So I ignored all advice from MyFico...

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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TheLethargicAge
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So I ignored all advice from MyFico...

Postby TheLethargicAge » Thu Oct 31, 2013 4:19 pm

...and was instantly approved for both the Sallie Mae MC and the Quicksilver (I was approved for the World MC and Visa Signature versions respectively). $10K CL on each one.

1% utilization
AAoA: 4 years and 10 months (before apping)
790 EQ Fico from 10/15
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)


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djrez4
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Postby djrez4 » Thu Oct 31, 2013 4:57 pm

As in "stay in the garden!"? Pish posh. You ticked two off your future card list. There's a reason I don't go to Fico anymore.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

DavidNY
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Postby DavidNY » Thu Oct 31, 2013 10:23 pm

Enjoy your new cards :)

Robrus1
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Postby Robrus1 » Fri Nov 01, 2013 7:56 am

Nice, congrats! Good initial limits, too. I've never done that garden crap and it has never been an issue. With your score, AAoA, and utilization, I don't see anyone turning you down.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

MemberSince99
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Postby MemberSince99 » Fri Nov 01, 2013 10:00 am

How could you trade your gold spade for two great cards? Calling the ERT now..... :)

Just kidding congratulations to you.

My philosophy is, if I see a card I want, I'm going for it if I feel I have a reasonable chance. Life is too short to live always for tomorrow and not go after what you want because some dork on FICO tells you that you are a criminal if you apply for a credit card and leave their precious garden. Good for you for pursuing what you want in life.

I get a kick out of the garden fanatics there. If you have any inquiries, they say you will be declined for too many even if it's 2 or 3. If you don't have any they say you will drop your score if you get any. Bascially to them there is NO good time for you to apply for a card, though they love to tell you about their app sprees for 5 or 10 cards, but that's "different', they were drunk so it's ok. Actually as far as I'm concerned, it IS ok - it's their lives and their credit and really none of my business and I honestly couldn't care less. Do what's right for you and all.

takeshi
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Postby takeshi » Fri Nov 01, 2013 10:55 am

Always consider the source (and its relevance to you).

TheLethargicAge
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Postby TheLethargicAge » Fri Nov 01, 2013 8:03 pm

I apped for those 2 cards because of you, Member :-)

I remembered something you said about inquiries not mattering after a certain point, so I went for it.
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)

tvirk888
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Postby tvirk888 » Fri Nov 01, 2013 11:28 pm

What does garden mean? Not applying for cards until a certain time?
Amex BCE - $20K (11/2014)
Amex Everyday - $20K (04/2015)
Amex Business Gold - NPSL (09/2013)
Bank Of America Cash Rewards - $5K (11/2014)
Chase Freedom - $11,700 (10/2013)
Chase Sapphire Preferred - $18K (11/2014)
Citi Thank You Preferred - $10K (11/2014)
U.S. Bank Cash+ - $5K (03/2015)
Wells Fargo Platinum Rewards - $4700 (05/2009)

Userofcards
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Postby Userofcards » Sat Nov 02, 2013 9:46 am

Yes, that's basically what it means : "not applying for cards until a certain time."

The idea is: each time you apply or a card, your credit score takes a small dent. However, in time (6 months to a year) that impact totally goes away.

Many people on myfico have either bad credit, no credit, or other credit card issues. In their case, it is not wise to apply for a new card every few weeks. They'll probably be turned down for the card, but even if approved, they will likely get a tiny credit line and a high APR. It makes sense for them to "garden" instead of sending out 5 random applications in hopes of an approval.

However, people who have good credit scores really don't need to worry about this as much. If there is a credit card you want, just apply for it. The main exception might be: if you are looking for a mortgage in the next few months, its probably not wise to be seeking out lots of new credit cards.

Anyway, a lot of the "gardening" talk on myfico is overdone and over-the-top. It is also advice that only applies to some people. However, it serves a purpose for some people (namely: those with bad credit and an "addiction" to applying for credit cards).

MemberSince99
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Postby MemberSince99 » Sat Nov 02, 2013 11:01 am

Good for you for going for it. Only you can achieve your goals and inaction isn't going to get you many things in life. And from what I've seen, after 6 months inquiries matter little to most lenders, and even to your score for that matter (they drop off completely after a year in terms of affecting your score though they still show for 2 years).

So congrats :) It's a good feeling isn't it?



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