UK Credit Card Ladder explained: from beginner to exclusive cards

[@LoyaltyLlama]

40 points welcome bonus on the Amex Gold (or 100K on Platinum). Drop me a message for a referral link: [e-mail]

[@KT-bv2jf]

hey brother, just wanted to mention that your video is one of the most informative I've come across so far(on this topic). You're doing an amazing deed.

[@LoyaltyLlama]

Thank you so much!

[@Crazy_Charo]

Good video. Well explained and the ladder is clear. I moved to the UK in October 2022, and got a Tesco credit builder card after 8 months. I travel alot for work, and enjoy traveling with my family so a few months later I looked at one of the Avios card, and finally settled on the Amex BA premium plus card which works well enough, except for the fact that many places in Europe don't accept Amex. I don't think that I would go any further up the credit card ladder as I don't think the benefits those cards bring would help in my situation. But once again, thank you for a well structured video.

[@LoyaltyLlama]

Thank you for sharing your story! Agree that Amex still has way to go when it comes to acceptance. Plus if we’re talking about Europe, there’s also the 3% foreign transaction fee.

[@kryptozplayz2898]

You did the topic I requested, Nice video man very well done. 💪

[@LoyaltyLlama]

Thanks again for the suggestion!

[@uvedevendetta]

you sir got a new subscriber here. Fantastic video

[@LoyaltyLlama]

Thank you!

[@sohunghundal]

You are doing a great job, mate keep it going. Best wishes 🎉

[@LoyaltyLlama]

Thanks a ton!

[@ramimmollah4624]

Great Video!

[@LoyaltyLlama]

Thank you!

[@camzy01]

Excellent video mate. I've taken interest in credit cards since getting my first bundled in with my student HSBC account, years later I've got much better cards now but even despite decent background knowledge this video still enlightened me on quite a few products I wasn't aware of. Goes to show both how well researched this video was, and the lack of existing comprehensive videos of this nature (for the UK, endless sea of videos for Americans). Been considering upgrading either my Amex Platinum Cashback or VA Reward card to their respective tier 3 counterpart/s in the near future and this video (along with your video about your VA premium economy flight experience) will defo help make an informed choice! A random note on the Virgin Atlantic cards that could influence someone choosing it over an Amex etc. is the ability to have Tesco clubcard points converted into Virgin points at a 1:2 ratio via Virgin Red. If you already shop there that's an instant and consistent source of bonus points. Technically not an offering of the card (and could be discontinued at any moment) but still worth noting

[@LoyaltyLlama]

Thanks for your comment, it was honestly a pleasure to read. And that's a great tip on Tesco points. They used to be convertible to Avios but now I guess it's Tesco&Virgin and Sainsbury's&BA. Good luck with your tier 3 card!

[@InflightWithJames]

Fail to mention that for a few of these at least, you need a premier bank account to be eligible. And for that you need an income of around £75k or a huge amount of savings.

[@LoyaltyLlama]

Great point, thank you! You do need a premier account to get the HSBC Premier World Elite MasterCard. I think that's the only one (but I may be misremembering something, will double check tomorrow)

[@IggySmallzz]

Amazing video!! Very informative.

[@monstermunch4956]

Thank you very much for this video. It was really helpful

[@julianborrero4977]

Hi, Thank you for going so in depth! I have a unique situation at the moment where i'm going to be spending more than usual in the next 12 months. I'll be spending -£2000 on a laptop form apple -£1500 with Quantas for flights. (I wouldnt use BA unless i got some amazing value from them via rewards) But after that, I probably won't spend more than 500-1000 on big purchaces like flights or gadgets for a few years. Day to day shopping at Asda, and Aldi at around £5-600 per month And then maybe £100 in other monthly expenses at various places - restaurants, commuting etc. Which cards do you think might be suitable for my situation?

[@quintonlee4107]

I just wanted to point out that the Lloyds and Santander World Elite cards don't include travel insurance - though with Santander you can purchase discounted insurance by having that card. With HSBC, travel insurance comes with being a Premier customer, you don't need to pay for the credit card.

[@TheTitan11]

Thanks for making this!

[@andycosta7125]

The Lloyds Elite card does NOT include travel insurance

[@christianloor6363]

Great video thanks

[@MrFahrenheit_B1]

You did forget one more tier 5 card. The Barclay card infinite card.

