topic Re: Perils of tracking CCs using spreadsheet in Credit Cards

Perils of tracking CCs using spreadsheet

Anonymous — Sun, 08 Nov 2015 01:08:38 GMT

WHOA...I almost lost it there. I track my CCs on a spreadsheet with payment due date in the last column (I know, stupid). I paid most of my CC bills already for this month w/exception of Venture, Sapphire and Ritz C which I thought I would take care of this evening. So I mosey on into the Chase site and payoff Sapphire and RC. Then I go get a drink, come back and open up CAP ONE. OMG...the payment is due no later than 11/07 8 p.m. and it's like 7:45. Needless to say, I totally freaked out. I paid off half the balance at 7:53 and then thought, what the hell, and paid off the rest at 7:54. I took screenshots of the transactions which show time and date pre and post payment. But I have a perfectly clean credit record...no lates, no BKs, no nothings. ...and I almost ruined my unblemished record. I need another drink. And I really need to slap myself across the face.

Re: Perils of tracking CCs using spreadsheet

kdm31091 — Sun, 08 Nov 2015 01:12:30 GMT

Id say its more about the perils of perhaps too many accounts vs how they are tracked. Some people simply cant/dont want to manage many accounts and a missed payment on your record certainly isnt worth it.

Maybe consider pruning your file? Get rid of some lesser used cards?

Re: Perils of tracking CCs using spreadsheet

bz386 — Sun, 08 Nov 2015 01:15:59 GMT

Setup automatic payments on all accounts and you won't have this issue.

Re: Perils of tracking CCs using spreadsheet

Cmikul — Sun, 08 Nov 2015 01:24:58 GMT

Autopay will set you free

Re: Perils of tracking CCs using spreadsheet

Anonymous — Sun, 08 Nov 2015 01:29:36 GMT

NO...never! THEY'RE MINE....ALL MINE!!!!!! Point well taken. Thank you.

Re: Perils of tracking CCs using spreadsheet

elim — Sun, 08 Nov 2015 01:41:18 GMT

Prism App is a great addition to spreadsheet tracking. It gives countdowns to each bill and populates auto. After you pay from anywhere (even from the app) they go poof.

https://www.prismmoney.com/.

Re: Perils of tracking CCs using spreadsheet

Open123 — Sun, 08 Nov 2015 01:43:06 GMT

I can't be the only one who sets all the cards due dates to around the same time of month, right?

Re: Perils of tracking CCs using spreadsheet

Anonymous — Sun, 08 Nov 2015 01:57:18 GMT

+1 ^

Mine are all around the same time. I get paid 2x a month and my 1st check of the month pays all cc bills. Easy for me, just go down the list.

Re: Perils of tracking CCs using spreadsheet

Glkslngr — Sun, 08 Nov 2015 01:59:48 GMT

@Open123 wrote:
I can't be the only one who sets all the cards due dates to around the same time of month, right?

Not the ony one! I like to have all mine set to the 1st of the month.

Re: Perils of tracking CCs using spreadsheet

SisterGirl — Sun, 08 Nov 2015 02:03:03 GMT

@Open123 wrote:
I can't be the only one who sets all the cards due dates to around the same time of month, right?

Nope ! And that changed for me 17 years ago when I started working for the State of Texas whom pays at the first of the month. I changed eachl due date to fall between 10th - 15th just for "wiggle room" & my bills hit my mailbox about the same time.

Re: Perils of tracking CCs using spreadsheet

Anonymous — Sun, 08 Nov 2015 02:06:26 GMT

@Open123 wrote:
I can't be the only one who sets all the cards due dates to around the same time of month, right?

I need to do that. Been too lazy

Re: Perils of tracking CCs using spreadsheet

TiggerDat — Sun, 08 Nov 2015 02:51:38 GMT

Thanks for the Prism info. I have downloaded and will check it out.

Re: Perils of tracking CCs using spreadsheet

Anonymous — Sun, 08 Nov 2015 04:17:22 GMT

I'm still slow to trust automatic payments and most personal finance software. I'm worried there will be an email about a change in some card's autopay system that I will overlook or misunderstand.

Re: Perils of tracking CCs using spreadsheet

takeshi74 — Sun, 08 Nov 2015 04:25:00 GMT

@Anonymous wrote:
But I have a perfectly clean credit record...no lates, no BKs, no nothings. ...and I almost ruined my unblemished record.

Not with a 1 day late. It would have to be 30+ days late. A 1 day late could lead to fees, penalty APR's etc but will not be reported.

