BEST CREDIT CARDS 2022 - 2nd HALF UPDATE! Best Cash Back Credit Cards, Best Travel Credit Cards MORE

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hey madam jusko from probably.com and in this video we are going to look at the best credit cards of 2022 an updated look here for the second half of the year before we do i'm going to ask you to please subscribe to this youtube channel if you've not already and if you have already i thank you for doing so so we did a longer form video at the beginning of 2022 looking at the overall credit card market what were the best cards in various categories a lot of that's still relevant and that is sort of a longer form of video that if you wanted to go back to it it would be useful to you in this video it's going to be sort of a shorter updated look at those categories but not quite as in depth with all the cards but we're going to talk about some of the new cards and the updated cards things that have changed since the beginning of the year so let's get to it as always we'll start with cash back credit cards the most popular and the easiest to understand type of reward credit card for this video i'm going to assume that you are sort of coming from a place where maybe you have an older rewards card that doesn't give you very much or maybe you have another credit card that doesn't give you anything maybe you don't have a credit card at all but we're gonna go kind of go from the foundation and then work our way deeper here so the foundation as far as i'm concerned would be to get a two percent flat cash back credit card that gives you two percent cash back on everything you don't have to think about any categories of where you're going to get more where you're going to get less it's just two percent across the board the cards in this category to look at right now as i'm making this video wells fargo active cash visa two percent on everything also a 200 bonus opportunity fnbo evergreen visa same thing two percent on everything there's a two hundred dollar bonus opportunity there you might also choose the paypal cashback mastercard that is going to give you two percent on everything but give you three percent on paypal purchases now obviously two percent on everything with three percent on paypal sounds better than those other two cards but at least as i make this video paypal not offering an upfront bonus and you should never underestimate the value of an upfront bonus so if you could find that paypal cashback mastercard with some sort of bonus opportunity for new card holders then maybe that would be the one that i would say you should go for the second cashback card to get is the citi custom cash card like all the cards i've talked about it is no annual fee it gives you five percent cash back in the category where you spend the most each month that happens automatically there is a predetermined list of categories where you could get five percent everyday stuff like gas groceries restaurants home improvement travel and other stuff as well so wherever you spend the most you're going to get five percent cash back now there's a cap of 500 in that 5 category meaning 500 of spending that you put on the card you get 5 on that first 500 if you go beyond that you would get one percent on purchases beyond the 500 any other purchases that aren't in your top category also going to get you one percent now from here the question is how many credit cards do you want to hold if you only wanted to have one or two more cards you don't want to juggle a big fat wallet then what you would want to do is go after a card or cards that are going to give you enhanced rewards in multiple everyday categories like gas groceries that sort of thing if you are someone that was willing to hold even more cards well then you could zero in on specific spending whether that's specific categories or with specific retailers let's look first at the cards that have sort of those multiple categories where you could get three percent and then we'll talk about some cards where you could zero in and get even higher on certain purchases you might want to consider the capital one saver one card a no annual fee card that's gonna give you three percent cash back at grocery stores on dining on entertainment and select streaming services one percent everywhere else or you might choose the recently updated blue cash every day card from american express no annual fee three percent back at u.s supermarkets three percent back on online retail purchases three percent back on gas station purchases one percent back everywhere else newly launched here in 2022 is the wells fargo autograph visa no annual fee card that's giving you three percent back in a bunch of categories restaurants gas and transit travel streaming services cell phone plans and then you're gonna get one percent back everywhere else if you qualify as a member of navy federal credit union there are more rewards american express card another no annual fee card that is going to give you three percent back on the big three categories of groceries gas and dining one percent everywhere else now we are going to move on to the cashback cards that you might use to further complement the cards you've already chosen if you really want to zero in on getting more on some of those everyday purchases if getting five percent back on more purchases appeals to you you're going to want to look at the chase freedom flex and or the discover it card both of these cards offer five percent cash back in certain purchasing categories that change each calendar quarter so every three months you're gonna have new categories where you get five percent cash back so you kind of have to stay on top of these cards but you do get opportunities to get five percent cash back throughout the year if you're an amazon prime member the amazon prime visa is a no annual fee card that's giving you five percent back on your amazon purchases five percent back on whole foods purchases and then you have some other categories where you can get enhanced rewards as well the us bank cash plus card is going to give you five percent cash back in two categories that you choose from a pre-determined list you'll get that five percent at up to two thousand dollars worth of purchases in those two categories per calendar quarter the card has some other rewards as well if you are a regular shopper