UK Credit Card Ladder explained: from beginner to exclusive cards

How to choose the best credit card when there're so many options out there? Let's categorise the UK credit cards into 5 tiers starting from basic ones, all the way to the most exclusive cards.
Other videos I referenced today:
3 reasons to get a CREDIT CARD (UK) - • 3 reasons to get a CRE...
Best UK Cashback Credit Cards - • 5% CASHBACK on everyth...
Amex Mariott Bonvoy - • 🇬🇧 40K Mariott points ...
Amex BA Premium Plus vs Barclaycard Avios Plus - • BEST Avios credit card...
1 year with Amex Gold - • 1 year with Amex GOLD ...
2 years with Amex Platinum - • 2 years with AMEX PLAT...
Timecodes:
0:00 - What is the credit card ladder?
01:13 - Tier 1: Credit Builder cards
03:50 - Tier 2: Rewards cards
08:12 - Tier 3: Premium Rewards cards
12:49 - Tier 4: Lifestyle cards
19:58 - Tier 5: Invitation-only cards
#amexplatinum #amexgold #americanexpress #creditcards #creditscore

[@LoyaltyLlama]

Get a 30K points welcome bonus on Amex Gold using my referral link. Drop me an email at [e-mail] for this and other referral offers.

[@TheTitan11]

Thanks for making this!

[@christianloor6363]

Great video thanks

[@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!

[@sohunghundal]

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

[@LoyaltyLlama]

Thanks a ton!

[@kryptozplayz2898]

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

[@LoyaltyLlama]

Thanks again for the suggestion!

[@ramimmollah4624]

Great Video!

[@LoyaltyLlama]

Thank you!

[@Lconta1234]

Great video!

[@LoyaltyLlama]

Thanks!

[@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.

[@gdotmoney96]

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

[@LoyaltyLlama]

Thanks!

[@Will_3rd]

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

[@LoyaltyLlama]

Thank you, glad to hear!

[@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)

[@VanshSolanki-hz9mw]

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

[@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.

[@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)

[@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.

[@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

[@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)

[@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

[@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 😊

[@MondoCat]

Centurion card has kidnap insurance built in.

[@LoyaltyLlama]

Interesting! I wonder how that works

[@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.

[@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.

[@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!

[@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?

[@FrothyBumSqueeze]

how do you access lounges with these cards? I work at an airport so is this a life hack for free food

[@LoyaltyLlama]

Hi! You need a same-day boarding pass in addition to the pass to get into the lounge.