Gardening after closing

[MainMan]

So we closed yesterday and I just want some opinions from you guys. What credit card is the best to try to get after closing and how long should I wait before applying?

[tooleman694]

I got a lowes card and the Apple Barclay card.

[Mike_B03]

Question is...do you need additional trade lines to improve your score? How many credit cards do you have now?

[tooleman694]

If we are on this board, the answer is probably yes!!!!

I have not applied for a card for like forever so I was so ready to app.

[boomhower]

Give it two or three business days for the loan to fund before apping.  I went on a spree including Lowes, Discover, and Amex after mine last year.  Lowes was the best decision of the group.  It's up to 10k and between the 5% discount and 0% financing it's saved me a lot of money.

[Mike_B03]

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@tooleman694 wrote:

If we are on this board, the answer is probably yes!!!!

I have not applied for a card for like forever so I was so ready to app.

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I'm thinking most people probably can't wait to apply and get something, but that's different than if you actually need it. If you were approved, then most likely you already have 3 tradelines reporting which is all you probably need for credit improvement purposes. I think "gardening" actually means hanging out and not doing anything, just letting time pass by. By applying for new credit, you'll get more inquiries and bring down your Average Age of Accounts, both which will hurt your scores.

Having said that, I would looove to get a Chase United Mileage Plus card for the reward points...haven't had one in a few years and really felt the impact, we used to get at couple trips per year for free and did a lot more traveling. A Restoration Hardware card would be nice too, but Im really trying to buy everything cash and no get into trouble with credit cards.

[MainMan]

I only have one card right now, so yes I do need another card. I'm just afraid of getting denied with a hard inquiry on my credit. We all know how damaging that is. Is a home depot card better than the Lowes?

[MainMan]

I guess the title topic is wrong then lol. I'm not anxious to app I just know that I need at least one more and honestly I would rather a Lowes or home depot rather than a big bank credit card.

[ccubedzx3]

Tooleman, what were your credit scores when you applied at Lowe's and Apple? Did they both give you decent credit limits?

I haven't apped in forever myself, and I only have 1 Wells Fargo Card with a $2700 limit.  My wife has a Gap Card with a $200 limit, utilization is like 5%.

We make about $150k a year with a AAOA is around 9 years. Our DTI is going to be 23% after we get our mortgage....

I just hope if I do app, I get a credit limit in the thousands, not the hundreds....I just don't want to waste apping for small limits...