2020 Credit Card plan (s)

[kerplunk]

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@Anonymous wrote:
@kerplunk - why did you opt for CSR over Amex Gold?

I have both and decided to cancel my CSR, which will cost me $625 ($550 + $75 for wife card) to renew in April. Still a $325 net AF after $300 travel credit (I dont use lyft or grubhub).

My Amex Gold card gives my 5 AU at no cost and for $250 AF get $220 in credits ($100 airline and a free lunch at cheesecake factory every month), so my net AF is only $30 for amex gold.

Amex gold yields 4x pts for restaurants/groceries, and 3x points for airlines. Use my hilton amex card for hotel nights. So from a rewards perspective get far more value from amex gd over CSR.

I value MR and UR points about the same. Only thing is I wish Amex had united and southwest as transfer partners.

I agree simplicity is best, and am planning to do the same as you, although my math directed me toward Amex Gold as my primary card. Just curious why you went with CSR over amex gold?

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Hi - I wrote my response before the CSR annual fee increase and changes. (I am going to edit it now...)

If I were to do it over again, I would choose AmEx Gold over CSR. 4X restaurants and 4X supermarkets is brilliant.

[Anonymous]

I just recently joined and I'm loving this forum so much! So many nice and informative people here.

My plans for 2020 are - 

1) Pay off my CC's — I think I have a little over $2K left. May keep 1 reporting a balance and AZERO the other one. I only have 2 credit cards. I heard that you need a least 3 though. :/

2) Wait for the collection/derog account to fall off my credit report. Should be around March 2020.

3) Ask for a CLI or PC on my QS 1 to a regular QS or Savor 1 (hopefully the savor ) 

4) Send out some GW letters to Comenity to possibly remove some 3 year old late payments. I have 2 from 2017 and 1 from 2018.

5) Let exisiting accounts age, no new apps or inqs and raise FICO scores to above 700. Currently, they're between 686-691.

I think that's all for now.

[Anonymous]

@AverageJoesCredit that's great that you were able to amass that amount out of a rebuild.  I have been half attempting a rebuild for twice that long.  I only really got started last year when I was able to pay down my four cards and get put on a couple of others as AU.   In 2019 I got approved for 3 cards (CSP, AmEx Aspire, and CU Platinum MC).  I also got mailers from Disco but I never pulled the trigger.  During the holidays, I let all my balances creep up.  So the first order of business is to pay down my debt.  My main goal is to get overall ut < 30% and no credit app.  I've been in the garden since October November.   

Before I went on my Holiday spending spree, I had plans to get a CLI on Cap1 QS and app for AmEx Gold, Chase FU and BoA but that probably not going to happen.  If my scores climb back up to mid 600s (they took a fall when my holiday spending balances hit) AND I get an offer in the mail from DISCO, I may app to get a 0% BT.   In reality, I should be content with my 7 cards and just under 27K CL.  It's strange how quickly your credit outlook can change over 3 months.  It really is a type rope.

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[PRose123]

Where is your MARVEL card?! LOL.