topic Re: Credit Card Management System in Credit Cards

Credit Card Management System

SecretAzure — Thu, 30 Mar 2017 18:21:18 GMT

Hello myFico denizens! I was wondering what you all use to manage which cards to use at which times? Do you have a credit card holder? Do you use a label maker? Do you use an app?

I have 6 cards (4 with rewards) so it's not too hard to manage but I want to hear about everyone's personal systems.

Priority:

Chase Freedom for 5% on any given category so I would use that for the corresponding category before my other cards
Amex BCE for 3% on groceries, 2% on drug stores, gas stations and select stores, no where else
Chase Freedom Unlimited: On all other purchases
I don't really use my other cards much

So I want to know what you use to manage your rewards. Sometimes I might forget I get certain bonuses at certain stores...sometimes I forget my Freedom rolled into another quarter and I miss opportunities to rack up UR. How do you people with 10,11, 12 and beyond cards manage which cards to use and when?

Thank you!

Re: Credit Card Management System

DeeBee78 — Thu, 30 Mar 2017 18:52:04 GMT

@SecretAzure wrote:
Hello myFico denizens! I was wondering what you all use to manage which cards to use at which times? Do you have a credit card holder? Do you use a label maker? Do you use an app?

I have 6 cards (4 with rewards) so it's not too hard to manage but I want to hear about everyone's personal systems.

Priority:
Chase Freedom for 5% on any given category so I would use that for the corresponding category before my other cards
Amex BCE for 3% on groceries, 2% on drug stores, gas stations and select stores, no where else
Chase Freedom Unlimited: On all other purchases
I don't really use my other cards much

So I want to know what you use to manage your rewards. Sometimes I might forget I get certain bonuses at certain stores...sometimes I forget my Freedom rolled into another quarter and I miss opportunities to rack up UR. How do you people with 10,11, 12 and beyond cards manage which cards to use and when?

Thank you!

I use an app called Wallaby. It shows you the best card to use based on maximizing rewards. I pull it up and search recommendations on local places all the time to make sure I have the right card before leaving the house. Here are a few screenshots showing the wallet management, features you can manage on the card (if you link your card accounts) and recommendations based on category.

And I'm asking for this wallet for my birthday:

http://www.coach.com/coach-breast-pocket-wallet-in-water-buffalo-leather/55249B.html?dwvar_color=BLK

Re: Credit Card Management System

SecretAzure — Thu, 30 Mar 2017 18:54:21 GMT

This looks amazing...thank you for taking the time to include screenshots as that really does help understand how it works. I'm definitely getting this app tonight.

Re: Credit Card Management System

DeeBee78 — Thu, 30 Mar 2017 18:58:30 GMT

@SecretAzure wrote:
This looks amazing...thank you for taking the time to include screenshots as that really does help understand how it works. I'm definitely getting this app tonight.

Of course, Wallaby means nothing when I'm in sign up bonus mode, like I am now. I'm chasing 4 signup bonuses right now - AARP, BCE, ED, WF Cashwise.

Re: Credit Card Management System

SecretAzure — Thu, 30 Mar 2017 19:29:15 GMT

@DeeBee78 wrote:
@SecretAzure wrote:
This looks amazing...thank you for taking the time to include screenshots as that really does help understand how it works. I'm definitely getting this app tonight.
Of course, Wallaby means nothing when I'm in sign up bonus mode, like I am now. I'm chasing 4 signup bonuses right now - AARP, BCE, ED, WF Cashwise.

Wow! Good luck! That's a lot of signup bonuses. I am just completing my one...for Freedom Unlimited. So the app would be great since I already met the spend!

Re: Credit Card Management System

Anonymous — Thu, 30 Mar 2017 20:16:11 GMT

Not so much priority, but I use awardwallet to track all my points and cash.

Keeps track of everything BUT United. MR, SPG, cash, HHonors etc.

Re: Credit Card Management System

rmduhon — Thu, 30 Mar 2017 21:11:55 GMT

Mine is easy since I only use a few cards. The GoRewards card from NFCU for restaurants (3 pts) and gas (2 pts, unless Discover has gas that quarter), Amex BCE for groceries, Discover for quarterly spend, and other things will be put on one of those cards or possibly a Cap1. Occasionally a store card for special financing.

Re: Credit Card Management System

Anonymous — Fri, 31 Mar 2017 02:54:53 GMT

Good question and interesting answers in the thread

For me it is quite simple:

1.Satisfy sign up bonus requirements (usually this gives 20~30% 'cashback' and you don't want to miss that)

2.For large non-reoccurring purchases that can be paid using a card(your call about how large is large, maybe 1K or more?) I stop and think through my cards, also use a portal if possible.

