The 5 Best Credit Cards You Need for 2024

in a world full of dozens and dozens of credit cards it could get confusing to figure out which credit card is best for you and your lifestyle that's why I'll be sharing with you the five credit cards you need in your wallet for 2024 to make your life simpler while still getting as much value as you can the good news is that with these five credit cards you could optimize your rewards for any transaction that life throws at you that could be for dining groceries flights hotels and even that phone or laptop that you're watching this video on whatever it is one of these five credit cards will be a good card for that purchase the first credit card on this list is the Capital One Venture a which is going to be both your travel credit card but also your catchall credit card a catchall credit card is a card that you use for those General purchases that aren't covered by a major reward category major reward categories are things like flights hotels generic travel dining groceries and even gas station purchases but what if you had to buy a new pair of shoes new clothes shampoo a screw driver and so on that is where a catch all credit card will come in handy the Capital One Venture X is a catch all credit card because it earns 2x on any purchase so it doesn't matter whether you're buying a new cup or socks you're going to be earning 2x on those purchases this is great because most credit cards for generic purchases like these will only earn One X back which means you'll be earning double that amount with a card like the Venture X however on top of that 2x multiplier this credit card will also also earn you 10x on hotels and rental cars booked through the capital 1 Travel portal and 5x on flights booked through the capital 1 portal but the capital 1 Venture X is not just going to be your casat all credit card but it's also going to give you essential travel benefits to make your next trip even more enjoyable one of those benefits is global entry or TSA pre-check credit which will expedite the security process at airports and after passing through security the capital 1 Venture X will make your airport experience even better by giving you Capital 1 Lounge aess priority pass lounge aess and Plaza premium airport lounge aess with this benefit you and up to two additional guests can visit over 1,300 different airport lounges around the world for free at most of these lounges you can enjoy things such as free drinks alcoholic or non-alcoholic a comfortable place to sit Wi-Fi and free food another great perk about the Capital One Venture X is that you could add up to four authorized users for free and every one of those authorized users will get their own access to these airport lounges and can bring their own two guests with them as well this is a unique perk in the world of travel credit cards because other cards like the AMX platinum or the Chase Sapphire Reserve make you pay for authorized users which makes the capital 1 Venture x a great option for people who travel with family or lots of friends because you could get multiple people or even everyone you're traveling with into an airport lounge for free this credit card is the most expensive card on the list coming in at $395 a year except I'm I'm going to show you how you could wipe out that annual fee and receive positive value for as long as you hold on to this card the biggest way to get your value back from this credit card is to use the $300 annual Travel credit that comes with it in order to trigger this credit you have to Simply book travel through the Capital One travel portal this could be flights hotels or even rental car purchases and the good news about this credit is that you could use it all in one time it is not broken down into monthly increments which is unfortunately a common theme for other credit cards cards that have monthly credits then the second way to receive value from the capital 1 Venture X is from the 10,000 Capital 1 miles that are automatically deposited into your account after every anniversary year those 10,000 Capital 1 miles can then be used to book travel through the capital 1 portal which is valued at $100 or you could even use those anniversary miles to transfer them to one of capital 1's travel Transfer Partners and receive potentially more than $100 worth of value with using just those two benefits alone you are receiving at at least $400 worth of value every year on a $395 annual fee credit card that's positive value that's also not taking into consideration the positive value you received from all those other benefits and credits like the airport lounge access or the global entry sltsa pre-trip credit and also these next few credits could make this credit card even more worth it for you the capital 1 Venture X card also gives you a $100 experience credit daily breakfast for two and other premium benefits When you book a hotel in the premier collection through the capital 1 Travel portal or you could earn a $50 experience credit room upgrades when available and more by booking a hotel in the lifestyle collection through the same Capital One travel portal the premier collection and the lifestyle collection are both curated portfolios of Select hotels that Capital One has put together on their travel portal and two other travel related benefits that come with this credit card are automatic hurts president Circle status and primary car rental insurance then finally The Venture X also comes with cell phone prote ction and no foreign transaction fees throughout this video so far I know I've been calling the Capital One Venture X your catch all and travel credit card but for the travel aspect you're only going to be using it primarily for the travel benefits because this next credit card is going to be the card which you're putting most of your travel expenses or purchases on this second credit card is the Chase Sapphire preferred the reason why the Chase Sapphire preferred is going to be your credit card that you charge your travel expenses on is because it earns 2x on travel purchases and you might be wondering wait the capital 1 Venture X earns 2x on any purchase and the chase sappi preferred earns 2x on travel purchases so why should I put the travel purchases on the sapphire preferred instead of the capital 1 Venture X the main reason for that is because chase points