multiple CC accounts

[Anonymous]

I'm gonna sift back through the cc threads and select one more card to do stuff with.  I like the idea using just one card for eating out.  I'l nickname it the "Applebee's" card.  We are long time empty nesters, so we tend to eat out a lot.  The lady at the design studio thing asked what kind of stove we wanted in our new house I told her, "can I swap it for a flat screen, cause I can't tell ya when the last time we used a stove."  I thought that was pretty funny but wife didn't agree.

My new grill looks good, but can't work it yet.  It has all kinds of dials, knobs and gauges, and the instructions are inpenetrable.  They were written by a alien.  Fine print said it was made in Roswell.

Ok so I got a "Applebee's" card for eating out, what about gas?  Are ya better using a Visa, or Exxon card?  Do gas companies report in like a bank card?

I assumed there was financial software to help guys keep stuff going, my banks online window can do that.  I prefer the electronic transfer, but the bank that has my motorcycle loan doesn't talk to my checking account bank, so they have to actually print a check.

Thanks for y'alls help on this here and in the mortgage forum.  I can talk to my lender and know whats going on now.

[Anonymous]

Financial stuff: 

I use Personal Capital. Its kind of like mint on steroids. I use it to look at my stock portfolio as well. However, for the purposes of this forum. it lets me see the overall balances of the cards on the left. Once or twice a week, I also look at the individual transactions, to make sure nothing fishy is going on. I pay the cards in full and only use certain cards for certain purposes.

As to your food and gas questions:

The answer depends on how much you spend on each per month. I think the best cash back card is Sallie Mae, which gives 5% back on up to $250 spent on each of gas and groceries, plus 5% back on up to $750 spent on bookstores, including Amazon. If you and your wife each get one, that covers $6k per year in groceries. However, if you're eating out a lot, you probably spend less than $60 a week on groceries, and so only need one.

If you prefer one card, AMEX Blue Cash Preferred gives 6% on groceries on spend of up to $6k per year and 3% on gas. After the annual fee is taken out, you have a realized cash back of 4.8%, assuming you spend close to $6k on groceries. However, you can use this at Costco and it gives you an in with Amex if you don't already have one.

For dining out, I use Chase AARP, which gives 3% back at all restaurants and fast food places. You do NOT need to be a member of AARP to join. It might also be worth taking a look at uPromise by Sallie Mae. You can get up to 8% back at qualified restaurants. There is a list of which restaurants qualify, so you can figure out if it is good for you. 

[CreditDunce]

Does your Amex have an annual fee?  If so I would replace it with the Everyday card.  It is a cheap way to keep any MR points you have and will be backed dated to 1982 to help your credit score.  But don't make any credit card changes until you close on your house. 

If you are just looking for one dining card, I will second the Chase AARP credit card.  3x for Dining and gas is tough to beat. There are travel cards that may beat the AARP dining rewards, but you have to transfer points to airlines/hotels for the better redemption values.  SM is a great card, but it doesn't sound like you need a grocery/amazon card.  It does have 5% for gas up to $250 per month, but that might not be worth an extra card for you.

Another option would be to get a Lowes credit card for 5% off (assuming you will be shopping at Lowes with a new house).

[flawesome]

What longtimelurker said.

I set all my cards to automatically be paid in full every month. Most cards will have this option. That's all the effort I ever put in. All I have to do is make sure I spend below my means.

[Anonymous]

Petrovious came in and said-

"I use Personal Capital. Its kind of like mint on steroids."

Does the software import stuff like transactions, dates, and balances or user input?

[thom02099]

At 59, yer jest a pup!  Got a few years on ya!  Nearing retirement here and starting to re-think my credit journey.

As you can see from my siggy, I have...a few cards   I used to use a debit card for everything, before I had a few cards.  Now, I use my cards mainly like I would a debit card.   Each card has/had a purpose.  Some are going to get consolidated with other cards from the same issuer in the near future.

I use my AMEX charge cards like a debit card, simply run the expense thru the card, then log on a few days later and pay it.  I also use my AMEX chargers for concert tickets, since I get advance notices on music acts I'd like to see via AMEX (they have tie in's with a lot of artists), and my AMEX card becomes my e-ticket in at the venue.  Don't have to wait in line in many instances, since e-tickets frequently have their own queue.  AND I usually get good seats to boot!

I don't use all of my revolvers, and some of them are going to go away soon.  They've simply outlived their usefulness.  Others will continue to reside in the sock drawer.  I'll keep a couple of low interest cards (IberiaBank/1st Command) for their low interest on balance transfers if the need arises. 

Some of my revolvers now have a single purpose.  Others have multiple purposes.  But like the charge cards, I usually just go on line within a few days of the charge and pay it off. 

I have reminders set up on my Droid calendar for 24 hrs prior to a payment being due.  And I have email reminders sent to me by all of my cards at their websites, 10 days before a bill is due.  I also do everything on line; no paper statements here.  I have reminders emailed to me, get them on my Droid and my email account. 

AND I log in to all of my accounts at least once a week, usually more for the cards that are more active in my wallet rather than the sock drawer. 

Seems to work fine for me.  Retirement will mean less spending, and less need for so much credit.  But it's been one heck of a ride !

[Anonymous]

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@Anonymous wrote:

Petrovious came in and said-

"I use Personal Capital. Its kind of like mint on steroids."

Does the software import stuff like transactions, dates, and balances or user input?

---

It's a web-based app that is also available for your cellphone. You enter your accounts, including username and pass, and it pulls the data when you log in. You can see any transaction that has been reported or is pending, and it does it's best to categorize them for you. Transactions also includes dividends that show up and bills that are paid, so you can see the time lag of things getting paid off and when the money is returned to you. 

I'm not sure if it backdates for you or not. The transactions are searchable, and can be filtered for credit, mortgage, investment, loan, or cash. Its completely free to use, although you do have to put up with them periodically calling you and telling you that they can review your portfolio, with an eye to managing it for you for 0.5% per year. I just decline the calls. 

[elim]

i would'nt app for any cards until you investigate bonuses and rewards for your spending needs.

[toi34]

I pay EVERYTHING on the 1st ...regardless of when in the month it's due, that way I don't have to think about it until the next 1st of the month! 

[ways2go]

I take a few minutes a day, log into my cc accounts online.  I check for any charges and keep up to date on the due date and closing.  I usually pay the min payment when it appears, in case i forget to pay it, and it goes late.  Then I pay extra on it through out the month for any charges I put on them.