topic Re: When do you decide to stop the apps and garden? in Credit Cards

When do you decide to stop the apps and garden?

Anonymous — Sat, 13 Jun 2015 14:36:40 GMT

I did after I was successful in obtaining the cards I wanted. But honestly, it was the "thrill" of the hunt until I did. My old lessons learned these past seven years after Chapter 13 have served me well. Plus, the weath of knowledge in this forum and willingness to help each other. It made me wonder about others of "us" and how does each person know when it is time to take care of the credit we have. Thank you ahead of time to those who respond.

In my wallet: Capital One (secured) 1917; Quicksilver 5000; Venture 15,000; Barclay Apple Rewards 2000; CareCredit 3300; Bank of American Platinum Visa 2000; Bank of America Travel Rewards 3500; Bank of America Travel Rewards 3500; Amazon Store Card 5000; Discover 10,000. Total Credit: 51,217.
FICO: EQ - 745; TU - 699; EX - 681; GOAL: 780 across the board. Gardening until further notice.

Re: When do you decide to stop the apps and garden?

Anonymous — Sat, 13 Jun 2015 14:50:08 GMT

A bit of using one's brain cells and also when denials start coming in... The thrill can be exciting but can also be dangerous..

Re: When do you decide to stop the apps and garden?

Anonymous — Sat, 13 Jun 2015 14:42:08 GMT

My app spree stopped when I was turned down for a stupid Sheetz gas card for too many inquiries. Eye opener for me after such a successful app run.

Re: When do you decide to stop the apps and garden?

skimmie48 — Sat, 13 Jun 2015 14:53:06 GMT

I was in the garden for a couple of years but did not realize it until I started to read the forums. Once my Chase Freedom CLI to 5,500 I apped for some higher limit credit cards. In Feb-Mar I went from 12,000 - 64,000 in available credit. I am done although I get tempted reading approvals sometimes. Next year I will probably close some and consolidate limits.

Re: When do you decide to stop the apps and garden?

Revelate — Sat, 13 Jun 2015 15:11:57 GMT

I plan my apps in advance and stop once done.

I've stepped out of my plan twice, once for Zync, once for Sallie which was my own fault for not doing enough research on what was available at the time. A billion accounts aren't really necessary, strategize what you need from either a spending, APR, or yes, even limit perspective and then organize your apps around that.

I generally don't plan out more than 3-4 CC's at a time and then hang out in the garden for extended stretches. At this point I'm just rounding out my portfolio once I get past the mortgage hurdle, and I sort of think will only have 1-2 applications after that unless either the market shifts or my lifestyle does (this is the more likely one admittedly).

Re: When do you decide to stop the apps and garden?

I-think-I-can — Sat, 13 Jun 2015 15:50:21 GMT

I started gardening a few times before it actually "stuck" . The allure of gaining credit after years of not being able to get much of anything was rather intoxicating to me, and reading the approvals and hearing the success stories really had me hooked for awhile.

My wake up call, for lack of a better way to put it, was pulling a copy of my credit report and seeing just how many new accounts and just how much more credit I have added in such a short time. (That, and the number of Synchrony and Comenity 7-10 increase denial letters I just shredded ).

It let me know that it's time to slow this train down a bit and let the dust settle. Time to decide what cards to keep, which to let go, and most of all, time to accept the limitations of my income and credit profile. I have seen it written many times on the forum and it's 100% true...Credit is a journey, not a race, and it is perfectly okay to take your time.

Re: When do you decide to stop the apps and garden?

Creditwiser — Sat, 13 Jun 2015 15:58:20 GMT

@I-think-I-can wrote:
I started gardening a few times before it actually "stuck" . The allure of gaining credit after years of not being able to get much of anything was rather intoxicating to me, and reading the approvals and hearing the success stories really had me hooked for awhile.

My wake up call, for lack of a better way to put it, was pulling a copy of my credit report and seeing just how many new accounts and just how much more credit I have added in such a short time. (That, and the number of Synchrony and Comenity 7-10 increase denial letters I just shredded ).

It let me know that it's time to slow this train down a bit and let the dust settle. Time to decide what cards to keep, which to let go, and most of all, time to accept the limitations of my income and credit profile. I have seen it written many times on the forum and it's 100% true...Credit is a journey, not a race, and it is perfectly okay to take your time.

+1 Couldnt have said it better. Get what you need to get going and rebuild, then let the dust settle.

Re: When do you decide to stop the apps and garden?