are better than Capital One points if for some reason you wanted to redeem your credit card points for cash back Capital One will give you 0.5 cents per point of value for cash back redemptions while Chase will give you 1 cent per point value for a cash back Redemption so if you had 10,000 credit card points and wanted to use that for cash back with capital 1 you would get $50 worth of value whereas with Chase you would get $100 worth of value or if you wanted to redeem your credit card points for travel 3 travel portal the capital 1 Venture X will give you 1 cent per point value there whereas the chase sappire preferred will give you 1.25 cents per point value which means the same 10,000 credit card points will be worth $100 through the capital 1 portal or $125 through the chase travel portal that's because the Chase Sapphire preferred has a benefit which gives your points 25% more value when you redeem them for travel through the chase travel portal then the last reason why chase points are better than Capital One points is actually kind of a bit subjective but I think the chase travel partner list is actually better than the Capital One travel Transfer Partner list and here's a list or here's the list of both travel Transfer Partners and I prefer Chase slightly more because of Hiatt Marriotts IHG and United those three reasons are why I would choose to put more travel purchases on my Chase sappire preferred over the Capital One Venture X but there are also a handful of other reward multipliers that come with the sapphire preferred those are 5x points on travel purchased through Chase travel 3x points on dining 3x points on online grocery purchases and 3X on select streaming services and just like the Venture X the Chase Sapphire preferred also has an annual fee except this one is just $95 a year as as a matter of fact this is the last annual fee credit card in this video so that brings your total amount for these five credit cards that I'll be talking about to just $490 per year but just like the Venture X there are benefits and credits on the sapphire preferred that will help you make up for that $95 annual fee the biggest one is a $50 Hotel credit that you get every account anniversary year for hotel stays booked through the chase travel portal if you are able to use this credit every year you cut down that annual fee from $95 to $45 a year but on top of that credit you will also receive bonus chase points equal to 10% of your total purchases made the previous year that means if you spend $10,000 on purchases last year you'll get 1,000 bonus chase points this year as a matter of fact from this benefit alone your reward multipliers are actually increased by 0.1 so you're actually earning 2.1x points on travel purchases instead of just 2x points therefore technically that's another reason why you should put travel purchases on the chase sappire preferred over the capital 1 Venture X because it earns slightly more points on those purchases but the benefits and credits don't just stop there the chase sappire preferred also gives you a complimentary door dash dash pass subscription 6 months of complimentary instacart Plus Membership $15 of instacart credit each quarter through July 2024 5x points on peltin equipment and accessory purchases over $150 through March 31st 2025 and 5x points on lift rides through March 31st 2025 and just like the Capital One Venture X the Chase Sapphire preferred also gives you primary Rental Car Coverage and like I mentioned earlier the Chase Sapphire preferred will unlock the benefit of being able to transfer your chase points to one of Chase's travel Partners which is where you can get the most value from your chase points the next credit card that should be in your wallet is the Chase Freedom Flex this is a no annual fee credit card that is going to do one thing in your life that is to earn 5% cash back on quarterly bonus categories on up to $1,500 in total combined purchases every quarter the first quarter of 2024 which is January to March the Chase Freedom Flex earned 5% back on grocery store purchases excluding Walmart and Target fitness clubs and gym memberships and self-care and Spa services in quarter two you could earn 5% cash back on amazon.com hotels and restaurant purchases most most of the time every quarter there's at least one reward category that you should be able to take advantage of whether that's grocery store purchases PayPal purchases Amazon purchases gas station purchases or even restaurant purchases so although you don't have control over which categories will show up for that quarter or the next quarter there is a high likelihood that you should be able to maximize that 5% cash back every time you activate it along with that 5% rotating category the Chase Freedom Flex also gives you a constant 3% on dining at restaurants and 3% on drugstore purchases the reason why I chose a card like this over a similar card like the city custom cash is because the points you earn on The Chase Freedom Flex can be combined with the points on your Chase Sapphire preferred this way you'll be able to redeem your chase points for that same 1.25 cents per Point through the chase travel portal or you're going to be able to redeem your points by transferring them to a travel Transfer Partner which is a benefit once again from the chase sappire referred whereas with the city custom cach you can't do those things with your city points unless you have a card like the city premere card which wouldn't be on this list we are now over halfway through the list and so far you have a travel credit card SL catch all credit card and a dedicated travel card and a rotating category credit card which means you might be wondering what credit card are you going to use for grocery and dining spin because those are two very popular reward categories that's where the fourth credit card comes in which is the Capital One saver one this is a no annual fee and no foreign transaction fee credit card which will earn you 3% cash back on grocery store purchases dining purchases entertainment purchases and streaming service purchases you'll even earn 5% cash back on hotels and rental cars booked through Capital 1 Travel although your Capital 1 Venture X or Chase Sapphire preferred would be the better option for purchases or travel purchases like that the Capital One saver one will also