Garden Club Meeting for May 2011

[Smerri1029]

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@Walt_K wrote:

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@Smerri1029 wrote:

Well I applied for a mortgage last month, am in the process of that (sign a P&S tomorrow) so I left the Garden to add credit but I will have a Town House to show for it. I am continuing to garden and build relationships with

American Express PR Gold - Opened 10/10 (Just booked my second free flight since I've had it - Love rewards points)

American Express Costco TE - Opened 03/11 - Backdated to 03/10 - Figured I'd have it to go with my Costco membership.

Citi Platinum Select MC - Opened 03/11 - Barely used, wanted to start a relationship with Citi

BoA Visa - Opened 10/10

Discover More - Opened 05/08 - Never use

Plus my Car Loan which I continue to pay off and my student loans on deferrment.

Added two inquires in April to EX and TU (EQ is still untouched) for the two mortgage pulls. Can't wait to get my mortgage and continue to garden my accounts (either that or apply for a Chase BA Card and get 100k miles )

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Need to act fast on that.  I think this offer expires this week.

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Well I will miss it then. Definitely not applying for any new credit with the mortgage stuff happening. Having that go smoothly is much more important to me.

Thanks for the heads up though, I brought it up to my father tonight at dinner, maybe it's something he could use.

[visorboy1974]

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@tinuviel wrote:

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@visorboy1974 wrote:

I'm still doing apps, but they're just for CLIs.  Does that still count as gardening? 

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I would think so, as you're tending to what you have. Hopefully, you can get a response with a soft pull. Even if you wind up with a hard pull, a request for a CLI won't muck up your AAoA. Good luck!

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Thanks!  My latest account is a Nordie's Store Card in March, but nothing but CLI requests since.  I'll update if I decide to go for CLIs. 

[28217]

Here is my garden:

1.) Capital One - Platinum Mastercard - $500 CL.  Opened in May of 2010, was first rebuilder card.  I have actually been very pleased with Capital One's service and started with a $300 limit that was raised to $500 on the credit steps program after 6 months.  I always pay in full and have enjoyed the cash back rewards.

2.) Capital One - No Hassle Rewards Mastercard - $500 CL.  Opened in March 2011.  Capital One sent me a preapproval so I decided to give it a shot.  The 2% on gas and groceries is nice so this card is limited to that and also always paid in full.

3.) Orchard Bank - Platinum Mastercard - $300 CL.  Opened in December 2010.  Use it once a month and pay in full.  This card is useless and will be closed next year.

4.) Credit One - Platinum Visa - $400 CL.  Opened in December 2010.  Similar to Orchard, once a month then pay in full.  Will close next year.

5.) Barclays - USAirways Platinum Mastercard - $3,000 CL!!!!! - Opened in March 2011.  Took a chance and applied for it after reading here that they pulled TU only and that was my best score.  I was declined initially but used the myfico backdoor number for recon and was approved for $1,500.  A few weeks later, I called in to say I wanted a balance transfer but needed more available credit, they boosted my CL to $3,000 and I got rid of an old $1,200 balance on a B of A card that they closed on me 4 years ago that I had been making payments on.  I have paid the balance down to $0 and use for business travel expenses paying in full when I am reimbursed.

6.) Chase Auto Finance - I bought a 2008 Mercedes E Class ($27,000) in April with a rate of 12.99% (will refinance next year, just opened a PSECU account and will go through them).  My lease was up on my Grand Cherokee and it felt great to buy my first car with no co-signer.

7.) Wells Fargo Mortgage - Just got preapproved for a mortgage and making an offer tomorrow on a townhouse for $90,000.  I am a first time homebuyer and the FHA rate is 4.75%.

That's it for now.  No inquiries until next year when I hope to add an Amex Gold card and B of A University of Michigan Rewards Amex.  Thanks myfico community!!

[Anonymous]

I love these threads - so helpful in keeping me on the straight and narrow!

My goal for 2011 is no apps at all.  I don't need additional credit, so I'm not going to chase it and will keep my fingers crossed that my current cards grow without my asking for CLIs.  My most recent card (and app) is 6 months old this week, so I feel like I'm doing pretty good - BUT I did get a hard pull on Exp this month due to my upcoming move.  Annoying, but my new apartment is awesome so I'll suck it up and quit complaining. 

My current garden is:

1.  First Premier Mastercard (9/09) - 600CL.  $0 balance.  I think I need to whip this card out to buy lunch one day this month - it's been about 6 mos.  They just gave me a $200 CLI this month, but that won't stop me from closing it before the annual fee hits in September.  I've had no problem with them, and my interest rate is actually pretty low (9.9%, I think?), but I've outgrown them and will weed them out soon.  Hoping to replace them with something better in 2012.

