Success!!! Now how do you guys "garden"?

[gh17]

As long as you can think of one or two dollars worth of stuff to put on each card, they'll stay active.  You don't need to be charging hundreds of dollars to every card for them to stay active, and that doesn't benefit your credit score at all.  I'm sure you make at least seven transactions each month - put one transaction on each of your cards, and you're set.  Don't buy stuff you don't need.  If you buy gas and groceries every week, there you go, eight transactions.

Really, to keep a card from being closed, all you generally need is one transaction every year or so - you don't need to charge something on every card every month.  And none of this really matters to your credit score - it matters to the creditors.  Your credit score is not gonna go down if you don't make a transaction for three years on a card.  But the risk is that the bank may close your card, which you don't want, and could impact your credit score.  So your goal here is really just to keep the bank from closing your card, which doesn't take much.

To maximize your credit score in a given month, all of your cards should have zero balances except for one, which should have a balance of <10% of its limit.  You do not need to do this every month though (and there's no lasting benefit from doing so) - you only should do this if in a particular month you want your highest possible score (like if you're applying for a loan or something).

[gh17]

The purpose of "gardening" is really just to let accounts get older without getting any new accounts so that your average age of account goes up, and also letting inquiries fall off your report.  You don't need to be charging a lot to cards for them to "grow."

[ezdoesit]

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@davidsawsparks wrote:

I just went on my first app spree ever! It took several years but now... I have 2 homes (1 is a rental property), and finally the cards I've been waiting years for. Thank you guys for all the info throughout the years! I just got approved all in 1 sitting for a AMEX Everyday Preferred, Chase Sapphire Preferred, Bank Americard CAL Alumni Card and a PNC Cash Builder Signature Visa. I basically doubled my previous CL with these 4 cards. So now my question is how do some of you maintain the expediture on all your cards in order to keep them open? I make a decent above average salary. 135k a year... with that said, I already have everything I need per se so I can't think of ways to use my card for the sake of "gardening" putting expenditures on it and then paying it off without feeling like I'm buying things I don't need. Beyond grocery's, gas and eating out... what else do you all use your card for, for the purpose of gardening?

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How much do you generally put on a cc a month?

Also you have to houses don't you pay any ulitiy bill with a credit card providing they don't charge you a fee fr doing so.

I am sure you have cable tv, internet, phone or cell phone.  I have verizon for all and they don't charge extra for using a cc.

[Slim1Der]

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@mongstradamus wrote:

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@davidsawsparks wrote:

That's basically my question... aside from charging my usual monthly expenses on a cc and then paying them off with cash I already have... what else do you guys purchase in order to keep the cards active. Eventually you'll either end up buying unnecessary things or racking up debt for the sake of chasing rewards or trying to keep your other cards from being closed due to inactivity.

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put an recurring charge on their like netflix , psn, xbl or gym membership . 

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That's an EXCELLENT idea!

[taxi818]

yes each card should have a job.

example. if best reward is to pay utility bill on a card do it.

Next card cell phone bills. thing you normally pay for.

I.e gas. everyone needs that. which card gives you best reward for gas. right now until end of september. discover.

Next month they will have online purchases and depeartment stores.

so they go to bottom of pile. so it not hard to use. just do what you would do if you had to pay in cash.

[taxi818]

not to sound crazy. i have one card. i onl;y buy socks and underware every 3 months on . that is its purpose until i need something else. most are not buying unneccesary things because they have limit. its trying to maintain. the cards they have. even some soap once every few months will work. just to keep them on life support. then pay in full.

[Open123]

In my view, the decision to garden should be predicated on (1) current CC enviroment, (2) personal CR file, and, (3) level of necessary expenditures.

On CC useage, for rewards accrual, it's vitally important to *NEVER* spend more than one otherwise would on necessary and planned expenditures.  For instance, if I knew in advance, my year's spending would $50,000, then I would cycle sign-up CC bonuses if they happen to be high.  If not, then I would seek out rewards on spending cards that will maximize the $50K I will be required to spend.  If both rewards spending and sign-up bonuses are low, I may seek out 0% financing cards to float my expenditures.  And, finally, if none of the aforementioned are compelling, I wouldn't app for any cards and would just use cash to curry favor with the Merchants.  In other words, if CC Issuers purged rewards and bonuses, I would never use a CC again, let alone apply for them, except for internet purchases (with State taxes assessed, I'd rather shop with local Merchants) and travel related reservations.

When it comes to using CCs, far and away the most important aspect is to NEVER, under any circumstances, spend more than you otherwise would, regardless if it's for a sign-up bonus, rewards spending, or 0% financing.

[Anonymous]

A month ago I was running all my bills and everyday espenditures through my debit account. NOW I understand I'm not really building credit this way. So I'm charging all my everyday groceries, gas, etc.. on my Amex for those rewards. All my retail purchase on my Discover for those rewards. And I have my hulu account charge my BoA account monthly. 

And that's that. I'm not buying anything more than I already would, I have a mint account and stay in budget fairly well

[Zorasmiles]

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@mongstradamus wrote:

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@davidsawsparks wrote:

That's basically my question... aside from charging my usual monthly expenses on a cc and then paying them off with cash I already have... what else do you guys purchase in order to keep the cards active. Eventually you'll either end up buying unnecessary things or racking up debt for the sake of chasing rewards or trying to keep your other cards from being closed due to inactivity.

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put an recurring charge on their like netflix , psn, xbl or gym membership . 

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Exactly!!  Small charge with an easy pay off.  I personally don't advocate buying for points when you don't need the item.  You end up with a bunch of junk and unneccessary debt.  GL