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2020 Credit Card plan (s)

marcomay2016
Established Member

Re: 2020 Credit Card plan (s)

I have big goals since I'm finally taking responsibility for my credit health:

1) garden until June 2020
2) Purchase a car in July 2020 using my own credit
3) Obtain NFCU credit card(s)
4) Obtain PenFed credit card(s(
5) Get all three credit scores over 700 by December 2020.
Starting Score: 579
Current Score: 648
Goal Score: 720


Take the myFICO Fitness Challenge
Message 101 of 124
vpae
Established Contributor

Re: 2020 Credit Card plan (s)

CC Goals for 2020:

 

  • Pay off 2 remaining CC debt on 0% APR BT -- by 8/1/20 and 10/1/20
  • Drop below 5/24 -- 5/24 as of 1/1/20, 4/24 as of 3/1/20, 3/24 as of 6/1/20
  • Aim for $700,000 in CLs using SPs only, 4506-T as needed -- Currently $685,900 
  • No planned apps but keeping my options open in the event something exciting is announced
  • Carry no more than 6 CC in my wallet to prevent it from stretching out so I stop going through wallets
12/19/19 06/11/20 07/02/20
Total CL: $708,900. Largest CL: Amex Bonvoy Brilliant $70K. Apple Card $40K. Chase Ritz Carlton $35K. Mouseover for individual CLs
Message 102 of 124
credit_endurance
Valued Contributor

Re: 2020 Credit Card plan (s)

Great thread buddy 😀 I was going to start one of these myself but hey, you beat me too it! 😉 


I am thinking about pruning some of my collection in 2020. I have actually had a few CLD as well as actual closed cards this year for non usage as that could be a sign for me to slow my roll a bit. I have been on the rebuild now for going on 4 years. I have seen my profile plateau with around  $600-650k in TCL. But I have also this year racked up more denials than approvals.Will be tweeking and pruning a bit to get around $600K. Going to sit out most of 2020 credit seeking and letting my profile heal. I do have some work yet to do as my very last negatives are scheduled to drop off of 2 of my reports. This should give me a substantial score boost. Actually hoping to get very close to the 800 Fico club. Going to be hitting the bureau's up for some EE luv😂. Got a couple of goal cards I will try for at the end of next year.

2019 Highlight: FINALLY received offers from Penfed on my dashboard 😆 took the offer to increase my PCR to $50,000!! 🥳  Getting approved for my second Citi card (but they still won't give me a cli on my DC) Finally getting approved for my 3rd Navy credit card. (Will be going after sp cli's throughout the year). 

 

2019 Lowlights: Losing 5 Tradelines all closed due to non usage. Total $69,000 lost.

 

All the best to all members this holiday season. And see you on the other side! 🥳

Starting FICO08 Scores 2016 All in the mid 500’s
Current FICO08 Scores AUG 2021 (TU 770) (EQ 775) (EXP 762)

“The credit is no longer bruised, it has endured the test of time” (formally know as bruisedcredit)

Garden Party Until July 2022….Chase 4/24
Message 103 of 124
eastsea
Regular Contributor

Re: 2020 Credit Card plan (s)

I started rebuilding in August this year and have made good progress since.  Ultimate goal is to have 5 to 6 credit cards all from different lenders to make a balanced and "thick" profile without big exposure from any one particular bank.

 

Cards opened since August:

 

AmEx BC Everyday: $2000 (Will attempt a CLI next month) 

BoA Cash Rewards: $5000 

 

Credit card issuers I am considering and think I have a chance: 

 

TD (Have existing relationship)

HSBC (Ditto)

PNC (Used to bank with them and parted on good terms)

Capital One (Family can easily add me as a co-signer) 

Discover (have pre approvals)

Regions (have pre approvals)

BB&T (have pre approvals)

BBVA ClearPoints (Goal card)

BMO Harris (Used to have their card started as a Diner's club card)

Fifth Third (have a branch close by)

Synovus (have a branch close by)

 

Banks I do not think I have a chance:

 

Chase 

Barclays

US Banks

Citi (I had a mystery collection from Citi and successfully disputed it.  From Citi's point of view I burned them.)

