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Paying Debt? Credit Gardening?

Epic Contributor

Paying Debt? Credit Gardening?

Is it just me or is this board just been really quite lately?

I have to reduce my debt by about 20% and I would like to do that in under 3 months so I can refi my car.

Are other people working on a specific goal and that's why not seeing a lot of recent apps and approvals?

Message 1 of 13
Frequent Contributor

Re: Paying Debt? Credit Gardening?

I'm paying down about $2000 in CC balances by December, and waiting for all my new accounts to become 6 months old.  Then I will be applying for a Discover card in January and then on to an Amex Gold in July of 2011 once my most recent EX inq is 12 months old.

My favorite card right now: Fidelity Investment Rewards Visa Signature
Message 2 of 13
Established Contributor

Re: Paying Debt? Credit Gardening?

Here's my plan:


  • Waiting for my 2 new accounts to reach 1 year old (this month) Check!
  • Waiting to close on my house (hopefully this year or early next)
  • Waiting for my final baddie to fall off (March 2011)


Now, I may need to apply for something in between my closing and my mortgage reporting for the first time but I will be on here getting opinions before I do!Smiley Wink



Starting Score: 615
Current Score: 709
Goal Score: 750

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Message 3 of 13
Senior Contributor

Re: Paying Debt? Credit Gardening?

i was actually thinking there was a big rush of people applying for things!


i have been paying our debt down, & i was waiting to get balances down before applying for anything.  i did apply for & get an amazon store card & an express (store) card.


yesterday i applied for a citi card i had received an invitation for, but i got the "wait & see!" message, so now i am on pins & needles!  probably should have app'd for the citi forward, seems like they were approving a lot of those lately.

Latest scores: Walmart TU: 769. MyFICO TU: 769. DCU EQ: 755. MyFICO EQ: 780. PSECU EX: 756. MyFICO EX: 780.
Message 4 of 13
Super Contributor

Re: Paying Debt? Credit Gardening?

What do you mean by no activity. In the last 3-4 weeks, I got 3 Amex cards, GEMB Universal Amex Card. Penfed Promise. I am doing my share to keep the board busy with the apps and approvals.

Message 5 of 13
Senior Contributor

Re: Paying Debt? Credit Gardening?

I am currently working on a Mortgage Refi for lower rate and payment, no money out.    Then I will work on next CC app, only 1!

Message 6 of 13
New Contributor

Re: Paying Debt? Credit Gardening?

My newest cards will hit a year next month. Will app for Citi Forward and a gas card (leaning toward Fort Knox over Penfed) then. I'll probably open an account with Alliant as well for their high interest checking, but won't be bothering with their credit card for a while.

Message 7 of 13
Frequent Contributor

Re: Paying Debt? Credit Gardening?

i'm not a big appaholic.  after mucking up my ccs the 1st time, i spent 7 years living w/o ANY ccs. 


i'm working on-


paying down some debt that i incurred when my income slowed down over the past year + unexpected expenses happened.  i don't like being in debt @ all, so this is my 1st priority


saving for more of an emergency fund b/c while i've come a LONG way, i recently found i don't have enough of an emergency fund


letting my accounts age.  my 'newest' accts hit the 2 yr mark recently, but due to living w/o credit for most of the past 7 yrs, my AAOA is VERY young, so no real point in apping and killing my age


getting inqs down.  down to 0 on ex by the end of this mo., down to 0 on eq in a few mos., tu is now @ 3 bc of CAs popping back up (just when you think they're gone, boom, they ding you again)


waiting until my USAA secured hits 1 yr old + hopefully unsecures (7/11).


waiting for some baddies to drop off- 12/10 marks quite a bit of baddies (student loans reporting wrong) dropping off.


after all that happens, i'll app for my 'dream card'- NFCU...then i'll kill off the last of my 'toy' ccs (bestbuy rewards zone + hooters) unless they give me CLI


oh yes, i'm waiting for target to cli my 200 cc lol

Message 8 of 13
New Contributor

Re: Paying Debt? Credit Gardening?

I've been applying more due to the fact that I need more reward cards lol.  Think I over did it.


Past month applied for becu reward visa, citi aa platium visa, chase select visa all got approved and cl average 7000 limit.  I think they're all copying each other lol.

I haven't checked my credit yet to see what my score is.  I'm sure it's down probably 20points or more.   Though all my credit cards are zero balances. 




Starting Score: TU 797 EQ 798 EX 774 10/26/2008
Current Score: TU 787 EQ 784 EX ??? 09/19/2010
Goal Score: 790

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Message 9 of 13
Established Contributor

Re: Paying Debt? Credit Gardening?

Well since the beginning of June I've gotten...


Citi Platinum Select M/C  $4200

CFNA (WheelWorks) $1800  (car repairs 0% financing for 6 mos)

Chase Southwest Signature Visa  $5000

Citi AA Select Amex  $6000


I have a total of $500 I'm carrying on 2 0% cards and will PIF by the end of next month.  Everything else is paid before statements cut.  The last two I applied for the free flights and the first two were for 0% financing.  From now on I'll only apply for credit that has some really great deal or for a car or home.  I just don't push that much $$ thru CCs to need any more.

CCs: Chase Freedom VS 12.9k, CSP VISA Sg 13k, BofA Amex 24.5k, Discover 12.5k, US Bank Cash+ Visa Sg 17k, Macy's Amex 8k/1.5k, Gap Visa 10k, Best Buy 11.1k, Citi TY MC 10.8k, Citi AA Amex 6k, Nordstrom VS 10k, Costco Amex 12k, BofA CR VS 5k, Amex BCP 13.5k, Amex ED 5k, Sears MC 9k, HD 7k, Target 600, Amazon 7k, US Bank MC 15k, US Airways MC 8k, NFL Visa 4k, Patelco Visa 10k, Penfed PR VS 44.6k, Chase Hyatt VS 8k, Citi Simplicity 13.3k, PayPal MC 7.5k, BBVA Visa 4k, WF VS 14k, FNBO Amex 14.1k, OCCU VISA 15k, TR Visa Sg 16.3k, C1 QS Visa 11k, FRN MC 15k, HSN 4k, Saks WEMC 10k/4k, Chase Ink 18k, Arrival WEMC 10k, Ebates VS 8k, Orbitz VS 12k, NASA V 30k, USBk FP VS 21.5k, DC 30k, VirgAm 15k, Sams MC 15k, Amex Bz Gold, Amex SC 10k, BofW Bz MC 18k
Message 10 of 13