SHOULD I START GARDENING?

[Anonymous]

Hello,

I'm trying to rebuild my credit... 

I have a Credit One card $650 (balance is $100), a Macys Card $1200 (balance is $80), Open Sky $300, and Capital One secured card $300 also.

I just applied for Merrick Bank $1000 (7 months of good payments and it should  go up to $2000, they said), and a Venus card (clothing) for $500.

Should I start gardening?

Exp 611 Trans 623 Equ 631

Thank you in advance!!

[killer_queen229]

Yes I would start gardening. Garden for a bit, let your accounts age and let your scores go up. I would not apply for anymore secured cards.

[Anonymous]

Thanks for the reply!

will do, thanks.

[joedtx]

Ditto on what Queen just said.

Just wanted to add that you currently have  4 secured cards several of these are predatory type companies once your scores start climbing to where you are in the mid 600's begin on cutting back 2 of those cards and apply for something unsecured, just come back for suggestions and they'll be someone here to help guide you. Good Luck!

[killer_queen229]

Yes, don't apply for more secured cards. It's not going to do the job faster. Let your accounts age and history grow and you'll see there's better cards out there then all these secured cards you have.

[dropluvnotbombs]

Yes garden for around a year, after that maybe try for QS/QS1 or something similar. Close Credit One, Open Sky & Merrick Bank when you get better cards. No since in having the fees for those after you get your scores up a bit. They will still be on your CR for 10 years after closure.

[Anonymous]

New, to the board. Please explain gardening. thanks

[Anonymous]

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@Anonymous wrote:

New, to the board. Please explain gardening. thanks

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Gardening is NOT applying for new cards... 

[Anonymous]

The question was what IS gardening.

[killer_queen229]

Gardening is not applying for new credit or taking hit with HPs