2.  Orchard Bank Platinum Visa (2/10) - $500CL.  $0 balance.  I wouldn't be opposed to keeping this card if CLIs weren't so hard to come by.  We'll see.

3.  Macy's (2/10) - ??CL.  $175 balance, will be paid off this month.  Not liking this new system of theirs, but I do shop there a lot so not taking any action currently.

4.  Banana Republic (2/10) - $1000CL.  $0 balance.  Don't use it much, but it's one of the better store rewards cards out there, IMO.  I've gotten at least $150 in coupons since I got the card.

5.  Lord & Taylor (2/10) - $2300CL.  $150 balance, will be paid off this month.  This card has shot up from an initial $600CL and I really appreciate that.  Love the coupons, too.

6.  Ann Taylor (8/10) - $600CL.  $0 balance.  I rarely use this card, but am looking for a new suit, so it might get used this month.

7.  Discover More (10/10) - $4000CL.  $1900 balance.  This is my main card, and the rewards have been great for me.  I travel a lot and racked up almost $50 in rewards in February alone due to work travel.  I was hoping for a CLI on my 6 month anniversary in April, but no dice.  Oh, well.  I'm going to start putting monthly expenses on it (cable, cell phone, etc.) to maximize rewards and show them I'd use a bigger limit if they'll give it to me.  Not sure if my movers will take Discover when I use them June 1, but that would be a nice expense to get some cash back on.  This will be my only card with a balance after this month, taking advantage of the 18 mos no interest sign-up offer.

8.  Barclays Apple Financing Visa (11/10) - $1700CL.  $400 balance, will be paid off this month.  Got this in November when I purchased my MacBook Air (which I LOVELOVELOVE) and paid it off in February.  I pretty much just use this card at the few places that won't take Discover.  Most of the charges come from my hair salon, which means I'm running a few hundred dollars through there every six weeks, so not too bad.  Hoping this one will grow, too, and on the anniversary I'm planning to try and PC to the iTunes Rewards Visa.

[Anonymous]

Well. Guess I should join in too..even though I'm a NOOBIE! Lol

My garden is not big at all but it is my paradise!

Cap 1 secured card $600 Got this one last days of march

Fingerhut store card $125 Got this one mid April...but after six months they increase the credit.

And that's it ..nothing but letting grow in the beautiful summers of Chicago! Woot woot! Go bulls!

[Anonymous]

I've decided that I need to sit back and see what happens in my garden before I do too much more.   I'd still love to get a visa card with a good CL to replace my orchard but here is what I have for now:

Wells Fargo Mortgage - 5.625% interest. (2010)  I'm paying extra on it every mont, even if it is only $20.

Chase Auto Loan - 7.5% interest. (2009)  I am halfway through this loan.   I have thought about refinancing it through a credit union and joined one this weekend so I could build a relationship with them and possibly refi the car.  They are offering 4% right now.

Orchard - ($300) (2010) I opened this card right after I got my mortgage so I could replace First Premier.

Capital One - ($2250)  (2010) I opened this about a month after my Orchard.  It was a credit steps starting at $500 in May 2010

Home Depot - ($4000) (opened 4/30/11)   I opened the account at the store.  The lady that opened it said "don't worry.  It's just a starting amount.  It will grow quickly."   She didn't know it was my biggest account and probably the only account that I have that will grow.

Kohls - ($400) - 2010

My oldest account is 14 years old and closed and thankfully still reporting positively.  I'll wait a while to let some inquiries fall off and accounts age.  Then  I'll apply for a cc through the credit union.

[tinuviel]

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@Anonymous wrote:

I've decided that I need to sit back and see what happens in my garden before I do too much more.   I'd still love to get a visa card with a good CL to replace my orchard but here is what I have for now:

Wells Fargo Mortgage - 5.625% interest. (2010)  I'm paying extra on it every mont, even if it is only $20.

Chase Auto Loan - 7.5% interest. (2009)  I am halfway through this loan.   I have thought about refinancing it through a credit union and joined one this weekend so I could build a relationship with them and possibly refi the car.  They are offering 4% right now.

Orchard - ($300) (2010) I opened this card right after I got my mortgage so I could replace First Premier.

Capital One - ($2250)  (2010) I opened this about a month after my Orchard.  It was a credit steps starting at $500 in May 2010

Home Depot - ($4000) (opened 4/30/11)   I opened the account at the store.  The lady that opened it said "don't worry.  It's just a starting amount.  It will grow quickly."   She didn't know it was my biggest account and probably the only account that I have that will grow.

Kohls - ($400) - 2010

My oldest account is 14 years old and closed and thankfully still reporting positively.  I'll wait a while to let some inquiries fall off and accounts age.  Then  I'll apply for a cc through the credit union.

