Setting your *2022* Card Strategy

[difringe]

Sooooooo...I got two more cards in Nov/Dec, so now my 2022 goal is slightly different.  I'm going to try to join First Tech FCU in January, then wait until I see a $400 SUB for a Wells Fargo checking account and open an account with them. If/when S&T offers their $300 SUB for a checking account (after June 2022), I'll join them to get that bonus.

As far as credit cards, since I got the Evergreen card, I don't need a 2% CB card, but I'm still going to go for the Penfed PCR (since I'm an Honors Advantage member) and the NFCU Flagship if they are still providing the Amazon Prime credit.  Outside of that, just going to work on paying down my balance transfers and getting SP CLI on the cards that offer them!

[notmyrealname23]

So my 2022 strategy got a lot clearer with this approval...

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/C1-Savor-One-5k-approval/td-p/6459260

Basically it's going to be "back off the AMEX charge cards". It's probably either the CS Platinum or the AMEX Green (leaning to Green), kill the Gold that is now a Platinum thanks to a killer upgrade offer. Downgrade Delta AMEX Gold to Blue to sit in a sock drawer, keep Marriott Bonvoy Brilliant for second year 25k + free night cert, kill the Sync Cathay card with $95 AF (might just do that right now).

Regular lineup after my AMEX Platinum is finished is:

SavorOne: dining, groceries, streaming, entertainment

AMEX Green: non-rental car travel that doesn't fit elsewhere, airfare, some dining, car share, transit, train

Amazon Sync store card: Amazon

Amex Hilton Aspire/Bonvoy Brilliant: specific hotel spend (nontrivial amount of this in 2022)

VentureX: darn near errything else, including rent
Keep no AF cards I want to keep alive with the pack of gum trick or whatever (sometimes a bonus or other spend will make sense).

Spend 2022 in the garden otherwise because spend is pretty well aligned on cards.

[SPChaser]

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@K-in-Boston wrote:

I think I'll once again consider paring down a few cards in 2022.  I just closed my personal Delta SkyMiles Platinum because I am drowning in unused companion passes since they kept getting extended and the AF didn't make financial sense.  Just months shy of 20 years as a member, that was my very first closed Amex account (I did try to close it in 2020, but got a retention offer that far outweighed the fee - and I did try to close Premier Rewards Gold a few years back but got a great retention offer and then I was glad I didn't close it since that got revamped as the current Gold Card).  As far as Amex goes, I am thinking that I will move the usual $30k or so of spend that goes on Delta Reserve to Business Delta Reserve in 2022 and play retention games or close the personal one when it renews near the end of the year (didn't do it this year because I had other spend offers early in the year and the timing of the MQM bonus at $30k and renewal were too close for comfort).

I am toying with the idea of closing Chase Sapphire Reserve and opening another one later.  It's been nearly 5 years since my last Sapphire SUB, so that would likely make good financial sense.  I'm also considering closing US Bank Altitude Reserve.  Apparently the WiFi passes are going away next year and with most places where I use a credit card in person, I actually have other cards that earn higher than the 4.5% for using mobile payment I get on AR.  Still definitely have some time on that one to decide.

I may once again consider closing a couple of CU cards, although I am not really in a rush to do so.  I planned to close a number of cards this year and ultimately it ended up just being the aforementioned Delta Platinum, Citi Premier, and NFCU More Rewards.  I am almost 2/24 and it's been almost 18 months since I opened my most recent personal credit card; I may try to go for the Marriott Bonvoy Bold with no SUB just so that I can PC it to the Ritz-Carlton card after a year, but unless something with a very enticing SUB comes along, I don't foresee adding anything else in 2022 unless I go for Amex BBP.

My rewards strategy is going to be the same in 2022 as it was in 2021 with only minor changes: Amex Gold for restaurants and grocery (effectively 8.67% back), Amex Platinum for airfare (effectively 10.83% back), Amex Marriott Bonvoy Brilliant for an extra 6x at hotels and Amex Marriott Bonvoy Business for 4x on fuel (fuzzy math with unknown new rewards structure), Synchrony Rakuten Visa for most online shopping (tied to MRs, so effectively a minimum of 8.53% and up to 50% or more (depending on store's earnings that day) back on pretty much everything), then the first $30k of non-category spending on Amex Delta Reserve (business rather than personal this year) using Chase Freedom 5x and US Bank Cash+ 5% categories as well as Amex Offers and store cards (Amazon and Target particularly) where it makes sense.  I may decide to go for the Amex Blue Business Plus (effectively 4.33% back on everything else) as well, because that does seem to fill the sole void I see in my lineup.

