topic Re: keeping track of credit cards and info in Credit Cards

keeping track of credit cards and info

Anonymous — Mon, 21 Dec 2015 15:47:36 GMT

So im new to this and now have a few credit cards I am starting to work with to rebuld but I dont know what the best way to keep track of everything is like accounts due dates payments and such. I was thinking a spreadsheet but i dont know how to set up or what to put in it.

How do you all keep it organized with everything u need together?

Re: keeping track of credit cards and info

Gmood1 — Mon, 21 Dec 2015 15:58:35 GMT

The mint app is a great way to track accounts.

Re: keeping track of credit cards and info

alisadarrick — Mon, 21 Dec 2015 16:01:21 GMT

Hi - Is the mInt app secure?

Re: keeping track of credit cards and info

Anonymous — Mon, 21 Dec 2015 16:03:24 GMT

I have a spreadsheet that I downloaded from somewhere, cant remember. It shows the card name, credit limit, balance, will calculate the utilization per card and also cumulative utilization. I added in a couple of boxes which show statement cut date, due date.

Re: keeping track of credit cards and info

Anonymous — Mon, 21 Dec 2015 16:04:06 GMT

thanks. are you able to put in payment due dates and keep track of balance and payments you make?

Re: keeping track of credit cards and info

krisssmmm — Mon, 21 Dec 2015 16:04:42 GMT

I started with 3 cards and got into the habit of paying my card down to 10% of the limit by the statement cut date. So I would always makes payments within days of purchases. If you have capital one or a card that has an app, link your checking account so you can make a payment as soon as you buy things. I would also pay the minimum as soon as I got the statement in my email so I never had to worry about being late.

Re: keeping track of credit cards and info

Anonymous — Mon, 21 Dec 2015 16:23:48 GMT

@Anonymous wrote:
thanks. are you able to put in payment due dates and keep track of balance and payments you make?

Yes, "I added boxes for due dates and statement cut dates. When you make a payment, just subtract the payment amount from the balance box. Enter that new amount in the balance box and hit enter, the spreadsheet automatically calculates your new utilization percentage. Pretty sure I found the one I use here on MyFICO.

Re: keeping track of credit cards and info

Anonymous — Mon, 21 Dec 2015 16:31:05 GMT

I feel that mint is just as secure as any bank if not more so. If it were compromised they realize it would be a crippling blow to not only the mint platform but to Intuit as well. (If you do go with mint, the .com site has more functionality than the app.)

One thing you can do is request all your statements to issue on a certain date, for example the 5th of the month. You can also do this with most other bills. This will streamline your process immensely.

I have a sheet of paper that I laminated with all my bills, and I just glance it over and make sure I am paid up once a week. In addition I do use Mint for all my budgeting. This is probably overkill.

Another thing you may consider is to set up auto pay as an “insurance policy” to make sure you are never late if you forget to pay a bill. That was recommended to me on this site and seemed like a no brainer.

Re: keeping track of credit cards and info

alisadarrick — Mon, 21 Dec 2015 16:32:07 GMT

thanks. So I just call each company and request a statement date change?

Re: keeping track of credit cards and info

elim — Mon, 21 Dec 2015 16:54:44 GMT

spreadsheet and prism

Re: keeping track of credit cards and info

Anonymous — Mon, 21 Dec 2015 17:17:39 GMT

Yes, that is all there is to it. You can even do it yourself online most of the time. The only thing to look out for is that it could take a month or so to take effect.

Re: keeping track of credit cards and info

PointLager — Tue, 22 Dec 2015 01:35:20 GMT

Mint for balances and spending categories.

Also, it helps to have all my cards close on the same date. Majority close a few days into the calendar month. This allows me to budget and pay everything down right at month end. I then stop spending on these cards and clear most of the balances before the statements print.

I then have a couple of cads that close a few weeks into the month. I will switch spend to these cards until the earlier cards' statements print. Goal is to only have one card print a balance. That's usually my Amex Platinum. Revolving cards almost never print a balance.

Re: keeping track of credit cards and info

Anonymous — Wed, 23 Dec 2015 07:03:36 GMT

Prism on your phone works well, its free

Re: keeping track of credit cards and info

NoAnchoviesPlease — Wed, 23 Dec 2015 07:13:13 GMT

I use a spreadsheet that evolves with my monitoring habits.

