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Utilization

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maetuj
Member

Utilization

Good evening I have a problem and I know you guys will give me the best advise. Here it is. I have 8 cards that are Maxed out and total 13k. I also have a credit card with 21k available. Every time I applied for loans or other cc the denial is due to too many cards with high balance. Keep mind I Karen 4 AU accounts with an extra 50k reporting. What can I do to brindle down my utilization. Please and thank you
Message 1 of 3
2 REPLIES 2
OmarGB9
Community Leader
Super Contributor

Re: Utilization

Honestly with that high utilization and balances all you can really do is pay down.

Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 2 of 3
creditguy
Valued Contributor

Re: Utilization

Outside of adding additional CC's with high limits or getting significant CLI's which seems unlikely at this point, the only thing you can do is pay down your balances. That utilization is probably holding your score down a good deal, so another positive to paying down debt is your score rises and improves your future odds of approval. Good Luck.
Message 3 of 3
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