at target the target red card is another of those no-brainer cards because it gives you a five percent discount on your target purchases not five percent of rewards you're getting a five percent discount which means if you shop at target regularly and you don't have the card you're paying five percent more than everybody else if you're a member at costco or sam's club both of these warehouse clubs have pretty decent credit cards especially in the gas category you could get four percent back on your gas purchases through the costco card five percent through the sam's club card and there are other rewards on these cards as well and there are many other cash back cards out there that you might consider i'm going to give you a little list here sort of skimming the surface of what i think of as the best that you might also want to investigate those include the u.s bank altitude go where you can get four percent back on your dining purchases as well as other rewards you have the verizon visa which is best for verizon customers because you mostly redeem four verizon rewards but you're gonna get four percent or three percent back on a lot of everyday categories there you've got the venmo visa you've got the bank of america customized cash rewards card the apple card if you're an apple user might be worth getting the walmart credit card and the chase freedom unlimited all right so that's cash back let's talk about travel in my book getting a travel credit card makes sense mostly if you're someone that puts a lot on your credit cards every month and every year or if you are someone that travels a lot actually preferably both of those things so if you spend a lot and you travel a lot well then that's when travel credit cards are going to make more sense there's sort of two roads you could go down with travel credit cards you could go with a specific airline or hotel card or you could go with one of the points cards from one of the major banks if you're thinking about a specific hotel or airline card it makes the most sense obviously to get a card with someone maybe you're already traveling with so if you have an airline or a hotel that you're already traveling with or that you know has a big presence in the places either you travel to or maybe in the airport where you leave from well then those are where it is going to make the most sense to look but all the big names out there delta united southwest hilton hyatt marriott all of them are going to have at least one credit card a lot of them are going to have multiple credit cards now for a lot of people the credit cards that come from a specific airline or a specific hotel chain are going to be too restrictive because you can only use the miles or points at that airline or at that hotel chain sometimes there are travel partners where you can also use them but they're not going to be as flexible as you might get from one of the flexible point cards that are offered by some of the big banks chase and american express in particular so let's start there with chase they have their sapphire preferred card and their sapphire reserve card for most people the chase sapphire preferred is probably the place that you would consider getting that this card because of the fact that it has a more doable 95 annual fee it has sort of modest rewards usually a pretty nice bonus possibility for new card holders but the real key to it for many people is going to be the fact that it is the card you need so the entry-level car you need in order to access chase's travel transfer partners where you can take chase's points and transfer them into a partner program of someone like united southwest marriott hyatt and there are others as well and then that's where people often try to find their sort of outsized value in the uh reward points when they travel with one of the transfer partners now you can also use your points through chase's travel portal and you'll get a 25 boost on the value of those points when you do it you also can pull your points from other chase cards with the chase sapphire preferred and still use them with that 25 through the portal so there is a lot of good going on there you also if you feel like you need to at some point can cash out your chase points at a penny per point which you can't do with the other companies that we will talk about here so that is something to consider you can cash out with the other ones but not at that same higher rate so chase in my view easy for the sort of beginner to understand if they want to get into travel credit cards and much more flexible than the others there also is the chase sapphire reserve like i said 550 annual fee a lot more going on with that card if you want airport lounge access that is the way you would get that and then there are a lot of other things going on as well but if you don't travel as much if you don't spend as much on your cards that's probably not going to be the one that you look at first now american express with their membership rewards program is the other big player when it comes to travel credit cards i find they're programmed to be a little more restrictive than chase's so i don't like it quite as much but some people really really love it and think it's way better than chase's because they feel like they can earn a lot of points through american express and they can use american express's travel transfer partners and put those points into the airline or hotel program of some of american express's partners like delta like hilton like marriott and other international airlines as well now the other sort of downside as far as i'm concerned with american express is really if you're going to be in the membership rewards program you've got the american express platinum and you've got the american express gold as the two cards that you would consider gold card 250 annual fee platinum card 695 dollar annual fee so you have to be willing to pay those annual fees and feel like you're getting good value out of those cards in order for the whole thing to sort of work for you there are some pretty decent rewards on the gold card both cards have a lot of credits that you can use in various ways that if you can totally maximize them you could feel like the cards are good value and some people love these cards and think they are great value again this is where it comes in in terms of how much you put on the