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Goals Cards - What are they

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Anonymous
Not applicable

Goals Cards - What are they

Hello everyone!

 

I see a lot of folks on here have "goal cards" they are working toward.  I'd be interested to know more about that.  What cards are one's to strive for and what would be a list of card goals for different credit levels?

 

Any insight? 

Message 1 of 18
17 REPLIES 17
calyx
Super Contributor

Re: Goals Cards - What are they


@Anonymous wrote:

Hello everyone!

 

I see a lot of folks on here have "goal cards" they are working toward.  I'd be interested to know more about that.  What cards are one's to strive for and what would be a list of card goals for different credit levels?

 

Any insight? 


Goal cards are cards that we strive to achieve to maximize benefits from issuers based on our spend/lifestyle.   They are going to be unique for everyone - based on our individual spends, desires, and uses.   In addition, they change over time based on the rewards being offered.


Look at your spend, and where you intend to spend - do you want cash back, travel perks, other perks?  Do you spend a lot on any particular categories?   Most of my spend is likely to be different from yours.    Having a budget and being able to see where your money is going could really help you decide what cards would work best for how you spend and whether or not you might benefit even if a card has an annual fee.

When you decide on what cards or perks you want, research into them and see what kind of stats their lending institution prefers.  You can also look to see if there are prequalification sites that might help you.   

Don't forget that there are roundabout ways for getting goal cards.   I want the USBank Cash+.  Since USBank likes preexisting relationships and I had pretty bad credit when I started my journey, I went with a USBank Visa secured which can graduate and be product changed into the Cash+   There is definitely more than one way to skin your proverbial cats around credit cards.




Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 2 of 18
calyx
Super Contributor

Re: Goals Cards - What are they

I should also add that some people have "goal cards" based on pure challenge - a bank that's difficult to get into, a card with someone they don't have a card with, a card that's super exclusive, or even getting back in with a bank they've burned in the past.

It's not always just about spend/rewards, but what's personally important to you.

Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 3 of 18
800FICOGoal
Established Contributor

Re: Goals Cards - What are they

I am going to echo calyx in that goal cards are unique and will come an go over time with changing interests and lifestyle.  Then there's the issue of cards being "nerfed" or discontinued. 

 

You can see my "Goal Cards" in my signature. However, the list is a little misleading as I most likely won't have all the cards at the same time. Some cards will replace others, and some will be dropped as my lifestyle changes. 



Rebuild Cards

Goal Cards

Loans
Message 4 of 18
BallBounces
Valued Contributor

Re: Goals Cards - What are they

I think the original question is interesting and want to point out a distinction that may have been missed:  Different goal cards for different Levels of Creditworthiness.

 

For example, A Chase Saphire Preferred may be a goal card of someboday that has "Good" credit and is aspiring toward "Excellent".

On the other hand, someone with "Poor" Credit may have the Capital One Platinum as a current goal card - and that is very reasonable.

Perhaps someone with "Fair" credit has a goal of Discover It Cash Back.

 

I think a good goal card, regardelss of level is one that is obtainable with some sort of relatively known criteria, and one which has a utility or usefulness with it.  It also serves as a defacto benchmark. 

 

Interesting discussion.

 

050719:     
021924:     


FICO 08 scores listed and are stagnated until multiple derogatory items expire over the next two years.
Message 5 of 18
coreysw12
Valued Contributor

Re: Goals Cards - What are they

I realize these sound like funny goal cards... but there's a method to my madness, and also a reason why I haven't yet acquired some of those which are fairly easy to get:

 

Sapphire Reserve & Freedom: I already have a Sapphire Preffered and a Freedom Unlimited. But I can't get the Reserve nor the Freedom until at least next summer, because I've opened too many other cards recently. And also I burned Chase not very long ago, so I'm already skating on thin ice with them as it is.

 

US Bank Cash+: US Bank doesn't like me very much. Not sure why, as I've never burned them before, but they have denied my app every time I've applied for this card.

 

Amazon Prime Store Card: Why not the Prime Visa, you might ask? Because that's yet another Chase card, and I don't want to have 4 Chase cards, plus I'll never use the card outside of amazon anyways. Why haven't I applied yet? Because I've burned Synchrony before and I'm scared to apply Smiley Very Happy

 

Discover It Cashback: I've burned Discover before, and they're still holding a grudge about it... prequalification website still says they have nothing to offer me.