3.For the rest I look at my year end summary from various cards (you can also use mint) and add up the categories, then re-align the cards with the heavy categories.

The rest usualy don't have a big enough impact and can be safely ignored.

Re: Credit Card Management System

wasCB14 — Fri, 31 Mar 2017 04:03:17 GMT

Bonus categories don't always mean much for me. It's more a matter of asking myself a few questions. If the answer to any one question is a strong "yes", then that is generally what I rely on.

Do I distrust the merchant, or do I need a strong warranty? Use Platinum.

Can I likely buy it cheaper elsewhere? Use Prestige/Costco.

Does any card offer really great rewards or savings? Use that.

Would it be socially awkward if the card was declined as a false alarm for fraud? Probably use Platinum, but definitely avoid Discover.

I once used Wallaby, but gave up on it when GPS told it I was by Costco gas pumps and it told me to use Sallie Mae. Software isn't a substitute for knowing my cards.

Re: Credit Card Management System

Anonymous — Fri, 31 Mar 2017 04:48:57 GMT

Enjoying the ideas posted here. Good thread.

FWIW...I just use the little round colored stickers.

Green is zero balance for cards not used much.

Orange is balance is over 50% due to BT.

Pink has written the reward % and category. Sometimes 2 stickers on a card. Like Freedom has an orange sticker right now since I'm using a BT offer. But also a pink for 5% at gas...soon to be 5% at grocery stores in April.

My CitiCostco has 4% gas, but Discover and Freedom beat that Jan-Mar with 5%.

It also has 3% for restaurants, which I use too frequently.

BCE for groceries @ 3% right now. Freedom will beat that next quarter with 5%.

Apping in July for BCP for 6%.

I use Amazon Visa for the 5% there.

Discover will be 5% at home improvement stores and wholesale clubs in April.

For most everything else not listed above, I'm using QS WEMC pretty hard for 6 months @ 1.5% PIF and hoping for CLI after this next statement cut. But...

Prefer Blispay for 2%. and hoping they start passing out some CLIs soon for everyone.

Re: Credit Card Management System

minski — Fri, 31 Mar 2017 05:33:53 GMT

I assign roles for my cards. For example:

- PenFed cash rewards is my dedicated gas card (although with most places charging more for credit, I might switch to just paying cash)

- Blispay for financing

- US Bank Cash+ for cell phone and eating out

- Amazon Prime Store card for Amazon

- NavyFed cash rewards for when I travel abroad

I try to remember what the categories are for Discover, Freedom and Dividend, and use them accordingly. And then I rotate my two other general spend cards.

I tried Wallaby but I didn't trust it to keep my information safe, and it was easy enough to keep track of the categories last year so I'm keeping to my system this year.

I also have all my cards that can be on auto-pay (glare at Blispay) on auto-pay so I don't miss any payments.

Re: Credit Card Management System

DeeBee78 — Fri, 31 Mar 2017 15:55:17 GMT

@minski wrote:
I assign roles for my cards. For example:
- PenFed cash rewards is my dedicated gas card (although with most places charging more for credit, I might switch to just paying cash)
- Blispay for financing
- US Bank Cash+ for cell phone and eating out
- Amazon Prime Store card for Amazon
- NavyFed cash rewards for when I travel abroad

I try to remember what the categories are for Discover, Freedom and Dividend, and use them accordingly. And then I rotate my two other general spend cards.

I tried Wallaby but I didn't trust it to keep my information safe, and it was easy enough to keep track of the categories last year so I'm keeping to my system this year.

I also have all my cards that can be on auto-pay (glare at Blispay) on auto-pay so I don't miss any payments.

The only thing I put into Wallaby is what cards I have. I won't let it link to my external accounts.

Re: Credit Card Management System

sjt — Fri, 31 Mar 2017 15:58:22 GMT

@SecretAzure wrote:
Hello myFico denizens! I was wondering what you all use to manage which cards to use at which times? Do you have a credit card holder? Do you use a label maker? Do you use an app?

I have 6 cards (4 with rewards) so it's not too hard to manage but I want to hear about everyone's personal systems.

