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TPG reader Brycia emailed me to ask:
“With so many credit cards, how do you keep them organized? Do you carry all of your active cards with you at all times? Do you have a huge credit card wallet? Or do you leave some at home and only take some with you?”
I’ve got about 25 active credit cards, and I certainly don’t carry them with me everywhere I go, or else I’d have a George Costanza wallet. First of all, I always carry any cards that I’m trying to use in order to meet a minimum spending requirement, as well as my favorite go-to cards like the Chase Sapphire Preferred or the Barclaycard Arrival Plus, since I use both of those on a daily basis.
As for all my other cards, I have a big credit card wallet that I keep with me or locked up at home.
Other ways that I stay organized electronically is to put all my cards in the TPG To Go App. It keeps me up to date on payment due dates, and helps me make sure I don’t miss any. It’s also a good idea to make your payment dates all the same so you only have to tend to it once each month. You definitely never want to have a late payment. If you do, make sure you call the credit card issuer right away. They’ll often wipe it from your report if it’s the first time, and if you ask nicely, they may even wipe out the late charges as well.
One other option is to use mobile payment options like LoopPay and Apple Pay, or special electronic cards like Coin and Plastc. See Jason Steele’s post from yesterday for more info on these options.
It’s not too hard to manage your cards if you set things up in an orderly fashion. If you stay ahead of payments, keep them all in one place, and monitor your activity to avoid fraud, and you should be fine.
Chase Sapphire Preferred® Card
|Intro APR||Regular APR||Annual Fee||Foreign Transaction Fee||Credit Rating|
|N/A||16.24%-23.24% Variable||Introductory Annual Fee of $0 the first year, then $95||0%||Excellent Credit|