topic Re: Switching out cards in Credit Cards

Switching out cards

Anonymous — Mon, 25 Sep 2017 19:06:41 GMT

I used to have 2 cards that I used for a while. Now that I have 5 total revolving accounts (credit cards) what’s the best way to keep them open?

I do have the following:
Cap one QS: $1250 CL ($980 balance)
MSGCU: $1000 CL
Chase freedom unlimited: $2500 CL
Amex Bce: $500 CL
FNBO: $1000 CL

I do have 3 cards put away in my lock box. Cap one is one of them just because I am paying down the balance I was offered 0% balance transfer so I took it and put that card away. I’m keeping my amex in my wallet and will be my daily driver for a while just because I want the X3 CLI in 61 days. Should I just swap between cards every month? Every other? Any input would be nice on this. Thanks!

Re: Switching out cards

Anonymous — Mon, 25 Sep 2017 19:21:09 GMT

Using your sock drawered cards for a small charge every few months will be enough to keep them open.

Re: Switching out cards

HeavenOhio — Mon, 25 Sep 2017 19:36:00 GMT

In the case of the card with a balance, making monthly payments counts as usage.

Re: Switching out cards

Anonymous — Mon, 25 Sep 2017 19:45:52 GMT

Thanks for both answers. I am making more than the minimum on the card with the balance. Just ridingout the 0% balance transfer. My msgcu Card is linked with my bank and also my auto loan. I can just swap funds around to make the payment from my CC then transfer from checking/savings to the card as a payment. I’ll just switch things up and buy lunch on the other cards and pay them off after I have used them. Seems to be fine?

Re: Switching out cards

Gmood1 — Mon, 25 Sep 2017 19:57:59 GMT

I try to put reoccurring bills on mine.XM radio gets one, Dollar shave goes to one every month, Auto insurance another, Mortgage another, Gas on two or three, fast food on one or two, Groceries on several, electric bill on one, water bill on another..you get the point? Very easy to keep them active with a little imagination.

I've went on Amazon and plugged in 50 cent gift card reloading transactions on the cards I use the least.

Re: Switching out cards

Anonymous — Mon, 25 Sep 2017 20:33:18 GMT

Something I’ll have to play around with but I get what you’re saying with the reoccurring bills and such. Thanks for that as well. Never knew auto insurance could come out via credit. Mine comes out directly from my checking

Re: Switching out cards

Gmood1 — Mon, 25 Sep 2017 20:44:12 GMT

@Anonymous wrote:
Something I’ll have to play around with but I get what you’re saying with the reoccurring bills and such. Thanks for that as well. Never knew auto insurance could come out via credit. Mine comes out directly from my checking

Auto insurance out of your bank account? Blasphemy.. plain blasphemy I call it. Lol

Some companies don't allow CC payments. All of them should as much as they rip us off!

I changed insurance companies so I could pay with a card.

Re: Switching out cards

Anonymous — Mon, 25 Sep 2017 20:50:10 GMT

Never looked into it before. I just went to my policy online and bamb there’s a tab off on the side for it where I never noticed. I don’t have many bills to pay but
I’ll be paying them all with my cards for now on and just pay the balances off immediately

Re: Switching out cards

Gmood1 — Mon, 25 Sep 2017 20:54:15 GMT

@Anonymous wrote:
Never looked into it before. I just went to my policy online and bamb there’s a tab off on the side for it where I never noticed. I don’t have many bills to pay but
I’ll be paying them all with my cards for now on and just pay the balances off immediately

Sounds good, as your limits rise allow them to report with the balances before paying. I know it sounds backwards to what the OCD crowd says..lol.

But I'm proof allowing balances to report works if you want to build limits. Ask yourself why would someone want to give you more spending power if your reports don't actually show you spending anything? Now for internal scoring it doesn't matter. I'm talking about other lenders that you don't have a loan or CC with.

Re: Switching out cards

Anonymous — Mon, 25 Sep 2017 20:59:56 GMT

Alright that makes sense. Pay after the statement cuts but before due date obviously. I have always seen people just use them pay it off use then lay it off etc etc.

Re: Switching out cards

Gmood1 — Mon, 25 Sep 2017 21:05:10 GMT

Yup..you want to build a solid track record of using the card. Not just having it on your reports. Ha ha

As long as your utilization is in check..let them report.

Only when you need to manipulate the system for a few extra points, do you allow only one CC to report a balance.

Re: Switching out cards

Anonymous — Mon, 25 Sep 2017 21:11:24 GMT

I’m catching on to what you’re saying. I’ll give it a go this upcoming month with my bills

Re: Switching out cards

LadyJEsq — Mon, 25 Sep 2017 21:12:56 GMT

@Anonymous wrote:
Alright that makes sense. Pay after the statement cuts but before due date obviously. I have always seen people just use them pay it off use then lay it off etc etc.

