Is it time for me to garden?

[Kohler]

I was approved for the Cap1 Journey a few weeks ago - $300. Approved for Discover it student. Not sure what limit yet.

Accounts - 6 or 8 student loans in good standing (no lates).

1 Collection account from 2008. (not on equifax)

Should I apply for 1 more card or be done? I was thinking the walmart store card. I barely shop at walmart... It just seems like that card might be within my reach. Would having this card help me in the long run or because it's a store card... not do much good? I'm trying to overcome a thin file. I figured it can't really hurt to apply considering I don't plan on buying a house or anything in the next few years... so inquiries aren't a big concern. If my reasoning is flawed... let me know.

Oldest accounts 6 years. Average age 3 years (credit cards haven't posted yet). My transunion score was 630 last summer...I think it probably improved...because 1 negative account that I had last year fell off.

[Vegas247]

I would go directly to the garden if I were you.

[azguy13]

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@Vegas247 wrote:

I would go directly to the garden if I were you.

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And do not pass GO, do not collect $200

[Kohler]

Thanks, guys. I hope it's okay to ask this here - Can I add someone as an authorized user on my cards if her credit reports are frozen due to a fraud alert? I think she accidently froze it while trying to find her credit file... she got a letter from Experian saying they would notifiy the other bureaus and they would freeze her reports for 90 days, too. So can I add her as an authorized user and will it report since her accounts are frozen?

Thank you!

[policebox]

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@Kohler wrote:

Thanks, guys. I hope it's okay to ask this here - Can I add someone as an authorized user on my cards if her credit reports are frozen due to a fraud alert? I think she accidently froze it while trying to find her credit file... she got a letter from Experian saying they would notifiy the other bureaus and they would freeze her reports for 90 days, too. So can I add her as an authorized user and will it report since her accounts are frozen?

Thank you!

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Yes, you can add her. Freezes only affect the ability of others to pull credit reports, it doesn't affect a creditor's ability to report accounts.

She can call the three credit bureaus and ask for the freezes to be removed. It's not that big of a deal.

[B335is]

Do you want Walmart for the Fico score? With 630 you might get a store card (doubtful you'd get the Discover version) but GE limits grow fast which would come in handy down the road.

[Kohler]

Yes, I was thinking for the Fico score (not sure if it differs from the score Discover gives). Also because the 5% back on gas sounds nice.

[FocusedAndDetermined]

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@Kohler wrote:

Yes, I was thinking for the Fico score (not sure if it differs from the score Discover gives). Also because the 5% back on gas sounds nice.

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I believe the Walmart and Discover TU FICOs are the same, and Discover usually includes gas as a 5% category at least once a year - sometimes twice.  You should garden for about 6 mos., then apply for another card, but don't get one just to add to your porfolio - choose one that will serve you well.

[FocusedAndDetermined]

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@FocusedAndDetermined wrote:

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@Kohler wrote:

Yes, I was thinking for the Fico score (not sure if it differs from the score Discover gives). Also because the 5% back on gas sounds nice.

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I believe the Walmart and Discover TU FICOs are the same, and Discover usually includes gas as a 5% category at least once a year - sometimes twice.  You should garden for about 6 mos., then apply for another card, but don't get one just to add to your porfolio - choose one that will serve you well.

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Oh, and congrats on your approvals!

[B335is]

If you can buy gas at walmart to utilize the 5% back I would go for it. The Discover it quarterly bonuses dont work for everyone and im not trying to take anything away from the value of gardening but can understand going for it or waiting 6 months. If you end up going for it you will take more of a short term hit but adding thickness to you profile long term.