How should I handle spending on my cards?

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forrestst
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How should I handle spending on my cards?

Postby forrestst » Mon May 29, 2017 7:28 pm

What I would consider my best card is a Cap1 Platinum card with a $750 CL. My next best card is my FNBO platinum Visa card with a $300 CL. It's a difficult card to use because of the low CL so I've actually considered stopping using it. Next comes my Menards big card with it's $3,700 CL.

I guess I should add this information, Victoria's Secret $350 CL and Overstock $250 CL. Both were opened in my name without my consent by another person, but I'm not sure how I would prove it. I wanted to close both, but my credit score just tanked because of a 90 past due with Overstock. I thought everything was taken care of months ago, but Overstock thought I owed them a small amount but couldn't send me a bill because of my problems getting mail. I never did get a card from them or any indication I had an account opened in my name. I wanted to report the fraud, but I caved and paid the bill because it was under $100 and they were days away from turning the account over to collections. It seems they had a google voice phone number on file that I no longer use and an E-mail that I haven't used in years.

My question is, should I be putting as much spending as I can on the Cap1 card? There are no rewards so there isn't much incentive to and I keep reaching for my debit card out of force of habit. Is it going to matter if I just don't use the FNBO card? I could put a $10 charge on it each month, but does it matter at this point? Menards I charged $33 on last month but I'm not sure if that's enough.

Victoria's Secret and Overstock are examples of why I don't like store cards. I'm a guy so I don't buy anything at VS. Overstock, I can't decide if I should or shouldn't. This is what I hate about a store card like Sears for example. I've went into the store and they didn't have what I wanted, now what do I do, just buy something small I don't want or need so there's activity on my card? Now IMHO VS and Overstock are both worse than Sears. I'm really not sure I want to keep the VS card open, I'm a guy and I don't want someone thinking I a pervert when they check my credit. Now Menards, I've found a few things that I needed but am I spending enough for the amount of credit I have? I can't afford to loose any more points on my credit score, a few points lower and we're back to totally screwed. The way Menards is, I should be able to get another CLI in a few months.


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CarefulBuilder14
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Re: How should I handle spending on my cards?

Postby CarefulBuilder14 » Tue May 30, 2017 1:25 am

Go into VS, complain loudly that you can't find bras that fit, and max the card out buying a thong and several bottles of fragrance. Then run around the mall in the thong, spraying fragrance on as many strangers as possible until you get arrested.

Whatever you do, don't freeze your credit or monitor your existing accounts for further fraud.

(This is, of course, assuming the pattern of you ignoring the advice we give will continue.)

Joking aside...how you allocate your spending between Capital One and FNBO is not a big deal. It's like asking how to paint a boat that has a giant hole in the bottom of it...there are bigger problems to fix first. Don't spend unnecessarily, thinking the spending somehow improves your credit. Some of the cards may eventually close for inactivity, but by then you'll hopefully have better cards in place.

Whether you follow through to dispute the accounts/charges and file police reports is up to you. With mail problems and fraud, it doesn't sound like you're completely in control of some of the accounts, which would favor dispute and closure.

Was there also a Buckle card?
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

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kcm7
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Re: How should I handle spending on my cards?

Postby kcm7 » Wed May 31, 2017 9:18 am

CarefulBuilder14 wrote:Go into VS, complain loudly that you can't find bras that fit, and max the card out buying a thong and several bottles of fragrance. Then run around the mall in the thong, spraying fragrance on as many strangers as possible until you get arrested.

Whatever you do, don't freeze your credit or monitor your existing accounts for further fraud.

(This is, of course, assuming the pattern of you ignoring the advice we give will continue.)

Joking aside...how you allocate your spending between Capital One and FNBO is not a big deal. It's like asking how to paint a boat that has a giant hole in the bottom of it...there are bigger problems to fix first. Don't spend unnecessarily, thinking the spending somehow improves your credit. Some of the cards may eventually close for inactivity, but by then you'll hopefully have better cards in place.

Whether you follow through to dispute the accounts/charges and file police reports is up to you. With mail problems and fraud, it doesn't sound like you're completely in control of some of the accounts, which would favor dispute and closure.

Was there also a Buckle card?


Co-signed.
Cards:

-Capital One Quicksilver
-Barclaycard Arrival (no AF)
- US Bank (no rewards)
-IHG

forrestst
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Re: How should I handle spending on my cards?

Postby forrestst » Sat Jun 03, 2017 9:29 am

What I was getting at was my FNBO card only has a $300 CL and that's where the card is stuck possibly for life. It feels like using it is more of a hassle than it's worth. On the other hand I have the Menard's Big card with a $3,700 CL. The most I've used in any month is $300 and that was only once, I was starting to get concerned that I shouldn't be accepting these offers for a CLI when I'll never use that much. The way it's been going, they are likely to offer me another CLI in a few months and spending $33 doesn't feel right, but it's that thing with store cards where it's hard to use a card that can only be used at one specific store when you don't really need anything from that store or it's not always convenient to go there. I was told I should use my Cap1 card more, but there's no rewards so I see no advantage to reaching for the card when my debit card does the same thing.

As for VS and Overstock, I don't plan to use either, ever. The rest of the story gets complicated. My cousin called me and told me my mom had my girlfriend open a VS account, Buckle account and Overstock account in my name and he told me she ordered a small pan on the overstock account. Later UPS delivered a pan to my address, my girlfriend said she did order it but she paid for it herself . Later the VS card in my name came in the mail but no charges were ever made to the account and I didn't hear form The Buckle or Overstock.

Going back to November, it felt like I wasn't getting all of my mail, I couldn't quite put my finger on it but it seemed like I wasn't getting several things that I should be, but I was getting some mail. About the 1st of December, I stopped getting mail, box was empty. About that time somebody hand delivered a letter that had been returned to them, it had a yellow sticker on it that said "Moved, left no address" "Return to sender". I took that to the Post Office and they said the issue would be corrected in 7 to 10 days. I started getting mail again in January, then around the 1st of February, I stopped getting mail again. Since then I complained to the Post Master several times, but still no mail. I finally decided I needed to rent a PO BOX and forward my mail to the PO Box. So far I received a couple things, but I'm still having issues with some mail being returned. If I used my name, my physical address then the PO Box on the next line and the zip code for the PO Box, my mail will come to the PO Box.

So the other day I get a phone call at work from Overstock that I have a seriously delinquent account that needs to be paid immediately. I think the original bill was like $15, but they added $60 something in late fees. I broke down and paid it because I already had a 90 day past due on my record and they were threatening to send it to collections. They tried to send my a bill, but the bills kept being returned "Moved, left no address". They had my old google voice number on file that I haven't used in a long time. Currently it's not connected to any phone and I don't check it because nobody ever calls it. They also had an old email that I no longer use.

Should I still file a Police report? If so, what will happen? I have no real proof my girlfriend did it or that my mom was in on it except what my cousin told me and he lives in Kansas. My girlfriend denies it and she moved to Michigan. The only bill would have been about $15 had the Post Office not screwed up my mail. I checked Credit Karma and VS showed up a couple months ago but Overstock just showed up on there. It also shows my credit score went down 50 points.



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