Re: "The Garden" - Something just doesn't seem right...
10-04-2012 02:47 AM
Although I have barely looked at the garden thread, I have a rather firm grasp of the concept
However, what is not mentioned.... is that "The Garden" is relative; VERY much on a persons situation and goals. That is the hard algorithm to calculate or even know about before you come to, or know about, MyFico and the forum. Before you read and learn a LOT, you'll find the garden is hard, not only to find, but to navigate (as in how it's relative to you) in terms of how to use it, this kind of info is the map and the flashlight so to speak..
Have you ever noticed most people that garden are a bit older? Factually in real life? That somewhat applies here with their credit history as well.
I had a goal this year of an AMEX Blue (any, I just wanted one of their revolvers and for it to show on my reports the same as my Z, 1989), I hit that goal in May, amazingly after only 5 months of "gardening", which is very little. But it was the only card I had my eyes on for 2012 and won't report (exactly...) as a new account.
Where it's relative in my case? I have 18ish accounts on history, 5 of which are closed a few of which are AUs (both closed and open). Perfect payment history. I may have high UTIL (esp due to 0%) but it's obvious I'm not "Seeking". I learned the HARD way not to close old accounts, at least my old AMEX history somewhat saved me from that horrible and ignorant mistake (years ago, so several accounts that could still be reporting, are not, it's why I recommend people get an AMEX when young).