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Garden Club Meeting for July 2011

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Moderator Emeritus

Garden Club Meeting for July 2011

Hello, fellow credit gardeners!

 

Once more, it's the beginning of a new month. Some of our members have just finished applying for new lines of credit and are sitting back to let them grow; others have been doing so for quite a while. Whether you are new to the garden or have invested a great deal of time in tending to your CCs, please feel free to grab your watering can and gloves, grab a chair, and welcome each other to the monthly Garden Club meeting. Smiley Happy

 

I've had a wonderful month! As some of you may have read, my Cap1 Visa card came up for a periodic AR, and I was given an auto 5000 CLI, bringing my CL to 6400!!! I was taken completely by surprise. I really didn't expect this account to grow. But, I believe that it's because I have had a very long history with Cap1 (this card is from 1999) AND..... because all of the hard work that I've done this past year has started to pay off. I was maxed out and/or OTL on all of my cards a year ago. Now, I have one final payment to make on one card this month, and I will be 100% free of consumer debt! Until I found these boards, I never really understood just how big a role util plays in one's credit rating. As of this morning, my util is at 3%.

 

Also, I pulled my FICO scores this morning. After a couple of months of stalling due to having added two cards back in April, my scores are moving forward once more. I received a 9 point boost on EQ, and an 11 point boost on TU. My new scores are reflected in my sig.

 

I'm still waiting for my backdated (1987) Amex to appear on my reports; I'm sooooooo eager to see what that does for my scores. Keeping my fingers crossed...

 

The recent experience that I had with Cap1 has caused me to reevaluate my CC goals. I have been working towards getting rid of my subprime cards and replacing them with prime cards. The sole exception is Cap1; I intend to hang on to them for the long term. The Visa is my oldest active TL, and I do like the Cash Rewards MC. My original plan was to:

 

Dump FP (already dumped one back in April, will definitely dump the second one in September)

Dump Orchard

Eventually apply for: Bank of America Platinum Plus MC -- version that supports my alumni association

                                  Wells Fargo Platinum Visa -- I bank with Wachovia -> Wells Fargo

 

I'm thinking of modifying my plan as follows:

 

Hang onto Orchard for another year, just to see who might wind up buying them out. Call to see if they will reduce/waive AF.

 

Keep BoA as a future goal. BUT... since I'm looking for a prime Visa card, I think that it makes more sense to hold off and see what happens with my Cap1 Visa. I've had it a looooong time, and they just grew the CL for me. I spoke with a CSR about the possibility of adding rewards to it. He made some notes on my account for my next AR, stating that I would be interested in a Venture. Another poster on this board mentioned that her DH was upgraded, so it's clear that they do this on some accounts. So, I'd rather hold off on apping for a prime Visa card and seeing if my existing Visa evolves into one. Why decimate my AAoA any further if I don't have to? Smiley Wink

 

In the meantime, my current accounts are serving me well. Every card plays a role in my garden and is doing its job well. The CLI on the Visa and the backdated Amex are really adding a lush feeling to my credit landscape, so different from the barren atmosphere of a year ago. Gardening is hard work, but it's so worth the time and effot!

 

So, how is everyone else doing? Please feel free to post and share your experiences. Gardening is more fun when community members come together to foster a sense of shared comradrie! Smiley Happy


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 1 of 46
45 REPLIES 45
Frequent Contributor

Re: Garden Club Meeting for July 2011

Happy July!

 

And congrats on your Cap 1 card and sounds like you have an awesome plan and great goals set out for yourself.  Good job!

 

I recently received 5 new credit cards and 1 auto loan.  Back in February I had no open accounts on my credit report except some closed/curent accounts and a few baddies that i have managed to clear up most.  These recent new credit cards did lower my AAOA considerably, I'm now sitting at 1yr 10mo for my AAOA but at least now I have open accounts and credit showing on my reports. 

 

My new auto loan and my 2nd Cap1 card are not reporting yet but should hit my reports any day now. I hate to see how low my scores will drop then as they have already taken a hit.  But, oh well...I'll learn to practice patience and wait to for my new seeds to grow.  I truly hope I see it in 6months but I know I realize it may take up to a year to see good results.  

Message 2 of 46
Frequent Contributor

Re: Garden Club Meeting for July 2011

I am in garden mode right now.  Nothing new since April 2011.  Going to keep it that way until at least September of this year.

 

Only CLI requests going on now, and only ones that are soft!

 

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My favorite card right now: Fidelity Investment Rewards Visa Signature
Message 3 of 46
Frequent Contributor

Re: Garden Club Meeting for July 2011

Grats on your card and goals!!

 

The only card (and i've said this before in other posts) that i really want is a Bloomies card Smiley Very Happy. May app when my inquires fall off Experian and TU.

