Managing multiple CC accounts, usage, and balances.

[iNathanDrake]

***Quick Update*** 

My mistake for the misleading title.

Let me calrify lol.

I don't have any trouble managing it in the traditional sense of "keeping track" of everything. I too have all the apps on my phone, have my own spreadsheets, reminders, I don't ever carry balances,  ETC. I don't need help here.

MY question was more, eventually it becomes annoying/alot to care to update cards on places like Amazon, or other online retailers where I could burn a transaction. I have reminder on my phone that go off every 6 months telling me to go spend on card "X".. I simply don't care to keep up with it anymore, it feels like a chore to me. I keep my 3 main cards in my wallet and I was foolishly trying to hit the 15-21 accounts on credit Karma which thankfully alot of people pointed out is really not as beneficial as I thought and pointless. Sweet!

Then my next concern was, okay logically if you don't wanna deal with all these cards and you're too lazy to up keep them, close some yeah? I was worried about what/how I was taught that closing accounts is bad for your credit health. A lot of people have clarified that that's also a non issue and thayt even closed they keep reporting for 10 years or so, and that the dip is miniscule. 

Again, this post was my mistake for the title, but I am thankful for everyone's feed back and am done applying for cards as I genuinely don't want anymore, and am now considering closing a couple of the smaller ones that I simply don't care about. 

Hey everyone, 

I was looking to get some help with some credit questions. 

im currently at around 11 CC accounts all ranging from like 5k - 40k ish. I've gotten into the habit of opening a new card once a year give or take to take advantage of APR free periods and to slowly work my way up to the green score in credit karma of 15-21 accounts. 

How do you guys manage so many accounts? Is it worth it? Should I stop? I try to utilize all of my "sock drawer" cards at least once a year, trying to do once every 6 months now. 

Is it bad to have so many semi inactive accounts?

How often should you be charging on them?

Do I need to wait for statement posting before paying them for the activity to count or can I pay once it's no longer pending? Is there a difference? 

By this method my AAoA is trash and never going to build age since I'm constantly adding to it , is that an issue?

should I consider closing some of my smaller and less used accounts (I'm aware this is a negative hit temporarily)?

I've noticed that my score doesn't really go up anymore, and has actually started to fall a bit here and there slowly. My highest was an 837, and on my most recent hard pull it looks like it's a 779? Again my credit hasn't changed much for the drop, obviously some hard pulls for apps but that's been a constant factor since I started my credit journey in 2016? All my balances are always under 10% 

any tips and advice on how I should be using my credit cards and best practices is greatly appreciated!

[Anonymous]

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@iNathanDrake wrote:

Hey everyone, 

I was looking to get some help with some credit questions. 

im currently at around 11 CC accounts all ranging from like 5k - 40k ish. I've gotten into the habit of opening a new card once a year give or take to take advantage of APR free periods and to slowly work my way up to the green score in credit karma of 15-21 accounts. 

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The major point is to not rely on credit karma for anything except free credit reports!  There is no magic about 15-21,you can get great scores with many fewer (three is enough) or much more.    So, don't add if this is the only driver (and similarly don't be scared of closing some if there are good reasons).

[Yasselife]

Digital wallet helps, sometimes I go months using my bcp only and forget about the rest. I choose to keep them open in case a better card comes around and I decide to PC  I'm missing the simplicity of having 1-2 strong cards, will probably let some close on their own along the road.

[iNathanDrake]

I feel like I do have my 2 string preferred cards already. You're not worried about letting them close on their own affecting your profile?

Also, how do you add your credit cards to your signature like that?

[gdale6]

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@iNathanDrake wrote:

Also, how do you add your credit cards to your signature like that?

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https://ficoforums.myfico.com/t5/SmorgasBoard/THIS-IS-HOW-YOU-ADD-CREDIT-CARD-PICS-TO-YOUR-PROFILE/t...

[iNathanDrake]

Ah too much work lol, but thanks for replying and educating me! Appreciate your time!  

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@gdale6 wrote:

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@iNathanDrake wrote:

Also, how do you add your credit cards to your signature like that?

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https://ficoforums.myfico.com/t5/SmorgasBoard/THIS-IS-HOW-YOU-ADD-CREDIT-CARD-PICS-TO-YOUR-PROFILE/t...

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[CYBERSAM]

Today's age, managing multiple accounts are very easy!

• I have bookmarked all the accounts, utilities, bills in my browser. Very easy to set them on auto pay and login about once a month to make sure everything is in order!
• You can also add your accounts as External to a main bank site and they can update almost anytime you login. I use DCU for this, but you can use many banks like CHASE, TD most Credit Union sites etc.
• You can also use Spread Sheet, such as Google to manage your accounts if you like add personal notes to them.

I generally keep only the cards that have use to me and cancel dormant or low limit cards eventually!

[iNathanDrake]

The managing was more for like using them regularly and keeping them active so as not to close lol. As far as payments go and being on top of my stuff I'm super OCD and organized.

You're not worried about closing out older cards and hurting your scores? 

[CYBERSAM]

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@iNathanDrake wrote:

Ah too much work lol, but thanks for replying and educating me! Appreciate your time!  

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@gdale6 wrote:

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@iNathanDrake wrote:

Also, how do you add your credit cards to your signature like that?

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https://ficoforums.myfico.com/t5/SmorgasBoard/THIS-IS-HOW-YOU-ADD-CREDIT-CARD-PICS-TO-YOUR-PROFILE/t...

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All you need to do is add one card to your sig 1st and then build it up from there

[Yasselife]

I do everything on my cellphone, I use Mint, and also have my bank apps on there.

I check Mint app daily, multiple times lol