ETA: Any changes in the Business Platinum airfare rebate would drastically change my strategy.  Fortunately that doesn't seem to be on the horizon.

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Great reminder point @K-in-Boston about the 4x return for fuel on the Marriott Busniess Bonvoy! I have been juggling so many things with cards lately, I completely forgot about this feature for the Bonvoy Business card. Literally was smh profusely and telling DW how the heck did I forgot this lol. 

[Relatxbles]

Good post to follow! 

[wingennis]

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@Crowhelm wrote:

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@wingennis 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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 I find it annoying.  USB and Citi have 5% that don't rotate.  When I had the USB, if I forgot to choose a new category it would just stay the same until I remembered.  Also, a lot of time the category available that quarter isn't useful or I have another card with a better rate of return.  For example, gas quarter is meaningless for me.  I do have a car but it is very fuel efficient and I only spend $25-$30/month.  Managing 5% rotators for that isn't worth the effort.  Just my 2 cents.

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Citi rotates automatically. That is what makes it a great card, whatever you spend most on is getting 5%, Only negative is that it is just for the first $500

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I don't consider the custom cash a rotator.  There are no fixed categories that rotate on the issuer's schedule.

[Anonymous]

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@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?

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After a crazy year, in which I moved across the country, racked up a ton of rewards (and charges lol) on existing cards but otherwise managing credit pretty smooth (originally planned to buy a house but the market was faster than I could handle 3K miles away with work and everything else), I'll aiming for 3 specific cards: Chase Freedom (which already pre-approved in my account, my Sapphire will be happy lol), JetBlue Plus (I want Mosaic and Mint is great for bi-coastal travel for work/personal), and either the Bonvoy Boundless (Mrs. loves Marriott) or the Cap One Venture X (for all non-JetBlue travel). I'll celebrate paying off (once it all gets reported) all debt I've had this year with a trip with the Mrs, and then its back to keeping my credit in the shape that its in now, which is probably the best its been since I was 18 (decades, I'm in my 40s now lol).

[Anonymous]

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@Anonymous wrote:

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@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?

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After a crazy year, in which I moved across the country, racked up a ton of rewards (and charges lol) on existing cards but otherwise managing credit pretty smooth (originally planned to buy a house but the market was faster than I could handle 3K miles away with work and everything else), I'll aiming for 3 specific cards: Chase Freedom (which already pre-approved in my account, my Sapphire will be happy lol), JetBlue Plus (I want Mosaic and Mint is great for bi-coastal travel for work/personal), and either the Bonvoy Boundless (Mrs. loves Marriott) or the Cap One Venture X (for all non-JetBlue travel). I'll celebrate paying off (once it all gets reported) all debt I've had this year with a trip with the Mrs, and then its back to keeping my credit in the shape that its in now, which is probably the best its been since I was 18 (decades, I'm in my 40s now lol).

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As for my card strategy overall? Sapphire is a card with additional users, so they maximize the category bonuses there. Chase Amazon covers all and we have amassed quite a bit of rewards to spend. Apple Card continues to be great for those one-off equipment purchases needed (last year a gift laptop, this year a replacement for my small biz) Amex Blue Cash for groceries (6% for the first $6,000 is so clutch) Citi ThankYou for restaurants and dining out Target RedCard MC I still use like a store card I've been using my Discover as my gas card, but might need to switch that strat - I think I have a better Gas cash back card in the arsenal ...and I'll rotate cards for other things - most of the rest are my cards on beneficial subscriptions/bills that I autopay.

[Tinkiegrrl]

I'm ADHD and planning is... difficult. Example: I only have 9 months of credit history but I have 4 cards already. I plan not to open anything else until I hit a year of credit history in March. That will mark 6 months after my last account opened. That said, I have my eyes on two cards and I'm not sure which I'll try for first. US Bank Altitude Go because dining is a huge spend category for me, or the Affinity Cash Back Rewards card as Amazon is another big spend category for me, plus the rotating categories will be nice. In my view its a better card then the Amazon Chase card. I'm already a member of the credit union too.

[Yasselife]

@Tinkiegrrl 

you may want to garden one year or have 1hp only in 12mo before applying for USB. 

[TwoStacks]

I have 7 cards:

Chase Freedom (2005), Best Buy (2008), Best Buy Visa (2010), Amex Green (2012), Apple Card (2019), Amex Cash Magnet (2021), Amex Gold (2021). 

I JUST got the Amex Gold, so the green has to go. I'm not paying 2 AF. The Best Buy cards I won't use anymore, because I don't work there anymore. I will let them auto close. I do not plan on getting any more cards for quite a long time, as you see I went 7 years. I can withstand the hit of closing the cards, I'll be fine.