topic Re: Managing cards is SOOO exhausting!!! Ugh!!! in Credit Cards

Managing cards is SOOO exhausting!!! Ugh!!!

pizza1 — Tue, 01 Apr 2014 16:13:44 GMT

So, I've had credit for years, since I was 18, and never knew how the game was played until I had to file BK7 last year, and start my research and dreaded rebuild. Before I'd just charge on all of my cards (several) and just pay the minimum every month, had good scores high 760-780's. well now, trying to keep track of all my cards, having use on all of them, and then making sure all but ONE report a $0balance, whew! It's exhausting playing the credit card game!! Especially for me since I'm rebucketed, and my current and future lenders are watching me, I want to make sure I use the cards to show use, but turn around and Pif before statements cut, allowing a small balance to report on one major card. I've keep every month now a 1% util showing on the CB. That hard and I'm tired!!! Lmao!!! But, I'm more knowledgable now of credit, only charge what I can poff off immediately, and I'm not abusing credit like I had for years, which ultimately lead to my BK I now have restraint, knowledge, and respect for credit....I know it's a privilege and I'm using it well

Re: Managing cards is SOOO exhausting!!! Ugh!!!

Anonymous — Tue, 01 Apr 2014 16:28:59 GMT

First off I want to say great job at turning your credit around. Coming back from a BK definitely must be a struggle. All I wanted to say was, there seems to be way too much emphasis on the 1-9% reporting. Just use the cards! As long as you're not applying for a mortgage or car loan, and have a credit score right on the edge of the next higher tier, don't need to fiddle around with optimum scoring before then. For sure that would stress me out as well. Obviously not saying max your cards or what not, but you're already paying in full, so just keep on keeping on!

Re: Managing cards is SOOO exhausting!!! Ugh!!!

Swapmeet — Tue, 01 Apr 2014 16:30:51 GMT

Nice job on the rebuild and correcting the problem that led to your BK! Managing cards can be exhausting. This is why I have a spreadsheet with each card, limit, statement cut date, next cli date, and number to call to request cli. And I use manilla to keep track of how much I owe to who and bill pay at my bank, where I can pay any creditors that I want in a single transaction....It makes it easier.

Re: Managing cards is SOOO exhausting!!! Ugh!!!

DaveSignal — Tue, 01 Apr 2014 16:32:57 GMT

If the cards that are in your sig are all the cards that you have, here is how I would do it:

1. Use the NFCU for 0% balance transfers. You can carry a balance here, but don't put any purchases on it.

2. You don't list what your Barclays gets rewards for, but use it for that. Try not to use more than half of the credit limit and PIF by the due date.

3. All of your store cards just use if they offer better rewards at the stores they are for. And pay off the current balance as soon as you use it for a purchase.

This will cost you no money (you won't be charged interest) and make it easy to manipulate utilization if you are planning on applying for something. ie: if you want to apply for a new card, then the month before you apply you just have to pay Barclays before the statement to get it reporting below 10%. If your balance on NFCU is high, you might want to also wait to pay off the 0% promotion before applying. But this only requires careful attention to two credit cards, instead of 10.

Re: Managing cards is SOOO exhausting!!! Ugh!!!

Creditaddict — Tue, 01 Apr 2014 16:35:25 GMT

@pizza1 wrote:
So, I've had credit for years, since I was 18, and never knew how the game was played until I had to file BK7 last year, and start my research and dreaded rebuild. Before I'd just charge on all of my cards (several) and just pay the minimum every month, had good scores high 760-780's. well now, trying to keep track of all my cards, having use on all of them, and then making sure all but ONE report a $0balance, whew! It's exhausting playing the credit card game!! Especially for me since I'm rebucketed, and my current and future lenders are watching me, I want to make sure I use the cards to show use, but turn around and Pif before statements cut, allowing a small balance to report on one major card. I've keep every month now a 1% util showing on the CB. That hard and I'm tired!!! Lmao!!! But, I'm more knowledgable now of credit, only charge what I can poff off immediately, and I'm not abusing credit like I had for years, which ultimately lead to my BK I now have restraint, knowledge, and respect for credit....I know it's a privilege and I'm using it well

I agree that now you are gardening for a bit sit back and relax on how things report... just use and pay and when you approach your next app spree then spend the 2 months prior to it getting things reporting the way you are now (1 account under 9%) but right now it's not important to just have 1 account report vs. 3 or not letting an account report 30% util...

