Re: Setting your *2022* Card Strategy

wingennis · ‎11-14-2021

@BearsCubsOtters , I'm with you. I don't know if it is because the last 1.5 years has changed so much so drastically but my tolerance for overly complex things has hit rock bottom. I don't want to chase every point and dollar and juggle the number of cards it takes to maximize rewards on every category. I want simple and I want my credit to work for me instead of the other way around.

I've got a strong portfolio of keeper cards at or near max credit limits for my profile (Penfed at 50k and such). I'm not applying for anything in 2022 and any single purpose cards I have at the end of the year are getting closed along with the spreadsheet I have to keep to manage them all. I'd really like to get my 14 cards down to 3-5 for simplicity.

wingennis · ‎11-14-2021

@Remedios wrote:
@Aim_High thanks!

Strategy, well I don't have one. I know what I need, so I guess I can call that a strategy. I will be applying for CFF on December 1st lol.
This is the first time I've fell bellow CHUNKY/24 in four years, I've gotten to 0/12, but that was always followed by an app or two, so yay me!

I'm pretty much at Chase's mercy when it comes to CFF, and that's fine. If they say no, I'll see what the letter says and try again later.
Other than that, I really have no need for cards. It's not a grandiose plan but it's the only one I have.

Grandiose apps were for pre-Covid normal. New normal=no unnecessary stress?

simplynoir · ‎11-14-2021

Like a few of you already said I don't really *need* any cards at this point. Main goal was not to app really because of mortgage but I had the Connect app not too long ago and she got three cards just months before closing and bank didn't flinch at all. 😂 Goal of buying a house is complete and now the task of furnishing it comes up as we finish getting all the stuff turned on

From here it's basically about what gets my interest. Might get a card or two to take advantage of upcoming spend but leaning towards not doing anything. Other than Custom Cash nothing is speaking out to me. Was gonna get Schwab Plat but going to use my points for travel after all, BofA's new premium card might require wealth check and nothing else comes to mind right now

Basically, I don't have a plan at all and just going to see how it goes

Of course that can change on a whim since the urge to app can be real lol

Remedios · ‎11-14-2021

@wingennis wrote:
@Remedios wrote:
@Aim_High thanks!

Strategy, well I don't have one. I know what I need, so I guess I can call that a strategy. I will be applying for CFF on December 1st lol.
This is the first time I've fell bellow CHUNKY/24 in four years, I've gotten to 0/12, but that was always followed by an app or two, so yay me!

I'm pretty much at Chase's mercy when it comes to CFF, and that's fine. If they say no, I'll see what the letter says and try again later.
Other than that, I really have no need for cards. It's not a grandiose plan but it's the only one I have.
Grandiose apps were for pre-Covid normal. New normal=no unnecessary stress?

I don't have a business, so my normal expenses do not really fluctuate from month to month (I'd say it's within +/- 25%) other than months when tutition, taxes, and *what are we getting for Xmas* happens.

That has created an interesting conundrum, finite amount of money to be spent, increasing number of cards.

I'm not "maximizing" rewards like some do. For large purchases, sure. If I'm buying a coffee, whichever card puts the least resistance when coming out of the wallet wins and I'm okay with that.

If mobile wallet can be used, it's going to be AR. So, anything other than CFF at this point is just so extra.

If something new shows up that I can use, I'll certainly consider it, but for right now, any new app and even CLI requests would be plain excessive.

simplynoir · ‎11-14-2021

@Remedios wrote:
@wingennis wrote:
@Remedios wrote:
@Aim_High thanks!

Strategy, well I don't have one. I know what I need, so I guess I can call that a strategy. I will be applying for CFF on December 1st lol.
This is the first time I've fell bellow CHUKY/24 in four years, I've gotten to 0/12, but that was always followed by an app or two, so yay me!

I'm pretty much at Chase's mercy when it comes to CFF, and that's fine. If they say no, I'll see what the letter says and try again later.
Other than that, I really have no need for cards. It's not a grandiose plan but it's the only one I have.
Grandiose apps were for pre-Covid normal. New normal=no unnecessary stress?
I don't have a business, so my normal expenses do not really fluctuate from month to month (I'd say it's within +/- 25%) other than months when tutition, taxes, and *what are we getting for Xmas* happens.
That has created an interesting conundrum, finite amount of money to be spent, increasing number of cards.
I'm not "maximizing" rewards like some do. For large purchases, sure. If I'm buying a coffee, whichever card puts the least resistance when coming out of the wallet wins and I'm okay with that.
If mobile wallet can be used, it's going to be AR. So, anything other than CFF at this point is just so extra.
If something new shows up that I can use, I'll certainly consider it, but for right now, any new app and even CLI requests would be plain excessive.

