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.
I understand exactly how you feel! And nope, not silly at all. Kudos to you for sticking to your goal.
My 2020 goals are:
1. No new credit applications
2. Stay in the garden another year
3. 0 inquiries
4. Earn my Diamond spade Dec 2020
Like AJC, I was thinking about dumping $25 redemption card (CitiDC), but I'll hang on now since cash can be converted to points and redemmed for less than $25.
Like Remedios, I don't see a reason for additional credit at this moment in time. I'm comfortable where I am and glad the itch is nonexistent.
End of May I plan on upgrading from Bce to Bcp. In November I plan on apping for the chase amazon Visa. I did the math, and even with the 5% at whole foods, and the 5% grocery quarter on disco, and the Target Redcard the bcp still works out for me.
even with all that spending, still managed to save 20% of my income.
The last quarter of 2019 increased my utilz significantly more than I'm comfortable with. So, the first quarter of 2020 will be used to bring that back into the green. I'm currently gardening for as long as I can stand it. Just growing and waiting for inq's to drop and watching the last nasty age into oblivion. I may pull the trigger on Disco Chrome and/or USB Cash+ later spring or summer. And, if you truly are giving up Hulk Smashing with Disco, AJC- fear not, I will pick up the weight. Time to pay down...
I'd most like to not apply for anything. I've acquired a fair number of cards over the last few years since I've really been focused on my credit. Frankly, more cards than I can make use of. Few too many wasted or unnecessary apps. Would ideally like to trim a little actually, as a means of simplifying things. At this point I think I'm ready to just use my credit, instead of obsessively micromanaging it, or chasing that extra half a percent somewhere else.
I'm waiting until my 2 out of 3 recent INQ age to over a year at the end of April/beginning of May and taking a shot at the CSR for a big trip I'd like to take next Sept. *crosses fingers*
2020 might introduce some different types of offerings we've never seen before.
I'm hoping you're right, but I kind of feel like things have peaked. More and more people are juggling cards for specific categories, which makes it more costly for issuers to offer bonus rewards. That plus there's only so much you can give out in rewards before it becomes a losing proposition. There's still plenty of people out there paying interest, but there's also many users who are simply getting rewards and not paying any fees or interest. All the competition in recent years had issuers rushing to come out with competitive products. I do think in general in 2019 it kind of slowed down. The Apple Card came along, for example, but really is just a fairly average cash back card (1/2/3% like many other cards out there) with Apple integrated features.
We will see what 2020 holds. I don't plan on apping, really, unless something comes along that really eclipses my current cards.
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!
Lol, here ya go @financialfreedom777 to a 2020 with some success, better health, and please oh please, no Hurricanes!