My question is: just out of curiosity, are you okay with revealing how much your AF's total collectively across all accounts? Itll sort of give me a baseline, which i intend to stay well under, i might add lol!
Glad to hear the videos have been beneficial to you! I'm currently at $7,350 in AFs - zero surprise why you never me recommend what I do to other people 😂 For me, these are business expenses as I like to get cards for hands-on experience with their rewards, portals, benefits, etc. It plays a big role in making my videos as informative as they are & puts me in a position to answer just about any question.
Awesome video as always! What would you suggest is the best grocery and wholesale club card? I’m struggling to capture both in one card and this is my usual highest expense.
Provided the grocery stores & wholesale clubs you shop at accept mobile wallet payments, I really like the U.S. Bank Altitude Reserve (3X points on mobile wallet transactions is fantastic).
@@MarkReese thank you!
Has anyone ever told you that you look like the Adoring Fan from Oblivion? Love the videos.
Nope! Glad you like the videos 💯
1. Venture X
2. Gold Card
3. Amex Business Plus
Great choices!
I do have amex gold. Thinking about a card earn good at gas stations and Walmart. I thought about Amex blue business, the only problem in the agreement you shouldn't use it for personal reasons right? Should i combine another company i usually use avios or Etihad? Thank you for the help
1. Per the terms of business card agreements, personal expenses are not allowed.
2. Sounds like you value travel rewards, specifically, the ability to use the transfer partners of Etihad Guest + Avios. Given that...
Etihad Guest is a transfer partner of:
- Amex
- Capital One
- Citi
Avios can be obtained via:
- Amex (British, Iberia)
- Capital One (British)
- Citi (Qatar)
- Chase (British, Iberia)
- Bilt (British, Iberia)
I'd consider the Capital One Venture for Walmart and the Citi Premier for Gas.
This was great Mark! Really enjoyed the video and the detailed explanation! 👍 Keep up the great work 🫵
Glad you enjoyed it!
BOA Customized Cash just got an update too Mark
3% on EV & 3% on Cell Plans TV/Internet/Streaming
Indeed 👍 I made a pinned comment about it on my old video yesterday. Might be time to redo the video soon.
7:04 That transition was smooth AF!
😎👍
Hi Mark, my core card is Savor One, my supplement card is Amex Platinum, and my catch-all card is Venture card. What do you think? I kind of want to upgrade my venture to venture X, though.
If the setup gives you the rewards & benefits you value, then it sounds great!
Re: upgrading from Venture > Venture X: Just be aware that you will not receive any welcome offer for doing so (exception = special upgrade offer specifically targeted to you). If you want the offer, you'll have to apply for the Venture X via new application.
Thank you, Mark! I love your channel, it’s so educational!
Excellent video. I have the WF Active Cash + WF Autograph + 3 CC Cash for a boost on Food / Gas / Hotels / Groceries. I do have a United Club Card + Amex Schwab for when flights are needed + United Club / PP. Overall for the everyday life 99% cashback is great.
Great choices for cash back + extra travel benefits!
@@MarkReese Yea, I try and keep it as simple as possible. I didn't even add the Marriott Brilliant + Hilton Aspire to this equation. Still auditing my life everyday to see if I really need them.
SavorOne as the core card, Ritz Carlton card as a supplemental for elevated earnings and status at marriott and the vanilla Venture for catch-all.
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My core cards is BOA custom cash. Just got approve for the $95 premium one.
Custom cash I’ll use for grocery & online.
Premium I’ll use for Dining & traveling / other
$20 purchase on cash back would be $0.20 vs 0.30 back on premium
BOA Customized Cash = great card!
I'd go with a 3-card cash back setup using CFF, Citi Custom Cash, and Citi Double Cash 👍
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I use the SoFi credit card & the citi custom cash
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When are you putting out the trip to Atlantis?
Goal = next week, can't guarantee it though.
Yes😊😊
👍👍
If I closed my Chase Freedom Unlimited credit card before and then apply for it again now, will I receive the new cardholder offer again?
As long as you're below 5/24, don't currently have the CFU open, and have allowed at least 24 months to go by since you last received the new cardholder offer, then you should be eligible again.
They just offered 3% now from Bank Of America 👏. Because I am a preffered rewards, I do believe which ever category I select is 4.5% 🤔
Yep the 3% categories on the BOA Customized Cash Rewards card are excellent. If you're a Preferred Rewards member, you will earn at an even higher rate (an extra 25%, 50%, or 75% depending on the tier).