@Anonymous wrote:
I track my CCs on a spreadsheet with payment due date in the last column (I know, stupid).

It doesn't matter what column you use. You need to be aware of due dates and payment cutoff times. This is nothing inherent to the use of spreadsheets. Use whatever tools you need to and however you need to use them. Use autopay if you need it. Set up reminders if you need to. Change payment due dates if you need to, etc etc.

I've never had problems with late payments relying on my spreadsheet. However, I don't wait until the due date if I can schedule the payment when I get paid.

@Anonymous wrote:
OMG...the payment is due no later than 11/07 8 p.m. and it's like 7:45.

Pay attention to the time zone as well.

@Open123 wrote:
I can't be the only one who sets all the cards due dates to around the same time of month, right?

No one is ever the only. Many do.

Re: Perils of tracking CCs using spreadsheet

Anonymous — Sun, 08 Nov 2015 07:37:29 GMT

I feel old with my method. I save the largest envelope from each card. On the front I write approval date, apr info, bonus info, and phone number.

I also get all my due dates set as closely as possible, so I know no matter what, I have to pay everything by this date this month.

Since I have been doing so many transactions lately that I pay the next morning I am worrying less about utilization reporting.

My next possible idea is to set up automatic payments. The only thing that bothers me with those, I havent been able to find a way to get them to automatically disable if I go on and make a payment myself for a larger amount. So if I did this, I would have to remember to deduct that amount from the full payment,or just let it go thru an deal with it later.

Re: Perils of tracking CCs using spreadsheet

Anonymous — Sun, 08 Nov 2015 09:54:33 GMT

Lol this post had me laughing. Not that you should be late at all but you do know that most creditors have a grace period? And also late payments aren't considered late on your credit reports until 30 days late (I say that because you talk about your unblemished reports. They would've still been unblemished if 12 hours late lol).

Re: Perils of tracking CCs using spreadsheet

Anonymous — Sun, 08 Nov 2015 11:43:07 GMT

This might be weird, but I keep most of my cards in a box and I have tabs with their due dates behind them, kind of like recipe cards. I never owe money on more than two or three at a time. I run several different logins and passwords, all of which are recorded in a book, in case I forget, but I never consult the book. I remember everything. Haven't balanced a checkbook in years either. Always know where I'm at. I might do a bit of quick handwritten arithmetic from time to time, but it works for me.

Re: Perils of tracking CCs using spreadsheet

12njoy — Sun, 08 Nov 2015 13:52:27 GMT

@Anonymous wrote:
WHOA...I almost lost it there. I track my CCs on a spreadsheet with payment due date in the last column (I know, stupid). I paid most of my CC bills already for this month w/exception of Venture, Sapphire and Ritz C which I thought I would take care of this evening. So I mosey on into the Chase site and payoff Sapphire and RC. Then I go get a drink, come back and open up CAP ONE. OMG...the payment is due no later than 11/07 8 p.m. and it's like 7:45. Needless to say, I totally freaked out. I paid off half the balance at 7:53 and then thought, what the hell, and paid off the rest at 7:54. I took screenshots of the transactions which show time and date pre and post payment. But I have a perfectly clean credit record...no lates, no BKs, no nothings. ...and I almost ruined my unblemished record. I need another drink. And I really need to slap myself across the face.

Hello OP. A spreadsheet is a great tool. I use a spreadsheet for my 49 cards. I have the due date on the sheet as well, but I track my accounts by the close date. When a closing date is approaching I check the account to see the activity. I also use a color code system to mark accounts as paid. For example, November payments have the account highlighted green whereas October accounts paid may be blue and December accounts paid might be brown. This way I have 3 checks and balances (close date, due date, and color code). This works very well for me. Before I started the color code system, I didn't miss any payments, I was actually paying two or three times on accounts. Good luck. Now I realize 49 cards may not be for everyone but this is my choice here.

Re: Perils of tracking CCs using spreadsheet

bdhu2001 — Sun, 08 Nov 2015 14:03:38 GMT

@Anonymous wrote:
@Open123 wrote:
I can't be the only one who sets all the cards due dates to around the same time of month, right?
I need to do that. Been too lazy

I've considered it, but it's helpful to switch to another card between due date and statement close date. Since I tend to only use two cards, perhaps all of the rest of them should close on the same date as one of my two favorites.

Re: Perils of tracking CCs using spreadsheet

weehoo — Sun, 08 Nov 2015 14:55:41 GMT

I use mint and it has been great fior me, however i have not tried any other "tracking" service