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

Garden Club Meeting - July 2012

Anonymous — Sat, 30 Jun 2012 20:36:03 GMT

Greetings, fellow credit gardeners! Wow, we're halfway through the year already! A new month means that it's time for a new thread. Like last month, I'm starting this one off a day early so that I don't have to worry about typing it out over my morning coffee tomorrow. With that, I hereby convene the July 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 complimentary 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. We have a full featured gass grill, so burgers, hot dogs, and kebobs are available for your dining pleasure! This month, we’re also adding some fresh corn on the cob! There's iced tea, lemonade and sodas, and if you like, a variety of ice cold beers. With the summer heat upon us, we have a supply of frozen ice cream treats and gelatos, as well as slices of cold, fresh watermelon. And as always, we have a selection of mini-quiches, as Relevate really likes them. Please feel free to bring and add any items that you'd like. 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. If you need to place your reports in the deep freeze, we also have a freezer, located next to the bar, so go ahead and throw your reports in!

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.

Now, if you happen to leave the garden prematurely, that’s your decision and we respect that. You are always welcome to come back, pick up your gardening tools and start over again. But please, celebrate any approvals on another thread. While we are happy with members’ success stories, we really do want to keep this thread’s focus and tone to be consistent with gardening efforts. You are certainly welcome to celebrate soft CLIs on this thread, though, as they do not involve inqs or apps for new credit.

GARDEN CLUB CHALLENGE AND RECOGNITIONS:

Garden Club Challenge: Pick a firm date for staying in the garden and post it in your siggy!

Garden Club recognition levels: To qualify, your reports must contain:

No new tradelines of any type on one's accounts (this includes backdated Amex accounts, as they are STILL new "seedlings").
No HPs for anything that would allow for the possibility of a new tradeline being issued or increasing the CL of an existing tradeline.

You will be able to add the following to your siggy if you have abided by the above for the following time periods...

1 month - bronze spade

3 months - silver spade

6 months - gold spade

12 months - platinum spade

24 months or more - diamond spade

Please note: recognition levels reset once you add an account or incur a HP. We recognize that there may be very good reasons for "leaving the garden," and we respect whatever thoughtful decisions members make. As stated previously, members are always welcome to come back, grab their gloves and start gardening once more.

So, how's everyone's garden doing this month? Please feel free to mix and mingle, and share your gardening goals as well as your progress on the journey.

Re: Garden Club Meeting - July 2012

Anonymous — Sat, 30 Jun 2012 20:55:15 GMT

As I mentioned in last month's thread, I finally had a CA and associated CO fall off of my EX report, which felt wonderful! I don't know what my EX FICO is, but my Quizzle score went from 659 last year to 704, so I believe that I'm making progress. I'm waiting for these items to fall off of TU and EQ; TU says it should be gone in Aug, and I'm not sure about EQ but it should be around the same time frame. That leaves one more paid CO to come off in Aug, and that will be the last one! I'm anxious to see what my scores look like when that happens.

In the meantime, Wells Fargo keeps sending me "love letters" in the form of invitations to apply. I actually do want a WF card, as I bank there, but I'm firmly committed to waiting until my reports are CO and CA free. Until then, I'm firmly planted in the garden.

At the present time, my garden looks like this:

Cap1 Visa - $6400 CL

Cap1 NHCR MC - $750 CL

Dillard's Amex - $4200 CL

JC Penney's - $2300 CL

Kay Jewelers - $5100 CL

Amex Green - NPSL

Zero balances on all of the above -- I PIF every month before statement closes -- except for Amex, which I allow to report the balance. I had a balance report on the Visa last month as I had some car repairs on it, but that's been paid off and should update early July. The reported balance hasn't affected my EQ FICO score at all, as it was still within the util "sweet spot" for reporting. So, util is good, just waiting for "baddies" to drop.

All in all, it's been nice and sunny here in the garden... all is good.

