topic Re: Garden Club Meeting - March 2012 in Credit Cards

Garden Club Meeting - March 2012

Anonymous — Thu, 01 Mar 2012 13:39:35 GMT

Greetings, fellow credit gardeners! Last month has come and gone, so it's time to start a new thread. I hereby convene the March meeting of the myFICO Garden Club.

For those who are new to the concept of gardening, it involves refraining from applying for new credit or seeking CLIs that require hard pulls. Soft pulls CLIs, however, are not only acceptable, but are encouraged. The idea is to allow one's current TLs to grow and mature, waiting for inqs to age or fall off, and possibly waiting for "baddies" to be removed or age off. During this time, one tends to one's current accounts and watches their AAoA grow and the new credit ding fade.

So, if you're at the stage of your credit journey where you're ready to enter the garden, please come and join us. You may pick up your complientary watering can and garden gloves by the front door -- you can even choose your favorite color! We're proud to offer a well appointed clubhouse. There is a snack table set up. This month, I've brought a selection of mini-quiches, along with a tray of appetizers made of corned beef and cabbage dip on toasted rye pieces. Please feel free to bring and add any items that you'd like. There's also a selection of cold beers and soft drinks. And, in the corner diagonally across from the front door, there is a fully stocked bar. If needed, there are some anti-itch medications stocked in our supply cabinet near the door -- Lanacaine, Benedryl, etc.

Come on in and make yourself comfortable. Make a gardening plan and commit to sticking with it. Are you planning to wait six months before applying for additional credit? A year? Until the last of your baddies drop off? Whatever your goal, we're here to support you. If you feel the "app-itch" coming on, let us know and we'll try to help you through it.

So, how's everyone's garden looking this month? Currently, this is what I'm tending to in my garden:

Cap1 Visa Platinum - 6400 CL

Cap1 NHCR MC - 750 CL

Dillard's Amex - 4200 CL

JC Penney - 1800 CL

Kay Jewelers - 5100 CL

Amex Green - NPSL

Last month I found out that my internal spending limit with Amex is $5000 and this made me very happy. It's ample for my monthly spending needs and means that I can use my Green as my primary card without worrying about hitting my limit.

Next month, my Dillard's and JCP each mature to a year old, so I'll lose the ding from the inq on my TU report. I'm looking forward to seeing if that bumps my score up slightly. I usually get about a 4 point boost when an inq reaches the one year mark.

So, how's everyone else doing? Please feel free to share and mingle!

Re: Garden Club Meeting - March 2012

LS2982 — Thu, 01 Mar 2012 13:42:25 GMT

Still app free and going strong!!

Re: Garden Club Meeting - March 2012

LS2982 — Thu, 01 Mar 2012 13:44:52 GMT

Waiting for my upcoming score drop from oldest account dropping off on EQ, not looking forward to it at all. i look at it as now im on a clean slate nothing other than baddies can hurt my EQ score!

Re: Garden Club Meeting - March 2012

Anonymous — Thu, 01 Mar 2012 13:55:07 GMT

I'm probably staying in the garden for the next 6 months. Just apped a few weeks ago for Discover More, and got approved.

As of RIGHT NOW:

MBNA: 4.6K / 15.9K

Chase Freedom: 0 / 1.4K

Discover More: 0 / 6K

My BT from MBNA to Discover is pending. MBNA currently at 14.24%.

Discover has 0% for 15 months, saving me hundreds. I should be at 9% UTIL by the end of the year.

Probably going to app for the Zync in September/October. Have no major purchases pending for this year.

Re: Garden Club Meeting - March 2012

LS2982 — Thu, 01 Mar 2012 14:00:39 GMT

FR, good luck with the Zync on oct!

Re: Garden Club Meeting - March 2012

Anonymous — Thu, 01 Mar 2012 14:03:13 GMT

@LS2982 wrote:
FR, good luck with the Zync on oct!

Thank you. I'll use the AMEX gold offers they send me every month as a reminder of motivation.

Re: Garden Club Meeting - March 2012

LS2982 — Thu, 01 Mar 2012 14:06:46 GMT

i think its good i opted out, way less temptation to app!

Re: Garden Club Meeting - March 2012

Anonymous — Thu, 01 Mar 2012 14:10:49 GMT

I'm way too conservative. I only had one credit card up until the age of 30. So I'm way too used to just laughing up the offers and throwing them out.