 

Other than that, my last app was in Decemeber. Next year I'm going to have 2 very old accounts I was an AU on drop off. So I'm thinking I'll app for another Amex card as they backdate, and it'll help my AAoA. But that's it. Never thought I'd say this, but I have more than enough credit..lol

 


Starting Score: 600s
Current Score: EQ 08 798 on 5/28/14, TU 792 on 5/27/4 via Barclay, EX 798 on 5/28/14
Goal Score: 760


Take the FICO Fitness Challenge

.
Message 4 of 46
Valued Contributor

Re: Garden Club Meeting for July 2011

Starting gardening mode here.

 

BofA and Zync are in my wallet now, the others are in the sockdrawer.  If Citi showed pending charges, BofA would go in the drawer and I would enjoy the benefits of World MC + Amex Charge (return protection, warranties, etc. on any purchase, any card), plus the concierge service on the World M/C, but alas, Citi's website is just as bad/worse than Discover's... :/

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |
Message 5 of 46
Frequent Contributor

Re: Garden Club Meeting for July 2011


@smc733 wrote:

Starting gardening mode here.

 

BofA and Zync are in my wallet now, the others are in the sockdrawer.  If Citi showed pending charges, BofA would go in the drawer and I would enjoy the benefits of World MC + Amex Charge (return protection, warranties, etc. on any purchase, any card), plus the concierge service on the World M/C, but alas, Citi's website is just as bad/worse than Discover's... :/


PLUS ONE!

 

Which is too bad, because I love my Citi cards.  ALways soft pulls for CLI's and I always get $1k+ every 3 months.

 

Pending charges would be awesome, I mean, come on Citi even Chase gives pending now.

-----------------------
My favorite card right now: Fidelity Investment Rewards Visa Signature
Message 6 of 46
Valued Contributor

Re: Garden Club Meeting for July 2011


@jthedges wrote:

@smc733 wrote:

Starting gardening mode here.

 

BofA and Zync are in my wallet now, the others are in the sockdrawer.  If Citi showed pending charges, BofA would go in the drawer and I would enjoy the benefits of World MC + Amex Charge (return protection, warranties, etc. on any purchase, any card), plus the concierge service on the World M/C, but alas, Citi's website is just as bad/worse than Discover's... :/


PLUS ONE!

 

Which is too bad, because I love my Citi cards.  ALways soft pulls for CLI's and I always get $1k+ every 3 months.

 

Pending charges would be awesome, I mean, come on Citi even Chase gives pending now.


I know!  Citi is my favorite right behind Amex.  A World M/C that reports the limit is like heaven to a FICO addict....  IDC about pending charges on the iPhone (BofA/Chae do this, not Amex), but it really helps financial planning to see them online once or twice a week to track spending.

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |
Message 7 of 46
Frequent Contributor

Re: Garden Club Meeting for July 2011


@smc733 wrote:

@jthedges wrote:

@smc733 wrote:

Starting gardening mode here.

 

BofA and Zync are in my wallet now, the others are in the sockdrawer.  If Citi showed pending charges, BofA would go in the drawer and I would enjoy the benefits of World MC + Amex Charge (return protection, warranties, etc. on any purchase, any card), plus the concierge service on the World M/C, but alas, Citi's website is just as bad/worse than Discover's... :/


PLUS ONE!

 

Which is too bad, because I love my Citi cards.  ALways soft pulls for CLI's and I always get $1k+ every 3 months.

 

Pending charges would be awesome, I mean, come on Citi even Chase gives pending now.


I know!  Citi is my favorite right behind Amex.  A World M/C that reports the limit is like heaven to a FICO addict....  IDC about pending charges on the iPhone (BofA/Chae do this, not Amex), but it really helps financial planning to see them online once or twice a week to track spending.


TAKE A HINT CHASE!!!!!!!!!!!!!!!!!!

-----------------------
My favorite card right now: Fidelity Investment Rewards Visa Signature
Message 8 of 46
Valued Contributor

Re: Garden Club Meeting for July 2011

AND BOFA!!!!

BofA Cash Rewards VS - $25k | Citi Double Cash World MC - $18.9k | Amex BCE - $50k | Discover it - $50k | Chase Freedom Unlimited VS- $10k | Barclay Ring $5k |
Message 9 of 46
Moderator Emeritus

Re: Garden Club Meeting for July 2011


@smc733 wrote:

AND BOFA!!!!


As stated above, BoA is on my CC wishlist. I want it because of its support of my alumni association. I know that there are other cards that offer better rewards, but sentimental/emotional reasons are at play here for me. When it comes to deciding what is of value in life, intangibles do count.

 

So... what can you tell me about BoA, good or bad. And, how difficult is it to qualify for a Plantinum MC? Not a World MC, just the 1% cash rewards card. I'm not ready to apply just yet -- still lots of gardening to do -- but I'd like to get a feel for what their approval criteria is like.

 

Thanks in advance for any insight!


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 10 of 46
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