Basically reached all my goals

A place to discuss anything... except credit cards!
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MemberSince99
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Basically reached all my goals

Postby MemberSince99 » Wed Sep 17, 2014 8:36 am

I don't have any desired credit cards (have too many as it is but don't feel like thinning them out at present), I have vehicles for the foreseeable future, have a mortgage.


Only goal is to keep credit as good as possible. Nothing else.


Will probably thin the cards if anything. I just simply have nothing further I want or that even interests me.


Anyone else reach that point?


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onion
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Location: Jacksonville, FL

Postby onion » Wed Sep 17, 2014 8:56 am

I got there after I got my platinum and arrival plus. I did some credit stuff because I bought a motorcycle, but that wasn't really planned. I'm bored with apping etc so I'm just gonna use my cards and pay my bills.
FICO TU - 728 - 8/14
FICO EX - 716 - 7/14
FICO EQ - 740 - 7/14

Bank of America Cash Rewards - $2,400
Best Buy - $3,000
American Express Blue Cash Everyday - $8,000
American Express Everyday - $10,000
Discover It Chrome - $500 (AU on fiancée's card, helping her build credit)
American Express Platinum - NPSL
Barclaycard Arrival+ - $3,000
Capital One Yamacard - $11,000

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Xorand
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Postby Xorand » Wed Sep 17, 2014 9:16 am

I've been there for a couple years now.

In 2009, I was making six figures, living paycheck to paycheck (just piles of "keeping up with the Joneses" debts) and had FICO scores in the mid- to upper-500s. Our family car had my father-in-law as a co-signer to keep the interest low. My SUV was used for security for a high interest finance company loan. The few credit cards I had were all at approximately 95% utilization and all had interest rates in the upper 20's (a couple were 29.99%).

When the company I worked for was bought out and I was given a sizable stock option that vested in 2012, we decided to spend the three intervening years to get out of debt. By the end of 2012, I only had part of a vehicle loan remaining when the stock plan paid out. We paid that off, bought a high-end fifth wheel travel trailer outright and put the rest of the money in retirement/investment accounts. I semi-retired from my full-time job and went part-time.

We now travel around the country 26 weeks out of the year in our RV, living in it full-time. We sold our (paid off) home this spring and put the proceeds in the retirement/investment funds. When we started traveling, we quickly realized that the chance for credit or debit card fraud was greatly increased so, instead of getting rid of the credit cards we had recently paid off, we kept them and started adding to our card portfolio over the last couple years.

Even though my income is about 60% of what it was, I'm only working half the year now. Expenses are much lower without a mortgage, utilities, taxes, trips to the home improvement store to keep a yard and garden alive, etc. My FICO scores are now in the high 700's. Our cards are used for about 95% of our spending and are PIF each month.

I can walk through about any store now and really have no desire to buy the latest gadget. I've never been one to buy expensive, flashy objects just to impress others. I've really had a shift of thinking about credit cards over the last 3-4 years. Used to be, I would use them to buy things I didn't have the cash for immediately and only care about the fact that I can still make the minimum monthly payment. Now, they're used primarily as a tool to earn rewards while smoothing out our somewhat erratic income stream. We're dedicating all our rewards dollars and points this year (aside from airline miles) to pay for a week-long trip to Disney World next January.

I think as far as my card portfolio is concerned, I might drop the lower limit CO Platinum card but keep everything else. I'm on the fence, though, as it is a sock drawer card that pays all our monthly recurring bills (cell phones, insurance, etc.) and gives 1% back in the process.
AmEx - Platinum (NPSL) , Blue Cash Preferred ($19,000), Gold Delta Skymiles ($8,500)
Chase - Sapphire Preferred ($14,000), Disney ($11,500), Amazon.com ($9,000), Freedom ($8,000)
CapOne - QuickSilver ($7,250) / Platinum Rewards ($7,250)

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onion
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Location: Jacksonville, FL

Postby onion » Wed Sep 17, 2014 9:38 am

I'm sure if you give the extra spend to another lender, you might get a cli.
FICO TU - 728 - 8/14

FICO EX - 716 - 7/14

FICO EQ - 740 - 7/14



Bank of America Cash Rewards - $2,400

Best Buy - $3,000

American Express Blue Cash Everyday - $8,000

American Express Everyday - $10,000

Discover It Chrome - $500 (AU on fiancée's card, helping her build credit)

American Express Platinum - NPSL

Barclaycard Arrival+ - $3,000

Capital One Yamacard - $11,000

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Xorand
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Location: TX

Postby Xorand » Wed Sep 17, 2014 10:24 am

onion wrote:I'm sure if you give the extra spend to another lender, you might get a cli.