There's no need to pay before the due date if you're going to pay after the statement cuts. I'm like Gmood, all my CCs get paid when they're due. I don't see the point in paying before and my scores haven't suffered because of it. They just took a dip this month when Barclay reported my Ring card which is just over 50% of the CL. But they'll bounce back soon enough. Is it possible that this will keep me out of the 800 club, maybe (but who knows for sure), do I care, no. Once you're over 750, which I'll be well over once I get that debt down, you're more than likely going to get the lowest rate available anyway, so I don't see the need to micromanage my accounts.

Re: Switching out cards

Anonymous — Mon, 25 Sep 2017 22:07:34 GMT

Thanks lady for the input as well I will definitely give this a go from now on and see how it will play out with scores increases/decreasing. Also with trying to get higher CLs

Re: Switching out cards

Gmood1 — Mon, 25 Sep 2017 22:14:40 GMT

@LadyJEsq wrote:
@Anonymous wrote:
Alright that makes sense. Pay after the statement cuts but before due date obviously. I have always seen people just use them pay it off use then lay it off etc etc.
There's no need to pay before the due date if you're going to pay after the statement cuts. I'm like Gmood, all my CCs get paid when they're due. I don't see the point in paying before and my scores haven't suffered because of it. They just took a dip this month when Barclay reported my Ring card which is just over 50% of the CL. But they'll bounce back soon enough. Is it possible that this will keep me out of the 800 club, maybe (but who knows for sure), do I care, no. Once you're over 750, which I'll be well over once I get that debt down, you're more than likely going to get the lowest rate available anyway, so I don't see the need to micromanage my accounts.

Right on sister!

800 scores don't hurt, but they sure don't guarantee you an approval or cli either. Seen too many here with those scores still get denied. Use that credit like you stole it! lol

After all that is what its for. On another note, just called Navy Fed about a BT offer. I'm already on one but recieved another offer today. Called to see how that works.

CSR told me I could use the newest as long as the other portion is payed off before that promotion ends. She gave me a 5% reduction on my APR without me asking, to their lowest rate on that card (10.XX %)! They sure have pissed me off in the past and thy're making up for it now.

Re: Switching out cards

HeavenOhio — Mon, 25 Sep 2017 22:38:48 GMT

I don't think Capital One and AMEX care when you pay.

Re: Switching out cards

LadyJEsq — Tue, 26 Sep 2017 00:14:09 GMT

@HeavenOhio wrote:
I don't think Capital One and AMEX care when you pay.

I can't speak to AmEx, but C1 definitely cares when you pay. I missed a payment after not being able to log in for a few days, I thought it was no big deal because I didn't recall using the card anyway. Well, I forgot a couple of PayPal purchase that is connected to my C1 card. The charges weren't for much, less than $200 total, and after I used it at Costco about a week or so after the due date, they sent me an email telling me that I was at risk of getting my card blocked. I was at about $600/$31,000 and for the first time in almost two years late and they were ready to block my stuff. C1 don't play that!

Re: Switching out cards

LadyJEsq — Tue, 26 Sep 2017 00:21:36 GMT

@Gmood1 wrote:
@LadyJEsq wrote:
@Anonymous wrote:
Alright that makes sense. Pay after the statement cuts but before due date obviously. I have always seen people just use them pay it off use then lay it off etc etc.
There's no need to pay before the due date if you're going to pay after the statement cuts. I'm like Gmood, all my CCs get paid when they're due. I don't see the point in paying before and my scores haven't suffered because of it. They just took a dip this month when Barclay reported my Ring card which is just over 50% of the CL. But they'll bounce back soon enough. Is it possible that this will keep me out of the 800 club, maybe (but who knows for sure), do I care, no. Once you're over 750, which I'll be well over once I get that debt down, you're more than likely going to get the lowest rate available anyway, so I don't see the need to micromanage my accounts.
Right on sister!
800 scores don't hurt, but they sure don't guarantee you an approval or cli either. Seen too many here with those scores still get denied. Use that credit like you stole it! lol
After all that is what its for. On another note, just called Navy Fed about a BT offer. I'm already on one but recieved another offer today. Called to see how that works.
CSR told me I could use the newest as long as the other portion is payed off before that promotion ends. She gave me a 5% reduction on my APR without me asking, to their lowest rate on that card (10.XX %)! They sure have pissed me off in the past and thy're making up for it now.

Ok! And as far as I'm concerned, if my scores (generally in the 770s +/-) aren't good enough to warrant the best rate, then it's probably not an institution I want to do business with anyway. My most recent cards garnered me the best possible rates, so I must be doing something right.

Man all these amazing stories regarding NF and PenFen are really making me itch!

Re: Switching out cards

HeavenOhio — Tue, 26 Sep 2017 00:23:35 GMT

I should have been more specific. They'd definitely care that you're late. And they love it when you pay in full. But they don't seem to care if you frequently pay to zero or show a statement balance.