@Anonymous wrote:
What I would suggest is keep it, put it away or sock drawer, as others have suggested, but make sure you sign up for cell phone alerts. I have EVERY single one of my cards set up to send me text/email alerts with regards to various issues, such as charges over X amount, charges made online, gas stations, payment due, late, posted, etc..... I also have every card set to make a minimum payment on its due date, just in case I've overlooked one by mistake. I love the security it allows me. If my card is charged, I'm instantly notified. Most times I'm in line paying for something and before I can complete my signature, my phone beeps. It's a wonderful feature. Almost fraud proof. I would suggest doing this for all your cards, and especially any your worried about. Every CC I've used has these alert features available and customizable.
Hrm, I could possibly tailor this to my own needs; at least with Chase I have seen their alert capability for transaction over a certain amount at least on checking, I think it applies to their cards as well.
I'm likely going to be doing some silly SD recurring microtransaction stuff to keep some tradelines I don't really use (BOFA Travel Rewards) open and available, and that will be roughly the same price every month. If I receive a charge of say >$1 I know something is up. Highly dependent on the sophistication of the lender's consumer support application, but worth looking into.
Thanks for the tip!
@Anonymous wrote:
No problem. Just about every CC has these "Alerts". You just need to set up your online account if you haven't already, and than go thru all of the alerts you care to "turn on", and how, via email, text, or both. On some, $5.00 is the lowest alert, while others it can be any transaction. Still other's will send you daily, weekly, monthly status alerts. It's all up to you.
I usually download the banks app on my phone. These allow super quick access and quick views/changes to your accounts. It's amazing how good this technology can work if you utilize it. I have no worries that any of my cards will be used via fraud (for more than a single transaction), and I'm not worried I'll miss a payment and collect a late charge, or worse 30 day late on my CR's. Good luck !!!!
Leverage the auto-pay system as a backup. Other than FIA (which will auto pay regardless of whether you have a balance or not) in my experience it's been spot on when I tested it by purposely deviating from my routine.
There's really no excuse to take a late fee even let alone a 30+ ever anymore for the vast majority of cards assuming you have the funds to pay the minimum amount. Agreed on the apps and the online infrastructure, I don't know how I'd manage this without that, probably badly!