For those of us with more than 5 cards...

[Math_Rocks]

I'm in one of the areas getting hit hard with bad weather so while I have electricity, I'm getting some extra FICO time today.

I've added (too) many cards to the picture this past year and I want to try to keep them all happy and avoid AA if at all possible. But I also want to be sure that utilization starts going down not up. If you also have several CC's, what advice or tips can you share?

[oracles]

Hi Matt

I think you should definitely only keep two cards in your wallet since you want to also bring down utilization. Have one that you prefer and also have a low credit limit. This will stop you from using it all the time since you know that you don't have much of a limit. Then the other cards I would advise that you rotate them. Use them once every 3 months unless it is a hsbc card, then I would use it every 2 months., If you have a store card, use that every 5-6 months. Make sure you pay off the preferred card before statement date so it will only report a 1-9% utilization on your reports.

hope this helps

[Creditaddict]

I understand... it's hard to keep them all active when all your trying to do is pay debt off.

but rotating them out in your wallet really works for me, because then only 1 of the 4 cards I have paid off will report a balance because that's the one that had been in my wallet for a month.

I'm sick, am I making any sense! lol

I'm also in the line of the storms! 

[haulingthescoreup]

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Math_Rocks wrote:

I'm in one of the areas getting hit hard with bad weather so while I have electricity, I'm getting some extra FICO time today.

I've added (too) many cards to the picture this past year and I want to try to keep them all happy and avoid AA if at all possible. But I also want to be sure that utilization starts going down not up. If you also have several CC's, what advice or tips can you share?

---

A few tactics off the top of my head:

1. Card(s) of the month club. Only carry one or two in your wallet, use them only for stuff you'd pay cash for otherwise (gas and grocs.) Pay them off weekly online. As each one hits 3-4 days before its statement date, sock-drawer it and replace it with the next one.

2. Put recurring payments on a couple of them and have them otherwise sock-drawered. Cell phone, land line, internet access, cable, utilities if you're on a averaged-charges plan, charities, etc. They can just hang out in your sock drawer but still stay active. I especially love doing this with cards that are on my fecal chart. I have a recurring charge for $5.50/ month on my Sears MC. It's the only use it gets. I smile every time I see it.

3. Keep aware of the varying statement dates or due dates, whichever you use for you personal payment deadline. I have my CC webpages bookmarked on Firefox, listed in order of payment dates --beginning of the month at the top. Every time I log on my laptop, I hit the bookmarks tab and check to see if anyone is getting close to when I want to pay. More normal people use Excel sheets and more standard reminder systems. Hey, whatever works for you! Also, most CCC's will let you change your due date or statement date. You can divide them up to coincide with your paydays or other useful times.

4. Don't rely on auto payments. Yes, they work almost all that time, but that "almost" is the killer. Go automated if you like, but set up the payment dates 5 days before you want them to hit, and keep checking to make sure that the payment was made and properly credited.

5. If any cards are pure store cards (no Visa or MC designation), they're probably OK to use just twice a year, other than the ones issued by HSBC. So they can stay in the drawer except for special occasions.

I have ten CC's in my own name (culling some soon), plus an AU card that I have to keep track of as well. Keeping track was a bit hair-raising at first, but it seems to be chugging along pretty well.

[MidnightVoice]

Plus charitable donations monthly  

[Math_Rocks]

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@haulingthescoreup wrote:

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@Math_Rocks wrote:

I'm in one of the areas getting hit hard with bad weather so while I have electricity, I'm getting some extra FICO time today.

I've added (too) many cards to the picture this past year and I want to try to keep them all happy and avoid AA if at all possible. But I also want to be sure that utilization starts going down not up. If you also have several CC's, what advice or tips can you share?

---

A few tactics off the top of my head:

1. Card(s) of the month club. Only carry one or two in your wallet, use them only for stuff you'd pay cash for otherwise (gas and grocs.) Pay them off weekly online. As each one hits 3-4 days before its statement date, sock-drawer it and replace it with the next one.

2. Put recurring payments on a couple of them and have them otherwise sock-drawered. Cell phone, land line, internet access, cable, utilities if you're on a averaged-charges plan, charities, etc. They can just hang out in your sock drawer but still stay active. I especially love doing this with cards that are on my fecal chart. I have a recurring charge for $5.50/ month on my Sears MC. It's the only use it gets. I smile every time I see it.

3. Keep aware of the varying statement dates or due dates, whichever you use for you personal payment deadline. I have my CC webpages bookmarked on Firefox, listed in order of payment dates --beginning of the month at the top. Every time I log on my laptop, I hit the bookmarks tab and check to see if anyone is getting close to when I want to pay. More normal people use Excel sheets and more standard reminder systems. Hey, whatever works for you! Also, most CCC's will let you change your due date or statement date. You can divide them up to coincide with your paydays or other useful times.

4. Don't rely on auto payments. Yes, they work almost all that time, but that "almost" is the killer. Go automated if you like, but set up the payment dates 5 days before you want them to hit, and keep checking to make sure that the payment was made and properly credited.

5. If any cards are pure store cards (no Visa or MC designation), they're probably OK to use just twice a year, other than the ones issued by HSBC. So they can stay in the drawer except for special occasions.

I have ten CC's in my own name (culling some soon), plus an AU card that I have to keep track of as well. Keeping track was a bit hair-raising at first, but it seems to be chugging along pretty well.

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My store cards are Kohl's, Macy's, Wal-Mart and Sam's. The lst two I know are GE, but who backs Kohl's and Macy's?

[Math_Rocks]

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@Creditaddict wrote:

I understand... it's hard to keep them all active when all your trying to do is pay debt off.

but rotating them out in your wallet really works for me, because then only 1 of the 4 cards I have paid off will report a balance because that's the one that had been in my wallet for a month.

I'm sick, am I making any sense! lol

I'm also in the line of the storms! 

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Thanks for the input! I hope that you feel better and that the storms miss you.

(And I'd really like to know NOW if the kids have school in the morning! *heavy sigh*)

[Creditaddict]

kohls is now owned by Chase

Macys is umm department store national bank and I have heard there visa is citi 

[haulingthescoreup]

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Creditaddict wrote:

kohls is now owned by Chase

Macys is umm department store national bank and I have heard there visa is citi 

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This is correct. The Kohl's card used to be issued by Chase but otherwise managed by Kohl's, but I think that Chase plays a bigger role now.

DSNB issues Macy's and Bloomie's, and they show up as Citi.

Both are civilized cards from what I've read --not prone to strange shutdowns and all.