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what's up you guys sasha here now in this video i want to talk to you about how you can go and climb the credit ladder exactly how long some of these processes will take how you can qualify for better products over time what products are available at the different stages and tell you exactly i can go from basic entry-level credit cards through to the most prestigious the most fancy the best credit cards out there and the steps in between and what you'll get at every stage now been at credit street food that you might have heard of it's a very big us-based credit channel on youtube go and look him up if you're interested i'll also put a link below to the video that i'm referencing put out a video a few years ago where he talked about exactly this and actually very recently he went and updated it and he talks about a specific tier-based strategy it's very simple and i really liked it it's really clean but he talks about the same kind of thing for the us market and so when i saw that when i saw that he updated it i kind of thought well it would be really interesting to do exactly the same thing for the uk market instead so that's what i'm going to do i'm going to walk you through exactly all the different credit cards in the market that i would classify into these different things tell you some interesting anecdotes so let's jump right into the first tier and the first tier is what is commonly known as near prime credit cards now really really simply the reason that they're called near prime and the reason that subprime credit cards don't really exist is because of the way that the credit card commercial model works there is a certain risk level a certain level above which if a customer's likelihood of default is too high it is impossible to create a credit card that would actually be able to be priced effectively for that level of risk that's the reason why you don't really have subprime credit cards anywhere that actually target real supreme customers when people talk about separate credit cards they talk about this near prime segment so what i mean by that is typically you'll see credit cards that are priced up to sort of like 30 to 35 percent territory in terms of the advertised rate and then for the high risk customers that get accepted that rate can be as high as 60 to 80 percent but there's no credit cards that will offer you 1 200 percent or five thousand percent or anything like that that you'll see with some of the loan products and the reason is a credit card works in a fundamentally different way to the way that a loan works and it just wouldn't work in those segments so that's the highest risk that's the...