Applying with high utilization on a card

[amakol]

Everyone's mileage varies but I really haven't had issues with high utilization on a couple cards. I have two 0% APR cards that have caused me to have utilizations of 40-80% and 40-60% on each. They didn't prevent me from opening up a Chase Amazon, Amex BCE, approved for 3xCLI and getting a CLI on one of the two 0% APR cards that doubled the CL and halved the utilization because of it.

Now, keep in mind the initial CLs and terms I got on the cards I opened were not as good as the other ones I had (2000 CL, 20%+ APR). So it won't be your best shot at getting great terms off the bat, but if you have use for something now, I don't find it an advantage to deny yourself.

[improvingmycredit]

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@VirusCredit13 wrote:

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@improvingmycredit wrote:

Hummm- What were the reason for denials from PenFed and Chase for their Freedom card?  With everything you've stated, length between apps, time with Amex, no recent derogs and current FICO, I'd think you'd be approved with Amex for the ED card.  Income good?  

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Reason for denials was to low income with PenFed, I think was same with Chase, although I don't remember for sure. I've been looking for a new job with higher salary, and will reapply for PenFed and Freedom along with BestBuy once that happens.

Thanks for your input. I'll wait until I pay off a few hundred dollars on Amex on the 1st, then after new statement arrives and CR updated, I'll go ahead and and try for AMEX ED. 

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It may very well be that the reason you were denied the CLI with Amex has to do with your reaching a internal max credit they are willing to extend based on income.  If your over all profile has improved since your approval from last year with Amex- I'd go ahead an app when you feel the time is right (lower utility ect...) :  worst thing that can happen is you get SP denial likely.  Being an AU on a high limit card can be a 2 edged sword.  To automated algorithms, it looks as if you have a lot of available credit.  If your income doesn't support the ability to pay, it could account for some of your denials.  Something to think about in the future when you get some age on your accounts.

Best of luck to you.  I hope you get the ED card.  

[NoAnchoviesPlease]

I was wondering about that... paid off my three smallest cards this month (500, 750, and 1k CL) and only one has reported so far. When I got a card from my CU, they asked about it, and I mentioned the payoff and the size of the card compared to other accounts. They were okay with it and approved me. 

I'm still procrastinating an Amex app or two, not sure how accepting of the two temporarily maxed tiny cards they'll be. 

[OptimalCS]

Wait until you're util is under 20% on each card