card and spending and how often you travel as to whether you're going to feel like these things are a good value capital one last year got into the luxury travel credit card game with the introduction of the venture x card that competes with the american express platinum and chase's sapphire reserve card but it is a little bit of a stripped down version of those cards with a stripped-down annual fee at 395 dollars so if you're someone that likes the idea of airport lounge access and you want a sort of higher end card this is maybe a choice for you three other travel credit cards to talk about the us bank altitude reserve card is another card that competes in that american express platinum chase sapphire reserve venture x category some people would tell you that it's better than all of those cards i put it a notch below but you should definitely check it out as well to see if it better matches your spending and traveling you have the navy federal credit union flagship rewards card sort of a stripped down travel card and that has only a 49 dollar annual fee but some people like it for its simplicity within the last year or so the built mastercard came onto the scene it has some nice travel transfer partners it also has a way for you to earn rewards on your rent payments all right so that is travel now all of the credit cards i have just talked about whether cash back or travel are probably going to be for people that have some credit history and have a decent credit score so if you've got some credit history you've got a credit score over 700 a lot of those are going to be available to you if you don't have any credit history or you have a credit score like under 650 probably most of them wouldn't be available to you so if you're in one of those places new to credit or a low credit score what are the cards for you now regardless of your situation if you're someone that is newer to credit new to credit you're a student you've got bad credit whatever probably the first place i would tell you to go is to one of the pre-approval pages on either the capital one or discover site or both of those sites to see what they tell you about how they look at your credit history so they're going to give you an idea when you give them your information of what cards you're probably going to be approved for if you go through with a full application those aren't guaranteed even though they call them pre-approval but they're probably going to give you a decent idea if you go through capital one and discover and they tell you these are the cards that we think you could be approved for well then there's probably a decent chance you will get approved for those cards but if they tell you you're not approved for any of these cards well then it probably wouldn't make much sense for you to continue to look at them now if you are a student a college student and you went through capital one or discover there's a pretty good chance that they're going to tell you are eligible for one of their student cards discover is especially aggressive on the student front in terms of trying to get you in so there's a good chance you would get approved there i really like capital one's saver one card for students which is essentially the same as the saver one card we talked about earlier now if you're not a college student but you are new to credit or even if you are someone that has had some past credit problems you've got bad credit a lower credit score my advice is probably still the same start with capital one and discover see what they tell you through their pre-approval if things look good you could go through and apply for those cards and hopefully you would get approved if you do not see anything good coming from that pre-approval i would move on to the pedal card there are two versions of this card pedal one and pedal two one of them is a little more for new to credit one is a little more for maybe people that have had some past credit problems do a pre-approval there and see if it looks like you're gonna get approved for one of those cards if that doesn't work out you might try the apple card especially if you are an apple user this is a card that has been open to people who are new to credit and has been open to people with some past credit problems now if none of those things work out and you're new to credit or you have bad credit i would say don't go with some of the in between cards that give you a lot of fees with very small credit lines you probably should go on to a secured card that would require you to put down a security deposit which is not anyone's you know favorite thing to have to do but you get better cards with a secured card than you would with an unsecured card where you have to pay some you know 100 fee or something up front you have a really high interest rate and then there are you know monthly fees or whatever i would say avoid those and go with a secured card probably the discover secured card is the one that i would say most people would be happiest with because of the fact that when you get that card even though you have to put a deposit down oftentimes as long as you use the card right you pay all your bills back on time that sort of thing they are the most likely to graduate you in a short time to an unsecured card and then finally small business credit cards there are five that i would suggest even though there are other good ones on the market as well but the five i would say take a look at first american express has the blue business plus or the blue business cash card they also have the business platinum card that a lot of business owners like chase has the ink preferred or the ink cash card any of those could be the right card for your small business questions comments put them in that comment section below otherwise i thank you for watching and as always please go to proudmoney.com where we do credit card reviews we talk personal finance we talk deals and all sorts of other fun stuff too if you are not going to leave a comment or you're not going to go to the website what you should do now is watch this video
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Channel: ProudMoney - Credit Cards & Personal Finance
Views: 34,256
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Length: 16min 16sec (976 seconds)
Published: Wed Jul 20 2022
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