You actually brought up a good point regarding business spend that I'll throw out there real quick

It was a hassle but think I finally found a spending strategy finally that can withstand any changes in the market. AMEX is not happy since most of it is going to other cards but the math didn't check with them anymore. To keep it easy it's basically Altitude Reserve (if mobile is allowed) or BofA Premium Rewards for non-category spend. Keeps it clean and with them having their own cards makes it smoother when tax time comes

One day I'll make that my personal spend strategy

NoMoreE46 · ‎11-14-2021

I *will garden for all of 2022.

That is my plan anyway.

SoCalGardener · ‎11-14-2021

@Aim_High wrote:

Tomorrow, we'll be in the last 45 days of 2021.
As it draws to a close, what are your credit goals for 2022?

Hmmmm.... I guess I really don't have any specific credit goals for 2022, at least nothing I've thought about consciously. I'd like to keep increasing my TCL, but other than that I don't know.

Rather than thinking in terms of *adding* credit, I'm leaning more toward *decreasing* the number of cards I have. Frankly, it's just more hassle than it's worth to juggle 15 cards, and I'm thinking of paring that number down. But closing a card voluntarily? That's not something I ever thought I'd do! So we'll see...

American Express Blue Cash Preferred Card

difringe · ‎11-14-2021

@SoCalGardener wrote:
@Aim_High wrote:

Tomorrow, we'll be in the last 45 days of 2021.
As it draws to a close, what are your credit goals for 2022?
Hmmmm.... I guess I really don't have any specific credit goals for 2022, at least nothing I've thought about consciously. I'd like to keep increasing my TCL, but other than that I don't know.

Rather than thinking in terms of *adding* credit, I'm leaning more toward *decreasing* the number of cards I have. Frankly, it's just more hassle than it's worth to juggle 15 cards, and I'm thinking of paring that number down. But closing a card voluntarily? That's not something I ever thought I'd do! So we'll see...

Yea, that's the part of lender diversity that they don't tell you about lol. I plan on having 13 total cards midway through 2022, and by the end of the year, I'll likely only be using 4 of them.

Maybe I'll PC my CashRewards to a Platinum and combine the two cards when my Platinum reaches 1 year. I'll probably keep the Chase lineup basically as is, the Truist card is basically gonna be there for padding, maybe I'll just close it so I don't have to think about it. Fortunately, a decent number of the cards that I have should have balance transfer offers at some point, so they'll have some use later.

CreditMarathoner · ‎11-14-2021

I have no specific card strategy for 2022. I have all the cards I need now, so no more apps. My most recent app (CSP) was 10/1, so I need to let that age a while.

The only thing I may do, depending on what interest rates do, is refi the house mid-year or so. And maybe shuffle/reallocate some of my Chase limits around.

Open Tradelines: 4 Revolvers, 1 Mortgage / Garden Start Date: 10/1/2021 / Garden Goal: don't have one right now
TCL: $26,500 / AAoA: 8y6m / AoYA: 1y5m / Inqs: 1EX 0TU 1EQ / FICO8 Feb 2023: 848(TU) 843(EX)

Jordan23ww · ‎11-14-2021

@CreditAggie wrote:
After the adventurous 2021 I had building up my current base of cards, I plan to garden for most of the year and then build my Navy and PenFed relationships and apply for cards with each of them. I also plan to continue asking for SP CLIs on my existing cards where available although I have stopped asking for CLIs on cards that have reached five figures as I currently don't need more than that on a particular card considering my current income level and spending patterns (sorry for those of you wondering if I can grow my Apple Card past $12K).

@CreditAggie Great plan! I was one of the forum members secretly wishing for you to reach 20k plus on your Apple Card!😄😂🤣😂 https://images.app.goo.gl/GUpEz6xgNP8kZp4V8

Setting your 2022 Card Strategy