what would you do?

[Anonymous]

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@scorewatcher7 wrote:

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@Anonymous wrote:

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@scorewatcher7 wrote:

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@Anonymous wrote:

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@scorewatcher7 wrote:

A close friend of mine has a high 670 score along all three bureaus. She has outstanding debt of around 9k on one card (90% util over all cards) which is killing her in terms of monthly payments. She applied for a Citi Simplicity to BT at 0%, 12-18 mo. but was denied. Her credit isn't terrible: she has a recent 30 day on a student loan that happened in Dec 2014 (which is probably murdering her score) and another 30 day on a cc that happened in 2011. She doesn't have any other cards except a couple Comenity backed cards with low limits ~500 each. 

My question is this: does anyone think she has a shot with another 0% intro BT. any suggestions? I suggested the Citi Simp because at one time I saw she had a score in the high 700's so I assumed everything was the same. I guess I was wrong. 

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@scorewatcher7,

A high score isn't enough to get approved.  Although the idea is to balance transfer the debt, it is that high util at 90% that is probably resulting in the denial. If I were in her shoes and had a little money, I'd pay the debt down somewhat and then apply, if approve I'd then balance transfer the rest.

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I feel like its the recent 30 day delinquency killing the score. I know her util is high. I guess I was asking whether there's a card out there for her with 0% that she might be able to obtain. 

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She's really gong to have a hard time getting a BT card with that high of utilization.  Sadly when people need one with low interest they usually aren't in the position to get approved.  While the 30 day late doesn't help that's not really what is causing her to be denied.  It's the 90% utilization.

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don't reply to this post. its not supposed to be here. but thank you for the advice..

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Which post?

[scorewatcher7]

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@Anonymous wrote:

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@scorewatcher7 wrote:

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@Anonymous wrote:

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@scorewatcher7 wrote:

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@Anonymous wrote:

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@scorewatcher7 wrote:

A close friend of mine has a high 670 score along all three bureaus. She has outstanding debt of around 9k on one card (90% util over all cards) which is killing her in terms of monthly payments. She applied for a Citi Simplicity to BT at 0%, 12-18 mo. but was denied. Her credit isn't terrible: she has a recent 30 day on a student loan that happened in Dec 2014 (which is probably murdering her score) and another 30 day on a cc that happened in 2011. She doesn't have any other cards except a couple Comenity backed cards with low limits ~500 each. 

My question is this: does anyone think she has a shot with another 0% intro BT. any suggestions? I suggested the Citi Simp because at one time I saw she had a score in the high 700's so I assumed everything was the same. I guess I was wrong. 

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@scorewatcher7,

A high score isn't enough to get approved.  Although the idea is to balance transfer the debt, it is that high util at 90% that is probably resulting in the denial. If I were in her shoes and had a little money, I'd pay the debt down somewhat and then apply, if approve I'd then balance transfer the rest.

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I feel like its the recent 30 day delinquency killing the score. I know her util is high. I guess I was asking whether there's a card out there for her with 0% that she might be able to obtain. 

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She's really gong to have a hard time getting a BT card with that high of utilization.  Sadly when people need one with low interest they usually aren't in the position to get approved.  While the 30 day late doesn't help that's not really what is causing her to be denied.  It's the 90% utilization.

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don't reply to this post. its not supposed to be here. but thank you for the advice..

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Which post?

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this post. I put it in 'approvals' but was informed that maybe it wasn't the right forum for approvals. I had a funny exchange with Irish80- at least, I meant for it to be funny... sometimes my sarcasm can allude people. my apologies if anyone was offended... 

[Anonymous]

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@scorewatcher7 wrote:

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@Anonymous wrote:

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@scorewatcher7 wrote:

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@Anonymous wrote:

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@scorewatcher7 wrote:

---

@Anonymous wrote:

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@scorewatcher7 wrote:

A close friend of mine has a high 670 score along all three bureaus. She has outstanding debt of around 9k on one card (90% util over all cards) which is killing her in terms of monthly payments. She applied for a Citi Simplicity to BT at 0%, 12-18 mo. but was denied. Her credit isn't terrible: she has a recent 30 day on a student loan that happened in Dec 2014 (which is probably murdering her score) and another 30 day on a cc that happened in 2011. She doesn't have any other cards except a couple Comenity backed cards with low limits ~500 each. 

My question is this: does anyone think she has a shot with another 0% intro BT. any suggestions? I suggested the Citi Simp because at one time I saw she had a score in the high 700's so I assumed everything was the same. I guess I was wrong. 

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@scorewatcher7,

A high score isn't enough to get approved.  Although the idea is to balance transfer the debt, it is that high util at 90% that is probably resulting in the denial. If I were in her shoes and had a little money, I'd pay the debt down somewhat and then apply, if approve I'd then balance transfer the rest.

---

I feel like its the recent 30 day delinquency killing the score. I know her util is high. I guess I was asking whether there's a card out there for her with 0% that she might be able to obtain. 

---

She's really gong to have a hard time getting a BT card with that high of utilization.  Sadly when people need one with low interest they usually aren't in the position to get approved.  While the 30 day late doesn't help that's not really what is causing her to be denied.  It's the 90% utilization.

