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New Contributor
tehpud
Posts: 63
Registered: ‎05-21-2013
0

I promised to garden.....

Hey folks!

 

So i have been in the garden since June with the exception of soft pulls to increase large CLI's with my lendors.   However, I made a boo boo today. 

 

My fiance has been dying for a new couch for our new place we moved into 2 months ago.  Our current has been slowly breaking down.  Today I was at Gallery Furniture and found one that is perfect style and cost @ $1499.99.

 

They offered me a nice 15 month 0% financing + 5 year warranty (these guys are very well known here in Houston).  I went ahead and said, f it.  I can pay in full or take advantage of the financing.  I went ahead and applied for the financing (mad at myself) which is through Wells Fargo.  It is a line of credit with the furniture store only.  Much to my surprise - I was approved for $5500!  I did a down payment of $800 on the couch which brought my total financing to $1,000 for 15 months.  Not bad, eh?

 

Now...really going back to Garden as I want my AMEX in December!  I do not know who they pulled yet, but I'm going to call Wells Fargo on monday and go for a CLI.


Starting Score: 507 TU | 549 EX | 525 EQ // 05/11
Current Score: 715TU | 720 EX | 684 EQ // 06/13
Goal Score: 775 TU | 795 EX | 745 EQ


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Frequent Contributor
NewtoCredit80
Posts: 324
Registered: ‎04-12-2013
0

Re: I promised to garden.....

If you have just one HP then it is not going to kill your chance for an Amex.


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- In garden till Dec 2014
Moderator
09Lexie
Posts: 26,016
Registered: ‎09-13-2012
0

Re: I promised to garden.....

Congratulations. Idk about WF LOC others might chime in but I'm curious as to why you want more on the LOC. Buying more furniture?
New Contributor
tehpud
Posts: 63
Registered: ‎05-21-2013
0

Re: I promised to garden.....

After thinking about it, I don't think i really need the WF LOC.  I don't plan on buying more furniture now, but figured It would be better for me in the long run to have a higher limit since my UTL will be low.  After I pay this off - may not even be necessary.


Starting Score: 507 TU | 549 EX | 525 EQ // 05/11
Current Score: 715TU | 720 EX | 684 EQ // 06/13
Goal Score: 775 TU | 795 EX | 745 EQ


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Moderator
09Lexie
Posts: 26,016
Registered: ‎09-13-2012
0

Re: I promised to garden.....

New Contributor
tehpud
Posts: 63
Registered: ‎05-21-2013
0

Re: I promised to garden.....

Agree'd!  So hopefully it doesn't effect me with AMEX come December.  It will be a new account, but I noticed it did the HP on TU with Wells Fargo in Texas.  The pull also shows furniture - worst case I would recon with AMEX to ask them to review due to furnishing my home and that a fair chunk was paid up front.

 

I don't think it will be a huge problem


Starting Score: 507 TU | 549 EX | 525 EQ // 05/11
Current Score: 715TU | 720 EX | 684 EQ // 06/13
Goal Score: 775 TU | 795 EX | 745 EQ


Take the myFICO Fitness Challenge
Moderator
Kenny
Posts: 5,667
Registered: ‎01-15-2009
0

Re: I promised to garden.....

Good luck! Sometimes the heck to credit reports.. you have to have furniture that is comfy! What makes sense makes cents, too. :smileywink:

Starting Score: EQ04: 748 (1/31/14) - TU08: 755 (1/06/14)
Current Score:EX08:802(10/08) - EQ04:763(8/29) - EQ08:790(10/16) - TU08:808(10/02)
Goal Score: 800+
Moderator
09Lexie
Posts: 26,016
Registered: ‎09-13-2012
0

Re: I promised to garden.....

Amex doesn't recon CLI's. Can't worry about it now-enjoy your sofa.
Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: I promised to garden.....

You must looooove your fiance.
I can't think of one person that I'd buy a new, expensive couch for- except my dearself.
West Elm keeps hounding me with pre approvals and mail catalogs!!!!
Nonetheless, CONGRATS! That's a nice cl.
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