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2020 Credit Card plan (s)

Valued Contributor

Re: 2020 Credit Card plan (s)

My plan for the majority of the year is to garden and grow my new accounts. I’m really happy with my current lineup. I’ve opened 5 cards in the last 2 months, so I want to get over the initial hit for opening so many that quickly. We do plan to open a Discover Miles card at the end of next year (or beginning of 2021) to earn 3% cash back for the first year, but I’ll probably do that in DW’s name. I’ll have 4/5/3 inquiries fall off between now and Aug of 2020. Depending on if I can get the 3X CLI on my BCP, I want to see how close I can get to $100K with my current lineup. I feel like I can grow the AMEX and PPMC pretty quickly. Miss Disco seems to hate me, so at this point I have no idea if it can grow or not. I’m not sure how PNC is, but I will be spending quite a bit on it. From what I understand, BBVA will have to wait a year for a CLI. By May of 2021, I’ll be down to 3/1/0 on inquiries, and at that point, I’ll probably go hard after Alliant 2.5% and US Bank Cash +.
My credit card journey started 3/2018

Hover over cards to see limits and usage.
Total CL - $279,950
Cash Back and SUBs earned as of 6/1/21- $6336.35

CU Memberships

Goal Cards:

Message 21 of 124
Regular Contributor

Re: 2020 Credit Card plan (s)

My plans are to keep cleaning up report, two accounts to be clean profile. Get some cli’s. Keep babying navy and get unsecured and get a second unsecured after that. Hopefully get an Amex this year
Discover it miles 9/19 Sl 5000 | Care Credit 9/19 SL 3500 | Cap 1 QS 4/14 AU 500 | Cap 1 QS1 4/14 AU 600 | NFCU Secured 8/19 200 | NFCU CLOC 9/19 500 | NFCU auto 10/19 6.29 66k | NFCU Auto 4.9% 37k
Experian- 702
Equifax- 676
Transunion- 611
Util- 9%
Message 22 of 124
Super Contributor

Re: 2020 Credit Card plan (s)

@iheartwings wrote:

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. 

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K || BOA CashRewards $6K
Message 23 of 124
Super Contributor

Re: 2020 Credit Card plan (s)

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. 

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K || BOA CashRewards $6K
Message 24 of 124
Established Contributor

Re: 2020 Credit Card plan (s)

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. 

Message 25 of 124
Frequent Contributor

Re: 2020 Credit Card plan (s)

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...

9e9 (1).gif

Message 26 of 124
New Contributor

Re: 2020 Credit Card plan (s)

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.

Message 27 of 124
Established Contributor

Re: 2020 Credit Card plan (s)

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*

US Bank Altitude Reserve 18.1k
Chase Freedom Unlimited 18.5k
Chase Freedom 11.7k
American Express Gold NPSL
American Express Bonvoy Brilliant 22.5k
American Express Bonvoy Business 20k
American Express Amazon Business Prime 14k
Barclays Aviator Business 5k
Citi AAdvantage Executive Card 14.1K
Citibusiness AAdvantage 11.9k
Citi Double Cash 15k

Fico 8s as of 09/01/2021:

Message 28 of 124
Super Contributor

Re: 2020 Credit Card plan (s)

@CardNut wrote:

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.

Message 29 of 124
Mega Contributor

Re: 2020 Credit Card plan (s)

@financialfreedom777 wrote:



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!Smiley Wink

Message 30 of 124
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