cancel
Showing results for 
Search instead for 
Did you mean: 

Is it time to start gardening or keep on racking them up?

tag
Anonymous
Not applicable

Is it time to start gardening or keep on racking them up?

I recently started building my credit. From age of 18-28 I new very little about how credit, ficos and etc worked. I started researching and doing what I have read on these forums. I started in September 2017 with a 580tu 582eq 586exp. I obtained a boa secured card(600CL) capital one secured(200CL) and a Discover it(1400CL) all back in Sep-Nov. Now in January I obtained a Kohls card(300CL) Target Red card(500CL) and an Overstock(1750CL). My current scores are 651TU, 634EQ, 646EXP. The three store cards have not showed up as HPs and have not been reported yet. My question is should I open any more accounts or hit the garden? How many inquiries is too many? Will i end up hurting my credit? I have 2 baddies from 5 years ago which are medical. My util is 13%. I post small balances on all then PIF day after posting.

And thanks to everyone who posts on this site and others. I couldn't have done it without all your help. The overstock card was obtained through the SCT🤗
4 REPLIES 4
Anonymous
Not applicable

Re: Is it time to start gardening or keep on racking them up?

Depends on your goals.

Message 2 of 5
Anonymous
Not applicable

Re: Is it time to start gardening or keep on racking them up?

Goals as far as What?
Message 3 of 5
Anonymous
Not applicable

Re: Is it time to start gardening or keep on racking them up?

There’s no right answer for number of inquiries. But if you start seeing denials I’d suggest stopping.

As an observation, I’d caution against applying for the sake of applying. Make each card count for you either with bonuses, cash back, benefits, long term strategy, etc.

Racking up a ton of cards will allow them to age together which in the long term will be beneficial to you. Definitely nurture the ones you have especially the Discover as SP CLIs are possible in the future.

Beware of Comenity as they can be a jealous, fickle beast. Also, note secured card issuers monitor your credit as well.

I guess my concern is I don’t want what you do now to stifle you in the future. With a short amount of time 3-6 months and the right utilization, your scores will flourish.

Now to not be the person in a glass house throwing stones, I did a couple of mini-sprees last year when my beginning scores were lower (see signature) but initially I spaced them out at 90 day intervals. Picked up 4 in Aprill...waited 90 days. Picked up one in July...waited 90 days. Picked up a hidden Amex (2 months) and two more...waited, okay, after that I went a little crazy and didn’t wait much.

All that is to say make sure you have a strategy in place for the long-term. Also, make sure the cards you have work for you and aren’t just place holders. Kudos to you in your journey thus far and welcome to the boards.

Also, I’m intrigued by your Target Card. Care to indulge me on your starting limit. I have that card and it’s been stuck at $500 for what feels like a millennia.
Message 4 of 5
Anonymous
Not applicable

Re: Is it time to start gardening or keep on racking them up?

(4thelove) thanks. I really appreciate you and your insight. I think I'm going to hold off on anymore for 90days. I haven't received any 7-10 day messages so far and I'm trying to keep it that way. And as far as the target card they started me at a 500CL
Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.