Setting Your >2023< Card Strategy

[Zoostation1]

My goals for 2023 will be:

• Continue the rebuild with always PIF (AZEO when reasonable to do so)
• CLI for SavorOne (aiming for April/May 2023 to request since it's a new card for me)
• CLI for Discover (will give it more spend after giving the SavorOne a run first)
• Add one more CC (mid-late spring if not later) then back to the garden.  Looking at the following options (some may or may not be available given my profile)
  • Amex BCP.  This would have to be sometime after late march when I hit the 5yr1mo threshold.  I know if approved I'll get the low $1k limit. That being said I've done the math based on my spend and when you tally up th 6% grocery (I won't max it but still make ample use), 6% streaming, 3% transit (I tend to take a lot of uber and lyft rather than driving when I go out), 3% gas more than make up the $95 AF versus what I would earn with BCE.  This would likely be my first choice even though it won't help me pad utilization
  • Wells Fargo Autograph (don't know how friendly they are to the kind of profile I have or will have).  Another alternative for getting 3% on gas and transit.  I don't travel all that much but maybe the occasional flight would go on this one instead of Venture One.
  • Bread Financial AMEX - 2% card option that could be a catch all for whatever isn't covered by my other cards and they seem reasonably open to rebuilders.  DPs of people who have similar or less time since discharge getting a decent SL.
  • Mercury 2% - probably at the bottom of this list.  Nothing inherently bad to say about this card but may tend to have lower top end CLs and I already have two MC.  Would prefer my next card be a Visa or Amex to diversify.
• Possibly look to PC Venture One to QS 6 months+ from now.  This would really be dependent on what card I open.  If I were to get a 2% card I may not PC it, but if i got something like BCP I'd more likely consider trying to go to QS as a backup catch all.

Edit:  Forgot about this post until someone kudoed in the last couple of days. 5 months later I didn't quite stick to my gardening plan. Realized the 5yr1mo rule was from filing not discharge and got the BCP with a surpise $5k limit.  Still working on the SavorOne CLI and will likely try for it next month.  Also wasn't planning on it but asked Discover a couple of CLIs in Dec and Feb.  Both got denied for insufficient experience with curent CL.

[jaybird14]

This coming year is probably a mix of:

• Paying down balances, developing better habits, and taking my profile from "good" to "great" and
• If I'm ready, getting some goal cards and maximizing the SUBs so I can treat myself.

I think my portfolio next year will see only a few additions:

• CFF, either close to when the $200 + grocery bonus is up OR when my CFU +1.5% back bonus is up
• Some sort of Sapphire (± Venture X) depending on my situation:
  • CSP sooner (ideally with a higher SUB) + Venture X later (if travel starts to pick up with work and if I feel my chances are good by that time) or
  • CSR sooner (if  I feel that my chances are good sooner)

Might ask y'all about the Sapphire/Venture approach in a coming thread.

[Anonymous]

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@Anonymous wrote:

Regardless of my app outcome next wk for Bilt and Aviator(can no longer wait), probably will app 1 more card after Jan. Ex inquiries(about 10, 1 yr) fall off. And that's it, no more cards.

I need no FTF Visa, probably Boa travel or PenFed?

Probably will close Synchrony and Tomo

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Got Bilt so will use it for rent and car rental, plus dining(3x): so no use for C1 S1 except for 3% grocery.

After getting denied for Barclays yet again(this time Hawaiian), soured on airline card. Think I'll use Bilt for that too.

Hope I can pc Citi DC to CC after bt intro period ends, and that means getting another 2% card in PenFed Power Cash(enticement of BA Travel: Museum More on Us program!)? If I get it really no need for Tomo(still, thank u for SP approval)

My bank has launched Urewards for my current debit card, surprisingly I had $87 cashback when I joined lol so cashed it in! 

Ideally would like more Rewards cards like Citi Rewards+ and WF Autograph at the end of the year, but...lol. Well I did wait 8 months for app this time at least!

USB Cash+ seems so far away lol. Not even thinking about Chase, SDing CFF now except for Starbucks(Paypal), and I splurged on it too much this month 😅

[Jeffster1]

For 2023, I'll probably apply for the Amex Marriott Bonvoy Bevy. I haven't thought any further, but, more than likely, I will focus on CLIs.

