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Established Member
Posts: 11
Registered: ‎02-09-2009
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High CC util and interest



I am trying to pay off all my credit cards. i will be done with my car loan in the next month so i will have more payments towards credit cards. However my util is high as well as interest. I would love to get a 0% APR card to transfer balances. I got declined when i applied couple of months back. Please advise how would it be possible for me to get a 0% APR card. The accounts i have are Chase, Citi and BofA, so most of the banks offering 0% i already have an account.



Valued Contributor
Posts: 1,749
Registered: ‎08-18-2007
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Re: High CC util and interest

Hi Money


You need to give us more info. What is on your credit reports?


What are your baddies? What is your score? Why were you declined before?


What is your util%?


Give us more info so we can help you



Senior Contributor
Posts: 3,879
Registered: ‎01-10-2008
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Re: High CC util and interest

i was approved for discover 12/08.  i applied intending to to use their zero percent offer as well.  i was v. happily surprised to be approved since my reporting util at time of app. was relatively high, i think 30-40%


however, in general an issuer will not be compelled to approve an applicant with high util., i had some other strong points that i believe they considered:  acct age, time at residence, job & address.  2 amex accts. reporting open date as 1990, i wouldn't be surprised if they also took a weighted risk to sweep me off my feet and away from amex  ie.  to get one of amex long-term customers in good standing under their belt.  once your balances are at least below fifty then you may have a better shot at being approved with a good bt offer, it is probably better to be under 9% before you app, high balances can make you look desperate and raise red flags to lenders, but YMMV.

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover

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