Setting your *2022* Card Strategy

[xenon3030]

The plan is 5% in all purchases, independent of category. If you find GCs with ~10% discount at one store, it will be 15%.

Target had a prior breach several years ago and some users, including me, may not feel comfortable to apply for that card.

[hairluver]

My main goal is to continue to pay down my utilization. ( Currently at 43%)

Going to continue for Sp CLI on my Amex.   I'll be getting a new car as well as apping for the Marriott Bonvoy next year.  

I'll be moving my cl from my Chase slate to my Sw and then closing that card. As well as closing my Cap 1's, and possibly my Discover.

I'll rotate my daily drivers between my 4 travel cards.

After that I'll be gardening until it's time for a mortgage.

The Marriott Bonvoy will be the last card I get. I'm only interested in travel cards between the 3 I have plus that one assuming my cli increases I'll have everything I need.

[SPChaser]

Love the thread @Aim_High ! My central credit goal for 2022, will be AOD CLI with 25K CL. For that, I won't be applying for any new credit til I've hit my year mark with AOD, which will be in May. I attempted the CLI even though DPs pointed towards this being a waste of time after only 6 months, yet I was hoping to be the exception - I wasn't . So with that, I'll continute to utilize it as my second/third driver and not carrying a balance. Hopefully, when it's my second time at bat, I hit a home run. 

[FireMedic1]

Try AMEX card again. Waited my time after BK. Applied 6 months ago. Denied for too many new checking accounts. My only denial after BK. Moved from SunTrust to NFCU 1 year ago. Weak denial.

[cws-21]

I was recently approved for the AOD Visa Signature and Affinity Cash Rewards cards so I am very happy with my current cash back setup provided below. Honestly, I do not see myself applying for another card for the foreseeable future unless something new and intriguing catches my eye. I could see myself closing a couple of cards that have been replaced by the AOD (Citi DC) and Affinity (Chase Amazon Visa) in my lineup. I would consider product changing my Propel if Wells Fargo comes up with something more interesting in 2022 as long as it has cellphone protection. Lastly, I will continue trying to grow my current credit limits.

1. American Express Blue Cash Preferred ($42,900 at 12.99%): mostly 6% cash back on groceries, but also Amex Offers
2. Citi Custom Cash Card ($10,800 at 13.99%): mostly 5% cash back on dining, but also on groceries, to complement BCP, or gas, if ever my Ducks Unlimited goes away
3. First Bankcard Ducks Unlimited Rewards Visa Card ($25,000 at 19.99%): mostly 5% cash back on gas (inside convenience stores and at the pump, but also 5% cash back on sporting goods
4. Target RedCard Credit Card ($2,200 at 22.90%): 5% cash back at Target and, hopefully, no foreign transaction fee Mastercard in the future if converted
5. Affinity FCU Cash Rewards Visa Signature Credit Card ($21,800 at 12.50%): 5% cash back at Amazon and bookstores, Hi5 rotating categories, and no foreign transaction Visa
6. Wells Fargo Propel Amex Card ($25,000 at 16.99%): mostly cellphone protection, but also 3% cash back on transit and travel as well as Amex Offers and Wells Fargo Deals
7. AOD FCU Visa Signature Credit Card ($10,000 at 7.49%): 3% cash back on everything else and no foreign transaction Visa

[ptatohed]

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@cws-21 wrote:

I was recently approved for the AOD Visa Signature and Affinity Cash Rewards cards so I am very happy with my current cash back setup provided below. Honestly, I do not see myself applying for another card for the foreseeable future unless something new and intriguing catches my eye. I could see myself closing a couple of cards that have been replaced by the AOD (Citi DC) and Affinity (Chase Amazon Visa) in my lineup. I would consider product changing my Propel if Wells Fargo comes up with something more interesting in 2022 as long as it has cellphone protection. Lastly, I will continue trying to grow my current credit limits.

1. American Express Blue Cash Preferred ($42,900 at 12.99%): mostly 6% cash back on groceries, but also Amex Offers
2. Citi Custom Cash Card ($10,800 at 13.99%): mostly 5% cash back on dining, but also on groceries, to complement BCP, or gas, if ever my Ducks Unlimited goes away
3. First Bankcard Ducks Unlimited Rewards Visa Card ($25,000 at 19.99%): mostly 5% cash back on gas (inside convenience stores and at the pump, but also 5% cash back on sporting goods
4. Target RedCard Credit Card ($2,200 at 22.90%): 5% cash back at Target and, hopefully, no foreign transaction fee Mastercard in the future if converted
5. Affinity FCU Cash Rewards Visa Signature Credit Card ($21,800 at 12.50%): 5% cash back at Amazon and bookstores, Hi5 rotating categories, and no foreign transaction Visa
6. Wells Fargo Propel Amex Card ($25,000 at 16.99%): mostly cellphone protection, but also 3% cash back on transit and travel as well as Amex Offers and Wells Fargo Deals
7. AOD FCU Visa Signature Credit Card ($10,000 at 7.49%): 3% cash back on everything else and no foreign transaction Visa

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That looks like a good plan.  I do wonder why more people don't have 5% rotators in their arsenal.  To me it's a zero brainer but maybe it's a hassle to some?  Anyway, I just wanted to caution you about scrapping something like this Citi DC for the AOD.  Citi is likely (hopefully?) here to stay whereas we can only cross our fingers and hope that the AOD hangs around.  

