Credit Cards

[SnackTrader]

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RyVision wrote:

Well, less than 2 weeks from it and I didn't make it to the Gold Spade this month.....

The NFL $400  came up again and "got me" LOL  

I was still in debate mode since the last time I saw the offer and it closed.  When it was made available again I just couldn't resist.  I felt the $400 was worth leaving the garden and taking an INQ on my TU (which is where it hit), so TU is now at 6 (though it was at 5 at first when it reported).   At least 2 of said INQ's fall off in April of 2013 and 2 others I think are over a year old (I'd say I'm not doing TOO bad on INQ's... I hope).

Was at first denied (no email sent) when I applied,  then called and spoke with a CA and approved for 5K Signature\Flex after a couple questions.  I also think that was worth leaving the garden and taking the INQ for.

Being it's Barclays, I know I'll be getting my Gold Spade before applying for anything else (or risk losing the NFL card).  I'm just glad I was able to turn the INQ from "just an INQ" to an actual success of obtaining the card with the bonus.

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Congratulations!  Nice limit on top of the free money.

[SnackTrader]

Today marks 5 months in the Garden for me!  I will make it to the 6 month mark, because I have no desire to apply for anything until the Chase Freedom and Discover cashback categories are announced for 2013.  However, once those are announced, my itch may come back strong.  Anyone have any idea when those will come out?

I originally said my goal was January 2013 for new apps, but I might push that ahead to Christmastime once my Capital One reports 6 months of history.  It looks like I may need to take advantage of some 0% financing for early next year and use my current extra cash to pay down balances on student and car loans.  I'm very torn on the exact timing of the app spree because I'm just so used to Gardening.  It feels like sacrilege to add new inquiries after all this hard work.

Also, I still don't know my FICO scores because I'm avoiding pulling those so that seeing a number in the mid or (hopefully) high 700s doesn't push me towards applying early.

[tinuviel]

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Revelate wrote:

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germaine47 wrote:

Well, why is it so hard to stay in the Garden?  I am going to give it the old college try and stay in the Garden until May 2013 and if Chase haven't auto CLI me then I will ask.  I will carefully take care of my little sprouts with care and deligence. Good Luck EveryOne. 

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Generally people take an interest in making progress once they've decided to start fixing something, whether it be their credit report, or something like creating a credit card portfolio.  Gardening requires sitting on one's hands, which is tough for many people (myself included), and even worse, this forum is basically akin to someone trying to get sober while constantly sitting in bars.

It's not an easy road to walk being a member of this forum, and frequenting this board in particular, without seeing the glitter, glamour, and bright lights of the various approval threads and not be distracted; honestly I have complete respect for anyone who maintains an active membership on this forum and manages to stay "sober" in this metaphorical case. 

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This is why I think that it's so important to establish goals. Everyone's goals will be different, but they should be the product of analyzing what is beneficial to the particular individual.

When I first came to these forums, my goal was to get my scores into respectable shape and get approved for a decent set of cards that suited my needs. With the help of these forums, I'm both happy and proud to be able to say that I've accomplished my goal. But, I don't think that I would have done so well if I chased every credit card in site, just for the sake of seeing the words "Congratulations -- you're approved!" These forums have helped me to develop an appreciation of the effect that inqs, lowering of AAoA and number of new accounts has on reports and scores. Going after every shiny card in site -- especially before my credit profile was ready for a particular card -- would have had the effect of surpressing my scores, and would ultimately have been counterproductive.

So, I believe that it's important to set out goals -- and since this is the credit card forum, this includes deciding on what specific cards one wishes to acquire -- and focusing on how to achieve them. Otherwise, you're just wandering around aimlessly in the world of credit.

[jamesdwi]

Guess I should update, got my silver spade 90 days was easier than I thought it would be. No APs till the start of the year. Maybe not then. 

3 baddies fell off TU report this month, one INQ last month, not sure about the others have no reason to pull reports, not AP'ing. 

Still in the garden tending the cards. 

[tinuviel]

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jamesdwi wrote:

Guess I should update, got my silver spade 90 days was easier than I thought it would be. No APs till the start of the year. Maybe not then. 

3 baddies fell off TU report this month, one INQ last month, not sure about the others have no reason to pull reports, not AP'ing. 

Still in the garden tending the cards. 

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Lots there to celebrate -- congrats!!!

[Epcot]

Well.. I made it over 9 months in the Garden, but today at Disney I gave in to temptation. I had been having the itch for a while, I got my fill and I now step back into the Garden in shame. Letting my seedling grow back into the Gold spade I lost. Only consolation is that it was a successful wayward journey.
Glad to be back in the Garden!

