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Should I apply or garden?

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EmmyWannabeOrman
Contributor

Should I apply or garden?

I've been itching for a prime card. My Experian report has only one baddie that will fall of in four months, EQ and Tran have two that will fall off later this year. I haven't had any lates this past year as I been rebuilding and I have a healthy mix of credit (auto loan, store cards, credit cards.) But I do have a bunch of inquiries and my NFCU card has a 2300 balance (6000 CL.) I really want a prime card, recently denied BOA card, because of "too many new accounts." Please tell which bank would approve me and don't try to talk me out of applying Smiley Wink lol. Appreciate it.
Cap One QS 1950, NFCU 7000, NavChek 6500, Cap One secured 750, IFCU 1000, IFCU (overdraft line of credit) 1000, Express 3100, NY&Co 2650, Victoria's Secret 2650, Exxon/Mobil 300, Zales 500, Kay's 900, Walmart 3500, Bloomingdales 1000, Belks 850, Paypal Smartconnect 1300, Chase Freedom 2000,Chase Slate 500. Gap 4000, BP 3000, Amazon store card 3500
Message 1 of 7
6 REPLIES 6
djc1puno
Valued Contributor

Re: Should I apply or garden?


@EmmyWannabeOrman wrote:
I've been itching for a prime card. My Experian report has only one baddie that will fall of in four months, EQ and Tran have two that will fall off later this year. I haven't had any lates this past year as I been rebuilding and I have a healthy mix of credit (auto loan, store cards, credit cards.) But I do have a bunch of inquiries and my NFCU card has a 2300 balance (6000 CL.) I really want a prime card, recently denied BOA card, because of "too many new accounts." Please tell which bank would approve me and don't try to talk me out of applying Smiley Wink lol. Appreciate it.

i would defnitely garden...when you get denied due to too many new accounts, that's one sign that it's time for you to let your new accounts age...besides, as you garden you can wait for the baddies to fall off of your reports...and right when you're ready to step out of the garden (hopefully 6 months at least in the garden), then your report should be cleaner and see a nice boost! when you apply then, you could also be enjoying higher starting CLs to reward you for your patience Smiley Happy



GARDEN GOAL: MARCH 2014
LAST APP: 08/20/2013
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Message 2 of 7
coldnmn
Mega Contributor

Re: Should I apply or garden?

Join the garden every denial just makes your credit file look that much worse. To many new accounts = to many inquiries = denials. Garden at least 6 months to a year. Credit is a journey not a race!

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $15k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $10.8k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $5.35k / Citi DC (WMC) $12k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 3 of 7
Revelate
Moderator Emeritus

Re: Should I apply or garden?

Garden.  You need to let your file season a bit and if you have final derogatories coming off in a short time frame it doesn't make sense to continue to push your markers with that showing when you can potentially take a bigger step forward later.

 

Also I would suggest ignoring the concept of a prime card: no such animal really - either a card works for you or it doesn't and that's the only thing that matters.

 

Your tradelines are fine for building credit: use them appropriately is my recommendation FWIW.

 




        
Message 4 of 7
EmmyWannabeOrman
Contributor

Re: Should I apply or garden?

Thanks for the advice. Truth is I'm moving too fast and I since my year of rebuilding I haven't truly gardened. I stupidly applied for Amazon's Visa card..... Guess I'll wait to see how that turns out. To the garden I go.
Cap One QS 1950, NFCU 7000, NavChek 6500, Cap One secured 750, IFCU 1000, IFCU (overdraft line of credit) 1000, Express 3100, NY&Co 2650, Victoria's Secret 2650, Exxon/Mobil 300, Zales 500, Kay's 900, Walmart 3500, Bloomingdales 1000, Belks 850, Paypal Smartconnect 1300, Chase Freedom 2000,Chase Slate 500. Gap 4000, BP 3000, Amazon store card 3500
Message 5 of 7
EmmyWannabeOrman
Contributor

Re: Should I apply or garden?

Btw I meant my two baddies from EQ and Trans are coming off later next year..... One baddie off in May then December.
Cap One QS 1950, NFCU 7000, NavChek 6500, Cap One secured 750, IFCU 1000, IFCU (overdraft line of credit) 1000, Express 3100, NY&Co 2650, Victoria's Secret 2650, Exxon/Mobil 300, Zales 500, Kay's 900, Walmart 3500, Bloomingdales 1000, Belks 850, Paypal Smartconnect 1300, Chase Freedom 2000,Chase Slate 500. Gap 4000, BP 3000, Amazon store card 3500
Message 6 of 7
alvon123
Super Contributor

Re: Should I apply or garden?


@Revelate wrote:

Garden.  You need to let your file season a bit and if you have final derogatories coming off in a short time frame it doesn't make sense to continue to push your markers with that showing when you can potentially take a bigger step forward later.

 

Also I would suggest ignoring the concept of a prime card: no such animal really - either a card works for you or it doesn't and that's the only thing that matters.

 

Your tradelines are fine for building credit: use them appropriately is my recommendation FWIW.

 


+1


Message 7 of 7
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