Re: Garden Club Meeting - July 2012

-Cain- — Sat, 30 Jun 2012 20:56:53 GMT

Hi Tinu & Co., I'm jumping into the garden for my first time. My Costco TE came along last month after having AmEx Green since December. My Discover More CLId in April, about the same time as my BofA secured graduated and grew Rewards. Now it's time to watch them grow.

Re: Garden Club Meeting - July 2012

Anonymous — Sat, 30 Jun 2012 20:59:20 GMT

@-Cain- wrote:
Hi Tinu & Co., I'm jumping into the garden for my first time. My Costco TE came along last month after having AmEx Green since December. My Discover More CLId in April, about the same time as my BofA secured graduated and grew Rewards. Now it's time to watch them grow.

You have some nice "seedlings" to tend there! Congrats, and best wishes on your gardening journey. And welcome to the club!

Re: Garden Club Meeting - July 2012

swpopham — Sat, 30 Jun 2012 21:05:42 GMT

Wife and I are planted! we pulled all reports for each of us and had around 65 inq in the last 24 months! at least all the house inq will fall off next month

Re: Garden Club Meeting - July 2012

RockinRay — Thu, 12 Jul 2012 23:37:38 GMT

Hi Tinu!

I guess one could say that I am in the garden now for many months to come. I have reached the point where I do not need any additonal cards.

In June, I picked up a US Bank Cash + Siggy Visa with a $12k line as well as a Cap 1 Venture with a $5k line, and a Chase Southwest Siggy Visa with a $20k line.,.

I have now closed all of my bottom feeders:

1. Discover $2k

2. Chase Freedom $5k

3. Barclay iTunes Visa $3k

4. Citi Thankyou $4800

5. Macy's $800

6. JCP $2400

7. TJX Rewards $3000

8. PayPal Smart Connect $3500

9. Goodyear $2000

The above are just too much to manage...

In my wallet so to speak:

1. USAA World MC $25k

2. PenFed Cash Rewards Visa $20k

3. PSECU PSL / Visa $20k

4. Amex BCE $22,200

5. Chase Southwest Siggy Visa $20k

6. Cap 1 Venture Siggy Visa $5k

7. Nordstrom Siggy Visa $10k

8. Cap 1 Best Buy Store $7100

9. Target Visa $4k

10. Target Red Card $2500

11. Home Depot $6500

12. Wings FCU Visa $10k

13. US Bank Cash + Siggy Visa $12k

14. Walmart Discover $1600

Plenty of open credit and plenty to manage on my budget! The only card I may add would be the AE Costco. Otherwise I am stcking with the lucky 14 and see if they will grow even further!

I owe thanks to many on this forum for the great advice I have received. This advice along with good income and good scores have put the above portfolio together.

Re: Garden Club Meeting - July 2012

LS2982 — Sat, 30 Jun 2012 21:36:21 GMT

Since it is MLB season and my O's are doing OK:

Current Lineup:

1) Cap1 NHC $750

2) Discover More $1K

3) Barclays Apple Financing Visa $2.2K

4) AMEX Zync NPSL

5) GE Amazon $1.7K

6) GE Walmart $900

7) Cap 1 BB Store $1K

8) Firestone $1.2K

9) GE Lowes $500

On The Bench

GE JCP $450

GE ON $500

GE CareCredit $500

The benchers could be sent back to the minor leagues if they don't produce some CLI's!!!

Gardening away coming up on 4 months!!!

Re: Garden Club Meeting - July 2012

Revelate — Sat, 30 Jun 2012 22:00:26 GMT

Can't have too many mini-quiches!

5 months down, and this is the last one the Garden most likely, ah so close to the Gold Spade! Need to refinance my terribly sub-prime auto loan, and finally looking for a real job rather than waiting for my long-term employer to get their crap together. Two W2 checks and buh buy WFDS.