I’m new to the game but have great credit. If I were to do it would Amex gold, Amex business for everyday, and Amex platinum for travel sound good? I wanna get the best value I can get. The Venture X sounds great as well
Welcome to the game! What are you trying to achieve? Do you mostly care about rewards points for travel, VIP benefits, or both?
What type of travel do you want to do?
How willing are you to get into the complexity of the game vs. prefer to keep things simple?
@@MarkReese I’m really looking for travel points cause I travel 2 times a year. I want to keep it relatively simple with the points like keeping them under one roof (Amex cause I already have the gold) I got the blue cash back as well but I want points so I wanna get the the blue business plus. But I don’t really have business (yet) and I don’t know how that affects my taxes at the end of the year if I don’t really use it for business. And then I wanted the platinum cause I did the math and I’d use 742 of the credit from the card a year so it would be a plus to have it. I’d really really appreciate your input on this especially the Business blue plus thing. I’ve been going crazy about it. I also don’t mind maximizing my point value at all. I’ll sit there and learn as much as I can to get as close two the max value I can get.
@@thatbigmacinthewindow5762 - In that case, your approach sounds solid 👍 If you want to earn travel points, if you've done the math to make sure the annual fees aren't an issue, and if you're willing to learn the ins & outs of the rewards program, then the Amex ecosystem is a great place to be for travel.
@@MarkReese thank you so much for your response! You made me feel better about my choice. Do you have any advice on the BBP? If I use it for personal use and don’t have a business just yet. Will I have to fill anything different on my taxes at the end of the year?
@@thatbigmacinthewindow5762 - I don't provide advise when it comes to tax requirements.
All I can say is that in my experience, there are no additional filing requirements for using a business credit card.
You forgot the Amex Everyday Preferred. 4.5x grocery, 3x gas, 1.5x everything else.
Another good option! The lists don't include all cards ✌️
Can you tell how do you get 1.5 on everything else??? Thanks. I Amex Everything
@@ow5966 With the 50% bonus, on 30 swipes.
Very niche card, doesn’t work for 90% of people
Ok Listen Amex should make the Preferred card metal and give the card categories that you can choice get rid of streaming and add dining and all travel. No foreign transaction fees!!!
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Ok the process is easier if you have a good credit score, BUT if you are building your credit it will take years to accomplish!
You should only be applying for new cards every six months and paying off your balances in full and not going over 10% of your overall credit available. So you can get a good return with this strategy if you are using the cards in the categories that you are spending. But I have to say.....I LOVE WHEN BANKS PAY ME TO USE THEIR CARDS!
1. It doesn't need to take years.
2. Applying for new cards every 6 months is not a hard rule, nor is it necessary.
3. You can use as much of your credit limit as you like. It's just ideal to have it below 10% by the statement closing date with most issuers as that's often the date your balance gets reported. Other than that date, it doesn't matter since utilization doesn't get reported every day.
BCP, CFF and Citi Double Cash
Great 3 cards 💯
Hi, do you think the Amex green card will bring back the 60,000 and 200 bonus?
I have no way of knowing.
@@MarkReese if you don't mind would you please recommend a comparable card?
Thx...
@@DB6904.- For cash back, the Wells Fargo Autograph is fantastic (almost identical 3X categories). For travel, take a look at the Citi Premier Card
@@MarkReese thank you!
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I like the video but the beginning was really long-winded
Thanks for the feedback!
Hundred credit cards you don’t have 🤣
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First
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0/3. I'm out of the game.
Why don't explain in detail why you disagree with Mark's choices. How exactly is your no credit card strategy more profitable than what Mark is outlining? If you want people to follow your strategy, why don't you tell us all in detail why it is better than using credit cards responsibly. If you can't or won't I will assume it is your admission that it is a flawed strategy that you promote.
why are you here?
I AM THE GAME.
@@TheyMostlyComeAtNight that's crazy
@@berryzedzero A non-answer, what a surprise. I figured you couldn't give any logical answers to my questions. Looks like I was right again.
The videos screams poverty
Thanks for sharing your perspective!
Citi Premier / M1 Owner’s Card / Fidelity Card
🏅🏅🏅
Saludos 🇵🇷🫵
Saludos de vuelta 🇺🇸👊
@@MarkReese Sii 🙌 me gusta tus videos voy la información
Appreciate all the hard work you put into this brother! 🫡👍
Thank you!