@MugenCivicSi83 wrote:
@NRB525 wrote:
Well, congratulations on the new cards. If I interpret your siggy correctly, that's really a boatload of new cards in the last week.
Regarding usage and payment, the extra FICO points you might get by trying to juggle all the statement cut dates will probably not amount to too many points, particularly since it appears you are just under 700 anyway. (your Post App Spree scores probably are not fully updated, since the New Accounts need to settle in to the score after their first statement cut as well).
I would suggest using the cards like a normal person for a while. Use them to get the spend bonus out of the way, use them for appropriate card-specific bonus spend as available, and when each statement comes, arrange to pay that statement amount in full (PIF) by the payment due date shown on that statement. Continue to use the cards for those appropriate spend items, PIF off the next statement balance, etc. Said another way, I would not worry too much about trying to pay before statement cut.
If you decide you want to manage down the utilization overall, one way to do that is to rely more on your shiny new PRG card. As a Charge Card, it won't be factored into your utilization in the same way. Then you can use the other cards for one or two small charges each month, keep utilization down, and PIF off each card statement, without all the circus act juggling of statement cut date vs reporting date. The PRG requires PIF so keeps you disciplined in that regard.
Good luck! Congrats again on all the new cards.
Thanks here's the reason for why the new cards. I have built an excel file to manage every part of my finances. It's an intelligent system that calculates everything automatically for me and informs me when I need to pay and now i'll have a better idea with new data aka cut date. I'll contact my card issuers to get all of this data.
App'd yesterday and approved for all:
Cap One QS1: $3k CL - No FTF -
I opened a Capital One 360 Checking Account and deposited $5k cash from my Chase bank. Capital One 360 debit card has No FTF. I figured then I should check Cap1 Prequal site and was prequal'd for QS1. So I then applied and was approved for $3k immediately. Since my wife and I are moving to work in Switzerland in December, this all couldn't have come at a more perfect time. I just sold my house and have cash reserves as does she from selling her business. We will use this card heavily in the first month we are there to furnish our new residence in Switzerland as the rewards are 1.5% cash back. I am building my credit so this is a good start. We make $180K between the 2 of us. My career: 12 years in SAP Data Management.
Discover IT: $4.5k CL - No FTF
Again, we will use heavily as we are moving abroad for work. The card speaks for itself I believe. AND NO FTF!
Barclay Arrival +: $3k CL - No FTF
Will use heavily in first 90 days to get to $3000 spend for the 50,000 miles reward since we will be flying back and forth between Switzerland and the U.S. NO FTF!
Chase Freedom: $2k to $3.5K SP CLI
First ever CLI request. Tried upgrading to CSP on 9/15/16 but declined due to derogs that have since fallen off. Will use this card to pay student loans and use my Chase bank to pay off this card while i'm overseas. My ONLY US based branch bank. Closed my Wells Fargo Accounts after selling my house and transferred funds to Chase. DID NOT Close my WF Platinum Card and did not request CLI on it as I won't use it. I'll wait for WF to close it due to inactivity. Will not use Chase Freedom while overseas for any transactions there since it has a FTF.
AMEX Gold Premier: NPSL - No FTF
Prequal'd on website. $0 fee first year : $195 after. Will wait til right before fee hits to call and 'cancel' and have them waive the $195 fee Correction: I will not be calling to threaten to cancel: would be a bad move on my part since i'll use this card the most i'm sure.
25,000 miles with $2k spend in first 90 days. Again, won't be hard to get to in Switzerland with the move. Linked Chase Bank Account to this card already.
Barclay Apple Rewards: $2k CL
This one was a WTH kind of app like, My wife and I need a new laptop for overseas, and I'm an apple guru so...I app'd, 18months no interest. New Macbook pro here I come. 3 points per $1. $25 apple store card per 2500 points. Looking to get iphone 7 too before we leave....have had the 6 since i preordered it.
Fidelity Visa Signature: $7.5k CL - 1% FTF
I have a Fidelity retirement account that I just opened last month. I though WTH this looks like a good card to have in my portfolio. %1 FTF is not bad considering most cards are 3% FTF. Rewards go straight into my retirement funds!
I think many people have given the appropriate advice, especially in your situation (out of the country so won't be applying for a US mortgage in the near future): this forum and many others like it are populated with people with a much more than normal interest with credit cards. Most normal people don't micro-manage credit scores and the sky doesn't fall.
So for now just PIF (when possible) by the due date, and let things report as they do. Micromanaging only really makes sense for people builidng/rebuilding their credit (who want the boost of seeing the scores rise, given the possibility of getting better cards) and before major loans. At other times, you are wasting the float time and working for too hard for a trivial number of points.
EX819 1HP|TU797 1HP| EQ(Fico8 BankCard)841