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Basic Advice

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Anonymous
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Basic Advice

So I was going to garden my credit for a bit however one of the banks I have had annoyed me so I am thinking of switching. The problem is I have a LoC with them. Switching banks I would also want a LoC as well. Looking at my experian my fico 8 was 745 with 2 inq over the last 6 months. The bank I may move to I already have a card with in good standing. Does applying seem reasonable and not so much a fico hit of significance? Oh average age is 6 years.
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Anonymous
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Re: Basic Advice

I think the answer to that depends on why you're gardening and what the bank did to annoy you. Generally, a 745 FICO should be able to withstand a new inquiry and new account if you don't have any major plans for your scores in the coming months. But without knowing why you're gardening or your overall credit situation, hard to say.

Seems like a lot of trouble to close and open up a new LOC over an annoyance with your bank, so for me it would depend on what they did. Might do you some good to give it awhile so that you don't make an emotional decision and see how you feel about it in a month or two. Just my 2 cents...
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Anonymous
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Re: Basic Advice

Honestly I am gardening just because I have little else to do. There are no other cards I really want besides blisspay and I am undecided about an amex. What I like wiht amex is the ulitzation doesnt get calculated (charge card not looking at credit) and they have excellent rewards and services. Plus with no fees for a year that would be sweet. They also have an extended payment option shuld I actually need it, which would be nice too. I am not planning to need anything with super high fico anytime in the next at least 6 months but probably longer. No house plans are in the works for a minimum of a year or more, and unless my car needs replaced no car loans planned.. because I hate car loans. The issue I have is the annoyance I have with my bank may not end up being an isolated issue but I guess I can wait to see. 

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