Priority:
Chase Freedom for 5% on any given category so I would use that for the corresponding category before my other cards
Amex BCE for 3% on groceries, 2% on drug stores, gas stations and select stores, no where else
Chase Freedom Unlimited: On all other purchases
I don't really use my other cards much

So I want to know what you use to manage your rewards. Sometimes I might forget I get certain bonuses at certain stores...sometimes I forget my Freedom rolled into another quarter and I miss opportunities to rack up UR. How do you people with 10,11, 12 and beyond cards manage which cards to use and when?

Thank you!

Not only do I use my cards based on rewards but also use them based on when the statement cutoff date is so I get an extra 20-30 days to pay.

Re: Credit Card Management System

SecretAzure — Fri, 31 Mar 2017 16:26:18 GMT

@sjt wrote:

Not only do I use my cards based on rewards but also use them based on when the statement cutoff date is so I get an extra 20-30 days to pay.

I was trying to figure out why I was hit with only $12 of interest on big balance...now that you say this, I can only imagine that I luckily must've put the spend on the card during this time frame...fortunately, I've been able to pay down the big balance a lot since so I shouldn't even see this much interest next time either. I learn so much on these forums. I have no idea when my cutoff dates are...is it the day after a payment is due?

Re: Credit Card Management System

HeavenOhio — Fri, 31 Mar 2017 18:21:08 GMT

Statement cutoffs can vary. I've seen them anywhere from three days to a week after the due date. Some lenders have consistent statement dates. And with others, they might vary, possibly due to the number of days in the month.

Look at your account online, or look on the statement. There's a good chance that there's a "statement close date" given. To be sure, call your card issuers.

Re: Credit Card Management System

Anonymous — Fri, 31 Mar 2017 18:46:22 GMT

Wallaby looks like an awesome app!

Although I have multiple cards, I really only ever use one at a time and put everything on it.

Re: Credit Card Management System

Revelate — Sat, 01 Apr 2017 07:30:02 GMT

@minski wrote:
I assign roles for my cards. For example:
- PenFed cash rewards is my dedicated gas card (although with most places charging more for credit, I might switch to just paying cash)
- Blispay for financing
- US Bank Cash+ for cell phone and eating out
- Amazon Prime Store card for Amazon
- NavyFed cash rewards for when I travel abroad

I try to remember what the categories are for Discover, Freedom and Dividend, and use them accordingly. And then I rotate my two other general spend cards.

I tried Wallaby but I didn't trust it to keep my information safe, and it was easy enough to keep track of the categories last year so I'm keeping to my system this year.

I also have all my cards that can be on auto-pay (glare at Blispay) on auto-pay so I don't miss any payments.

I do roles too.

CSR for anything travel and dining, and default for abroad stuff (which is mostly food anyway but occasionally some knick-knack)

Freedom if it falls to 5x.

FU for anything that falls to default where I'm not paying a FX fee.

Need to go find my Costco card for gas starting today.

And, bleh. That's sort of it for anything that's not on auto pay or Amazon currently right now. My financial life and credit card use is absurdly simple currently, unlike my travel arrangements and sadly my expense reports. Fortunately I don't mind being boring financially .

Will try Wallaby whenever I come off the road or my financial life becomes more complicated.

Re: Credit Card Management System

Anonymous — Sat, 01 Apr 2017 11:25:00 GMT

@DeeBee78 wrote:
@minski wrote:
I assign roles for my cards. For example:
- PenFed cash rewards is my dedicated gas card (although with most places charging more for credit, I might switch to just paying cash)
- Blispay for financing
- US Bank Cash+ for cell phone and eating out
- Amazon Prime Store card for Amazon
- NavyFed cash rewards for when I travel abroad

I try to remember what the categories are for Discover, Freedom and Dividend, and use them accordingly. And then I rotate my two other general spend cards.

I tried Wallaby but I didn't trust it to keep my information safe, and it was easy enough to keep track of the categories last year so I'm keeping to my system this year.

I also have all my cards that can be on auto-pay (glare at Blispay) on auto-pay so I don't miss any payments.
The only thing I put into Wallaby is what cards I have. I won't let it link to my external accounts.

Re: Credit Card Management System

Anonymous — Thu, 08 Jun 2017 01:21:34 GMT

Hello all, what was it specifically that you did not trust?

Re: Credit Card Management System

Anonymous — Fri, 09 Jun 2017 01:04:22 GMT

I wouldnt be chasing anything that Wells Fargo has to offer !

Wells Fargo is considered sub prime to many people because of

how they have opened up credit card accounts for people without

their permission

My daughter was one of them !

All of the other cards that you listed are actually on my wish list as well

I am going for Amex ED in July !