@iNathanDrake wrote:
@AlanGJP wrote:Do you utilize all 10+ cards you have regularly or is there a certian point where CLI's stop?
Just trying to learn! Thanks in advance.
No worries, always happy to help, if I can.
Do I utilize all my cards? (27 right now) In short, yes.
Regarding CLIs and managing accounts - I use spreadsheets.google.com rather than Excel. Mainly because I can access it from anywhere -- I have a lot of computers, so it's nice to have it available anywhere. (There's also apps so you can access on mobile)
Here's a small clip of mine - sorry, but not going to share the whole thing. This should give you an idea of how I manage mine. The last line in the example (marked with a *) is my notes on the account. The "Request Increase" column would be where I'd put the date for my next request. I'll usually put a note in there (If I don't know it off hand) such as "* Request CLI every 90 days".
Hope this helps: (Click to enlarge)
@AlanGJP wrote:
@iNathanDrake wrote:
@AlanGJP wrote:Do you utilize all 10+ cards you have regularly or is there a certian point where CLI's stop?
Just trying to learn! Thanks in advance.
No worries, always happy to help, if I can.
Do I utilize all my cards? (27 right now) In short, yes.
Regarding CLIs and managing accounts - I use spreadsheets.google.com rather than Excel. Mainly because I can access it from anywhere -- I have a lot of computers, so it's nice to have it available anywhere. (There's also apps so you can access on mobile)
Here's a small clip of mine - sorry, but not going to share the whole thing. This should give you an idea of how I manage mine. The last line in the example (marked with a *) is my notes on the account. The "Request Increase" column would be where I'd put the date for my next request. I'll usually put a note in there (If I don't know it off hand) such as "* Request CLI every 90 days".
Hope this helps: (Click to enlarge)
Do you dynamically calculate the statement date? That's the one thing I've been having trouble with. I have one card with a fixed statement date, another that's a fixed number of days before the due date (so the date varies by the number of days in the month), and a final card which I haven't figured out (my FNBO Evergreen close date seems to be random).
I have a similar sheet, but it's got more about benefits and skips due, closing, and CLI request dates (I put those in my calendar instead).
Apple's notes is another good tool I use for spreadsheets.
@Anonymalous wrote:
Do you dynamically calculate the statement date? That's the one thing I've been having trouble with. I have one card with a fixed statement date, another that's a fixed number of days before the due date (so the date varies by the number of days in the month), and a final card which I haven't figured out (my FNBO Evergreen close date seems to be random).
I have a similar sheet, but it's got more about benefits and skips due, closing, and CLI request dates (I put those in my calendar instead).
Admittedly I've kept the spreadsheet fairly simple. There is another page with benefits per card and which card pays the most for specific categories. I really should get better about statement dates. Since I do check my accounts nightly, I don't usually worry too much. If any of mine unintentionally report spend it's usually because something is pending on my "daily driver" and reported as a balance. I gave up trying to prevent that, it's just too much to worry about and not really worth the effort versus the temporary affect to my score.
The hit from all cards reporting a zero balance is much worse than a few cards reporting small balances. This is why I try to keep my CLs as high as possible. I easily get a 20-30pt hit when they all report zero and maybe a 5pt hit when more than one card reports a small balance. (under 5%) It's not enough to stress over and 5pts isn't going to affect me being approved or denied for anything.
For me, the spreadsheet is to keep track of credit limits and when I should request a CLI. I initially made it to track statement cut dates and CLIs, but (as I said above) it just became pointless for me since I'm always on top of my accounts.
@Anonymalous wrote:
Agreed about the all zero penalty (I typically lose a bit under 20 points), though I go a bit further and don't really worry about balances posting at all. Since my scores are pretty good, a minor drop during a random month doesn't really hurt. And since I've gotten good limits on my main cards, utilization mostly takes care of itself. I've played with different balances reporting enough to know that normal use only has a relatively minor effect on my score. I find that combination (good scores, good CLs, and the practical experience of playing with balances) has made managing my cards a lot easier. The only times I might bother paying a card off early are when I have an exceptionally large purchase, or when I plan to apply for new credit. It's quite a relief, compared the micromanagement required by my first card's toy limit ($300).
Thinking about it, I don't really reference my sheet much anymore. It's mostly a place for obscure benefits that are often buried in hard to find document and I might not remember off the top of my head, like the roadside assistance number, the cash advance fee, or the purchase protection deadline.
Yeah, I reference my spreadsheet more often than you. That said, I also have my business cards on there as well as new(er) cards with SUB's (I usually have one or two going at any one time - although, I suspect that'll change soon) and I cross-check those pretty frequently, probably more than I need to. 
I can say, without a doubt, I open it FAR less than I did a year ago.
@iNathanDrake Let one card report a small balance under 10% utilization while the rest report $0 balances, then pay it off and repeat. (You could shift cards to show usage to other creditors).
