Plant your credit cards in the garden

When considering new credit cards, you must do so with a plan in mind. By plan, I mean that when you are trying to build credit it is best that you focus on credit cards that will grow rapidly in the garden. “The Garden” is a term for getting a credit card for the primary purpose of growing its credit limit as quickly as possible. The more credit that you have available, the lower your credit utilization. The lower your credit utilization, the higher your credit score.

There are certain department and specialty store cards and the companies that finance them that will raise your credit limits faster than major credit cards like Visa and MasterCard. Comenity Bank and Synchrony Bank are known for giving frequent and large credit limit increases that are all soft pulls that won’t affect your credit scores.

Wayfair and Overstock are two such credit cards that are financed by Comenity Bank that have been known to raise your credit limits to over 30K with very few purchases needed. My initial Wayfair starting limit was just $800. On the day the account opened, I requested a credit limit increase and was instantly granted a $1550 limit. Just three months later my credit limit is $4550.

Given this trend, I predict that my Wayfair credit limit will reach 10K somewhere between the 12-18 month window of initially opening the account. My Overstock credit card has had a similar credit limit increase within the same time frame. That’s potentially 20K worth of available credit within one and a half years. Plant your credit cards in the garden and watch them grow!

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