Welp my 2022 strategy really fell apart...
So I left the garden first by applying for a new loan to buy a truck earlier this year.
Then I didn't close the account I said I was going to (CapOne QS) but instead closed my Chase Amazon Prime card account today.
After I went and applied (and was apporved for) my first AMEX which just so happens to be the Amazon Business Prime card. Which is also my first business card. Oh what have I done gotten myself into here. Luckily the 13k limit AMEX gave me handily beats the old 5k limit I had with Chase so there is that bit of good news. My scores are a little better than they were at the beginning of the year but still lower than this time last year before my mortgage application. Also I now have no ties to Chase so that is a win in my book but I digress.
8/22/24
3/09/25
@Lou-natic wrote:Welp my 2022 strategy really fell apart...
So I left the garden first by applying for a new loan to buy a truck earlier this year.
Then I didn't close the account I said I was going to (CapOne QS) but instead closed my Chase Amazon Prime card account today.
After I went and applied (and was apporved for) my first AMEX which just so happens to be the Amazon Business Prime card. Which is also my first business card. Oh what have I done gotten myself into here. Luckily the 13k limit AMEX gave me handily beats the old 5k limit I had with Chase so there is that bit of good news. My scores are a little better than they were at the beginning of the year but still lower than this time last year before my mortgage application. Also I now have no ties to Chase so that is a win in my book but I digress.
Did Chase pull your hair and call you fat?
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@JNA1 wrote:
@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.
Well, it's August, and I'm still hanging in there like a hair in a biscuit! 😂 This 10 months has been the longest time of gardening I've had since I got into the credit card game in 2018.
I technically will be 4/24 on the 23rd, but I'm thinking of holding out a little longer - just to be sure. DW will actually be 4/24 in November, so I'm not sure what we'll do with her profile as well. I don't know that we need 2 Chase cards, but if we decided to, it would be the best chance to get her one for a while because her newest 4 cards are all a year old or less.
I can't decide if I want to try to go for Langley or the Alliant Signature card after the CFF. The Langley 5% card would another great hole filler, but I'd like to get the Alliant card as backup daily driver if AOD gets nerfed at some point.
@NoHardLimits wrote:I met my goals for 2021. They were to complete the minimum spend for the C1 Venture 100k signup bonus and to close some airline cards (closed Barclays Aviator Red).
For 2022, I plan to close the Venture card when the second annual fee posts. I had hoped that the ability to combine limits would have returned in 2021, then I could merge the CL with my Quicksilver card. Since that did not happen, I will simply close Venture.
The other card on my chopping block is the Amex Delta Gold. I was going to close this earlier this year, but Amex came out with the $10/month dining credits which more than offset the annual fee. If no new credits are on the horizon, I will close this when the next annual fee posts.
Beyond that, I am just keeping a low profile. I've gardened for one full year and will probably continue to garden in 2022. My spouse and I are now both fully retired from our day jobs, and we sold off all of our investment properties. These events combined to greatly reduce our verifiable income, but also greatly increased our investable assets. Since I don't want to draw any unwanted attention to the lower income figures, I will probably not apply for any new credit..... unless a really great signup bonus crops up. :-)
I'm partially on track with my strategy for 2022. I did close two cards as planned (Venture and Delta Gold), but I didn't stay in the garden.
The US Bank Altitude Reserve popped up on my radar for the 3% mobile pay category. Since I had no established relationship with USB, I decided to start one by applying for Altitude Connect with a 50k SUB. Instantly approved, but with a lower than usual SL for me. I'm not sure if the small SL was due to USB's conservative underwriting or my reduced income level. Maybe it's a combination of both. We'll see what happens when I apply for Altitude Reserve in a few months.
@cws-21 wrote:
@JNA1 wrote:Well, it's August, and I'm still hanging in there like a hair in a biscuit! 😂 This 10 months has been the longest time of gardening I've had since I got into the credit card game in 2018.
I technically will be 4/24 on the 23rd, but I'm thinking of holding out a little longer - just to be sure. DW will actually be 4/24 in November, so I'm not sure what we'll do with her profile as well. I don't know that we need 2 Chase cards, but if we decided to, it would be the best chance to get her one for a while because her newest 4 cards are all a year old or less.
I can't decide if I want to try to go for Langley or the Alliant Signature card after the CFF. The Langley 5% card would another great hole filler, but I'd like to get the Alliant card as backup daily driver if AOD gets nerfed at some point.
You have had admirable restraint, @JNA1! For me, it would make sense to go for the Langley card before the Alliant card because you probably don't have an immediate need or use for the Alliant card, but probably do for the Langley card. Hopefully we all have time before AOD nerfs their Visa Signature for existing customers. Just my two cents.
That's what I'm thinking as well. I'm hoping AOD lives on a long time!
I slightly improved my card lineups for a better 3-5% coverage (2x Cash+, 2x CCR). I added Citi Premier and depending on its progress, in the second year I may keep it or I may PC it to Custom Cash. I deciced to keep CSP, without travelling, and its AF is almost justified by its perks (Instacart, etc). The cashbacks/discount offers on CFF are almost duplicated on CSP while CSP gives slightly better return.
Depending on the upcoming future, travel or no travel, recession or pandemic(s), the lineups might require a revisit. These cards might be good to have: Chase Instacart, Citi Custom Cash, Penfed (Platinum/Pathfinder).
Fico8: EX~EQ~TU~840 (12 month goal~850).
My 2022 plans have been accomplished, and on a nice track to maturity. I am a minimalist when it comes to the number of credit cards I have as I prefer less cards to manage but higher credit lines. I got rid of my REI mastercard when Cap 1 bought them (I really hate those guys, and they seem to hate me LOL). I only have one card in the sock drawer (Chase Amazon) only because my wife got one that had a better CL, and Chase cut my Amazon rewards to 3% since my wifes Amazon became the default when she got hers.
Just sitting back now watching my cards age and building my credit lines up
