Brand new to this, need help understanding.

[Anonymous]

I've been given the terms Gardening, Harvest, and a "Round" . I need help wrapping my head around these terms. Any help is much appreciated!🤗

[unsungivy]

Gardening is "tending to the cards that you already have" and not doing anything that results in a hard inquiry/pull to your credit.

I'm curious what the others mean as well...

[GatorGuy]

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@Anonymous wrote:

I've been given the terms Gardening, Harvest, and a "Round" . I need help wrapping my head around these terms. Any help is much appreciated!🤗

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Gardening is when you don't apply for any new credit for a period of time. People do this to let their AAoA increase or let inquiries age off. Also if they are preparing for a mortgage, you don't want any new accounts.

Harvest, I've heard people use it when they are finishing gardening and will be going on an app spree.

I've never heard the term round.

[Anonymous]

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@Anonymous wrote:

I've been given the terms Gardening, Harvest, and a "Round" . I need help wrapping my head around these terms. Any help is much appreciated!🤗

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Gardening is easy.   It can mean you went on a recently app spree(Applying for credit cards in a period of time) but now you're going to cool off from applying for anymore cards for a specific period of time as to let your new credit cards age and put some distance behind you and the credit inquires you just accumulated.  

[NRB525]

I use the term harvest in the context of harvesting a sign up bonus.  

I don't have enough round tuits so can't explain "round".

[ChargedUp]

Gardening is when you kinda put your credit in "Time Out" to let things age. This means no signing up for new accounts and nothing that would add a hard pull to your reports. Soft pull credit line increases are still fine though.

Harvesting I believe is in reference to going after sign up bonuses on new accounts. It could theoretically be used to reference "harvesting" multiple new accounts in a short time span.

A "Round" is what you buy all your friends with your new credit card to help in "harvesting" your sign up bonus!

to MyFico!

[Anonymous]

Don't forget to "poke the bear"

I think it means to ask for a CLI too often that could lead to AA or adverse action.

Thanks

Mark

[unsungivy]

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@NRB525 wrote:

I don't have enough round tuits so can't explain "round".

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When I was a kid, we had a group trip to a guitar factory. The guy giving us the tour handed out wooden discs that had been removed from the body of the guitar, cutting out the hole in the body.

He explained to us that they were "round tuits", and now, we had each gotten a round tuit.

So, I know where you can find a stock... 😏

[Anonymous]

Thank you for that. I appreciate it, all of this seems to be quite confusing and daunting!  

[Anonymous]

I think I starting to understand things a little better. Thank you for this help.

What is an AAoA?

On average how long does it take the inquiries to age off?

My friend uses the term "round", or a "round of funding" and from what I can gather it consist of: approximately 5 credit/loan apps to receive funds, then the negatives get removed from the credit report, and then those two steps are repeated till the first decline. Then I believe it would be time to Garden.