[Yasselife]

My goal for 2023 is to garden hoping to get in the door with US Bank.

[UncleB]

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@cws-21 wrote:

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@UncleB wrote:

Nearly every purchase I make now is at either 3%, 4.5%, or 5% cash back (with Citi DC playing clean-up for the stragglers at 2.2%) so there's not much left to maximize.

I might pull the trigger on the AAA Daily Advantage Visa if someone confirms that it earns 5% back at Walmart, otherwise I'm probably done for a while. 

I admit I had my eye on a few others earlier this year (i.e. NFCU More Rewards Amex) but I have a finite amount to spend each month, and truthfully I'm to the point of saturation already so there's not much use in adding a new card unless there's an attractive sign-up bonus.

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@UncleB., what interests/interested you about the More Rewards given you have "Nearly every purchase I make now is at either 3%, 4.5%, or 5% cash back (with Citi DC playing clean-up for the stragglers at 2.2%) so there's not much left to maximize?" Just curious.

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It's a third-party Amex.  Those can be useful for Amex offers, especially the really good ones like the 'Shop Small' offers that used to come around each year. 

I got the USAA Cash Rewards Amex back in the spring, though, and that along with my WF Propel and Serve have me mostly content for the foreseeable future (unless something comes along with a nice bonus, of course).

[CreditCuriosity]

My plan is to really have no plan.  Obviously not go into debt at all and if a card looks appealing and I think I have a chance of obtaining it then go for it.  Currently have over 30 cards that is after trimming alot of cards 10+ so got every cat covered then some.  Likely cancel a few AF cards since obtained the bonus or PC them in about 9 months and stuff like that.  Just have fun responsibility.

[tcbofade]

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@crystal626 wrote:

I converted my Cash+ to Go so I don't really have to make any other changes. All my spend is pretty sufficiently covered and really I could do with closing some of my cards (I'm up to 23 I think) but I probably won't because I just can't bring myself to do it.

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^  This.

I've got all of my spend covered, and insane amounts of available credit that I'll never use... but I struggle to close the unused accounts.  They do provide utilization padding, and on occasion, the unexpected zero percent balance transfer offer shows up.

DW and I have a lot of credit card debt, but we're not paying interest on it... we continue to do the balance transfer shuffle as needed.  Using existing cards when possible, or opening new accounts as needed... which certainly means that some of our older, unused accounts could be closed, but I can't bring myself to do it either.

[SaintMortichai]

TLDR: continue paying down balances, garden until I can't stand it anymore, eventually apply for the Synovus Cash Rewards Visa, garden until I'm eligible for the Citi Custom Cash, obtain first business credit card, SP CLIs, hopefully go on vacation more to justify keeping my CSP.

For 2023, I will continue to pay my cards down, try to spend less (was difficult to do that with DW being furloughed then ill for the summer. Working on paying down cards with the highest interest, then the expiring 0% APR cards in spring. I had quite the application run this year: approved for 9 cards in 12 months. Needless to say, I must garden for now. I truly want the Citi Custom Cash and the Synovus Cash Rewards Visa next year. But if I have to wait, I will be fine with the many cards I do have right now. I am pleased to finally have my foot in the door with AmEx.

I intend on asking for SP CLIs as I continue to pay credit cards down. I eventually want to get my first ever business credit card, but if I have to wait, I will. I also intend on applying for my next card on the 17th of whatever month I choose to come out of the garden (no earlier than March, but I believe I'll stay gardening until a year from my last application, which was in September). The reason I choose the 17th is because my last two cards were approved a month from each other, so they age up simultaneously. I want to keep the cycle going, not to mention 17 is my favorite number, so there's that.

I've thought about downgrading my CSP to an original Freedom Visa, but I have a feeling I'll be traveling more next year, so I'll keep it in place, for now.

[Anonymous]

Wait for the AOD to nerf so I can feel less bad about the USAlliance losing the 3% in 2023.   Yes, not exactly a classic strategy, but could provide some satisfaction (if it happens)