earn you 10% cash back on Uber or Uber Eats purchases and will give you a complimentary Uber 1 membership until November 14th 2024 the reason why this credit card is so valuable is because it has no annual fee no foreign transaction fees and earns you a respectable 3% cash back on both dining and grocery store purchases now I will admit that the American Express gold card is another solid option that credit card has a $250 annual fee and two monthly credits that give you a total of $240 worth of value every year if you use them those two monthly credits are a $10 credit for Uber or Uber Eats and a $10 credit for food establishments like GrubHub Cheesecake Factory Shake Shack goldbelly wine.com and milkbar if you could happily and easily use those two monthly credits every month and you put all of your dining and grocery spend on the credit card which is the AMX gold then I believe the AMX gold is going to be the better option than the capital 1 saver one however I know a lot of people who can't use those monthly credits because they don't live in a major city and or they don't want to keep track of them every month and in both of those cases the Capital One saver one is a much better option for those people because you're still able to receive lots of value for your dining and grocery spend without having to deal with a annual fee or without having to remember to use monthly credits and another reason why I chose the Capital One saber one is because with the Capital One Venture X you could transfer all of your Capital One points to a travel Transfer Partner in order to receive the best value from those points this a similarly to how the Chase Freedom flex and the Chase Sapphire preferred react or are although the AMX gold does allow you to transfer your points to an American Express Travel Transfer Partner so just keep note of that so you really can't go wrong with either of those two options sa one AMX gold as long as you know which credit card would work better for you and your lifestyle and the last credit card that you should have in your wallet for 2024 is the built Master Card this last spot is technically kind of like a flexible spot where you could change it depending on your use case your lifestyle your spending habits but for my case I'm going to use the built MasterCard because a lot of you out there might currently rent as of right now the built credit card is the only credit card that allows you to earn credit card points for paying your rent and you could do so without paying any extra fees this is so valuable because for a lot of us your rent payment is probably the highest monthly expense that you have and up until this credit card the built card there wasn't really a great way of capturing credit card points by paying your rent with credit cards sure one option is to use a certain portal and use a regular credit card but you'll have to incur usually around a 3% transaction fee that transaction fee usually wipes out all of the credit card rewards that you could be receiving from using a credit card so it defeats the purpose that's why the built Master Card is so special because you don't have to pay that transaction fee you rent or you pay your rent without a fee and receive credit card points on it it's as simple as that and the other beautiful part about the built credit card is that your built points can be transferred to one of builts travel Transfer Partners here is a list of built travel Transfer Partners and there are some really great options on here for you to get the most value from your points but if you don't want to do that you could also redeem your points for statement credits or for certain shopping and travel through the built portal but again I would highly recommend redeeming your points by transferring them to a travel partner the build credit card also earns 2X points on travel and 3X points on dining then to take things further on the 1 of every month the built credit card will earn you double points on dining purchases travel purchases and general purchases that means you'll earn 4X points on travel 6X points on dining and 2x points on those General purchases keep in mind that you do have to use the built credit card at least five times every billing cycle in order to receive points this means if you only use the built card for your rent payment every every month you will not actually receive points since you're only using that card one time per billing cycle the transaction amount for those five times doesn't matter so you could charge like5 $1 purchases to it and you'll be eligible to receive points and yes paying your rent does count towards one of those five transactions oh by the way the built credit card also has no annual fee and no foreign transaction fees which make it that much more valuable but if you don't rent then what is a fifth credit card slot used for well that's really up to you and one option is to have a hotel credit card for added Hotel status or to get a free night at a hotel every year or maybe you want an airline credit card or perhaps you could just get away with four credit cards and live a much simpler life whatever you may choose I want to make the point that with $490 of annual fees you get five really solid credit cards that will bring you value to your everyday life as a matter of fact that $490 is cut down because of the $300 annual Travel credit credit and a 10,000 bonus Capital 1 miles valued at $100 from The Venture X but you also have the $50 annual Hotel credit from the chase sappire preferred which means you have at least $450 worth of value bringing your effective annual fee for five credit cards to just $40 a year other than that thank you guys so much for watching this video and I'll see you in the next one shoot

Channel: Chase Yokoyama

Views: 18,475

Keywords: credit cards, best travel credit cards, catch all credit cards, grocery credit cards, dining credit cards, best restaurant credit card, best grocery credit card, best dining credit card, best grocery credit cards, best dining credit cards, best travel credit card, best credit cards 2024, best credit cards for travel, best credit cards for food, best credit cards for dining, best credit cards for dining out, best credit cards for groceries, best credit cards for beginners

Id: aAjbcIg6mf0

Length: 17min 22sec (1042 seconds)

Published: Thu Apr 18 2024