Credit Cards

[jla84]

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tinuviel wrote:

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jla84 wrote:

Feeling the pull to app for that new US Bank card. Hold me back!

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Ok, here goes...

Why are you in gardening mode; what goal are you trying to accomplish? Will apping for this card hamper that goal? If yes, then stay away from the app button, focus on your goal and stay away from the app button. If no, then go back to my starting question: why are you in gardening mode?

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Thank you!

I am gardening so that I can maximize my approval chances and credit limit for the BCE. I think I'm feeling "weird" about not having a dedicated groceries reward card since cutting my Cap One, and that feeling is probably what is leading to my feelings of app restlessness.

Right now I'm trying to weigh the new US Bank card against the BCE: while the US Bank card may give 5% on groceries/drug stores/whatever I choose, the newness means that no one knows if they will change the categories in the future; while the BCE is a dedicated 3% groceries card and has been for some time. I'll also have to remember to sign up for the US Bank card categories quarterly. Most important, my CRs are not up to snuff right now for maximizing approval and credit limits for either the BCE or US Bank (utilization is fairly high as I'm carrying a balance on PenFed and have not been paying before statement cuts). 

I'll have to remind myself that I can always sign up for it in October along with the BCE if I still really want it. Then I'll have a better idea of what the new US Bank card is doing and whether it will be beneficial for me to have in my card portfolio. 

[tinuviel]

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jla84 wrote:

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tinuviel wrote:

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jla84 wrote:

Feeling the pull to app for that new US Bank card. Hold me back!

---

Ok, here goes...

Why are you in gardening mode; what goal are you trying to accomplish? Will apping for this card hamper that goal? If yes, then stay away from the app button, focus on your goal and stay away from the app button. If no, then go back to my starting question: why are you in gardening mode?

---

Thank you!

I am gardening so that I can maximize my approval chances and credit limit for the BCE. I think I'm feeling "weird" about not having a dedicated groceries reward card since cutting my Cap One, and that feeling is probably what is leading to my feelings of app restlessness.

Right now I'm trying to weigh the new US Bank card against the BCE: while the US Bank card may give 5% on groceries/drug stores/whatever I choose, the newness means that no one knows if they will change the categories in the future; while the BCE is a dedicated 3% groceries card and has been for some time. I'll also have to remember to sign up for the US Bank card categories quarterly. Most important, my CRs are not up to snuff right now for maximizing approval and credit limits for either the BCE or US Bank (utilization is fairly high as I'm carrying a balance on PenFed and have not been paying before statement cuts). 

I'll have to remind myself that I can always sign up for it in October along with the BCE if I still really want it. Then I'll have a better idea of what the new US Bank card is doing and whether it will be beneficial for me to have in my card portfolio. 

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Well, there's your answer right there. Whichever card you choose, you need to garden for the maximum chance of approval. Apping now MIGHT work out, but it might not; then you'll be stuck with a wasted inq on your reports. It's better to get your util down and get your reports where they need to be, THEN shoot for the card you want. Until then... garden, garden, garden.

[webhopper]

Still app free since March   with the exception of a HP that the security system company did on my TU account in may  when I installed security systems

Resisted the urge to app for a Park West Gallery  account and a Carnival MC while on cruise.

[jla84]

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tinuviel wrote:

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Well, there's your answer right there. Whichever card you choose, you need to garden for the maximum chance of approval. Apping now MIGHT work out, but it might not; then you'll be stuck with a wasted inq on your reports. It's better to get your util down and get your reports where they need to be, THEN shoot for the card you want. Until then... garden, garden, garden.

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Definitely! Feeling better now. Gonna let my pessimistic, paranoid side take over for this one until October. Thanks!

[Education44]

I'm hoping I will be out of the gardening mode at by the end of the year. Although my scores have improved dramatically, I still have on old charge-off I'm trying to goodwill off my reports and an account with several lates. Also, I won't have any inquiries and my new accounts wil have aged sufficiently by the end of December.

[tonyaether]

Checking in...still in the garden. I think this is day 49. I don't plan to try for anything else any time soon. I paid off more of my Citi BT this month so I am pretty pleased with that. I thought I would get a score boost with being under 9% on only 1 card, but I didn't:-( But regardless I am happy that I am sticking to the plan. Maybe I will see some increases later this year once my newer card accounts reach 4-6 months....Regardless though, I don't plan to seek any new credit until at least 2013. I did get small CLI's in May on my Citi Forward and Amex BCP so those are out of the question for increases until late Dec. anyway.

[tcbofade]

day two! 

Two whole days in the garden.... 

[ssp]

Whew! I'm baaaaack and checking in after stepping out. I didn't really have a need to garden when I first picked up that shovel lol I was way

ahead of myself on that. However, I had a much needed mini app spree and weeded out an old starter card and now I am ready to make this credit work for ME!

My AAOA took the biggest hit but I'm VERY patient and that will be ok in time..*picks up watering can* come on and grow for me!

Happy Gardening!

[psychoinhell]

I am still chilling in the garden, too busy drinking to be concerned about how my weeds are growing alongside my flowers

I am planning on getting rid of some weeds in the future though and really do not have anything that resembles an app itch.  Getting those two HPs from joining two CUs at the end of May left a bad taste in my mouth.  My score is still waiting to be hit by 3 of the 4 new accounts I opened last month, so definitely no app itch going on here.  Staying focused on my plan for BCP next June.  I am even losing my desire to have 53 cards so I can play solitaire with plastic.  I look at my collection and think I want only about 10 cards.  The benefits from many prime cards outweigh any benefits I get from most store cards.

[delayedinsanity]

It's almost been a month... Feels like longer given that I've already made two or more payments on each account! But I guess not so long at all yet. No urges whatsoever, I'm pretty happy with what I've got.

How about this for strange though, I got an unexpected and unrequested CapOne CLI today. Brings my lower card up from a measly 300 to a slightly less measly 500. Still no plans to use the card for anything but the randomness of it is what surprised me!