My seedlings finally started sprouting! Got a nice healthy bump to my FICO in June to 631 when several of my tradelines ticked over the 6 month mark... and that's with a 61% balance so July will be even better; unfortunately, gardening for a while after that probably isn't going to produce the same consistent growth in my little corner of the garden. Also if I get to work in short order, I'm tempted to make a deposit on my BOFA secured account in the next month as I have 4ish months before my graduation date and $5K looks better than $2K for various reasons. May need it also if I get a travel gig, might as well take advantage of business reimbursable expenses with a rewards package.

Final part of this year's plan, app spree at the end of the year is changing a little bit: still Hail Mary Zync app, but debating forgetting everything else as the BOFA card w/rewards changes up my "need" profile a bit. After that it's a gardening till whenever I qualify for a mortgage.

Baby plants:

BOFA Secured - now with 1-2-3 Rewards! - $2000

DCU Secured - $2000

The Artist Formerly Known as Orchard - $300

WFDS Auto loan

USAA secured installment loan

Tracking total value of garden over time (via handy Beacon 5.0 measuring stick!):

12/11: 561

1/12: 571

2/12: 595

3/12: 608

4/12: 617 (27% util)

5/12: 619 (49% util)

6/12: 631 (61% util)

Re: Garden Club Meeting - July 2012

SwiftTone — Sat, 30 Jun 2012 22:12:10 GMT

Hi all. I'm gardening until October/November for the Chase Sapphire Preferred to complete my Chase Trinity.

In the mean time, I'm just running my expenses through my Discover More until 6 months is up so I can request a CLI. Discover More is sitting at $3500 CL and the sole reason I got denied for the CSP in February was because I didn't have similar credit lines of $5000. Hoping to get a Discover CLI to surpass $5000!!

I need a lot of support!

Current line up:

Discover More $3500

Chase Slate $4000

Currently SDed;

Capital One $1000 and $1250

AU on Capital One Venture $9500

Holding out for the CSP and perhaps a BCE at the same time!

Working to build on my DGF in the mean time also!

Re: Garden Club Meeting - July 2012

MarineVietVet — Sat, 30 Jun 2012 22:16:39 GMT

5+ years and still counting.

Re: Garden Club Meeting - July 2012

SwiftTone — Sat, 30 Jun 2012 22:23:32 GMT

@MarineVietVet wrote:
5+ years and still counting.

Hey Marine, I've always wondered what your credit profile is like. Care to share??

Also, happy Independence day weekend! Thank you for your service!!

Re: Garden Club Meeting - July 2012

webhopper — Sat, 30 Jun 2012 22:34:11 GMT

Current lineup:

Amex zync npsl
chase amazon 5k
Discover more 4.2k
nfcu cashrewards visa 22k

3 store cards sitting in a.drawer.

My.gardening plan is lots of water to bring balances.down and hopefully line myself up for a mucho benefinito refinance of my duplex.

App free since march; I'm planning on stepping out of the garden in September.

After the refi ill pick up navcheck. And in January I want to apply for an amex revolver.

Re: Garden Club Meeting - July 2012

sunshine7157 — Sat, 30 Jun 2012 22:57:15 GMT

Hi, everyone! Over the course of the past year I have worked my short-term goals (annuals) with my sights set on my long-term goals (perennials). As of April 2011 my scores were 639 (EX), 645 (EQ), 665 (TU). I had not previously built much of a revolving history (and the couple cards I once posessed I had errantly closed following misguided advise). I only had a couple auto & mortgage accounts. In an effort to build my credit resume', I began planting:

(current mortgage opened in 2005)

4/2011- Car loan, $13,500

5/2011- Orchard Card- $400cl, $60af (Closed May 2012)

9/2011- Home Depot- $1100cl- INQ EX

12/2011- Chase Freedom- $3000cl- INQ EQ

12/2011- Citi Dividend- $1200cl (sp cli 6/2012 to $2000)- INQ EX

1/2012- Amex Zync- NPSL- INQ TU

1/2012- Amex Delta- $2000cl (sp cli 6/2012 to $5000)- No INQ (piggybacked on above INQ)

6/2012- Amex Blue Sky- $2000cl- INQ EX

I now have my reports on lockdown and intend to keep them that way. After having talked to a Chase csr at the exec office I intend to change my Freedom to the Sapphire in December as I was told that a pc is NO pull. Since April of 2011, my EQ FICO went from 645 to 740 which has proven to me that revolving credit (or the lack thereof) is of great importance in this game. Current INQ are EQ 1, TU 1, EX 3 and will turn one year old as above. So clear the path, I'M COMING IN!!!

