Saturday, 15 January 2022

How to Keep Track of Your Credit Cards | Our Favorite Tools for Staying on Top of Cards & Points

How to Keep Track of Your Credit Cards | Our Favorite Tools for Staying on Top of Cards & Points
15 Aug

Hi there, it's Ernest from Trip Astute In this video, I'm going to show you how I track all my credit card accounts, and share the tools that I use to keep it all organized

(light chiming music) Those of you that are points and miles collectors know that it can quickly become a challenge to keep track of all your cards This is especially true when trying to evaluate whether you want to keep a card with an annual fee, or when planning out which new cards you want to apply for Today, I wanted to take a step back and share some easy and quick ways to keep track of all your credit cards Also, I have a freebie that I want to share, but I'll get to that later So, let me run through the tools that I use to keep track of all my cards

Number 1: Google Sheets When it comes to keeping track of all my credit card accounts, I use Google Sheets to log all my current and past accounts The spreadsheet that I use includes basic information like account status, card name, type, and issuer However, I also log information like whether I plan to keep the card, the annual fee, whether it's a personal or business account, the opening and closing dates, and any annual renewal benefits This gives me a nice snapshot of all my accounts and I can easily see what cards I've used and the benefits associated with each one

Also, I love that I can quickly calculate my total annual fees for the year and plan accordingly Number 2: You Need a Budget There are plenty of tools out there that you can use to keep track of your budget and spending I've actually been using You Need a Budget since 2009 and it's been a great tool for me to use, especially with this hobby The budgeting software is like a digital envelope system

What I mean by that is that it's like the traditional method of budgeting where you set aside cash into an envelope for that specific budget So, I might set aside $300 for groceries and if anything is left over, it carries over to the next month Or if I overspend, I might move money from one envelope to another The reason this works great for the points and miles hobby is that I always know how much I'm spending And it shifts the way I think about spending on my credit card

Instead of worrying whether I can spend the money on the card, I'm more focused on whether I have money to spend in that budget As long as there's money in the budget, then I know that I'll be able to pay the credit card in full There's a lot more to You Need a Budget and I should probably do a video on it in the future Keep in mind though that I'm using the old version and have not upgraded to their new version, but I'm hoping to do so soon Also, You Need a Budget isn't the only software out there, and there are plenty of other apps and tools that you can use to keep track of your spending and accounts

Number 3: Credit Karma We recently did a video on how to check your Chase 5/24 status using Credit Karma Definitely check it out if you need to see whether you opened or closed an account I generally check my credit score weekly, and I use Credit Karma to keep track of my credit score and health It's also a good way of knowing whether your account history is correct and if there's anything that might need to be corrected in your credit record

Number 4: Todoist There are a ton of different free and paid reminders services and apps out there I just happen to use Todoist for my normal work, so I use it to help manage my credit cards as well While I've set up auto pay on all my credit card accounts, I do set up reminders for things like signing up for quarterly bonus categories, evaluating and potentially canceling credit cards with annual fees, and due dates for meeting minimum spend requirements With life being so busy, it just helps to have something remind me when I have to do something

What tools do you use to keep track of your credit cards? I'm always looking for new tips and services, so let me know if you have one that works well for you I've included the template of my Google Sheet in the video description below Though let us know if you have any questions on anything that we covered in this video If you enjoyed this video or found it useful, please hit the "like" button and consider subscribing Also, sign up for our newsletter on our website for travel articles, updates, and giveaways

Until next time, travel safe and travel smart

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