4 ways to manage your spending on multiple credit card accounts

09.09.2024 - 20:48 / thepointsguy.com

Credit cards can be powerful financial tools.

When you use them wisely, your credit cards can help protect you from fraud, earn you valuable rewards like cash back and points toward travel and help you build a good credit score over time. On the other hand, if you don't responsibly manage your cards, bad financial habits could hurt you.

It goes without saying that you need to pay your credit card bills on time and in full every month to get the most out of your accounts (and to avoid damaging your credit score). The secret to accomplishing these goals is a sound budgeting system.

You need a consistent, easy way to track your credit card usage — especially if you have multiple accounts. Read on for four expert tips that can help you keep tabs on your credit card spending and payments. When you track your spending correctly, your credit cards can provide you with another helpful perk — an easier way to manage your money.

Whether you have a single account or many credit cards, it's wise to set up a system to track your spending so you can stay within your budget each month.

Thankfully, many apps are available to help you see all of your credit card activity at a glance, and then some. Here are a few of the best.

Our very own The Points Guy app provides a free and easy-to-use platform that lets you track all of your credit cards in one convenient place. Not only can you view how much you owe on each of your accounts, but you can also track the purchases you make by category. This makes it easier to stick to your monthly spending goals and figure out which cards you should use for which purchases to maximize your earnings.

The TPG app features tools to help you earn more points — and redeem the credit card and loyalty rewards you do have — for the most value as you work toward your travel goals.

Best for: Credit card users who want a free, convenient system to manage spending and maximize rewards earning potential.

Qube Money is more than a money management app. It's an online bank with a digital money management platform. The app is available in a free version, a premium version for $9 per month if billed annually or $12 if billed monthly and a family version for $15 per month if billed annually or $19 per month if billed monthly.

Your Qube Money account pairs with a debit card that you must "unlock" before each use. However, you can use a workaround to pay with your credit cards instead — a smarter choice than debit cards in many (if not most) cases, especially where fraud protection is concerned.

Here's how to use the app's spending tracking while still paying with credit cards. First, create "qubes" with your monthly variable spending goals, e.g. $600 for groceries, $400 for gas and $250 for dining.