Now it's just habit.

Re: Garden Club Meeting - March 2012

LS2982 — Thu, 01 Mar 2012 14:13:37 GMT

I haven't had that taste of a prime card yet, im sure once I get that i'll be able to hold off with more restraint and look at it in a differnt view.

Re: Garden Club Meeting - March 2012

CreditWorld2013 — Thu, 01 Mar 2012 14:14:29 GMT

Okay, After the past 2 months of getting my 3 cards...I'm finally settled in. My seeds should be showing a small stem this month as it will be my 3rd month with my Discover More and Capital One Journey cards and I should receive my new Citi Forward within the next few days.

Discover More - $500 CL

Capital One Journey - $300 CL (1/2 way complete in credit steps to $500 CL!)

Citi Forward - $500 CL

In all I like my cards. So far they are all prime (depends on what you call Capital One but on the Journey I have no Anual Fee, rewards, etc). In 3 Months I will have a total Available credit of $1,500 and 3 months after that I will look into Soft pulls for Discover (I've used it primary even charging higher than the limit and making multiple payments and the statement balance will report $5) When I get my Citi card I will do the same I've done with Discover but rotate which ones I leave a $5-$10 on. I hope this will either get me an Auto Increase in 3 months or I'll ask for a CLI via soft pull in 3-6 months.

Re: Garden Club Meeting - March 2012

ficonightmare — Thu, 01 Mar 2012 14:28:10 GMT

Last App was for my BOA Accelerated Cash Amex back in December 2010.

Am waiting for my last 2 inquires (amex and boa) to drop off my Experian report before app'ing for anything else. One more year to go!

Been meaning to get rid of my Gemb PayPal MC for a looong time now, but something's holding me back. Not sure what.

Only other cards I would use right now would be a Saks or Bloomies CC. Other than that, don't need anymore credit.

Currently have:

BOA Amex-7.5k

Barclays B&N MC-7.5K (they give auto CLI's every 6 statements)

PayPal MC-3K

Amex Zync.

Cards I'm an AU on and use (hubby is primary) are:

Chase Sapphire- don't remember the CL

Citi Dividend-26k

I've also been an AU on my parents Chase forever. I don't even have the card in possesion anymore. But It's one of my older accounts and figure it'll help when another Amex account drops off this year.

Re: Garden Club Meeting - March 2012

Anonymous — Thu, 01 Mar 2012 14:22:47 GMT

I've been app free for over a month! Wow, I really feel like an addict. I really don't count that Jan Amex app, because it will be backdated to 2004. Anyway, I have great cards, and only have room or plans for 1-2 more in the next 2 years. I just read The Road to 850, and it has done wonders with keeping me away from the app button. I do, however, plan to maybe prune one $375 limit card opened in 2007. It's a store card, and I no longer shop there, plus I really only want major cards with respectable CL. So here's to everyone who is in the garden...have a great month!

Re: Garden Club Meeting - March 2012

ficonightmare — Thu, 01 Mar 2012 14:25:32 GMT

@Anonymous wrote:
I've been app free for over a month! Wow, I really feel like an addict. I really don't count that Jan Amex app, because it will be backdated to 2004. Anyway, I have great cards, and only have room or plans for 1-2 more in the next 2 years. I just read The Road to 850, and it has done wonders with keeping me away from the app button. I do, however, plan to maybe prune one $375 limit card opened in 2007. It's a store card, and I no longer shop there, plus I really only want major cards with respectable CL. So here's to everyone who is in the garden...have a great month!

Why aren't you counting it? Mine was backdated too but I still took a hit for the inquiry.

Re: Garden Club Meeting - March 2012

Revelate — Thu, 01 Mar 2012 14:43:14 GMT

Mini-quiches! Tinu for President!

My little plot of land has been planted, but no hint of green yet; we'll see what March brings: my quarter-annual FICO score pull is approaching, good times!

One month down, plan is still in flight:

- Car refinance in July

- Presumable BOFA secured graduation in October (may be soft)

- Zync application (prayer? Damn you backdating! ) in December

Re: Garden Club Meeting - March 2012

Anonymous — Thu, 01 Mar 2012 16:15:15 GMT

After taking a month off I can return to the garden club. Middle of January I apped for and was approved for the Discover More 5,500 CL, then the middle of Feb I apped for and was approved for the Chase MP Explorer, 6,200 CL.

