cancel
Showing results for 
Search instead for 
Did you mean: 

Credit Gardening..?

Frequent Contributor

Credit Gardening..?

I am fairly new to this website and I keep seeing everybody saying that they are gardening till a certain date?

 

What does that mean?

 

Thanks!

In Wallet 03/15/2017: CSR $11,000 | Chase Freedom Unlimited $6,000

In Garden Until 2019
Message 1 of 13
12 REPLIES
Moderator Emerita

Re: Credit Gardening..?

Welcome to the forum! Gardening is a term we use to allow baddies to fall off, inq's and new accts to age before applying for new cc's. Goals are set and the 'dates' are reflective of those goals.
Message 2 of 13
Highlighted
Moderator Emeritus

Re: Credit Gardening..?

Yes to what Lexie just said. The idea is that lenders want to see how you're managing your current accounts. If you've just applied for a bunch of new accounts, they have no idea how well you'll be managing them until they've gained a bit of history. This is especially important if you don't have a very long history, showing other old, well managed accounts. Thus the term "gardening" -- you just sit back and allow what you have to take root and grow.


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 3 of 13
Regular Contributor

Re: Credit Gardening..?


xgac12x wrote:

I am fairly new to this website and I keep seeing everybody saying that they are gardening till a certain date?

 

What does that mean?

 

Thanks!


For those who are new to the concept of gardening, it involves refraining from applying for new credit or seeking CLIs that require hard pulls. Soft pulls CLIs, however, are not only acceptable, but are encouraged. The idea is to allow one's current TLs to grow and mature, waiting for inqs to age or fall off, and possibly waiting for "baddies" to be removed or age off. During this time, one tends to one's current accounts and watches their AAoA grow and the new credit ding fade.

 

From here: http://ficoforums.myfico.com/t5/Credit-Cards/Garden-Club-Meeting-July-2013/td-p/2259577

AMEX True Earnings (14k) || Discover IT (10k) || Chase Sapphire Preferred (6k) || Chase Freedom (6k) || Citi ThankYou Preferred (6.3k) || GE CareCredit (4.9k) || Citi Double Cash (4.9k) || Sallie Mae (4k) || Best Buy (2k) || AMEX Blue Cash Everyday (2k) || Target REDcard (1.5k)
Message 4 of 13
New Member

Re: Credit Gardening..?

yeah i caught on to that quickly myself. I'm technically in the garden until 3/15, but reality is i'll be in the garden for another 2 months while i'm still applying for a job and finding myself a home haha

My Wallet:
Wal-Mart Credit Card: $2500 (opened 10/2010) Wal-Mart Discover: $1500 (opened 3/2013) Southwest RR: $5000 (opened 2/2013)
Citi Diamond Preferred: $1400 (opened 2/2013) Capital One Business Spark: $500 (opened 6/2013) PayPal Smart Connect: $3000 (opened 12/2010) Discover IT: $1000 (opened 2/2013) Woodforest Bank: $1500 (opened 3/2013) Wells Fargo Cash Back: $1000 (opened 3/2013)
Message 5 of 13
Frequent Contributor

Re: Credit Gardening..?

Oh okay thanks. Yeah I'm trying to build my portfolio as well managed as possible, not applying too often, and not over utilizating the cards I currently have. I got my Discover it card back in March of 2013, and just recently got my Capital One Secured (06/13), and I am looking to get another in the future and then stop applying for a while as I am leaving for college soon. How long do you guys think I should wait before applying for a new unsecured credit card, and what card do you guys recommend? Something with no annual fee, maybe rewards, doesnt matter to me though. Currently have a 666 ex score with no late payments, etc 

 

Thanks 

In Wallet 03/15/2017: CSR $11,000 | Chase Freedom Unlimited $6,000

In Garden Until 2019
Message 6 of 13
Frequent Contributor

Re: Credit Gardening..?

Try to let only one card report balance (1-9% util). You should be able to get CapOne Newcomer card in 6 months time. Try for discover cli first and let it report and then apply for any new cards. Discover is one the best rewards card in the market.

 



PNC Secured 2000 (Dec12), Chase Amazon 2000 (Apr13), CapOne Newcomer 2500 (May13), Citi dividend 3000 (May13), Discover IT 1000 (Jul13), Amex BCP 6000 (Jul13), Chase Southwest 10000 (Jul13), Chase Marriott 12000 (Oct 13), BofA Travel Rewards 5000 (Dec13)

- In garden till Dec 2014
Message 7 of 13
Frequent Contributor

Re: Credit Gardening..?

So I should close the Secured Cap one and open the newcomers capital one? Thanks
In Wallet 03/15/2017: CSR $11,000 | Chase Freedom Unlimited $6,000

In Garden Until 2019
Message 8 of 13
Frequent Contributor

Re: Credit Gardening..?

How long does it for an inq to go away?
In Wallet 03/15/2017: CSR $11,000 | Chase Freedom Unlimited $6,000

In Garden Until 2019
Message 9 of 13
Valued Contributor

Re: Credit Gardening..?

1 year it affects FICO scoring

2 years for the inquiry to fall off your report


Last Pulled EQ: 809
Last Credit Card App: 02/05/2016
Last CLI: 02/06/2016
Find Me: Gardening
Message 10 of 13