Interesting journey so far. The "roller coaster" ride you've been on is the result of your relatively thin file. As your file grows and ages, the variation you've been seeing will diminish over time. A thicker file tends to stabilize your credit and make your file more resistant to changes. Things like HPs will no longer result in wild fluctuations in your scores.
My auto loan activity at the end of the year is a case in point. I had four or five HPs and my scores didn't change at all. When the new car loan reports, I'll see a change but it won't be anything like the variation you've experienced.
Keep up your good work!
@Anonymous wrote:You should get an additional +10 points just for managing those 20 cards in your signature. And another +5 for using Excel.
Haha! The CC utilization spreadsheet is the only way I can keep track of % utilization, payment due dates, and statement dates. Each of the 20 cards has its purpose in life, but it can get confusing. I actually keep a separate spreadsheet that notes when I originally acquired the card, the date of my last CLI (if any), and the bonus points accrued for spending on various things. I'm considering putting together a monthly index card reminding me which card to use for which purpose!
For example, the Amazon Prime card generally gets used only two places: Amazon and Whole Foods. Ordinarily, I pay for groceries with the AMEX BCP card to get 6% cashback. However, this quarter Discover is paying 5% cashback at grocery stores and my newest Discover card matches that, giving me essentially 10% cashback. So all groceries this quarter are going on the new Discover card. Gas generally goes on the Costco card for 4% cashback or AMEX BCP for 3% back. Travel and dining goes on the Chase Sapphire Reserve card, except business travel which goes on the Chase Ink Business Preferred card (both pay 3X UR points per $$ on travel and dining). The AMEX Platinum card is mostly reserved for emergencies. And so forth...!
@Anonymous wrote:
Tomorrow I will get gas at Costco using the Citi card for the first time, and I was wondering: since the Citi card has our picture on it and doubles as the Costco membership card, do you still have to swipe the member card first before waving the Visa in front of the pump?
Not sure, but I know the gas pump at Costco always asks you to scan your membership card first. I've never scanned the Costco VISA first. But it's a good question. Maybe other Costco members have a better answer?
Incidentally, if you're an Executive member, don't forget that Costco does not count gasoline purchases towards your annual 2% rebate. Of course, you're earning 4% cashback by using the Costco VISA card to purchase gas anyway; you just don't earn an additional 2%. On a related note, ordinarily your annual membership dues don't count towards the 2% rebate either. However, if you pay your dues using the Costco VISA card (default unless you opt-out), the dues will count towards the annual 2% back via the credit card.
The Executive membership costs twice the price of a $60 regular membership (which pays no rebate). So the math is easy: You have to spend at least $3,000 per year at Costco (not counting gas and other non-qualifying purchases) to break even. I easily do that considering that I buy all my tires at Costco as well as other big-ticket items. And if you put all Costco spending on their credit card, Executive members essentially earn 4% cashback on nearly all Costco store and online purchases! So Executive members who are also Costco VISA cardholders need only spend $1,500 each year at Costco to break even.
I use the Citi Costco Card at the pump as my main method to purchase gas.
You do not need to use the membership card- the Citi card works as both membership & payment.
