@Aim_High wrote:
@wingennis wrote:@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.
I like that yearning for simplicity, @wingennis. I've wrestled with defining how many cards I would like to carry for the long term. Oddly, I don't remember your participation in a few threads on this topic so I'd like to see your lineup and thoughts, especially since you don't post your siggy. If you have time to contribute, I started two topics in Smorgasbord (for either paring down to One Card or Two Cards.) Plus, there were recent related theads on a Minimalist Cash Back Lineup, "Off with their Heads" (paring down), and "What is too many cards?" I toyed with the idea of simplifying down to three premium cards, but that's just too extreme for me, I think!
Replied to "off with their heads" just for you. Post ended up being so long, it broke the whole page
@JNA1 wrote:
I added 5 cards in December '19 for myself and 2 for DW. This year, I only got 2 cards for myself ( and 1 for my side business) and DW picked up 4.
My 2021 plan for is to pick up grow our current cards, selectively app for a few of our goal cards to maximize cash back. My eventual goal is to earn as much 5% CB as I can through the year, and backfill with my cards with 3 and 4% on everything else. The Cash + (or Elan equivalent), the Freedom Flex, and the Synovus Travel card are all 5% cards in categories we'll use, and I was thinking of getting the NFCU Plat for a low APR in case we need it. After these, I really can't any other cards I really want or need, besides maybe a 0% intro card for an extended or a big SUB card down the line (meaning a year of more after I got our goal cards).
We met and exceeded our goals for 2021 on getting 5% cards on everything except getting the Chase Freedom Flex. Adding the Synovus cards filled the hole left by PNC neutering our ClearPoints cards.
For the year we added:
(3) Elan Max Cash Preferred (5% selectable)
Synovus Travel Rewards (5% Travel, 3% select)
Affinity Cash Rewards (5% Rotating)
Citi Custom Cash (5% Dining)
Lowe's Advantage Card (5% at Lowe's)
Synovus Rewards (3% selectable)
I also PC'd my NFCU More Rewards card to the Platinum card @ 5.99% and DW PC'd her cashRewards card to the Platinum as well @ 8.99%. She'll ask for a rate reduction in a few months when she's eligible.
Our goals for 2022 is to grow current cards, and I'm going to garden until August to get 4/24 to have a shot at getting the Freedom Flex. DW may pick up another Custom Cash as 5% hole filler, but unless something new and exciting comes along, next year is going to be a gardening year to get some age on these new accounts.
I'm pleased with how my financial picture has improved and with the two new 2% CB cards I recently received, I'll go into 2022 with a solid 3-5 card cash back stable. Somewhere around August or September (an inquiry will be dropping off) I may look into the U.S. Bank products. They are local to me and I'm continuing to hear good things. I'll also be coming up on the end of my Amex BCP 1 year fee waiver so will have to evaluate if I'll want to downgrade.
