Score Just Broke 700 !! CC Util At 85%

[webhopper]

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@Walt_K wrote:

Agree that you should get your utilization down.  Remember, it's not just about getting approved.  With 700 scores, you might get approved, but with a very low CL.  It would be better to get your utilization under control, and then get approved with a higher initial CL. 

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+1  Agree

[rootpooty]

hey whereis750 you might see 750 lol if you pay that util down!

[Whereis750]

Rootpooty, thanks! Hoping to hit that mark. Though my username won't make much sense once I do!! When I chose it I honestly thought it would take forever to get a score that high.

[jdogi]

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@Whereis750 wrote:

Thank you!  I just ran the myFICO Score Simulator and this is what it says:

For TU:   Best Action - Pay Down 90%-100% of Your Credit Card Balances - Over the Next 24 Months.  Simulated Score:   753-793

For EQ:  Best Action - Pay Down 90%-100% of Your Credit Card Balances - Over the Next 24 Months.   Simulated Score:  780-820

I'm in disbelief - never in my wildest dreams thought I could have scores in those ranges!  The knowledge you all have shared has really been helpful and is a main reason why I'm so far along on this credit journey!  Thank you again guys.

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I think you're going to have to take most of the credit on this one.  They don't give out high scores to people just because they understand how the game is played.

You didn't say how late the lates were, but I wouldn't be at all surprised to see the ~780 when you get your utilization down to a reasonable number (~15%).  In fact, I would be surprised if your scores didn't reach that level.

I would recommend getting your utilization down and then trying to get CLIs on all current accounts that will do CLIs with a soft pull.  Take that fancy new score and some decent existing CLs into your Prime card app.  If you have some decent CLs when you app, you should be able to get a ~10k limit if your income supports it.  With the score you will have, you'll be able to get just about any card out there, except for the really prestigious ones.

EDIT: And congats...you're already a 750, your current report just doesn't know it yet. ;-)

[injustifiiable]

What are your current cards and CL's?

[Whereis750]

My current cards are:

Orchard Bank  $300

Capital One Platinum $1000 (denied twice this year for CLI)

Merrick Bank  $1050

and I'm authorized user on wife's cards:

Blue from AMEX  $2000

BOA Platinum Plus VISA  $500

CITI Dividend MC  $1000

Best Buy    $1500

I had an AMEX that I opened back in 2003 and closed with $0 balance and no lates.  When it comes time to open a Prime CC in my own name, I'm thinking about applying with AMEX since they do the backdating.  Eventually may close the sub prime cards I have - or just may keep them open and paid down to zero.