[@LoyaltyLlama]

Hi there! I was under the impression this card was discontinued a few years ago, no?

[@MondoCat]

Centurion card has kidnap insurance built in.

[@LoyaltyLlama]

Interesting! I wonder how that works

[@barrybbenson3879]

Really great video! I currently have the standard BA Amex but thinking of upgrading to either the Gold or Platinum - do you have a clear preference of the two?

[@LoyaltyLlama]

Thank you! If I absolutely had to pick between the 2, I would go for the Gold based on my personal circumstances: I value the increased points earning, already fully utilize the Deliveroo credits and 4 lounge passes a year are handy for when I'm not flying a Oneworld airline (have status with BA currently)

[@ThePrivet18]

If I don’t fly a lot, which card would you recommend? I can’t pick between Amex free cash back every day, Amex rewards card, vs Amex nectar?

[@LoyaltyLlama]

Great question, let's see what we have here: 1) Amex Nectar essentially gives you 1% cashback but you can only spend that cashback with Nectar partners (i.e. Argos, Ebay, Eurostar, Sainsbury's). Plus the welcome bonus is equivalent to £100 of spend at the same stores. 2) Amex Cashback card gives you 0.5% cashback but you can spend it anywhere you want. Plus the bonus from the promotional 5% cashback rate (which can currently reach £145 if you're referred) can be spent anywhere as well. 3) Finally, Amex Rewards gives you 1 MR point / £ spent which is equivalent to 0.66% cashback at Nectar partners. The welcome bonus (which can reach up to 12K points atm) is also equivalent to ~£80 spend with Nectar partners. So 2 (Amex Cashback card) seems the best if you're eligible for the welcome bonus. If you shop with Nectar partners, you can later switch to / add the Amex Nectar card (it's also free in year 1).

[@LoyaltyLlama]

And I just realised that I had accidentally cut out the part about Amex Nectar from the video when editing :(

[@ThePrivet18]

@@LoyaltyLlamathank you so much for such an amazing answer!!!! You’re awesome!

[@LoyaltyLlama]

Happy to help!

[@ahil902]

There’s 2 Amex Cashback card 1. Amex Cashback Everyday Credit Card 2. Amex Cashback Credit Card Can you tell me what’s the difference between then and which is better?

[@matheuslimahallmark7836]

Hi there. First of all, thanks for your videos. I find them to be very insightful and informative! I want to pick your brain on this one, if you don’t mind. I have a AMEX gold card. It’s anniversary is on August 21. I already called AMEX and they offered me 12,000 points to keep the card. I have already received those points as I easily spent with the amount of money they want to in order to get the points. I also have the Amex British Airways premium plus card - I love it! I called AMEX twice trying to upgrade my gold card to the platinum card but they won’t do it. I travel multiple times a year and I find the benefits of the platinum card very good for my daily needs (lounge and car insurance alone makes it worthwhile). What would you do if you were on my shoes? I wonder if I should wait until the gold card anniversary date in hopes Amex will offer me an upgrade. I looked around and couldn’t find some similar to the platinum card. TIA Matt

[@LoyaltyLlama]

Hey Matt! There're a couple of cards that provide unlimited lounge access for

[@naeem_talukder]

Thanks, i was looking for a video like this, could you roughly tell me the duration between one status to another status and your financial situation?

[@LoyaltyLlama]

Thanks! In my case, I had a 6-month period before moving on from my Tier 1 card and then 12 months when I went from Tier 3 to 4. But to be clear , these are by no means published/official requirements.

[@naeem_talukder]

@@LoyaltyLlamathanks for your reply, I know, but I just asked for an estimate idea. I am new to this country. Brw, Thanks ❤

[@LoyaltyLlama]

Sure, I understand, I was in the same boat not that long ago 😊

[@nabeelahmed6317]

Thank you for helping me solidify my decision to get the barclaycard forward as my first credit card. How long did you have this card before upgrading to barclaycard avios? And how long after getting your first card were you able to get your first Amex card?

[@LoyaltyLlama]

I got my first Amex around six months after Barclaycard Forward (March -> August of 2019). Please note there's no officially recommended/guaranteed timeline here so your mileage may vary. And don't forget to do your own research before picking the best card for yourself! Barclaycard Avios I got a couple of years later since it didn't exist at the time.

