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Am I gardening??

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psylentj
Established Member

Am I gardening??

Im fairly new here.    I'm going to be gardening the next 8 months this year to increase my score and finally get a new car near end of year.   Paying my current auto loan off in March after 3 years of no missed payments.

 

My main question is if opening a couple of secured cards in the next 30 days would disqualify me as "Gardening"?   I dont think they require a HP on my credit right?   

 

I have about 3 or 4 very old collection accounts and a couple paid collections that will fall off in the next 8 or 9 months.   I have just 1 credit card that I pay on time each month and keep below 10% currently(Capital One @ 29%).   I just opened a savings account with my local credit union w/ about $1200 in it and also opened a PennFCU account and have $2000 in that.    

 

I want to open a $1000 secured card with my local CU and a $2000 one with my PFCU account to start adding some positive credit.  But that is it for a long time.    Am I still gardening? 

 

Please let me know  Smiley Tongue

Starting Score:  EQ: 620    TU: 596    EX: 622    
Current Score:  EQ: 639    TU: 614    EX: 648    
Goal Score:      EQ: 810    TU: 800    EX: 815    

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Message 1 of 13
12 REPLIES 12
Anonymous
Not applicable

Re: Am I gardening??

If you are opening up new accounts then you are not gardening.

Message 2 of 13
UncleB
Credit Mentor

Re: Am I gardening??


@Anonymous wrote:

If you are opening up new accounts then you are not gardening.


+1

 

Taking HPs or opening new accounts that will report to the credit bureaus all reset your 'garden' date, at least that's the rules our community has agreed to hold ourselves to.

 

That's not to say that adding new acocunts is always a bad thing - it's not! - but it's not gardening.

 

Once you're finished adding your accounts and you're ready to 'garden' your credit feel free to join us in the Garden Club thread.  We chat about a little bit of everything there, except for new applications and approvals, of course.  Smiley Wink

Message 3 of 13
psylentj
Established Member

Re: Am I gardening??

Thank you!

 

I guess I'll have to wait a bit to request my seedling LOL.   But gardening is definitely in my 2019 future!  Smiley Wink

 

Starting Score:  EQ: 620    TU: 596    EX: 622    
Current Score:  EQ: 639    TU: 614    EX: 648    
Goal Score:      EQ: 810    TU: 800    EX: 815    

Take the myFICO Fitness Challenge
Message 4 of 13
Gmood1
Super Contributor

Re: Am I gardening??

Do not pay your auto loan off completely before you go after the next. Unless you have another installment loan? You're likely to lose 30 points when the auto loan reports paid off.
Time that last payment the same week of your next purchase if possible.
Right now, you should concentrate on building a profile.
The garden will be there when you are ready.
As nice as the garden is, you can't build a credit profile sitting in the garden. lol

You may be eligible for non secured CCs. Are those your current scores in your signature?
Once your baddies drop off. Your scores will skyrocket, but you really need to keep the installment loan reporting a little longer.
You can grab your other non secured credit cards after the baddies fall off.
Message 5 of 13
pinkandgrey
Senior Contributor

Re: Am I gardening??

Any new accounts or hard inquiries results in “leaving the garden.” The only credit-related change that is allowed while in the garden is SP CLIs. 

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Message 6 of 13
Anonymous
Not applicable

Re: Am I gardening??


@pinkandgrey wrote:

Any new accounts or hard inquiries results in “leaving the garden.” The only credit-related change that is allowed while in the garden is SP CLIs. 


*HPs for credit-related purposes reset your garden date.  HPs for checking\savings accounts, employment, utilities, and other non-credit- related reasons are considered "okay" and do not represent an escape from the Garden.  

Message 7 of 13
Remedios
Credit Mentor

Re: Am I gardening??


@Anonymous wrote:

@pinkandgrey wrote:

Any new accounts or hard inquiries results in “leaving the garden.” The only credit-related change that is allowed while in the garden is SP CLIs. 


*HPs for credit-related purposes reset your garden date.  HPs for checking\savings accounts, employment, utilities, and other non-credit- related reasons are considered "okay" and do not represent an escape from the Garden.  


Do you write disclaimers for living?  

Message 8 of 13
Anonymous
Not applicable

Re: Am I gardening??


@Remedios wrote:

@Anonymous wrote:

@pinkandgrey wrote:

Any new accounts or hard inquiries results in “leaving the garden.” The only credit-related change that is allowed while in the garden is SP CLIs. 


*HPs for credit-related purposes reset your garden date.  HPs for checking\savings accounts, employment, utilities, and other non-credit- related reasons are considered "okay" and do not represent an escape from the Garden.  


Do you write disclaimers for living?  


Yes, but we call them assumptions and exclusions. Smiley Very Happy  

Message 9 of 13
psylentj
Established Member

Re: Am I gardening??

@Gmood1 Thanks for the advice.  Those are my current scores in my siggy. 

 

My current auto loan will be paid off in 2 months.  How am I able to stall that?      I really dont want to get another auto loan until my score goes up again in the fall.

 

Starting Score:  EQ: 620    TU: 596    EX: 622    
Current Score:  EQ: 639    TU: 614    EX: 648    
Goal Score:      EQ: 810    TU: 800    EX: 815    

Take the myFICO Fitness Challenge
Message 10 of 13
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