I should add that I carryover a balance monthly of less than $300 on ONE card (usually Freedom or Delta) to keep at less than 5% util.

Re: Garden Club Meeting - July 2012

luvsandyshores — Sat, 30 Jun 2012 23:46:08 GMT

I'm still gardening. Last app was in March. Today my Cap1 "stepped" from $300-$500. I don't really use that card, but I have my 17 year old as an authorized user on it and he's been pretty responsible with it. In fact, he just took me out for a birthday dinner at a fancy restaurant, and giggled about paying with a credit card with a picture of popsicles on it.

It's too hot to be in the garden, so I've brought some sweet tea for everyone!

My wallet:

Cap1 Platinum $500

Orchard Secured $200

Discover More $1000

Citi AAdvantage $2000

NFCU Cash Rewards $5000

Re: Garden Club Meeting - July 2012

Anonymous — Sun, 01 Jul 2012 00:05:14 GMT

@MarineVietVet wrote:
5+ years and still counting.

By all means, go ahead and pick up your diamond spade -- and some platinum gloves on top of that!

Re: Garden Club Meeting - July 2012

Anonymous — Sun, 01 Jul 2012 00:08:25 GMT

@luvsandyshores wrote:
I'm still gardening. Last app was in March. Today my Cap1 "stepped" from $300-$500. I don't really use that card, but I have my 17 year old as an authorized user on it and he's been pretty responsible with it. In fact, he just took me out for a birthday dinner at a fancy restaurant, and giggled about paying with a credit card with a picture of popsicles on it.

It's too hot to be in the garden, so I've brought some sweet tea for everyone!

My wallet:
Cap1 Platinum $500
Orchard Secured $200
Discover More $1000
Citi AAdvantage $2000
NFCU Cash Rewards $5000

Congrats on getting your Cap1 steps CLI! And a belated Happy Birthday.

And thanks for the tea... very refreshing!

Re: Garden Club Meeting - July 2012

injustifiiable — Sun, 01 Jul 2012 00:23:09 GMT

Hi guys. Silver spade here, almost approaching the 4 month mark.

Lemme have some of that watermelon!

Oh, and edited to add:

The Card formerly known as Household Bank: $400

Capital One Secured: $300

CapOne has been softing me to death too...maybe they are thinking about a CLI???? I think I'd win the Powerball first.

Plan on stepping out in October for a GECRB card (probably Walmart but maybe American Eagle or Old Navy) and AMEX Zync.

Re: Garden Club Meeting - July 2012

Anonymous — Sun, 01 Jul 2012 00:31:23 GMT

Okay, I really, REALLY mean it this time. No falling off the...garden? lol

I will gladly accept CLI's but I WILL NOT APP FOR NEW CREDIT until February 2013.

By then, I will have had 6 inquiries fall off, and the the 38 inquiries - YES, 38 across the 3 CRA's - related to my auto financing shopping will have all aged a year (I really wish I'd known better, but I hadn't financed a car in over 15 years...lesson learned).

Re: Garden Club Meeting - July 2012

CreditChampion — Sun, 01 Jul 2012 00:42:30 GMT

Checking back in for a few years atleast since I now have a card from all the major issuers. All obtained with under 6 months of credit history!

Re: Garden Club Meeting - July 2012

Roarmeister — Sun, 01 Jul 2012 02:34:40 GMT

Pass me the iced tea. I'm still plugging away since April. Paid off 2 cards and paying down the third. Since I'm not planning to apply for any debt within the next year or so I am just keeping the garden clean until I renew the mortgage.