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should I apply? and what for?

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rmm0707
Member

should I apply? and what for?

Currently working on paying off the cards. Have a zero balance on the citi & lowes,  just paid off the amex, discover is about halfway, and still have a long way to go on capone and usaa. 

 

 

Getting there though, getting there. 

 

Was thinking about applying for another card or two to reduce over all utilzation percentage. Is that a good idea or no? 

Message 1 of 8
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TrialByFire
Established Contributor

Re: should I apply? and what for?


@rmm0707 wrote:

Currently working on paying off the cards. Have a zero balance on the citi & lowes,  just paid off the amex, discover is about halfway, and still have a long way to go on capone and usaa. 

 

 

Getting there though, getting there. 

 

Was thinking about applying for another card or two to reduce over all utilzation percentage. Is that a good idea or no? 


In general it's not a good idea to app with one or more cards close to maxed out  You just paid off Amex, is it reporting the new $0 balance yet? Discover is about 50% util, what about cap1 and usaa?

Message 2 of 8
rmm0707
Member

Re: should I apply? and what for?

cap1 and usaa are around 70% util. 

 

I'll hold off until I bring those balances down.

 

Message 3 of 8
TrialByFire
Established Contributor

Re: should I apply? and what for?

Good idea I think that's your best bet. Just make sure when you do get em paid down and are ready to app the new balances are for sure reporting. <--- made this mistake before Smiley Sad
Message 4 of 8
rmm0707
Member

Re: should I apply? and what for?

will do. 

 

Smiley Happy 

 

 

how long does a late payment stay on the report? 

Message 5 of 8
rmm0707
Member

Re: should I apply? and what for?

to clarify, I don't have a late payment, my friend does and she's just starting to rebuild her credit. 

Message 6 of 8
TrialByFire
Established Contributor

Re: should I apply? and what for?

Late payments can stay up to 7 years unfortunately. If it was just one late payment, possibly a string of lates in a short time period, and the account is in otherwise good standing, your friend can try to GW that lender to remove said late(s). Have your friend check out the rebuilding forum, tons of great info over there.
Message 7 of 8
rmm0707
Member

Re: should I apply? and what for?

will do, thanks!!

Message 8 of 8
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