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2020 Credit Card plan (s)

Mega Contributor

2020 Credit Card plan (s)

First id like to wish everyone a safe and Happy Holidays.

Im bored, seems it been real slow here this past week so i figured id set up a thread not only for myself, but to see where everyone looks forward to doing with their credit in 2020.

I cant believe its been 5 years since i started rebuilding. Ive definetly plateaued on what i can do with credit on my income and once a few things update on my credit report i really need to think what im going to do with my profile.

On a super low income ive amassed over $215k + in credit limits, 28 active accounts , 45 total accounts so my profile is gonna be pretty thick for next couple years. I may force myself to start reducing cc accounts in 2020 for many reasons. Less accounts to focus on, less temptations to spend, especially my store cards. Lol, what the heck do i do with a 15k Walmart store card?. Not a fan of Wally to begin with plus i have the MC as well.

I think i may force myself to close one account per month. Another possible goal is to just rid myself of cards that have cashback redemptions like $25 . I have my Amex CM that cant even be redeemed for true cash, a WF Visa that slso has like a $25 redemption. Ive been using my Disco almost exclusively lately and with my low income/ spend, using one card almost makes perfect sense.

All my rejections this year though they stink has taught me its time to take a break from credit seeking and also saved me from getting cards that i actually didnt really needSmiley Wink. Ill try and keep this thread active as i go along the way , hopefully going 12 full months with no apping, or cli requests, even from my beloved DiscoSmiley Wink. For thread sake i do have an active app in play to finish 2019 though i of course expect it to be denied. Figured id do it now so i can be completely clean in 2020. If by miracle it gets approved, it would actually help some of my goals for 2020.

Ok, best of luck , health and happyness to all in the coming year. If you'd like to add your goals to this thread, please do, the more the merrierSmiley Happy AJC
123 REPLIES 123
Community Leader
Super Contributor

Re: 2020 Credit Card plan (s)

I'm not ready for pruning yet... still need the ridiculous lines for utilization padding.


As of a few days ago, I'm firmly in the garden for 365 days.  No new accounts, no inquiries.


I've got a quite a few balance transfers to do in Jan/Feb of 2020, but other than that, I intend to lay low next year.


Good luck!

09/01/21 Fico 8: EX 736, EQ 750, TU 746.
09/04/21 Fico 9: EX 741, EQ 757, TU No idea.

Zero percent financing is where the devil lives...
Message 2 of 124
Valued Contributor

Re: 2020 Credit Card plan (s)

I need to review my AF cards this year and figure out if I want to continue them.


I know I will be asking for retention, or downgrade on my delta gold. I need to crunch numbers on my csR in June, and on my aaps in October.


No new app until 2021.

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PⵢA: Wear a respirator (Π95, Кп95, ҞҒ94), period.
Message 3 of 124
Regular Contributor

Re: 2020 Credit Card plan (s)



My goals: Get a car loan, get 2 credit cards (not secured under my belt) then garden for at least a year. Current fico scores are in the low 600's (barely)... and be mentored by you, LOL!

Starting Score: 12/18/2019 EQ 601 | TU 614 | EX 596
Current Score:07/3/2021 EQ 671 | TU 666 | EX 677
Goal Score: 780

Message 4 of 124
Not applicable

Re: 2020 Credit Card plan (s)

I don't really know what my credit plans for 2020 are. I am at the point where my BK falls off in July and that's going to open a bunch more doors for new accounts. I may take another shot at Cash+. 

I really should prune some of my cards, especially my ridiculous Sync exposure, and I'll definitely downgrade BCP to BCE but my main focus right now is paying off the balances I racked up the last few months as quickly as possible. $4200 is a lot more than I am comfortable with. 

Message 5 of 124
Valued Contributor

Re: 2020 Credit Card plan (s)

I’m just going to let my accounts age, close credit one and work on CLI with Discover PNC and chase.