[@kashatin2567]

Hello! Thank you for detailed explanation of all tiers. Could you please tell me how you got Barclays Forwad after just 6 months in the UK? Did you applied offline in a branch or how? Currently Barclays required living at least 2 years in the UK before submitting the application for the Forward.

[@LoyaltyLlama]

Hey! Yeah, seems like you're right, just checked Barclaycard website again. I wonder if it's a new requirement, cause I don't remember anything like this back when I was applying. To answer your question - I applied online.

[@dantedomingo2233]

Thank you for the video! I was thinking of getting a Barclays Forward card. I was wondering how long (for example, 2 years minimum) before you think of having this as your sole card until you 'graduate'?

[@LoyaltyLlama]

Unfortunately, it's hard to tell due to how little visibility we have into the lenders' decision making process. In my case I used the Forward card for 6 months. But I know people who had a credit builder card for a lot longer as well as those who skipped this category entirely. In any case, make sure to carefully read the published eligibility criteria for the card you're applying for (e.g. minimum income or residency requirements), keep your payments on time, credit utilisation in check and number of new card applications low.

[@talli22]

Hey, In order for your Premium Travel insurance on your platinum to be valid don't you have to purchase the holiday/flights with the platinum card? What i am trying to get at is it worth having the Amex Gold and Platinum duo? (£845 in AF's) Are you only using the platinum mainly for travel benefits whilst keeping daily spend on gold? You get 3x more points booking travel with amex travel with the gold instead of platinum (2x) but then you miss out on the platinum benefits.

[@LoyaltyLlama]

No, you don't have to use the Platinum card to book the trip for the insurance to work. I believe it needs to be any Amex card but I also had the insurance pay out for a trip that was part paid with a Mastercard (simply because the merchant didn't take Amex)

[@Serenaeatss]

Is it possible to churn credit cards with the virgin atlantic card in the uk? the welcome bonus is so good and i was wondering if it is limited to "once per lifetime" like amex?

[@LoyaltyLlama]

Seems like it's even easier with Virgin Atlantic: they require you to not have held their card for the last 6 months (see "A quick check" section on uk.virginmoney.com/cards/products/vaa-cards/pre-apply?source=VAA-PVA-NA-NA-04364&agg=VAA&product=reward-plus-card)

[@umer90o7]

Hey nice video! For the tier 1 card, it said to apply for it yoy must have lived in a uk adress for 2 years, but you mentioned you applied for is 6 months after reaching the UK. How did you do this?

[@LoyaltyLlama]

Hey! This must have changed at some point. There was no such condition when I applied for the Barclaycard back in 2019. Have you tried checking at other credit builder cards?

[@umer90o7]

@LoyaltyLlama I have, unfortunately it requires you to be living in the UK for a couple of years before. I personally dont have an issue as I'm in the UK rn but don't plan on getting a credit card until I'm done with uni, so I'll already be in the UK for a few years when I apply

[@MrHTown786]

Which Barclaycard avios do you have? The free or fee one?

[@LoyaltyLlama]

The free one. I just use it in places that don't take Amex.

[@MrHTown786]

@@LoyaltyLlama I saw the video. Get the bonus and then downgrade to the free one. Also I’m thinking of using Amex gold and barclaycard avios. This would be on top of my chase debit card and if needed and when needed a 0% purchase card. This I think would be a good strategy for me. Do you have any thoughts or recommendations for me?

[@unknown_4.4]

When i start getting more upgraded credit cards what i should do with the old ones ?

[@LoyaltyLlama]

Hey, thanks for the question! Personally, I close them unless I still need them for something. The only exception was my first credit card - I still have it as it determines the so called "age of credit" (i.e. how long I've had a credit account for) which is an important part of my credit history. And to be fair, if your new credit card if with the same issuer, they may let you just switch to it, in which case you keep the same credit account and there's no question of what to do with the old card.

[@us3445]

I have a question. You mentioned that you have both the Amex gold and platinum. I thought you aren’t able to get the welcome bonus if you have had an Amex within the past 2 years?

[@LoyaltyLlama]

That's correct, I didn't get any bonus for Amex Gold because I already had the Platinum card at the time.