Gmood1 — Sat, 13 Jun 2015 16:07:11 GMT

I did my first spree here in the last two weeks. It is very addictive! I enjoyed it, I must admit. But I have now pumped the brakes. Went from 2 cards to 10 and $2600 to $53,000 in credit limits. Every card I applied for I was approved..no denials. It knocked my EX score 29 points and the other two 6 points. The good thing is Discover has already reported with only two weeks of use and raised my scores 6 points! Hopefully the other new accounts will have a some what positive affect as well. So far the card spree was worth it in my case. Now to gardening and a requesting CLI's in 6 months.

Re: When do you decide to stop the apps and garden?

Gmood1 — Sat, 13 Jun 2015 16:10:48 GMT

Re: When do you decide to stop the apps and garden?

Anonymous — Sat, 13 Jun 2015 16:35:05 GMT

I decided to stop in January. That lasted until April, when I decided to stop again. That lasted for a month when I decided to stop again. But, hey, I can quit any time..

Re: When do you decide to stop the apps and garden?

core — Sat, 13 Jun 2015 16:47:09 GMT

When the CSR on the phone pulls my report and bursts out laughing or uses a 4-letter word.

Re: When do you decide to stop the apps and garden?

Anonymous — Sat, 13 Jun 2015 16:50:10 GMT

my app spree stopped this month i got in with a WF card and got denied for the chase marriott reward.

Re: When do you decide to stop the apps and garden?

Anonymous — Sat, 13 Jun 2015 17:11:55 GMT

The answer is to stop when you have everything you want.

For some, we want everything! Muah ha ha....!

Re: When do you decide to stop the apps and garden?

redpat — Sat, 13 Jun 2015 17:49:48 GMT

@Anonymous wrote:
The answer is to stop when you have everything you want.

For some, we want everything! Muah ha ha....!

I agree.

I stopped at three. I'm prequaliifed for CSP and freedom but I wouldn't use them.

i happy with what I have. I like the rewards and travel benefits.

I see see many chasing for higher limits and churning. Credit is to be used not stockpiled. I have more credit than I need.

Re: When do you decide to stop the apps and garden?

Anonymous — Sat, 13 Jun 2015 18:10:58 GMT

When you can't pick what card to use at the register 😝

Re: When do you decide to stop the apps and garden?

Anonymous — Sat, 13 Jun 2015 21:21:36 GMT

LOVED reading your responses! Thank you!

In my wallet: Capital One (secured) 1917; Quicksilver 5000; Venture 15,000; Barclay Apple Rewards 2000; CareCredit 3300; Bank of American Platinum Visa 2000; Bank of America Travel Rewards 3500; Bank of America Travel Rewards 3500; Amazon Store Card 5000; Discover 10,000. Total Credit: 51,217.
FICO: EQ - 764; TU - 696; EX - 681; GOAL: 780 across the board. Gardening until further notice.

Re: When do you decide to stop the apps and garden?

Anonymous — Sat, 13 Jun 2015 21:47:41 GMT

at 7 TU inquiries, I figured I needed to relax. Also when I was denied for the Sams mastercard and instead downgraded to their PLCC. Then once I brushed up on myfico, I decided to get my Amex because of the easy bonus.

I also realized I could request CLI's on several accounts I already had, where a HP was not required.

I was very torn between apping for Discover, or Amex.

I do honestly have no regrets, which feels good. Well, maybe not trying for the salliemae instead of the silly amazon plcc.

The only thing I have to focus on this summer is getting my util down, making sure I do several tiny transactions with amex to get the extra points, and really trying hard to PIF the Amex monthly because thats what they like. OH and maybe making a little cheatsheet of statement close dates because I always pay early, but never on the right dang date!

Re: When do you decide to stop the apps and garden?

Anomalous — Sat, 13 Jun 2015 21:54:50 GMT

I was in the garden for 6 months after my first app spree. Went on another spree recently, but got denied for three cards that I wanted. I'm back in the garden, but going for longer than six months this time. I want all of my scores at or above 700 before I app again.

Re: When do you decide to stop the apps and garden?

Aarvard — Sat, 13 Jun 2015 22:27:46 GMT

When I can't find any other expense that I can use to meet the spending requirement for signup bonus, which typically happens to a broke college student

Re: When do you decide to stop the apps and garden?

JSS3 — Sat, 13 Jun 2015 23:29:08 GMT

When these cards stop calling me!