[Crowhelm]

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@cws-21 wrote:

I was recently approved for the AOD Visa Signature and Affinity Cash Rewards cards so I am very happy with my current cash back setup provided below. Honestly, I do not see myself applying for another card for the foreseeable future unless something new and intriguing catches my eye. I could see myself closing a couple of cards that have been replaced by the AOD (Citi DC) and Affinity (Chase Amazon Visa) in my lineup. I would consider product changing my Propel if Wells Fargo comes up with something more interesting in 2022 as long as it has cellphone protection. Lastly, I will continue trying to grow my current credit limits.

1. American Express Blue Cash Preferred ($42,900 at 12.99%): mostly 6% cash back on groceries, but also Amex Offers
2. Citi Custom Cash Card ($10,800 at 13.99%): mostly 5% cash back on dining, but also on groceries, to complement BCP, or gas, if ever my Ducks Unlimited goes away
3. First Bankcard Ducks Unlimited Rewards Visa Card ($25,000 at 19.99%): mostly 5% cash back on gas (inside convenience stores and at the pump, but also 5% cash back on sporting goods
4. Target RedCard Credit Card ($2,200 at 22.90%): 5% cash back at Target and, hopefully, no foreign transaction fee Mastercard in the future if converted
5. Affinity FCU Cash Rewards Visa Signature Credit Card ($21,800 at 12.50%): 5% cash back at Amazon and bookstores, Hi5 rotating categories, and no foreign transaction Visa
6. Wells Fargo Propel Amex Card ($25,000 at 16.99%): mostly cellphone protection, but also 3% cash back on transit and travel as well as Amex Offers and Wells Fargo Deals
7. AOD FCU Visa Signature Credit Card ($10,000 at 7.49%): 3% cash back on everything else and no foreign transaction Visa

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Nice, congrats on both the Affinity and AOD cards. Hopefully, I have those by the end of 2022 and get rid of my Chase cards. In hindsight I wish I would have gone for the credit union only route. Banks offer low hanging fruits but it comes at a price. Good/great customer service, the one I am used to from credit union does not excist with the big banks. 

[KJinNC]

I am planning to downgrade my Delta Platinum in January. I left it Platinum this year for the $15/month dining credit. I have not decided whether to drop it to Gold, which I have had before, or to Blue, which I have never had. The pros and cons may be obvious, annual fee vs losing out on a possible future SUB. I also do value the free checked bag you still get with Gold, so I'll probably do that.

I am seriously thinking about closing my Discover. It is my oldest surviving card (not all that old, though, May 2019) and is stuck at $3100 (former secured card). Also, I keep getting hit with fraud with it somehow. I actually switched card numbers, and got a fraud alert the very day I activated the new card. I have kept it mostly frozen now for a month while I ponder what to do, but just closing it might be the simplest solution. I may then open another Discover at some point. I like the card fine, just annoyed by the credit limit and the recurring fraud issues.

I will need to keep watching Amex Platinum to see if I feel like I am getting good value out of it. I am in the CAP program or whatever the new name is, so I get a $150/year statement credit that helps the value. But I'm not sure I foresee traveling that much in 2022, either, so I'm starting to question it. If I did still travel as much as pre-covid, I would not question it. I don't know, I might let it ride. I would not close it but might downgrade it.

I think that's about it. Oh, I plan to get a Chase Amazon Visa at some point. I will be 4/24 in May and 3/24 in June, but based on the other thead, I might give it a shot in February when I will be 8/24 and see what happens. If I do get it, I'll probably close the Sync Amazon Store Card. I am also interested in getting a USAA card for a sense of achievement (?), but can never figure out which of their cards would serve any purpose for me.

The Apple Card provides me very little value, but it doesn't hurt anything, so I may let it ride.
The PayPal card no longer provides unique value since I also have a Citi DC, but it doesn't hurt anything, so I'll probably let it ride.
I am pretty down on NFCU at this point (long story), but my card there doens't hurt anything, so I'll probably let it ride.

[cws-21]

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@ptatohed wrote:

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That looks like a good plan.  I do wonder why more people don't have 5% rotators in their arsenal.  To me it's a zero brainer but maybe it's a hassle to some?  Anyway, I just wanted to caution you about scrapping something like this Citi DC for the AOD.  Citi is likely (hopefully?) here to stay whereas we can only cross our fingers and hope that the AOD hangs around.  

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Actually, I don't really like 5% cards with rotating categories, @ptatohed. I would much rather have cards that yield 5% cash back, or as close as possible, for all four quarters (e.g., Blue Cash Preferred, Custom Cash, Ducks Unlimited, Target, Affinity, etc.). Regarding my Citi DC, you're not wrong. I have thought about keeping it, though it would be relatively easy for me to apply for another 2% card down the road if the need ever arises.

[cws-21]

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@Crowhelm wrote:

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Nice, congrats on both the Affinity and AOD cards. Hopefully, I have those by the end of 2022 and get rid of my Chase cards. In hindsight I wish I would have gone for the credit union only route. Banks offer low hanging fruits but it comes at a price. Good/great customer service, the one I am used to from credit union does not excist with the big banks. 

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Thanks, @Crowhelm. I am sure they will both serve me well. Good luck getting approved for them yourself. As for credit unions, I have never taken full advantage of them, though I respect and appreciate their mission. Having deeper relationships with Affinity and AOD could be another 2022 goal of mine.