11-17-2009 05:37 PM
11-17-2009 06:08 PM
To calculate utilization percentage, you divide your usage by your total credit limits. Move the decimal, and you have a percentage:
$9,927 / $149,650 = 0.0663 x 100 = 6.63%
So...your utilization is only 6.63%.
What reasons are you getting for the denials? You do have quite a few inquiries, so that could certainly be an issue. You may want to be very careful before you app again until you know exactly why you are being turned down.
Also, you comment that the CRs never catch up with your PIF status. Do you pay before the statement cuts each month? If you do, your credit cards should be reporting zero balances.
11-17-2009 06:27 PM
Will any of your inquiries turn one year old any time soon? They will count against you until they are a year old. If you can survive without apping for anything right now, it seems best to give your inquiries some time to age.
We try to pay our cards online about two days before the statement cuts. This is not always enough time. Also, there are usually charges floating out there that haven't hit yet. We're not apping for anything more right now, so I'm OK with that, but if I wanted to show very little utility, then I would pay about three days before the statement cut date, but I would quit using the card a couple of days before that and not use it again until the statement cut.
Utilization doesn't seem to be your credit issue, though. Credit has gotten a lot tighter, and you don't want to app any more than necessary.