 

 

  

Message 104 of 124
ClassicMan
Valued Contributor

Re: 2020 Credit Card plan (s)

I myself started rebuilding in July 2018, at the point I'm just wiating for scores to increase and try to get these Capital one late payments removed. But in the next 2-3 months I will ask for a CLI on both of my Cap1 QS and QS1 cards. And like in May or June timeframe i'm going to ask for  a CLI on my NFCU rewards card and apply for either the AMEX or Flagship.

12/18/19




05/27/20





Cards

Authorized User
Message 105 of 124
tcbofade
Community Leader
Super Contributor

Re: 2020 Credit Card plan (s)


@M_Smart007 wrote:

 

I think I will let My 21 new accounts from 2019 age  ..

And I will just Graze in the garden for a whileSmiley LOL

 


^  Gardener of the year 2019!  Smiley Tongue

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 106 of 124
Jinxs1591
Member

Re: 2020 Credit Card plan (s)

No more cards and work on my CLI for Discover and capital one
Message 107 of 124
RehabbingANDBlabbing
Frequent Contributor

Re: 2020 Credit Card plan (s)

I know what my plans are! 

 

1. Pay down all my remaining credit card balances by February. All of them, except one will be done in January.

2. Continue working on some credit bureau disputes.

3. Obtain AmEx Blue Cash Preferred. I used to have this card and stupidly closed it. I am just waiting for my Experian score to go up after my utilization goes down to less than 5% and I achieve AZEO. The simulator says my Experian FICO should go to 714 once all this is done and reporting, so that should be good enough for BCP.

4. Product change my Cap1 Platinum card to Savor or Quicksilver.

5. Obtain a CLI on my Target card and/or a conversion to the MC.

6. obtain a CLI on my Synchrony Home credit card.

7. Obtain a CLI on my Ollo Mastercard.

8. Hope I continue to get auto CLIs on my Merrick Double Your Line Visa after I get the Double Your Line CLI.

9. Obtain the Wells Fargo Propel card. I am planning this for much later in the year, because BCP is way more important for my spend.

 

Message 108 of 124
ClassicMan
Valued Contributor

Re: 2020 Credit Card plan (s)


@RehabbingANDBlabbing wrote:

I know what my plans are! 

 

1. Pay down all my remaining credit card balances by February. All of them, except one will be done in January.

2. Continue working on some credit bureau disputes.

3. Obtain AmEx Blue Cash Preferred. I used to have this card and stupidly closed it. I am just waiting for my Experian score to go up after my utilization goes down to less than 5% and I achieve AZEO. The simulator says my Experian FICO should go to 714 once all this is done and reporting, so that should be good enough for BCP.

4. Product change my Cap1 Platinum card to Savor or Quicksilver.

5. Obtain a CLI on my Target card and/or a conversion to the MC.

6. obtain a CLI on my Synchrony Home credit card.

7. Obtain a CLI on my Ollo Mastercard.

8. Hope I continue to get auto CLIs on my Merrick Double Your Line Visa after I get the Double Your Line CLI.

9. Obtain the Wells Fargo Propel card. I am planning this for much later in the year, because BCP is way more important for my spend.

 


I hope you acheive all of those goals!

12/18/19




05/27/20





Cards

Authorized User
Message 109 of 124
Traveler101
Frequent Contributor

Re: 2020 Credit Card plan (s)

My 2020 plans is to finnish paying off cc debt. Had just over 14k owed at the begginning this year due to ailing folks. Im now down to 3900. That should be cakewalk.

Increase my limit to 50k from 31k on my navy plat.

Apply for more rewards, navy, and get it to 25k, ideal for daily driver. It will take some time, but I have the confidence.

Hopefully some more sp love from cap1, and penfed. Not sure if barclays will send any my way. It would be nice, but doubtful.

Break the 100k mark on avail cc. That way under 10% isnt going to kill my score.

Build my score up. Its climbing faster now. Would like to sit comfortably above 740. I have some now in the 700 range.

Message 110 of 124
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