But it's obviously a difficult task for most people outside of here. 
@Anonymous wrote:But it's obviously a difficult task for most people outside of here.
I think its a great idea, hopefully you're wanting to make sure you dont have x amount reporting by statement cut date?
What I used to do when I started out with cards (like had more than 5 major CC's), and did not have much money in my high yield checking account,, or a single digit fixed APR card that could act as a line of credit in emergencies, I would just pay off charges as they happened. Took me a while to figure out that just pushing payments from my checking account was the easiest thing to do. I know that sounds a little crazy, and some folks here have debated what that looks like to a creditor (like avg payment amt, etc). Obviously that has had ZERO impact to my card approval (aside from chase 5/24), increases, or profile in general. I am now to the point where I automatically have every card adjusted to roughly the same payment due date (usually its something simple, like the 1st of the month or anything that week). I realized I was being a little too obsessive (again no offense, not acting like I have more than you, trust me, I have been there with less cards) but it was not just about tracking spending to the last cent it was to help utilization. By taking advantage of each cards grace period today, and not paying off each charge as it happens, I end up making quite a bit more in the form of a monthly dividend. I then shoot that money off to another account for either motif investments, or some type of arbitrage (buying/selling gift cards) that will let my money make me more money. Unless its some crazy charge that I can't stop obsessing over, or it would cause my card to report above 29% of its limit.
Good for you for finding a way to budget that works for you and thinking outside of the box. I was actually entering each transaction in my ledger then just writing what card it was on. I am a little old school too lol. No fancy xcel charts or anything here. I literally dedicate one desk drawer to credit cards for two people. In that drawer is usually the largest envelope that a particular issuer has sent (ya know they do vary in size especially with BOA). On the front of the card I write the open date, promo period, post promo apr, future apr reductions, etc. Any subsequent info sent, or bt offers, or any changes get stuck in there neatly. I am kinda leaning towards digitizing it though just for backup when traveling (hence my major messup when I paid my delta gold AF a 12 hours late and freaked out over nothing). A simple chart would have saved me from that embarassment/potential disaster. I already set up phone reminders for any card with an AF.
While we are on the topic, are there any other eccentric things that you do regarding credit/cards/financing that may seem a little quiky to others? I do notice your endearment and consistency with thoroughly reading terms about cards, late fees, penalty apr, etc. That is something many people toss aside. Not me.
I usually spend an hour a month just going through all the papers, shredding any promo checks that have expried, and try to recycle any envelopes that I can.
I will say there is a current exception, since I did go for the shared secure installment loan thing to try to offset my 120 day late error just a tad (which judging by my 70 point increase last summer, scores were all 760 range before apping like crazy, I am not expecting a miracle. So now I am trying to make sure I have most of my cards paid off by statement cut date. I have also considered changing all of my due dates so that the statement cut date was around the time as my current due date, but I will worry about that later. I have to say during a period like this its nice having a few charge cards that don't impact utilization. And the grace period on those can be longer than 25 days.
@sarge12 wrote:I get a monthly SSDI check and normally withdraw 1500 from retirement funds minus 20% federal tax witholding. Normal income is 3250 total. I employ the KISS budget method. I keep 1000 dollar buffer in checking. I charge every monthly bill that can be paid with cc the day the bill prints...not due date. All bills that can not be paid with cc I pay the day the bill prints with EFT. I PIF every credit card balance at least once a month, but usually twice. If at any time doing this my checking account falls below 1000 dollars, I know to slow down spending. If not, I know I'm OK. I download everything in quicken, pay everything as soon as possible or practical, and just let that 1000 buffer let me know when to slow down. This might be too simple for some, but it works well for me.
I have seen the option to export transactions on Amex. Aside from them haven't done much digging around. Is that a pretty common feature with the major CCs to download to quicken? I really wanted to do some financial tracking of things all in one place (specifically cutting back on eating out for a certain somebody that is hesitant to use gift cards with coupons unless I arrange everything which gets annoying). Hopefully it doesnt involve the use of Mint. I had so many issues with them in the past I am hesitant to try again.
screenshot of 1 credit cards register in quicken....the att charges were due to changing services to save money. You have seperate register each card.
