whocares Posted November 21, 2007 Report Share Posted November 21, 2007 I need to stop applying and get a handle on things...anyone else this wayI was approved for Dell today too...1500.00 but the interest will keep me from buying much...they had a 399 laptop I wanted then it said it was SOLD OUT...How do ya'll keep track of your cards and stuff...and how do you keep from applying? Link to comment Share on other sites More sharing options...
zfire Posted November 21, 2007 Report Share Posted November 21, 2007 You know what? I just don't apply for anything. I look at it like this:If I can't pay for it, unless it is something really really needed, I am not going to buy it. If one can live with very little credit for years, just becausethere is new credit available, there's no reason to go out and use it. ..or should I say charge to the max, and then have a bunch of bills show upin a few weeks......Use each card once or twice, pay off asap, then let it rest a while.I don't put them in the sock drawer, because the whole object of havinga MC with a good sized TL is so that if an emergency happens, I will have ithandy.There is such a thing as too many open TL's I think. Z Link to comment Share on other sites More sharing options...
merkurfan Posted November 21, 2007 Report Share Posted November 21, 2007 Freeze your reports. That way your stuck in a wait mode for them to open for them to pull. By the time that happens, you won't want the item anyways Link to comment Share on other sites More sharing options...
whocares Posted November 21, 2007 Author Report Share Posted November 21, 2007 Great suggestion Merk, Thanks Link to comment Share on other sites More sharing options...
jq26 Posted November 21, 2007 Report Share Posted November 21, 2007 How do ya'll keep track of your cards and stuff...and how do you keep from applying? All but one of my credit cards is in a safe and not used. They are all in there with mortgage papers, life insurance policies, and all of the other crap I need but don't want to ever really have to use. Out of site, out of mind. Link to comment Share on other sites More sharing options...
merkurfan Posted November 21, 2007 Report Share Posted November 21, 2007 Every kay card I have is at my mothers with a few other cards I never use.What keeps mom from using them? she does not even know they are there! Link to comment Share on other sites More sharing options...
LVMortgageMom Posted November 22, 2007 Report Share Posted November 22, 2007 I was just thinking the other day that my 2 greatest fears in life are heights and debt. I hate owing people/companies money. I understand that having these TL's is what is needed to be successful at this game, but I sure wish I could live on cash alone. Link to comment Share on other sites More sharing options...
Dre Posted November 22, 2007 Report Share Posted November 22, 2007 Just use only one or 2 cards and put the rest in a sock drawer. I use one credit card like it's a ATM card; pay it off at least once a week or every time I make a charge on it from my checking account. The other card: is ONLY used for emergencies (it has the biggest CL, and I don't mind paying month to month if it was something IMPORTANT/NEEDED). Hope this helps; it helped me out a lot. Link to comment Share on other sites More sharing options...
CleverCynic Posted November 22, 2007 Report Share Posted November 22, 2007 I went from 2 credit cards to 7 in about the last 3 months. I created them all as separate accounts in quicken and input each purchase/entry exactly the same as I do for my checking accounts, so it's always top of mind. I also scan each of them to make sure it hasn't been more than 30 days since the last time I made a payment, and so far I've been able to pay something the exact day the statement is available, so I have a little wiggle room. All my cards have relatively low balances to limit ratios, but I am discovering that I am spending more than I usually do and right now the amount I have in checking is almost exactly what it would cost to pay all the cards off. I tell myself that means I'm broke and will try to make that work. The other thing is, I don't use my bank-issued debit cards anymore which I used exclusively a few months ago... i always put my purchases on a card to keep them in use. I'll re-examine if this is a good idea after a couple of months. My checking balance is higher than usual because of this, but as I said I'm still technically just breaking even if I were to PIF monthly. With Quicken or MS Money, it's easy to tell in a glance and I highly recommend it. Link to comment Share on other sites More sharing options...
pointman Posted November 22, 2007 Report Share Posted November 22, 2007 I've gone from only being an AU on a couple of my DW's Visas and MCs to having a couple of my own for each, plus Target, Macy's and the Sterling Gang. I rarely carry my long established Sears and JCP cards, I keep them in my safe with their buddies... I carry my Hooters, Juniper, Cap One and Target. I've used each of them only once, except for about $650 total over multiple travel expenses on Cap One. All are PIF except C1 which is 0% interest until May and now down to $205.I keep track of them by creating an account on their respective websites and using their statement and transaction features. I like being able to schedule the payments in advance and setting the alerts to email and text me when payments are due and when they have posted. The credit companies have given me every opportunity to discipline myself and keep a grip on my NEW credit.I should eventually get a few CLIs on the current cards or build up enough to get better cards with higher CLs, then I'll scale back a bit and carry only the higher limit cards for maintenance and emergency use.Edit: whocares... How could I have been so remiss in not congratulating you for joining the 700 Club?!? Good Job! Link to comment Share on other sites More sharing options...
Recommended Posts