Moderator
Revelate
Posts: 9,735
Registered: ‎12-30-2011
Re: Garden Club Meeting - January 2013

creditnocash wrote:

Wolf3 wrote:

What about those who are planning to refinance a mortgage?  Is that in or out of the garden?


if you take an inquiry to refinance your out but its a big reason to step out. and hopefully for the better. 

 

ANY hard pull will result in this. 


The rule is specifically any HP that leads to a tradeline, or has the possibility of leading to a new tradeline, or is a change in the tradeline (CLI's being the example there).

 

As a refinance of either a mortgage or auto loan leads to a new tradeline, that is considered stepping out of the garden... though both absolutely worth doing so for unlike some number of credit card applications.  Gardening is a tool after all, not an end goal in itself.

 

There are a few other reasons for inquiries though, rental check, new utilities, or renting a car with a debit card (unlikely on this particular forum I admit) that have no chance of leading to a tradeline and are considered unavoidable.  As such they don't reset your gardening timeline.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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