Credit Cards

[bbrannan]

Been a longtime reader of this forum but only recently started posting anything. Have gotten a lot of excellent advice that I have followed and had great results. Now it is time for me to take the next step...time to garden. I have been fortunate to have gotten a couple of decent cards and have my mind set on a mortgage in or around May 2013. So - time to garden and let my scores grow....

[webhopper]

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bbrannan wrote:

Been a longtime reader of this forum but only recently started posting anything. Have gotten a lot of excellent advice that I have followed and had great results. Now it is time for me to take the next step...time to garden. I have been fortunate to have gotten a couple of decent cards and have my mind set on a mortgage in or around May 2013. So - time to garden and let my scores grow....

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Welcome to the Garden~!

[webhopper]

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Roarmeister wrote:

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webhopper wrote:
@roarmeister

Are you gardening for the purposes of a refi too?

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Not specifically, but with the overall intent of keeping my history clean.  I was in the early stages of thinking of renewing or refinancing early to lock into a low cheap rate.  My aniversary is May 2014 but with the "mortage rate wars" by Canadian banks and the real possibility of rate increases next year, it's something to think about.  Right now I am on a variable 3.6% (unchanged in over 2 years) and some of these banks were throwing numbers around of 3.29-3.75% for 5 yr fixed. My score has risen from the roughly 700 when I got the mortgage to the low 800s so I didn't get the lowest rate possible.  A buddy of mine has a variable 3.1% with the same bank.  So I'm a little bit jealous. 

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My sister was quoted 3.5% on a new FHA mortgage. I was very jealous.  My conventional mortgage closed on a 20yr at 3.875%.  Looking for 3.5-3.75 for an FHA streamline refi... the FHA mortgage I'm looking for a refi on is currently at 6.125% for the duplex.

[Smerri1029]

Gardened in June and am going to continue to garden through July and further. Hopefully through until December or January when I will refi my auto loan and that will be it until my next mortgage.

[tcbofade]

Day 26 for me.

[LS2982]

My gardening so far has paid off nicely!!!!

GE LUV!!!!!!!!!!!!!!!!!!!! (separate thread)

Loving it!!!!

[webhopper]

Congrats LS! Very nice! Did you click monkey buttons or call in?

[mistabgeez]

Hello everyone. This is my first time posting to the forums. I have been looking at everything for a few weeks and the wealth of information here is outstanding. There is so much I have learned so far and definitely look forward to this process of 'gardening'.

I purchased a home back in November 2011 and never really considered acquiring many credit cards or using them in a way that would maximize their benefit to me. When I purchased my home I had one CU Visa for $500. I applied for a Chase Freedom card in December and received a limit of $1500. In March I applied for an M&T card only because they had a 0% BT rate and received a limit of $2500. The thought never occurred to me to be selective in my credit card choices to bolster my rewards and credit. After looking at these forums I am excited to see how promising proper use of my cards can benefit me.

Since looking at the different advice given in various posts, I recently asked for credit increases to two of my cards. My limit was increased from $500 to $2500 on my CU Visa and Chase increased my limit to $2000. The CU pulled my Transunion score which was 702. Equifax is currently at 678. Upon viewing many of the posts, I then applied for a Discover More card. Discover approved me for a limit of $2000. My utilization has dropped from 25% to 12% by requesting a couple of CLI's and a new card.

Now I am excited to develop my garden. There is only one other card I currently have an interest in and that is the AMEX BCE. My intention is to garden until approximately November, and then request CLI's with Chase and Discover, and apply for the AMEX BCE.

Does anyone know what the minimum requirements AMEX requires for new applications? I was going to apply when I was approved for the Discover More card but decided to wait. I only have two negatives on my report currently, a CO that is paid and a student loan from ACS that has been current for the past three years, but has many 30, 60, and 90 lates on it from four years ago. As part of my garden maintenance, does anyone know of any way I can get those removed and have this negative turned positive?

[journey258]

I HAD to something creditwise, so as my 4th statement has cut, I requested a increase on my JC Penney card. I requested $1500 increase, was denied that, but was countered with $500. So my limit has gone from $1200 to $1700. I don't shop at Penney's very often, really only applied for a discount (I know, I know) but this will help with utilzation if nothing else.  

And I've successfully scratched today's itch...

[discernment]

Getting ready to celebrate Independence Day and, I'm also celebrating having REAL credit cards besides the 3 secured cards that gave us our start back into the world of credit.  No need to app for at least 6 months (I'd like the Chase Sapphire Preferred to complete our Chase Trifecta) so in the meantime, I'm back in the garden enjoying the REWARDS from Chase, Discover, American Express, our Credit Union, USAA Bank etc.... The rewards are adding up FAST and I'm lovin' that-- 

All this and CLI's too...