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OK, thanks for your help. I think I'll see what happens with the WF request and then give Credit Solutions a call.
@desertdweller wrote:Do you all think it would be worth it to ask for CLIs with my utilization being so high?
Nope. Always consider this:
http://www.myfico.com/crediteducation/whatsinyourscore.aspx
Utilization (Amounts Owed) is the second biggest slice. Further, you have more than one maxed line and those are additional dings. Get the ones above 90% down as quickly as possible and then work on getting them all down. You definitely do not want to be balance chased or you'll end up in a maxed out utilization spiral.
@desertdweller wrote:OK, thanks for your help. I think I'll see what happens with the WF request and then give Credit Solutions a call.
There's no harm in asking for SP CLI's although I'd say chances are slim. But you never know...
As others have indicated, the best way to reduce UTL is by paying off balances, not increasing credit lines. This board is littered with examples of people trying the latter approach and getting themselves into big, big trouble.
Before making a decision regarding my credit, I always find it's helpful to put myself in the position of the creditor(s). If I was a banker and someone walked in with one maxed out credit card and ~75% overall UTL seeking a CLI, would I consider extending them more credit? The answer is probably no...unless they had a long, established history of paying debt on time/low UTL and the 75% was just a temporary "blip".
The good news for you is most likely a computer will be making the decision, not a person. If you fit into the parameters of whatever pre-determined mathematical model they've set up, you might be able to sneak through.
Good luck!
I've been repeatedly denied by India Credit Solutions... I can only assume it's due to my Ch 13 because it sure isn't my utilization with them ( $250 balance on $9200 limit across 4 cards) nor is it my 6-8 month payment history.
Walmart did give me a $100 auto increase 2 months ago... Big deal.
I hear maxing out cards and carrying a balance is the best way to get love from GE so it might be right up your alley OP...
Let us know.
@TRC_WA wrote:I've been repeatedly denied by India Credit Solutions... I can only assume it's due to my Ch 13 because it sure isn't my utilization with them ( $250 balance on $9200 limit across 4 cards) nor is it my 6-8 month payment history.
Walmart did give me a $100 auto increase 2 months ago... Big deal.
I hear maxing out cards and carrying a balance is the best way to get love from GE so it might be right up your alley OP...
Let us know.
Really??? This seems like a great way to get an AA or CLD. Although I don't have a lot of experience with GE, so maybe they use a different model than others...
OP, I still think your best bet is to get those balances down first.
@Dw4250 wrote:
@TRC_WA wrote:I've been repeatedly denied by India Credit Solutions... I can only assume it's due to my Ch 13 because it sure isn't my utilization with them ( $250 balance on $9200 limit across 4 cards) nor is it my 6-8 month payment history.
Walmart did give me a $100 auto increase 2 months ago... Big deal.
I hear maxing out cards and carrying a balance is the best way to get love from GE so it might be right up your alley OP...
Let us know.Really??? This seems like a great way to get an AA or CLD. Although I don't have a lot of experience with GE, so maybe they use a different model than others...
OP, I still think your best bet is to get those balances down first.
I was being half sarcastic... And I say half because GE is confusing. I get declined but have seen people with lower scores and higher utilization get CLI on demand. People keep saying to go for it every 4 months and I have... with no luck other than the $100 joke CLI from Walmart.
I don't need the credit... Just a little frustrated with GE and their stubborn ways.
@TRC_WA wrote:
@Dw4250 wrote:
@TRC_WA wrote:I've been repeatedly denied by India Credit Solutions... I can only assume it's due to my Ch 13 because it sure isn't my utilization with them ( $250 balance on $9200 limit across 4 cards) nor is it my 6-8 month payment history.
Walmart did give me a $100 auto increase 2 months ago... Big deal.
I hear maxing out cards and carrying a balance is the best way to get love from GE so it might be right up your alley OP...
Let us know.Really??? This seems like a great way to get an AA or CLD. Although I don't have a lot of experience with GE, so maybe they use a different model than others...
OP, I still think your best bet is to get those balances down first.
I was being half sarcastic... And I say half because GE is confusing. I get declined but have seen people with lower scores and higher utilization get CLI on demand. People keep saying to go for it every 4 months and I have... with no luck other than the $100 joke CLI from Walmart.
I don't need the credit... Just a little frustrated with GE and their stubborn ways.
My bad TRC...lol. Yeah that is ridiculous you cannot seem to budge them, especially with a Wally card. Your UTL is excellent...do you have any baddies?
My only account with GE (Lowe's), I was initially approved for $800...called credit solutions and bumped up to $6000 instantly. I believe if rejected, you can try once a month, not every 4 month...just fyi.
@Dw4250 wrote:
@TRC_WA wrote:
@Dw4250 wrote:
@TRC_WA wrote:I've been repeatedly denied by India Credit Solutions... I can only assume it's due to my Ch 13 because it sure isn't my utilization with them ( $250 balance on $9200 limit across 4 cards) nor is it my 6-8 month payment history.
Walmart did give me a $100 auto increase 2 months ago... Big deal.
I hear maxing out cards and carrying a balance is the best way to get love from GE so it might be right up your alley OP...
Let us know.Really??? This seems like a great way to get an AA or CLD. Although I don't have a lot of experience with GE, so maybe they use a different model than others...
OP, I still think your best bet is to get those balances down first.
I was being half sarcastic... And I say half because GE is confusing. I get declined but have seen people with lower scores and higher utilization get CLI on demand. People keep saying to go for it every 4 months and I have... with no luck other than the $100 joke CLI from Walmart.
I don't need the credit... Just a little frustrated with GE and their stubborn ways.
My bad TRC...lol. Yeah that is ridiculous you cannot seem to budge them, especially with a Wally card. Your UTL is excellent...do you have any baddies?
My only account with GE (Lowe's), I was initially approved for $800...called credit solutions and bumped up to $6000 instantly. I believe if rejected, you can try once a month, not every 4 month...just fyi.
I just have the Ch 13 discharged in May 2013. No collections... Charge offs... etc. I've gotten a lot of love elsewhere but for some reason GE gives me a hard time. I quit trying... The love button results in "this account can't be upgraded online" and calls to India Credit Solutions result in denial.
But Walmart gives me a $100 increase in early April.... after previous CLI denials. I don't get it.
[Edit: everything]
Paying off your debt is more important than trying to improve your score at this point.
For some perspective, I had a 684 Equifax in February. And that was at 20% utilization (whoopee... ). Same type of profile with balances on multiple cards. But if I was carrying a balance, the difference between interest charged from 74% to 20% util would have been huge.
@watch44 wrote:[Edit: everything]
Paying off your debt is more important than trying to improve your score at this point.
For some perspective, I had a 684 Equifax in February. And that was at 20% utilization (whoopee... ). Same type of profile with balances on multiple cards. But if I was carrying a balance, the difference between interest charged from 74% to 20% util would have been huge.
Oh yeah I know.
I just paid down my cards from 23% to 16%. FICO simulator says I'll get a 10 point increase from that... I guess I'll find out when my BECU card reports mid month...