Just paid my first Discover statement today. Didn't pay the full balance because I want to take advantage of the long 0% APR period and my util on the card is about 12% so it is low enough I can float a balance for a bit, and I need to so I can make sure I have the money to pay my Chase card in full since there is no intro APR. My car needs new tires and brakes and I want to put that on my Chase card for the miles, and when you are single, out of school, and no kids no tax refund for you.

Got the targeted offer for 50,000 bonus miles after the first purchase, and I plan on just saving them up for an international first class award to europe, which given my spending and flying habits I should get there in about 5 years or so with the signup bonus giving me the head start. I could never afford or justify purchasing an international first class ticket, but with miles I can get there. A nice aspirational award.

My wallet is as follows:

Capital one no hassle cash rewards 750 CL (Will close in may before the annual fee is due, since with my Chase Visa that becomes my primary card, no need for this one)

Discover More 5,500 CL (Will only use for shop discover and cashback bonus categories)

Chase Mileage Plus Explorer (will use for everything else)

I feel like I have the perfect mix. A good cashback program for small awards like gift cards, and a miles program for aspirational awards like first class travel and upgrades.

I really have everything I want. The credit limit on both cards is plenty and now I don't have to make a prepayment every month to make sure my util stays down and no more worries about going over my credit limit.

I can tend to these two seedlings for a long time, and they will be some strong plants in another 4-5 years when I am ready for a mortgage.

Re: Garden Club Meeting - March 2012

CreditCrusader — Thu, 01 Mar 2012 16:20:03 GMT

My name is Credit Crusader...and I'm an appaholic...

I love the nervous feeling when I fill out an application for a credit card...I love the rush of adrenaline when I hit that "submit" button...but what I love most are those three magic words...YOU ARE APPROVED!

Right now, I am fighting the urge to apply for a credit card at my local credit union since they are hounding me to apply. I am trying to be good....fish are friends, not food!

Re: Garden Club Meeting - March 2012

Anonymous — Thu, 01 Mar 2012 16:30:22 GMT

Hello Everyone...

Glad to be in the Garden this month. My goals are to continue paying down my debt to lower my utilization.

Started January's utl@44%.

Started February's utl@41%.

And I am very proud to announce that I am starting March's utl@20%. I'm really proud of myself

What's in my Garden?

Cap1 Platinum MC: $0/$750

Lane Bryant: _____$0/$1,110

Amex HHonors___$0/$3,000

Citi Plat Select MC_$2,785/$4,800

Goodyear________$0/$5,850

Sam's Personal___$1,283/$8,500

DCU Visa Plat_____$563/$20,000

NFCU cash/rewards$9,672/$20,000

Amex Zync_High balance $0/$4,653

HAPPY GARDENING!!!

Re: Garden Club Meeting - March 2012

RockinRay — Thu, 01 Mar 2012 16:54:32 GMT

I'm still here for the rest of this year.

Re: Garden Club Meeting - March 2012

jla84 — Thu, 01 Mar 2012 18:09:20 GMT

Still planning on waiting until May to grab the Citi Forward. Trying to replace my Capital One with another Visa/MC before the AF hits in July. I'm also planning on apping for the AmEx BCE/BCP (haven't decided which one yet) at the same time since my Zync will be over 6 months old.

Re: Garden Club Meeting - March 2012

Smerri1029 — Thu, 01 Mar 2012 18:14:22 GMT

I am entering the Garden. I am pretty much all set on cards. The only thing that could change (not till maybe January for backdate purposes) would be a Zync for some of the packs or a Platinum if I start traveling any more. Other than that I am happy and squared away with my cards. Hopefully in a couple months when some inquires age and drop off I can refinance my auto loan for a lower rate. Until the auto refi though, I am happy to join the Garden with anyone else. I also did a PC from my BoA Power Rewards Visa (sock drawer card) to the Accelerated Rewards AmEx so that my $10,000 credit limit reports. Figured that'd be a nice limit to garden. So my signature has my wallet and sock drawer and am very happy with what I have now. Happy to finally be gardening!