[@us3445]

​@@LoyaltyLlama Okay thank you! Do you think in my case, it would be worth cancelling my regular BA amex and waiting 2 years before getting the gold or just going for it?

[@LoyaltyLlama]

You could try to calculate (at least roughly) how much value the BA card would give you in the next 2 years (e.g. in Avios, vouchers) and weigh that up against the potential welcome bonus that the Gold card could give you in 2 years. Also factor in whether or not you'd get an alternative non-Amex card for these 2 years.

[@gdotmoney96]

​@LoyaltyLlama do you still own the gold and the platinum? Also you did say you got the plat card and received 85k bonus after cancellation of HSBC then you also say you got 70k for the platinum card with 200 pounds travel spend. How did you get the platinum bonus 2 times ??

[@LoyaltyLlama]

@@gdotmoney96 I closed the Gold card, currently have the Platinum and BAPP. Hm, do I say I got 85K bonus (sorry, don't remember where exactly this could have been in the video)? The bonus I got on the Platinum is 70K + £200.

[@cutekanjii]

Get on the ladder is hard in the first place seems to take forever eventually got on it but credit score was raking forever to start going up. They discriminate against disabled people etc

[@benthomas7198]

Of course they would, they're a liability in a lenders eyes

[@Cmi1267]

lucky my mummy had opened a HSBC premier account for me when I was 18, so when I graduated I could immediately get the HSBC world elite card.

[@LoyaltyLlama]

Sorry to hear that and I hope you managed to build up a decent credit history!

[@Will_3rd]

Great video, very useful for UK credit card geeks 💳🤓

[@LoyaltyLlama]

Thank you, glad to hear!

[@anandmoghan]

I could get an AMEX Platinum here in India and I have heard I can use that relationship to get an AMEX Platinum in UK once I move there. Do you think it would be a working spending around 650 GBP twice to get the platinum card once I move there itself? I heard you can even transfer points too.

[@LoyaltyLlama]

I didn't know you could transfer points between the 2, are you sure? I also wonder if you can actually get the welcome bonus on both.

[@MotivationAdonis]

I think you can it’s on the AMEX website they take into consideration your abroad AMEX Card.

[@seban3823]

Hi, I traval a lot on train and in car within UK. Can you recommend me a cashback credit card. Currently i have a capital one credit card (3k credit limit) Thank you.

[@VanshSolanki-hz9mw]

I have no credit history and I’m getting declined for cards what would you recommend to do

[@916GOLD-l4e]

I would say for bits credit builder card , you need to pay 14 pounds fee every month. After building your credit history of good repayment . Apply 118 118 money credit card or capital one

[@PCs454]

why do i keep getting unlikely when i do the elegibility checker? I tried barclays, santander amex and tsb and they all say unlikely approval. i have 502 credit score and no missed payments since 2021.. is that bad? :( thanks anyone 🙏🙏

[@LoyaltyLlama]

Sorry to hear that! Make sure you're carefully reading the published eligibility criteria for the cards you're applying for (e.g. length of address history, salary requirements). If the bank you already have a current account with offers credit builder credit cards, try contacting them directly, hopefully they can advise about eligibility.

[@PCs454]

@@LoyaltyLlama oh do you mean to say that its difficult to get the "good" cards as a first credit card? good as in the ones that do rewards and cashback? so i have to get a "credit builder card" which isnt very premium for now? 🥲🥲

[@imanyassaee]

Hi, Thank you for providing the information. I am currently looking to build my credit score to qualify for a property purchase. Despite having a salary of £27,500, my applications for M&S, Barclaycard, and Tesco Bank have been declined. Could you please provide guidance on how I can improve my credit score and increase my eligibility for credit cards? Thank you very much for your assistance. Best regards, Iman

[@gdotmoney96]

Very informative video that caters for the uk. The rest i have seen are mostly for usa and canada

[@LoyaltyLlama]

Thanks!

[@NewAlbionTV]

HSBC actually did something to "apologies". This just does not happen. Never.

[@LoyaltyLlama]

Yeah, I did not see that coming!

[@Aarontlondon]

HSBC ALWAYS has delays and issues with delivering their cards. 😂

[@01919]

U gotta hit the gym bro

[@Lconta1234]

Great video!

[@LoyaltyLlama]

Thanks!