Re: Managing cards is SOOO exhausting!!! Ugh!!!

pizza1 — Tue, 01 Apr 2014 16:44:54 GMT

Creditaddict.... You know that I'm trying to get future cli with navy on my card, so I'm using the heck of it, pif etc... My 6mo and 6th statement is coming up in 2 weeks, hoping to pull the trigger and see! Last one was in January I'm trying trying to keep an overall better picture for them lmao!! I have no plans to apply for anything for 2 years. Just garden and use cards and work on building up the cards I do have. I have good cards for rebuilding and I want all my inquires off my 3 reports, then I'm gonna pull the trigger on discover!

Re: Managing cards is SOOO exhausting!!! Ugh!!!

Creditaddict — Tue, 01 Apr 2014 16:46:47 GMT

@pizza1 wrote:
Creditaddict.... You know that I'm trying to get future cli with navy on my card, so I'm using the heck of it, pif etc... My 6mo and 6th statement is coming up in 2 weeks, hoping to pull the trigger and see! Last one was in January I'm trying trying to keep an overall better picture for them lmao!! I have no plans to apply for anything for 2 years. Just garden and use cards and work on building up the cards I do have. I have good cards for rebuilding and I want all my inquires off my 3 reports, then I'm gonna pull the trigger on discover!

okay, do your CLI on Navy and apply for the $15k Navcheck with Navy in 2 weeks and then back to garden and don't worry about your reporting so much

Re: Managing cards is SOOO exhausting!!! Ugh!!!

pizza1 — Tue, 01 Apr 2014 16:52:15 GMT

CA... Navy has declined me 3 times since I've joined almost 6 months ago for the navcheck with no counter... Just flat out NO!! Lol!! Of course siting BK and other things showing on the old accounts that were IIB. So, I'm hesitant in applying again. Of course all HP's too!! . So not sure how to proceed!

Re: Managing cards is SOOO exhausting!!! Ugh!!!

leoment — Tue, 01 Apr 2014 16:56:30 GMT

I use CreditKarma to monitor my balances, and it's very helpful to see all my accounts in one place. They also keep track of your due dates for each account as well.

If any of your accounts offer it, I would change the due dates so that some of them have the same due date. This makes life easier because instead of having say 6 due dates for 6 accounts, you can reduce it to say 3 due dates for all 6.

Re: Managing cards is SOOO exhausting!!! Ugh!!!

xerostatus — Tue, 01 Apr 2014 16:56:41 GMT

My strategy is as follows --

Initial set-up:

1. Make list of all credit card accounts, due dates, and statement cut dates.

2. Group the cards into two categories: group-1 of cards whose statement cut dates are after the 15th but before 30th, group-2 of cards whose statement dates are after 30th but before 15th.

Rules:

- Pay in full all group-1 cards on the 15th; Pay in full all group-2 cards on the 30th

- Do not use any cards in group-1 between the 15th and the actual cut date of each card, in order to avoid reporting a balance.

- Do not use any cards in group-2 between the 30th and the actual cut date of each card, in order to avoid reporting a balance.

- Other than the above three rules, use cards as needed throughout the month.

Optional:

To even further simplify this system and/or make it even more efficient, you can set each credit card billing dates (if allowed) to correspond between with the two groups of payments you will make each month. This will also help to minimize the "do-not-use" days of each card, between the day you pay and the day actual statement cuts.

Re: Managing cards is SOOO exhausting!!! Ugh!!!

DaveSignal — Tue, 01 Apr 2014 17:02:22 GMT

I guess the plan would be different if you don't really care much about rewards.

If all you want is a NFCU CLI, then continue to use that card and PIF. I would let that card report balances too, but PIF by the due date.

OTOH, I just recently received an NFCU CLI without using the card for a single purchase in over 12 months. I do carry 0% BTs on it though.