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
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website for travel articles, updates, and giveaways. Until next time, travel safe
and travel smart.