If you're referring to my sock drawer card, not sure it would help. I tried a manual CLI with CO on that card a while back and they declined it with the reason that I don't use all the limit is has now. In practically the same week, they did a $2000 CLI on the other card I have right after I swapped it to a QuickSilver. That card hadn't been used much at all in about a year. I've never quite figured out Capital One.
AmEx - Platinum (NPSL) , Blue Cash Preferred ($19,000), Gold Delta Skymiles ($8,500)
Chase - Sapphire Preferred ($14,000), Disney ($11,500), Amazon.com ($9,000), Freedom ($8,000)
CapOne - QuickSilver ($7,250) / Platinum Rewards ($7,250)

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CarefulBuilder14
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Postby CarefulBuilder14 » Wed Sep 17, 2014 10:39 am

After getting BCE and Sallie, I'm at a good resting/gardening point. I'm definitely not done, but once I have Arrival+ and TrueEarnings I should be set as far as personal cards. Getting a real card for business expenses is also an option, but those purchases tend to be pretty infrequent.

I may be relocating with work, so buying a home isn't likely for a few years.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red

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djrez4
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Postby djrez4 » Wed Sep 17, 2014 10:40 am

MemberSince99 wrote:I don't have any desired credit cards (have too many as it is but don't feel like thinning them out at present), I have vehicles for the foreseeable future, have a mortgage.


Only goal is to keep credit as good as possible. Nothing else.


Will probably thin the cards if anything. I just simply have nothing further I want or that even interests me.


Anyone else reach that point?


Until I can afford to drop $30k on travel, I will continue to take advantage of the system to take $30k trips for $2k. So, no. I'm not done.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

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CarefulBuilder14
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Postby CarefulBuilder14 » Wed Sep 17, 2014 10:48 am

djrez4 wrote:Until I can afford to drop $30k on travel, I will continue to take advantage of the system to take $30k trips for $2k. So, no. I'm not done.


How much of your travel is business vs. personal? I pictured you constantly on the road visiting clients, getting your expenses reimbursed by your firm (or clients), racking up an enormous number of UR and MR points.

Or you don't travel much for work and get most of your points through travel hacking and everyday spending?
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red

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sicasun
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Postby sicasun » Wed Sep 17, 2014 11:02 am

It must feel good to have reached all your goals :) Congrats!
I still got a ways to go. Car loan has no visible end in sight and i'm probably going to pick up a mortgage within the next year. I only have one card I'm aiming to get for now, and them I'll be done for a while I think.

Chase Sapphire Preferred | 09/2014 | $10,300
Chase Sapphire | 05/2010 | $5,000
Chase Freedom | 01/2013 | $5,500
CapitalOne Quicksilver | 01/2013 | $2,500
American Express TrueEarnings | 08/2014 | $5,500
Victoria's Secret Angel Card | 04/2011 | $600

FICO | 09/2014 | Experian 738 | Equifax 706 | TransUnion 701

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djrez4
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Postby djrez4 » Wed Sep 17, 2014 11:58 am

CarefulBuilder14 wrote:How much of your travel is business vs. personal? I pictured you constantly on the road visiting clients, getting your expenses reimbursed by your firm (or clients), racking up an enormous number of UR and MR points.

Or you don't travel much for work and get most of your points through travel hacking and everyday spending?


Almost entirely personal, with points earned through spend bonuses, MS, and optimized spend.

I don't have a national client base and I may never. My practice doesn't lend itself to travel, other than heading to a courthouse in another part of the state once in a while. I have one client in AZ for whom I do federal tax work, but I can do that remotely. She wants me to waive in to AZ next year. I may begin to travel down there at that time. Or, I could go pro hac vice until then. Who knows!
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]

[/RIGHT]



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