I keep track of APR, credit line, balance, util (balance / credit line), last statement date/balance, payment due date and amount, next statement close date, I also estimate the interest due on the next payment (balance * apr / 12) and a 3-year-payoff amount (balance / 36) which I treat as my minimum due when I don't PIF.

I can highlight changes, high APRs, reminders of CLI request dates, etc. I can also see relatively real-time util etc, which may have helped with a recent CLI on my credit union VISA, when I could tell the analyst-type "I paid these three off and they don't show on my report yet, but I'm at X% vs what my last posted numbers say at Y%."

I can also do what-if calcs, i.e. balance transfers or adding a card.

It works for me, but may not work for everyone.

Re: keeping track of credit cards and info

Anonymous — Wed, 23 Dec 2015 07:23:43 GMT

@alisadarrick wrote:
thanks. So I just call each company and request a statement date change?

Will work with changing all the due date to be same. Only problem with this is all your bill is due on the same date. That's what I did I now have all 6 of my CC due on 28th. With me though even if I was to max out all my credit card my 2nd paycheck from for the month can cover it all

Re: keeping track of credit cards and info

LadyJEsq — Wed, 23 Dec 2015 13:41:16 GMT

@Anonymous wrote:
@alisadarrick wrote:
thanks. So I just call each company and request a statement date change?
Will work with changing all the due date to be same. Only problem with this is all your bill is due on the same date. That's what I did I now have all 6 of my CC due on 28th. With me though even if I was to max out all my credit card my 2nd paycheck from for the month can cover it all

For me, all my CCs have the option to change to due date on the website, so there was no need to call. While the above is one way to do it, you could also spread the payments out. I only have 5 CCs, and I have 3 paid together at the first of the month, and the other two are paid together during the middle of the month. I also have all my CC set up for automatic billing under my bank account, as a back-up.

Re: keeping track of credit cards and info

takeshi74 — Wed, 23 Dec 2015 13:47:21 GMT

Don't overlook prior discussions as this is a very common topic. Some use spreadsheets and examples have been provided in prior discussions. Some use something like Mint, YNAB, Manila, etc. Some use a finance app. I use Excel and Mint.

@Anonymous wrote:
So im new to this and now have a few credit cards I am starting to work with to rebuld but I dont know what the best way to keep track of everything is like accounts due dates payments and such. I was thinking a spreadsheet but i dont know how to set up or what to put in it.

What all are you looking to track in the spreadsheet? Start with that. You don't have to get it right the first time. My current spreadsheet has evolved over 10 years and looks very little like what it started out as. It actually started out just as a check register to make balancing easier.

Are you sure a spreadsheet is the best solution for you? A spreadsheet can be handy if you're comfortable and familiar with using them in which case setting one up for credit cards should be no big deal. Have you considered the other options mentioned?

Re: keeping track of credit cards and info

elim — Wed, 23 Dec 2015 14:21:27 GMT

Definitely include a spreadsheet in your managing tool box. The ability to chart allows you to track your journey and see if and when you are getting into trouble (if you include historical data). You can track scores, debt, usage, AAoA, anything. A link to your payment accounts can be added to the sheets to reach them quickly right from the sheet. You can Google or YouTube formulas or any "how to" to quickly learn spreadsheets.

I prefer GoogleSheets so i can view/edit from anywhere (free)... here's a good starter sheet for managing credit and accounts... https://docs.google.com/spreadsheets/d/1zG3BGlfgYkfEXeVLIklvS1SpwKrax99s1g1af9Mao_8/edit#gid=821083327

Re: keeping track of credit cards and info

Anonymous — Wed, 23 Dec 2015 14:27:34 GMT

I have a nicely put sreapsheet in combination with google calendar for recurring monthly payments. Best combo in my opinion...

Re: keeping track of credit cards and info

Anonymous — Wed, 23 Dec 2015 15:01:16 GMT

I use a combo of Mint and Evernote. Mint is accessible on all devices because it's hosted online, triple security, plus it's just a reader you can't withdraw funds or anything. Evernote syncs all devices, so you have the info on everywhere you need, however it's NOT secure I don't think, I just use it to keep track of due dates, goals, when I should ask for cli and such, not sensitive info.