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don't reply to this post. its not supposed to be here. but thank you for the advice..

---

Which post?

---

this post. I put it in 'approvals' but was informed that maybe it wasn't the right forum for approvals. I had a funny exchange with Irish80- at least, I meant for it to be funny... sometimes my sarcasm can allude people. my apologies if anyone was offended... 

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All is good. I'm not offended.

[Anonymous]

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@scorewatcher7 wrote:

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@Anonymous wrote:

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@scorewatcher7 wrote:

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@Anonymous wrote:

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@scorewatcher7 wrote:

---

@Anonymous wrote:

---

@scorewatcher7 wrote:

A close friend of mine has a high 670 score along all three bureaus. She has outstanding debt of around 9k on one card (90% util over all cards) which is killing her in terms of monthly payments. She applied for a Citi Simplicity to BT at 0%, 12-18 mo. but was denied. Her credit isn't terrible: she has a recent 30 day on a student loan that happened in Dec 2014 (which is probably murdering her score) and another 30 day on a cc that happened in 2011. She doesn't have any other cards except a couple Comenity backed cards with low limits ~500 each. 

My question is this: does anyone think she has a shot with another 0% intro BT. any suggestions? I suggested the Citi Simp because at one time I saw she had a score in the high 700's so I assumed everything was the same. I guess I was wrong. 

---

@scorewatcher7,

A high score isn't enough to get approved.  Although the idea is to balance transfer the debt, it is that high util at 90% that is probably resulting in the denial. If I were in her shoes and had a little money, I'd pay the debt down somewhat and then apply, if approve I'd then balance transfer the rest.

---

I feel like its the recent 30 day delinquency killing the score. I know her util is high. I guess I was asking whether there's a card out there for her with 0% that she might be able to obtain. 

---

She's really gong to have a hard time getting a BT card with that high of utilization.  Sadly when people need one with low interest they usually aren't in the position to get approved.  While the 30 day late doesn't help that's not really what is causing her to be denied.  It's the 90% utilization.

---

don't reply to this post. its not supposed to be here. but thank you for the advice..

---

Which post?

---

this post. I put it in 'approvals' but was informed that maybe it wasn't the right forum for approvals. I had a funny exchange with Irish80- at least, I meant for it to be funny... sometimes my sarcasm can allude people. my apologies if anyone was offended... 

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Ah, this post.

This thread angers and confuses me.

[happypill]

I'm actually shocked that your friend has a score in the 670's with 90% utilization and a couple of 30-day lates including one very recent.  That combination seems like it would be a strong indicator of impending trouble to CC companies.  Are those official FICO, or some kind of FAKO?  Is the recent late already factored in?

Instead of a credit card, does she have an option of getting a loan from a local credit union?  I'm not sure if the underwriting would be any different, but at least they could put a face to the numbers; because the numbers seem pretty ugly.

[NRB525]

I guess the first question is, is your friend already making more than the minimum payments on the $9k outstanding? It seems unlikely that a 0% APR BT card will come riding to the rescue in the near term, so time to tighten up the budget, stop buying anything that is not necessary for the sustenance of basic living requirements, and start throwing more money at that debt to get it down to a reasonable level.

Even if a 0% BT offer were obtained, my advice in the first paragraph still stands. Need to stop spending on non-necessary things, like eating out and buying new clothes, to pay down that debt.

[Anonymous]

With a until like hers, I could see why banks are scared to extend her credit. Try to get a loan with a low Apr or just aggressively pay down debts until her credit improves.

[yfan]

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@scorewatcher7 wrote:

A close friend of mine has a high 670 score along all three bureaus. She has outstanding debt of around 9k on one card (90% util over all cards) which is killing her in terms of monthly payments. She applied for a Citi Simplicity to BT at 0%, 12-18 mo. but was denied. Her credit isn't terrible: she has a recent 30 day on a student loan that happened in Dec 2014 (which is probably murdering her score) and another 30 day on a cc that happened in 2011. She doesn't have any other cards except a couple Comenity backed cards with low limits ~500 each. 

My question is this: does anyone think she has a shot with another 0% intro BT. any suggestions? I suggested the Citi Simp because at one time I saw she had a score in the high 700's so I assumed everything was the same. I guess I was wrong. 

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BT is going to be hard, but can she take out a line of credit that has a smaller interest than what she's paying on her credit cards? That should free up some credit, lower utility, and hopefully also lower the minimum payment.

[takeshi74]

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@scorewatcher7 wrote:

My question is this: does anyone think she has a shot with another 0% intro BT.

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Nope.  Utilization is a major rsk factor and she's not likely to get anything approved with utilization that high.  Even if she does she will get low limts and high APR's.  She needs to get it down.

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@scorewatcher7 wrote:

I feel like its the recent 30 day delinquency killing the score. I know her util is high. I guess I was asking whether there's a card out there for her with 0% that she might be able to obtain. 

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Both the derogs and the extremely high utilization matter but even the utilization alone would easily lead to denials.  She needs to work on addressing all of those.  Hit the Rebuilding subform to see what can be done about the derogs.