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2020 Credit Card plan (s)

CreditMaven1
Contributor

Re: 2020 Credit Card plan (s)

My 2020 Card Plan:

1) analyze AF cards and either cancel or PC. Planning to PC my hilton surpass to aspire ($1100 in card perks every year vs $450 AF), likely canceling my CSR ($300 perks vs $525 AF including $75 AU fee) or pc down to sapphire preferred? If cancelling card would transfer CL to my chase Southwest (card is in SD and keep it for the $225 in annual SWA perks vs $149 AF)

2) Continue to ask SP cards for LUV every six months (amex, citi, discover).

Otherwise no plans.
Credit Score - 810+, Gardening , TCL - $367k, Largest CL - $96k (Chase Southwest Priority), Oldest Card - 28 years (Amex).
Message 31 of 124
coreyb80
Valued Contributor

Re: 2020 Credit Card plan (s)

2020 will be my last full year inside of my Chapter 13 so I'm definitely excited about that.  2020 I will focus on letting my few cards that I have grow and praying that my NFCU Secured card graduates next week as I would use that card exclusively.  Outside of that, I'm in the garden until Oct/Nov 2021 unless I decide to move forward with a condo purchase the 2nd half of 2020.  I'm wishing everyone much success in 2020 with whatever you may touch.  

Message 32 of 124
CreditInspired
Super Contributor

Re: 2020 Credit Card plan (s)

@coreyb80 Kudos on your plan to garden 'til 2021. Think about confirming it with a seedling? I love seeing my spades change colors as my time in the garden increases; and it has made me stay put and focused on my goal. 


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| 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 ||
Message 33 of 124
coreyb80
Valued Contributor

Re: 2020 Credit Card plan (s)


@CreditInspired wrote:

@coreyb80 Kudos on your plan to garden 'til 2021. Think about confirming it with a seedling? I love seeing my spades change colors as my time in the garden increases; and it has made me stay put and focused on my goal. 


Thanks for the idea.  Now I gotta figure out how to do it on here and watch it grow.

Message 34 of 124
CreditInspired
Super Contributor

Re: 2020 Credit Card plan (s)


@coreyb80 wrote:

@CreditInspired wrote:

@coreyb80 Kudos on your plan to garden 'til 2021. Think about confirming it with a seedling? I love seeing my spades change colors as my time in the garden increases; and it has made me stay put and focused on my goal. 


Thanks for the idea.  Now I gotta figure out how to do it on here and watch it grow.


I even forgot how to do it--shame on me 😂🤣😆. So I'm calling on @Saeren or  @AverageJoesCredit for backup. 


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| 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 ||
Message 35 of 124
Peazmom
Frequent Contributor

Re: 2020 Credit Card plan (s)

I’m entering 2020 with 3 clean credit reports for the first time in recent memory.  My credit card goal for this year is to review the cards that I picked up in my April 2019 spree...some will not survive their second year, as I want to streamline.  

In my excitement to add prime cards, I rushed in to a card or two that really have no relevance to my spend.  In the second half of the year I am looking to pick up AMEX BCP, but otherwise sit tight and let my surviving cards grow.

Starting FICO 8 December 2017

FICO 8 as of 6/7/20



Sock Drawer:

Message 36 of 124
coreyb80
Valued Contributor

Re: 2020 Credit Card plan (s)


@CreditInspired wrote:

@coreyb80 wrote:

@CreditInspired wrote:

@coreyb80 Kudos on your plan to garden 'til 2021. Think about confirming it with a seedling? I love seeing my spades change colors as my time in the garden increases; and it has made me stay put and focused on my goal. 


Thanks for the idea.  Now I gotta figure out how to do it on here and watch it grow.


I even forgot how to do it--shame on me 😂🤣😆. So I'm calling on @Saeren or  @AverageJoesCredit for backup. 


Haha!! I had to google the instructions and got it.  Thanks for the help!

Message 37 of 124
odd_dog
Valued Contributor

Re: 2020 Credit Card plan (s)

I totally feel you AJC.....did the same myself this last year....wanted cash back only and kept a few for "status" with airlines and hotels, to that end I PC'd Hilton Aspire to plain Hilton, got rid of Amex Platinum, $550 was getting crazy for me...AA citi Exec....PC to AA platinum, saved even mo money....then on to the cash redemption, kept PPMC because well .01 redemption, ousted Marvel, Citi DC, Amex schwab investor, and dumped a lot of business cards as we only need two for the home business....It does feel WAY better to have less and watch over less. Being super secret double Platinum member with BoA or whatever they call it when you have an S load of money in Merrill has worked out WONDERFUL for me cash back wise...loving all the BOA cards I have.....ENJOY the new year my friend and have a FANTASTIC 2020!!!  P.S. this just reminded me to change my signature, as half these cards are gone!  LOL

Message 38 of 124
Grind2Greater
Established Member

Re: 2020 Credit Card plan (s)

My goals for 2020

1. Pay off two 0% promo balances (Care Credit and NFCU) about 10K

2. No New Accts (been very busy in 2018-2019)

3. Garden til June 2021

4. Grow current limits specifically with AMEX, NFCU, Disco, Nordys VISA

5. Prune Accts, about 3-4 that don't need or use

6. Grow at least two ranks in MyFico Forum

7. Grow FICO scores to 760 by Dec 2020

8. Condition to Capture Goal cards  CSP and Citi Costco (2021)

 

 

 





Starting Score: 657
Current Score: 727
Goal Score: 760


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Message 39 of 124
recoveringfrombk7
Established Contributor

Re: 2020 Credit Card plan (s)

I'm in the garden until January 2021 when I hope to buy a new car. I think I'm in really good shape to go through my CU. I checked CapOne prequal just to get an idea of where I stand and they had me below 5% for a recent used vehicle. Currently stashing cash from my paycheck every month hoping to reach 10k before next January.

I also overdid my cards coming back from bankruptcy in in 2018. Really proud to be at 700+ for 2/3 Fico8s. I'm guessing with the 12 late accounts on my file I'm closing in on the best I'll be able to do until the 7 year mark. Really what I need most now is to app for nothing and let time pass me by.

My longterm goals:
1) Obtain a Visa rewards with my CU to replace the QS (almost got it this year, but the inqs spooked UW)
2) Cancel Merrick, Ollo, Capital One Secured, Capital One QS
3) Have my Discover graduate so I can merge it with my unsecured Discover, then apply for a new Discover for CBM again
4) Apply for AMEX in January 2023 and be at or super close to 0/24 x3 when I do it!

Ideally I want to have 4 credit cards besides my Target store card and my Gas card. 1 each of Discover, AMEX, Visa, and MC.








Message 40 of 124
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