Credit Card Workflow
These are the steps I go through after receiving a new credit card in the mail.
Over the years, I’ve accumulated a few habits with regard to financial accounts. Credit cards used to be straightforward to get up and running:
- Activate the card by calling the number on the sticker.
- Sign the back.
Now in the digital age, I try to keep my card information synced to all of my devices and accounts. I like having the ability to pay for things without actually having the card on me, or use Apple Pay with my iPhone or Apple Watch, or automatically pay bills and keep track of spending, or be alerted of any fraudulent charges right away. So here is my new and improved workflow for what I do when I get a new card:
- Activate the card by visiting the website on the sticker.
- Sign the back.
- Enter the card’s information into 1Password so I never have to have the physical card to make payments at my computer or on my phone. Data is encrypted and synced through Dropbox (with two-step verification for security).
- Scan card into the iPhone Wallet app for use with Apple Pay. Apple Pay is way more secure than swiping the card, and even more secure than chip cards because of the way all personal account numbers are hidden from vendors by randomly generated IDs for each transaction. I always prefer it and ask if it’s available if I see the little icon. (Note: You will have to do this separately for the Apple Watch and any other devices since secure data is not shared)
- Create account on the credit card’s website and link it up with your checking account to auto-pay the balance each month.
- Add account information to Mint and Personal Capital. Mint is great for keeping track of all my accounts, including checking, savings, investments, and credit cards, and gives me a bird’s eye view of my financial situation. I started using Personal Capital more recently for added redundancy with Mint just in case Mint is ever inaccessible, and it also serves as a nice sanity check in case some numbers are ever off.
- Download the iOS app for the credit card company if there is one available (I have cards from Citi, Chase, and Capital One) so I can receive push notifications for each transaction. I like to know right away when I am charged for something and make sure that it’s correct. Also this is great for being aware of any monthly subscriptions you might have since a random notification during the day is a lot more jarring and grabs your attention more than if you just review all the charges on your bill at the end of the month (which I’ve since stopped doing).
- Add account information to Prosper Daily (formerly BillGuard) on iOS. I love this app for keeping track of my credit card spending, and every few days, there is a little badge notification for all recent charges to verify. This forces you to go through the charges once again in case you missed it the first time or find something you need to follow up on.
It may seem like a lot of work, but the convenience of having my cards synced makes it worthwhile to me. There are so many people who put their finances on autopilot, unaware of monthly subscriptions that they may no longer use, sometimes overcharged when shopping, or even taking a few billing cycles to discover fraudulent charges. I hope this article helps shed some light on how to stay on top of finances in the digital age and brings awareness to some of the tools out there.
