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Setting your *2022* Card Strategy

Trini88
Frequent Contributor

Re: Setting your *2022* Card Strategy

2022 I plan to only do CLIs. Not applying for anymore credit cards till 2023 after I get a mortgage.



Message 21 of 112
SoCalGardener
Established Contributor

Re: Setting your *2022* Card Strategy


@CreditMarathoner wrote:

 

The only thing I may do, depending on what interest rates do, is refi the house mid-year or so.


Keeping in mind that I know virtually nothing about housing/mortgages/financing issues in today's world, I'm wondering why you'd wait. Aren't interest rates already really low? Like at their lowest in....forever? When I see ads for refinancing at 1.XX%, I just think, shoot, makes me wish I had a mortgage to refinance! Back in 1989 when I got my one and only mortgage, a 1-something interest rate was UNHEARD OF. Smiley Surprised  If you wait until mid-year, who's to say those rates won't have gone up by then? If you're thinking about doing it, I'm just wondering why you wouldn't do it now rather than gamble with interest rates going up.

Amazon Prime Store CardAmerican Express Blue Cash Preferred CardAmerican Express Everyday CardAmerican Express Platinum CardBank of America Customized Cash VisaCapitalOne Quicksilver MastercardCapitalOne Quicksilver Visa CardCapitalOne Walmart Rewards MastercardChevron Texaco CardCiti Double Cash MastercardDiscover More CardJCPenney Gold MastercardOverstock.com CardSportsmans Guide Rewards CardSynchrony Home Card
Message 22 of 112
Jordan23ww
Valued Contributor

Re: Setting your *2022* Card Strategy

@Aim_High great thread! I've been gardening for the last 12 months so that I can apply for the US Bank Cash plus card. I'll likely apply in December 2021.  


After that I'll be returning to the garden to get under 5/24, should be there October 2022. Once I am there I want to apply for the Chase Ink Cash. Once approved back to the garden I go. 

Next year I also would like to increase my limits on my Apple Card, Best Buy Cards and my Navy Federal Flagship.

 




Message 23 of 112
wingennis
Established Contributor

Re: Setting your *2022* Card Strategy


@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...


Some times closing a card is easy and you can do it through the automated call system.  Other times, the customer service rep works so hard to beg/plead/manipulate someone into keeping the card that it becomes stressful.  I hate the roulette but once I finally get to it, I won't have to worry about it any more!

Message 24 of 112
kilroy8
Super Contributor

Re: Setting your *2022* Card Strategy

I also want Custom Cash.

 

And to keep dark green circles.

 

Mutually exclusive, so I will likely do nothing.

Message 25 of 112
Andypanda
Established Contributor

Re: Setting your *2022* Card Strategy

if i can control myself, i want to let my 9 hp age off my reports. Unless a new card comes along that i am interested in, only card on ny radar is the US Bank altitude reserve. I sm thinking about apping for it thus time next  year.

Message 26 of 112
TSlop
Valued Contributor

Re: Setting your *2022* Card Strategy

My only real goal is to build URs, so I'll at least be closing and opening my CF soon. That'll allow me to net another SUB and finally get a CFF (I don't have a MasterCard in my inventory). L

 

I plan on perpetually staying under 5/24, so that is at most 2 credit cards a year. Unless something fancy comes out, I may only open 1 other card next year: something with US Bank. I'd like to get in with them in case I decide to go for a AR someday. Either that, or go for a CSR if my travel picks up.


Message 27 of 112
Aim_High
Senior Contributor

Re: Setting your *2022* Card Strategy


@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! Smiley Tongue



Length of Credit > 35 years; Total Credit Limits > $600K
AoOA > 28 years (Jun 1993); AoYA (Nov 2021)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 28 of 112
MrDisco99
Valued Contributor

Re: Setting your *2022* Card Strategy

After another failed USBank app last April, my plan was to do nothing the rest of the year... except my bi-annual Citi Premier SUB app, which I did successfully.  50K points in 2017, 60K in 2019, and 80K in 2021... not bad for $95/year.  Citi was cool enough to introduce the Custom Cash shortly before, which provided a perfect downgrade path for my old Premier.

 

I also did some cleaning up... got rid of Synovus and BofA as their products just weren't worth keeping track of anymore.

 

In January I'll be 1/12 on new accounts and 2/12 on inquiries.  I'll go for the Elan MCP which will likely be easier to get approved than USBank, and hopefully those numbers will be good enough to get it.  I'll dip below 5/24 in April, so I'll finally app for the CSP after pretty much being ineligible for the last few years.  Hopefully the SUB will go up again by then.  I'll also get the Verizon Visa as soon as I can to take advantage of further credits on my phone bill on top of the autopay discount.  And I'm thinking I also might get the SavorOne for a quick $200 and as a complement to the QS for a no hassle cash back combo for foreign travel.

 

Maybe I'll get to actually use some of the points I've got saved up.  I've been itching to travel again, and I've got enough points for something big.  Hopefully things will be less weird next year.

 

I feel like my lineup will be pretty much how I want it after that... unless some big change happens next year to make me replan.  Maybe I'll go back to chasing SUBs again.  Who knows.


GOALS:
Message 29 of 112
wingennis
Established Contributor

Re: Setting your *2022* Card Strategy


@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! Smiley Tongue


I haven't participated in the threads although I do read them (I've been back and forth so many times I'm still not sure where I stand).  Before 2020, getting approved for "premium" cards and playing the points game was such a rush.  Now that I'm trying to disinfect half the Sonoran Desert to try to protect my elderly parents and brother with MS from this virus, it seems like a frivolous way to spend my energy.

 

I'll make my way gack to the smorgasborg one of these days and pick a laneSmiley Very Happy

Message 30 of 112
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