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 need
. 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 Disco. 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 merrier
AJC
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 need
. 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 Disco. 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 merrier
AJC
Sweet!
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!
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.
