myFICO cc forum has changed my thinking

[gmason]

I just received a new credit card (actually several).

******************

Old me:

Let's go get dinner (feelings of relief that I have extra credit).

******************

New me:

If I carry a balance, is it interest free?
How many cards will have balances?
Should I pay in full before the statement cuts or after?
How soon will it show up on my credit report?
How will this affect my overall util?
How old are my accounts?
Can I get the best car rates now?
How long should I garden accounts?
What is the purpose of each and every card that I have?
How should I nourish the banking relationship to maximize my credit, rewards, and financial position?
How soon will creditors be soft pulling my credit and checking on how I'm doing?

*******************

All of the above crossed my mind in about 3 minutes after opening the envelope. Darn, I wish that I had found the myfico forum years earlier. I think that with good health and planning, that I have fixed my debt woes for good.

Thanks all.

[LS2982]

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@gmason wrote:

I just received a new credit card (actually several).

******************

Old me:

Let's go get dinner (feelings of relief that I have extra credit).

******************

New me:

If I carry a balance, is it interest free?
How many cards will have balances?
Should I pay in full before the statement cuts or after?
How soon will it show up on my credit report?
How will this affect my overall util?
How old are my accounts?
Can I get the best car rates now?
How long should I garden accounts?
What is the purpose of each and every card that I have?
How should I nourish the banking relationship to maximize my credit, rewards, and financial position?
How soon will creditors be soft pulling my credit and checking on how I'm doing?

*******************

All of the above crossed my mind in about 3 minutes after opening the envelope. Darn, I wish that I had found the myfico forum years earlier. I think that with good health and planning, that I have fixed my debt woes for good.

Thanks all.

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Can't agree more.

This forum is a blessing and hopefully a lot more people will catchon about this website an use this info wisely for them!!

[09Lexie]

All the above plus

What card should I use to get the best reward?
😂

[gmason]

Yep, more and more questions. I tried to capture the first couple minutes.

One of many things that I never knew before coming here ... that creditors are softing their customers on a regular (and often frequent) basis. I never would have treated my credit like I had in terms of being over-extended if I thought that creditors were watching other creditors.

It is a game that should be played very carefully if money is tight. And the consequences result in all kinds of additional expense if you play the game badly. I never thought I was dumb, but I certainly feel very humbled in the last couple months of following this forum.

[Paperboy999]

Too funny. I do the same thing. not to that extent but close.

[FocusedAndDetermined]

I agree!  If you properly process the information contained here, it will transform your approach to credit.

[tk_0014]

I can't agree more. Ive been lurking here a while and I find myself exited to pay my credit cards instead of dreading it! Its turned into quite a game. Plotting my way to excellent rating and best rewards with every use and every time I pull out a card. Barring a huge emergency I doubt i'll ever be tempted to get over 30 percent utilization again.

[gmason]

Downside ... I just gave my wife a hard time about not using Chase Freedom for fast food.

But she could have earned at least 50 cents more with the Freedom. I don't think it was worth bringing up. I'll have to give this more thought on at least how to approach the subject. 

[LS2982]

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@gmason wrote:

Downside ... I just gave my wife a hard time about not using Chase Freedom for fast food.

But she could have earned at least 50 cents more with the Freedom. I don't think it was worth bringing up. I'll have to give this more thought on at least how to approach the subject. 

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[09Lexie]

That's a good one!