topic Re: Applying with High UTI in Credit Card Applications

Applying with High UTI

Chrisla2077 — Fri, 26 May 2017 04:04:37 GMT

Hi All - Mods please move if I am putting this in the wrong place.

I have some very high interest CCs after re-building from the low 400s and now at low 600s (due to lingering judgements, 1 paid medical collection, and 1 30-day late on 4 separate accounts. I hit a financial snag for a few months and ended up raising my UTL to about 80%. Anything I've applied for in the last year has rejected due to high UTL. I am in a slightly better position now where I can pay about 1,000 down from my total avail credit of about $17,000...not much I know. Anyway to help, I'd like to try getting another CC w/ a 0% interest rate promotion on BTs. This will help me pay my balances down significantly. Here's my question:

Does anyone know that if when applying with higher utilzation, it is better to indicate that you wish to transfer a balance during the APP process or after?

Re: Applying with High UTI

Aduke1122 — Fri, 26 May 2017 06:16:05 GMT

Anytime you have higher Util it is almost impossible to get a good approval even for Balance transfer purposes, how much do you owe and what are your scores ?

Re: Applying with High UTI

JustBPatient — Fri, 26 May 2017 16:36:56 GMT

Correct. You will have a hard time getting a card with high utility that has any value SL wise. IMO take that 1k per month get your balances down and then apply for a BT card so you can transfer the rest. Good luck!!

Re: Applying with High UTI

Chrisla2077 — Fri, 26 May 2017 18:35:05 GMT

I wish that it were $1000 / mo. It is a one-time amount. I'll need to pay bit-by-bit, but it is difficult to keep up on the mininmum payments with such high interest. Does anyone have any other suggestions that could help me consolidate for lower interest w/o closing my accounts?

Re: Applying with High UTI

Aduke1122 — Fri, 26 May 2017 19:52:16 GMT

If you are a member of a Credit Union or have a good relationship with a bank you can try to get a personal loan for consolidation

Re: Applying with High UTI

Aduke1122 — Fri, 26 May 2017 19:52:30 GMT

How much exactly do you owe