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Going into the garden for a long time

Established Contributor

Going into the garden for a long time

I've reached the point where I am now content with the cards I have. So off into the garden I go.

 

Started my credit history in October 2015. Since then I've opened 6 cards and have a bunch of inquiries. I'm not buying a home or anything like that so going into the garden really isn't necessary, but I really am content with the cards I have now. I've also been denied lately for some of the cards that are harder to get approved for. And I just finished meeting a sign up bonus recently, so I think now I am going to stop applying completely...let my accounts age and for the inquiries to fall off.

 

As someone who was establishing credit history, my goal was to strike a balance between opening cards for the long term and chasing sign up bonuses. I think I've done that pretty good. The bonuses I've gotten are...60k Delta miles, 75k Hilton points, 5k JetBlue points, and 15k AmEx MR.

 

And the 4 cards I have left standing are all no annual fee. There's certain cards I wanted in the near term such as the Capital One Quicksilver, but I'm just going to put my regular spend on these 4 cards and not apply for anything.

 

Anyone in the same boat? Plus I'm at 6/24, so no Chase for me. My credit score is at just over 700 right now, but apparently not long enough for some of the harder to get approved cards and also too many inquries.

5 REPLIES
Frequent Contributor

Re: Going into the garden for a long time

I think there's some distortion in this forum of "being in the garden." The idea as I see it is to help people actually think about what they want or need and plan accordingly. It's just a way to describe the state most people are in the vast majority of the time: not actively seeking credit. But I have seen a number of posts that assume gardening is a temporary state and their default state is to get as much credit as possible. 

 

I'm with you - I just got a Blue Cash Everyday card and there's nothing else out there that would do me any good. So I'm satisfied to be in the garden semi-permanently.

American Express Blue Cash Everyday, $18.4k limitCapital One Quicksilver, $11k limitChase Amazon Rewards, $6k limitBarclay Ring, $2.5k limit
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FICO Scores: TransUnion 775, Experian 797
Established Contributor

Re: Going into the garden for a long time


afuche wrote:

I think there's some distortion in this forum of "being in the garden." The idea as I see it is to help people actually think about what they want or need and plan accordingly. It's just a way to describe the state most people are in the vast majority of the time: not actively seeking credit. But I have seen a number of posts that assume gardening is a temporary state and their default state is to get as much credit as possible. 

 

I'm with you - I just got a Blue Cash Everyday card and there's nothing else out there that would do me any good. So I'm satisfied to be in the garden semi-permanently.


I do agree with you on your comments about the garden. But for me it'd actually do some good to stop applying until next year so that I can get approved for the cards I really want.

Established Contributor

Re: Going into the garden for a long time

Makes sense to me too. I'm gardening myself for a more-or-less set period over the remainder of this spring and through the summer, to prepare for another group of applications in the fall (my chief objective is to get a Visa; depending on how much my scores have improved I might also try for an Amex, Paypal Credit, Marvel MC and/or Walmart store card) but once one or more of those is secured, I'll probably do the same as you over the next couple-three years, limiting activity to the occasional CLI request at possibly quarterly or semi-annually intervals, until it's time for me to start looking for my next car...

Ch 7 BK discharged 12/14, well along in rebuilding credit. FICO 11/2/17:TU 660/EX 694/EQ 688 FICO 8 (Aug 2017) or 680 FICO 9 (Penfed Sep 2017), VS 3.0 11/7/17: TU 704/EX 690/EQ 697. $32.3K revolving credit as of 11/7/17; $951 Cap One secured Platinum MC, $2000 Apple FCU Platinum Visa,$3500 Amazon Prime Store Card, $3500 Walmart Store Card, $3500 Cap One Quicksilver MC, $3600 Discover It, $4000 Care Credit, $4300 Overstock Store Card, $7000 Penfed Power Cash Rewards Visa, $10k PenFed used car loan, $5k Navient student loan. In the garden again from 10/26/17 for at least the next 3 months unless I get a really really good preapproval.
Valued Contributor

Re: Going into the garden for a long time

I'm in the garden now long-term because I started rebuilding last February and as is the way with rebuilding...I have a ton of inquiries and my AAoA dropped considerably from the new accounts. But, it's just par for the course.

 

I have added my first $10k card being approved for AMEX Delta Gold.

I also have AMEX BCE and Discover it.

I have great limits on the store cards I actually use.

I've closed the cards that I no longer use/need/want. 

 

Now I just want to age what I have, allow inquiries to fall off and watch my score rise.

 

The *ONLY* other apps I have planned for the near future (e.g., 1-2 years), is some sort of PLOC (I bank with US Bank and DCU...may go with either of them or NFCU when the scores are right) and Chase Southwest RR. I fly SW and Delta all the time and that companion pass for SRR is amazing. Totally plan to app for that as SOON as I am clear on 5/24! Smiley LOL

11/2017: EX 704 | TU 720 | EQ 672 -- Starting (2/2016): 630 | 620 | 580 -- INQs: 17 | 26 | 28 (last 6 months: 5 | 2 | 6)
AMEX Delta: $10k, Marvel: $8k, Discover IT: $7.2k, AMEX BCE: $6k, Target MC: $5k, PayPal 2%: $8k, CO QS: $2.6k, Merrick: $1.6k, Barclay's NFL Rewards: $1k, CO BuyPower: $500. And a mix of well-loved store cards.
Valued Contributor

Re: Going into the garden for a long time

It should not be black and white anyway. If you still have a goal card superior to what you carry you need to do what you have to do, temporary garden it is.

I really really want that >4 INQ baseline on EQ. I am almost there. Penfed will cave.
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