Valued Contributor
Posts: 1,142
Registered: ‎09-01-2011
Re: denied wells fargo secured credit card?

mjb59463 wrote:
Is this still high util?

You have $2,900 in available credit, yet, you owe a total of $321. SO, if you have $2,900 in credit -- for optimal FICO® scoring, you should only have let the $3 owing on the $700 limit store card REPORT on your credit reports -- all the rest of the cards should have ZERO owing when they report.  THEN, your FICO® score will go up, up, UP. 


THEN, after that $3 reports -- pay it off immediately! 


That's how you play the utilization game and increase your FICO® score fast.   


Works for me!  Even though I am not looking to apply for anymore cards for awhile, I still play the utilization game because it helps me stay the course, my credit card bills are always paid EARLY and, our FICO® scores stay at an optimal level from month to month.   Folks here will tell you that living like this is NOT necessary but, I prefer it.  


Again, I wish you the very best! Smiley Happy 



Husband's Current Score: EX 691 CUSC; EQ 694; TU 687; Mine: EX 773 (AMEX); EQ 720; TU 750
Wallet Contents: SECURED: Capital One Platinum Mastercard, US Bank Harley Davidson Visa, USAA Bank American Express;
UNSECURED: Chase Freedom; USAA Cash Rewards World Mastercard, Discover More, CUSC Platinum Rewards Visa, American Express Zinc, American Express Blue Cash Preferred, Amazon Card, Walmart Discover Card