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2020 Credit Card plan (s)


Re: 2020 Credit Card plan (s)

My plan is take a break from new accounts.
I cant even remember the time I wasn't chasing SUBs or trying to meet minimum spend in a month or so.
I have more credit than I'll ever need, so I'm struggling to see the purpose of amassing more, unless there is a really hard to pass SUB.
No plans to close any cards, either. I like having options.
Other than that, just hanging out with you wonderful people
Message 11 of 124
Frequent Contributor

Re: 2020 Credit Card plan (s)

1) pay off the two 0% interest cards on which I'm carrying balances. I'm making payments on both that are equal to the initial balance divided by no-interest months. One will be PIF in July, and the other in December
2) make extra payments on my personal loan, with the intention of paying it off early (in 18 months instead of 24)
3) pay off the one interest-accruing card on which I'm carrying a balance before the end of this year (fortunately, it's at a very low APR - like 4.75 if I remember correctly)
4) cancel a few of the newish cards for which I've found better replacements - currently, that includes Citi Double Cash, Citizens Cash Back Plus, Huntington Voice and the Apple Card. The PenFed Power Cash has replaced everything at 2% or below for non-category spend, so most of these cards are redundant and have been sitting in the sock drawer anyways

EDIT: I'll probably close Fifth Third Trio, AmEx BCE and AmEx Blue Delta, too... AmEx BCP, Hilton Honors and Gold, not to mention Langley Cash Back and WF Propel, are more than enough to cover groceries, gas, dining and travel!
Message 12 of 124
Valued Contributor

Re: 2020 Credit Card plan (s)

I've been sitting in front of my computer trying to figure out what I need to do with my credit, if anything, in 2020. 

I really don't have much in the way of needing more credit, though I am quite tempted by the USB Altitude Reserve, namely for the 1.5 cpp on travel reimbursements...

...but, this temptation is tempered by the fact that I'll celebrate one year in the garden in January, and 2/3 my FICO8 and 9 are 850. Call me silly, but I don't want ruin that by getting another card. 🤷🏻‍♀️


Otherwise, I'm going to work on rotating some lesser used cards more. 

Message 13 of 124
Not applicable

Re: 2020 Credit Card plan (s)

No new plans here, just continuing my gardening and saving, and continue recovering from the separation and the associated damage.  If I stick to my goal, I won't app for anything new until late 2021 or 2022.

Message 14 of 124
Valued Contributor

Re: 2020 Credit Card plan (s)

I have a few goals for 2020.

1. Pay off 0% deals that I have
2. Obtain US Bank Altitude Reserve
3. PC Venture to VentureOne
4. Get at least 1 card with NFCU

Message 15 of 124
Senior Contributor

Re: 2020 Credit Card plan (s)

My 2020 Credit Plan is to pick up the Amex Delta Platinum with 75k SUB before the AF increase on Jan 30th and the Amex BBP then lay low and garden after that! Smiley Very Happy

Message 16 of 124
Valued Contributor

Re: 2020 Credit Card plan (s)

No plans to change anything. Keep the 9 cards I have. I would expect some new offerings in 2020, and if something new looks like it would work great for me, I might go for it. But 9 cards pretty much covers everything. I can't really spread out any more spending any thinner, so its going to have to be a really good offering. 2020 might introduce some different types of offerings we've never seen before. 

Scores, HPs/24 mos. (updated 01/13/21):
    Experian FICO Score 8 = 828, 1/24
    Experian FICO Score 9 = 813, 1/24
   TransUnion = 811, 1/24
    Equifax = 813, 0/24

Total 2020 rewards, incl. offers/deals = $1,388.00

Total CL: $247,000

Cards (hover over for CL | interest rate | Date Opened):
Message 17 of 124
Regular Contributor

Re: 2020 Credit Card plan (s)

Hysterical username, you took my first choice it seems, lol!

Good luck on the 2020/2021 goal!
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 18 of 124
Regular Contributor

Re: 2020 Credit Card plan (s)

My plans for 2020 in regards to credit cards are as follows


-Pay off the bill I have for having several trees removed from my property as well as a few miscellianous home repairs that totalled $2,000.00 which I put on my Chase Freedom using the introductary 0% apr on purchases.  I have $650 left on that and it will be paid off in January long before the 0% apr deal expires.


-Down grade my Everyday Preferred card back to an everyday card.  The bonus was nice but it's redunant for me to keep the preferred version considering I hardly ever do grocery shopping at grocery stores and I have the double cash for general spend and the Sam's Club mastercard for 5% cashback on gas.  The EDP is a fine card it's just redunant with my credit card setup now and me not spending hardly anything at grocery stores. 


-Wait till August before apping for anymore credit cards to let a bunch of inquires fall off my credit report. Currently have TU 4, EQ 6 and EX 8 but by August it will be TU 1, EQ 1 and EX 3.       


-Apply for the Amtrak Guest Rewards World Mastercard


-Apply for the Wells Fargo Propel card


-Maybe apply for the blue business plus card.  



Those are the current plans but they are always subject to change.  

Message 19 of 124
Mega Contributor

Re: 2020 Credit Card plan (s)

I  have no plans for more cards, (unless the next Big Shiny Card appears on MyFico and others).    I may downgrade my CSR (hopefully to a Freedom) if I use up my collection of URs early enough.

Message 20 of 124
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