Come on chase you know you wanna up my limit. When the account hits about 6 months of course.
July 2020
Experian Fico 8. 707
Transunion Fico 8. 705
Equifax Fico 8. 724

Capital one QS1. $2450
Discover IT Cashback. $12,000
PNC cash rewards signature Visa. $17,500
Chase SW rapid rewards signature visa $6900
Amex Green Card NPSL POT $11,000

Amex Hilton Honors $1000
Citi Rewards $3900
Message 6 of 124
Super Contributor

Re: 2020 Credit Card plan (s)

I'll probably do at least a little bonus chasing, but I'll generally focus on MRs.


Some AF trimming, but I'm not sure how much will be downgrades vs. closures. 

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 7 of 124
Valued Contributor

Re: 2020 Credit Card plan (s)

My big thing is to stay put for now and try and grow lines organically. Not sure I will be adding a new account in the next year given my current lineup. Really happy with that lineup and want to play with it for a bit.

If I do subtract it may be the gold card, but a lot of that is contingent on the changes--if any--that happen to the CSR.
Bourbon and bow ties.
Current Cards:

2020 Goals:
$100K total CL (through organic/soft pull growth; COMPLETE!)
750+ across bureaus
No real goal cards for now
Garden Forever.
Message 8 of 124
Valued Contributor

Re: 2020 Credit Card plan (s)

My plans just got slightly adjusted due to getting an Apple Card (there is a thread with a longer version of why), but same basic plan I would have given last week ...


1 - Wait until at least late February, when I will be eligible to apply again for an Amex CLI. I won't apply unless I'm getting preapprovals for some Amex cards. I will wait a little longer if I'm not seeing good preapprovals. I do not want another Amex card, I just speculate that preapprovals are a good proxy for whether they will approve my CLI request. I would ideally like a 3x CLI on my Hilton card to $9,300. If that happens, I will move $1,500 to the Delta card and wait six months to try for another 3x CLI on the Hilton card. If I am able to get that 3x CLI as well, that would take Hilton to almost $24,000. I would then equalize the two cards (Hilton and Delta) to ~$12,500 each. If I get smaller CLIs, I will follow the same general plan, just with lower numbers.


2 - Late next year, I will probably try again for the Ducks Unlimited card (rejected in fall 2019).


3 - I will also request Discover SP CLIs every few months. I need to see if Apple CLI requests are SP or HP. If they are SP, I will also work on that. Coastal is a HP. I may or may not do that. I don't want the HP, but on the other hand, Coastal loves me and may bump my CL up quite a bit. They gave me a $5,000 CL when nobody else would even give me an unsecured non-predatory card. I'll also request CLIs on my two Sync cards periodically.


4 - I might downgrade my Hilton card shortly after the second AF hits.


5 - Otherwise, stand pat, prepping for Sapphire application sometime in 2021; and, a Sapphire is as far as I can see for my credit card plans. Nothing after that right now, although I am sure that will evolve over years.

FICO Resilience Index: 69. Cards: 10/24, 3/12, 3/6. Accounts including loans: 12/24, 4/12, 4/6. At first accidentally, later deliberately, I used what I call the "thick-start" build method, which leads to heavy credit-seeking for a while with the goal of coming out of it without needing to build a thin profile for years. There are pros and cons. Thread describing method
Cards (oldest to newest)

Authorized user / Corporate / Auto loans / Personal loan

Card CLs total $151,100, not counting the AU card. The AU card brings the total to $177,600. In 03/19, card CLs totaled $0.
CU and bank memberships: Coastal Credit Union, joined 1987, direct deposit; PenFed, joined 2019; Navy Federal, joined 2020; USAA, joined 2020; Chase Bank, joined 2020. Best: Coastal, worst: NFCU. I have had weird Keystone Kops customer service problems with NFCU several times, despite their reputation here.

Closed but still on reports: American Express Gold, NPSL, 08/19-06/21 | American Express Delta Gold, $1,000, 09/19-10/20 | American Express Hilton Aspire, $3,100, 09/19-12/20 | Citi secured, $200, 04/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.
Note: My signature is updated frequently, and updates appear on all instances of my signature including on old posts.
Message 9 of 124
Regular Contributor

Re: 2020 Credit Card plan (s)

As of right now, the only real plan is PC my rewards+ to a DC once the account is eligible to do so(june).
No apps or inquiries on the horizon.
But you never know when things are going to change.

Message 10 of 124
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