 

Ducks Unlimited: 5% back on gas and sporting goods, hard to beat that! I've just been too chicken to try applying for it.

    Total Loan Balance: $43k / $65k


    Total SL: $78k

United 1K - 725,000 lifetime flight miles    |    Chase Status: 4/24
Message 6 of 18
KJinNC
Valued Contributor

Re: Goals Cards - What are they

My only specific goal card when I started my build/rebuild was the Amex Gold, and I got it. Why that card? It fits my spend, and, it just seemed like a meaningful threshold to be able to get one. It's not super difficult to get, so I could imagine getting one within the first year. It doesn't hurt that I get a $100/year statement credit due to having a corporate card, so, the annual fee is effectively reduced from $250 to $150.

 

I do have some other cards I'd like to eventually have ... the list may change, and I doubt I'd actually get all of these, just a selection of them.

 

- Citi DC. I like that it's a prime bank, and 2% back is good even if there are hoops to jump through.

- The Discover 5% rotating category card.

- The Chase Freedom 5% rotating category card.

- - Those two pair together, in my mind. With two rotating 5% cards plus Amazon Store Card, there's a great chance of being able to get 5% on a lot of stuff at any given time.

- A Chase Sapphire card. Haven't decided yet which, but probably the Reserve if I had my choice.

- Sam's Club MasterCard. Because I am a Sam's Club member and it gives 5% off gas everywhere including Sam's. Though, if I were to switch from Sam's to Costco by then, I might prefer the Costco 4% card.

- Ducks Unlimited is another 5% gas card that is also 5% for sporting goods, and, I buy sporting goods, so that's another one I'd consider. Key question is if the 5% gas discount would apply to warehouse stores (I doubt it), but it might be worth it for me purely for the sporting goods part.

- I can't get anything from Chase until at least summer 2021 due to 5/24, so in the meantime, I may look at options like Amex BCP, Citi Prestige or Premier, or Cap1 Venture.

 

My general opinion of credit card issuers goes something like Chase > Amex, Citi and Discover > Cap1 and Sync, for what it's worth (that and $2 gets you a cup of coffee).

 

I'm not planning to apply for anything else this year, though I might do one if I start seeing preapprovals for stuff on this list.



FICO Resilience Index: 64. Cards: 5/24, 2/12, 2/6. Accounts including loans: 8/24, 4/12, 3/6. Card CLs total $213,900, or $240,400 including the AU card. Cards (oldest to newest)

Authorized user / Corporate / Auto loans / Personal loan
Message 7 of 18
Anonymous
Not applicable

Re: Goals Cards - What are they

 

 

-Amazon Chase Rewards

The evil empire gets all of my money as it is so might as well make 5% cash back on it. Plus gives me a way into the Chase family.

 

-Citi DC

Basic all around 2% cash back card for purchases not in higher categories.

 

-Uber Visa

4% Cash back on dining/3% on travel/2% on streaming related services/1% on everything else.

 

-NFCU Cash Rewards

Want to get into the NFCU family. Hoping to get my first home/new vehicle through them.

 

-Amex Gold (If they bring back the rose gold card)

FLEX!

 

 

 

Message 8 of 18
FireMedic1
Community Leader
Mega Contributor

Re: Goals Cards - What are they

I've been fortunate to get what I wanted after BK. One by one. Now its time to sit on my hands until that 5yr 1 month mark to go after an AMEX card. The goal cards I wanted basically was to get paid for every single thing I purchase in cash back. I have all avenues covered for now. That was the all around goal. By the time I retire. Then the travel cards I'll go after once I'm done working. Until then, I have no complaints at all.


Message 9 of 18
Anonymous
Not applicable

Re: Goals Cards - What are they

For me, goal cards represent something I’m not eligible for now and need to strengthen my profile for.

It’s a celebration of progress in my rebuild when I get approved for these.

My achieved goal was the SavorOne. I have wanted a Capital One prime tier card for awhile. They’re one of my favorite lenders.

My pending goals are UMB Simply Rewards and US Bank Cash+.

The Simply Rewards is score and credit seeking sensitive, the Cash+ is credit seeking sensitive (especially for me, my profile will have to be flawless, because US Bank was IIB).

I use goal cards as a way of forcing myself to actually garden. My BK will be falling next year so the only way to get my scores up now (other than adding an installment loan) is to stop applying and let things age.
Message 10 of 18
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