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That's really nice growth for a Cap1 CS card! Do you have any idea why they did such a good increase for you?

[Anonymous]

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@tinuviel wrote:

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@Anonymous wrote:

I've decided that I need to sit back and see what happens in my garden before I do too much more.   I'd still love to get a visa card with a good CL to replace my orchard but here is what I have for now:

Wells Fargo Mortgage - 5.625% interest. (2010)  I'm paying extra on it every mont, even if it is only $20.

Chase Auto Loan - 7.5% interest. (2009)  I am halfway through this loan.   I have thought about refinancing it through a credit union and joined one this weekend so I could build a relationship with them and possibly refi the car.  They are offering 4% right now.

Orchard - ($300) (2010) I opened this card right after I got my mortgage so I could replace First Premier.

Capital One - ($2250)  (2010) I opened this about a month after my Orchard.  It was a credit steps starting at $500 in May 2010

Home Depot - ($4000) (opened 4/30/11)   I opened the account at the store.  The lady that opened it said "don't worry.  It's just a starting amount.  It will grow quickly."   She didn't know it was my biggest account and probably the only account that I have that will grow.

Kohls - ($400) - 2010

My oldest account is 14 years old and closed and thankfully still reporting positively.  I'll wait a while to let some inquiries fall off and accounts age.  Then  I'll apply for a cc through the credit union.

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That's really nice growth for a Cap1 CS card! Do you have any idea why they did such a good increase for you?

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I have NO idea but I'll take it, especially since it is a cash rewards card.  It's worth the $39 AF.

It was $500 and credit stepped to $750 in September (I think).  In December when everyone was posting about Cap 1 CLI, I got one also.   It went from $750 to $2250.   No soft or hard pull.  No request.  

I do the same thing most other people seem to do.   Use it and PIF.   I try to PIF before the statement cuts but it doesn't always work out.   Regardless, it is always PIF before the due date so I don't pay interest.

[Walt_K]

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@Anonymous wrote:

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@tinuviel wrote:

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@Anonymous wrote:

I've decided that I need to sit back and see what happens in my garden before I do too much more.   I'd still love to get a visa card with a good CL to replace my orchard but here is what I have for now:

Wells Fargo Mortgage - 5.625% interest. (2010)  I'm paying extra on it every mont, even if it is only $20.

Chase Auto Loan - 7.5% interest. (2009)  I am halfway through this loan.   I have thought about refinancing it through a credit union and joined one this weekend so I could build a relationship with them and possibly refi the car.  They are offering 4% right now.

Orchard - ($300) (2010) I opened this card right after I got my mortgage so I could replace First Premier.

Capital One - ($2250)  (2010) I opened this about a month after my Orchard.  It was a credit steps starting at $500 in May 2010

Home Depot - ($4000) (opened 4/30/11)   I opened the account at the store.  The lady that opened it said "don't worry.  It's just a starting amount.  It will grow quickly."   She didn't know it was my biggest account and probably the only account that I have that will grow.

Kohls - ($400) - 2010

My oldest account is 14 years old and closed and thankfully still reporting positively.  I'll wait a while to let some inquiries fall off and accounts age.  Then  I'll apply for a cc through the credit union.

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That's really nice growth for a Cap1 CS card! Do you have any idea why they did such a good increase for you?

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I have NO idea but I'll take it, especially since it is a cash rewards card.  It's worth the $39 AF.

It was $500 and credit stepped to $750 in September (I think).  In December when everyone was posting about Cap 1 CLI, I got one also.   It went from $750 to $2250.   No soft or hard pull.  No request.  

I do the same thing most other people seem to do.   Use it and PIF.   I try to PIF before the statement cuts but it doesn't always work out.   Regardless, it is always PIF before the due date so I don't pay interest.

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My Cap One was very similar.  $39 AF Classic Platinum (no rewards).  Opened it in June 2009 for $500 CL and in credit steps.  It also went to $750 on the first increase.  It then went up to $1000 or $1500 sometime around the 1 year anniversary if I remember correctly (a little fuzzy).  And late last year it bumped to $2500. 

I put fairly heavy usage through it but didn't always PIF.  I would carry a balance for a month every once in a while.  The funny thing with them is they denied me for a CLI at my request about a month before they gave me the last CLI. 

[Anonymous]

I'm going to start gardening, finally. My credit cards are as follows:

1. BankAmericard Cash Rewards MC - $2,500 CL - $0 balance - open for 3 years, 1 month.

2. Discover More - $2,500 CL - $100 balance - approved 4/21/2011

I have numerous other inquiries for other cards I had been approved for and closed or just plan denied. I'm satisfied with my current cards though, and am going to stop applying.