[webhopper]

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Epcot wrote:

Well.. I made it over 9 months in the Garden, but today at Disney I gave in to temptation. I had been having the itch for a while, I got my fill and I now step back into the Garden in shame. Letting my seedling grow back into the Gold spade I lost. Only consolation is that it was a successful wayward journey.
Glad to be back in the Garden!

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Congrats!!! One more day and ill have another bronze spade to garden with! Maybe I can hang onto it this time! On a positive note; most of the mortgage inquiries are gone now!!!

[creditnocash]

15 more days for a silver spade! 

im tempted to get an installment loan though. 

10k at 1.99 percent. to build credit. but will obviously drop my aaoa. 

but think ill pass. 

[jamie123]

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tinuviel wrote:

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This is why I think that it's so important to establish goals. Everyone's goals will be different, but they should be the product of analyzing what is beneficial to the particular individual.

When I first came to these forums, my goal was to get my scores into respectable shape and get approved for a decent set of cards that suited my needs. With the help of these forums, I'm both happy and proud to be able to say that I've accomplished my goal. But, I don't think that I would have done so well if I chased every credit card in site, just for the sake of seeing the words "Congratulations -- you're approved!" These forums have helped me to develop an appreciation of the effect that inqs, lowering of AAoA and number of new accounts has on reports and scores. Going after every shiny card in site -- especially before my credit profile was ready for a particular card -- would have had the effect of surpressing my scores, and would ultimately have been counterproductive.

So, I believe that it's important to set out goals -- and since this is the credit card forum, this includes deciding on what specific cards one wishes to acquire -- and focusing on how to achieve them. Otherwise, you're just wandering around aimlessly in the world of credit.

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^^^^^^^^ That is some really great advice! ^^^^^^^

I see so many people here that don't think long term! I feel that any credit decision you make, should be made with all the long term ramifications taken into account, and I can't believe how fast other people make such rash decisions that will last for years. I mean, we're all on these forums to learn good credit behavior aren't we?

When all is said and done you really only want to posses 6 to 8 quality credit cards. That's 1 weekend of app sprees for some people!

One of the reasons I stick around the forums is so I can live vicariously through the app sprees of others though! It's kind of like slowing down to rubber-neck the car crash on the other side of the road!

[creditnocash]

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jamie123 wrote:

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tinuviel wrote:

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This is why I think that it's so important to establish goals. Everyone's goals will be different, but they should be the product of analyzing what is beneficial to the particular individual.

When I first came to these forums, my goal was to get my scores into respectable shape and get approved for a decent set of cards that suited my needs. With the help of these forums, I'm both happy and proud to be able to say that I've accomplished my goal. But, I don't think that I would have done so well if I chased every credit card in site, just for the sake of seeing the words "Congratulations -- you're approved!" These forums have helped me to develop an appreciation of the effect that inqs, lowering of AAoA and number of new accounts has on reports and scores. Going after every shiny card in site -- especially before my credit profile was ready for a particular card -- would have had the effect of surpressing my scores, and would ultimately have been counterproductive.

So, I believe that it's important to set out goals -- and since this is the credit card forum, this includes deciding on what specific cards one wishes to acquire -- and focusing on how to achieve them. Otherwise, you're just wandering around aimlessly in the world of credit.

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^^^^^^^^ That is some really great advice! ^^^^^^^

I see so many people here that don't think long term! I feel that any credit decision you make, should be made with all the long term ramifications taken into account, and I can't believe how fast other people make such rash decisions that will last for years. I mean, we're all on these forums to learn good credit behavior aren't we?

When all is said and done you really only want to posses 6 to 8 quality credit cards. That's 1 weekend of app sprees for some people!

One of the reasons I stick around the forums is so I can live vicariously through the app sprees of others though! It's kind of like slowing down to rubber-neck the car crash on the other side of the road!

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agree completly. 

righ now i have 9 cards which i plan on slashing down to about 5. eventually only keeping 

amex zync/ apping for true earnings

chase freedom 

1 bank card. (mastercard)

Upgrade to walmart discover. 

and then ill be done for a while. 

i can honestly say at the beginning of the summer i applied for any cards that i saw useful? i guess. 

looking back at it now i dont need the ae, i still would have gotten rewards. 

kohls i can slash but keep it around since its no af, and the random 30% offs. 

all others are sd. 

a couple of years of effect isnt that bad in retrospect but its 2% of your life if you live to be 100. 

and 7% if something doesnt go the right way (late,chg off etc...)