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p51 wrote:What do people mean when they say gardening? I'm not trying to be funny. I just want some clarification.
Copy-pasting my answer to that from last month....
Broadly speaking, it means you don't apply for new credit for a period of time. The inquiries on your credit report get older and fall off, and the average age of your accounts rises with time. Generally speaking, these two effects improve a person's FICO and general credit-worthiness over time. There are exceptions to this - usually when a person has a lot of bad things and few good things on a credit report. This 'gardening' behavior may also encourage automatic credit limit increases. You are not gardening, however, if you request a credit limit increase but must take an inquiry in the process.
Some people will argue whether you're still gardening or not if you take an inquiry for a phone contract, or if you can manage to open a new account without taking an inquiry. But that's the general idea.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt, Arrival
May close or PC: Prestige, BrooksBros
Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech