New Card Please?

[Desmoire]

Good morning everyone! I haven't done an app in 7+ months, and due to a rather large expense for a trip to Europe this summer, my current UTL is 40%. If possible, I would like to app for a card that will bump my avail credit thus lowing my UTL while I pay it off. 627 FICO, $13,100 total credit limit across all cards.

I can't get NFCU and I already have Barclay. Any ideas? Maybe a different credit union that is very generous with inital CL's given my current situation?

Thanks a ton guys!!

[jamesdwi]

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@Desmoire wrote:

Good morning everyone! I haven't done an app in 7+ months, and due to a rather large expense for a trip to Europe this summer, my current UTL is 40%. If possible, I would like to app for a card that will bump my avail credit thus lowing my UTL while I pay it off. 627 FICO, $13,100 total credit limit across all cards.

I can't get NFCU and I already have Barclay. Any ideas? Maybe a different credit union that is very generous with inital CL's given my current situation?

Thanks a ton guys!!

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Sounds like you would be too hot for most decent card companies, you haven't shared your individual card UTL, but it wouldn't be out of the norm that with a 40% UTL you may have one or more cards that are over 80%, which most lenders considers Maxed out. With a 627 FICO, your also on the low side of approvals. If you were approved for anything it would be a low limit card with a high APR and possible a AF as well with no rewards to speak of. Would an additional $500 CL really help your situation. 

I would keep paying the cards you have, ask for SP CLI's possible, when your UTL is under 30% and no cards are reporting over 60% you will have a better chance for something worth keeping, idealy you would want your UTL to be under 10% when applying when you are starting out. 

[Desmoire]

Thank you!

[SunriseEarth]

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@jamesdwi wrote:

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@Desmoire wrote:

Good morning everyone! I haven't done an app in 7+ months, and due to a rather large expense for a trip to Europe this summer, my current UTL is 40%. If possible, I would like to app for a card that will bump my avail credit thus lowing my UTL while I pay it off. 627 FICO, $13,100 total credit limit across all cards.

I can't get NFCU and I already have Barclay. Any ideas? Maybe a different credit union that is very generous with inital CL's given my current situation?

Thanks a ton guys!!

---

Sounds like you would be too hot for most decent card companies, you haven't shared your individual card UTL, but it wouldn't be out of the norm that with a 40% UTL you may have one or more cards that are over 80%, which most lenders considers Maxed out. With a 627 FICO, your also on the low side of approvals. If you were approved for anything it would be a low limit card with a high APR and possible a AF as well with no rewards to speak of. Would an additional $500 CL really help your situation. 

I would keep paying the cards you have, ask for SP CLI's possible, when your UTL is under 30% and no cards are reporting over 60% you will have a better chance for something worth keeping, idealy you would want your UTL to be under 10% when applying when you are starting out. 

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+1.  I don't think a new CC as part of a UTIL strategy would work for the OP.

OP, I would definitely suggest getting that UTIL down through payments or through CLIs.   Also, working on any baddies on your CRs can open up A LOT of doors.