Decreased my Utilization from 80% to 60% - Should I wait to Apply for Chase Slate, or Apply Now?

[Girlzilla88]

AHHHHHHHHHHHHHHHHH Blue no 42 no wait 16.......A squared plus B squared = C squared?!

[Remedios]

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@Girlzilla88 wrote:

AHHHHHHHHHHHHHHHHH Blue no 42 no wait 16.......A squared plus B squared = C squared?!

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[Girlzilla88]

I need an Adult!

[Anonymous]

@leo222 your scores are not high enough for Chase or Barclays. Combined with your utilization thats going to be a denial. Thats the hard truth about credit. Those who need it the most have the hardest time of getting it. options:

Option 1 is bsacilly what you wanted to do when you created this thead. Find a balance transfer card. Find another lender thats not Chase or Barclays that has 0% offer. For this I think you need a credit union. This is what they do. I would try local but some of the larger national credit unions might appeal to you. 

Option 2 is just deal with the interest. Continue to snowball (which you are already doing by paying down the smallest AMEX). Pay off one compleley, then the next, then the next. The downside to this is your will be paying interest. Which you were already doing while going through your financial crisis anyway. 

[leo222]

Thanks everyone for your replies, they've been really helpful! I should add (and I think I stated it before), that I think I over-estimated my utilization. Discover has an online FICO Scorecard, and they have my revolving utilization at 77% (not 98%). Obviously, it would be best to get the actual credit report, to be exact, but that would mean that my updated utilization (once the CC companies report the new lesser balances) should also be lower than 70%.

Again, I appreciate the help!

[leo222]

Just to update further, I downloaded my credit report. I had a LASIK loan with Care Credit that I paid off a few years ago that remained open, as well as a couple retail cards with no balances that I hadn't taken into account. The utilization will be around 60%.

[kilroy8]

It sounds like you are already in pretty deep.

New cards = opportunity to get deeper and deeper.

What's the exit strategy?

[randomguy1]

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@Anonymous wrote:

@leo222 your scores are not high enough for Chase or Barclays. Combined with your utilization thats going to be a denial. Thats the hard truth about credit. Those who need it the most have the hardest time of getting it. options:

Lower scores have been approved for both creditors although the lower the score, the lower your chances. Also need to mention that score is not everything. YMMV and it's different for every profile and every lender. 

I was approved for the Uber Visa around 650. In this particular case, I believe the UTIL is too high. 

[leo222]

@kilroy8

Thanks for your reply, but I'm not looking to spend with those cards, I'm looking to balance transfer with 0% so I save money on interest as I pay down remaining debts.

[Anonymous]

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@randomguy1 wrote:

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@Anonymous wrote:

@leo222 your scores are not high enough for Chase or Barclays. Combined with your utilization thats going to be a denial. Thats the hard truth about credit. Those who need it the most have the hardest time of getting it. options:

Lower scores have been approved for both creditors although the lower the score, the lower your chances. Also need to mention that score is not everything. YMMV and it's different for every profile and every lender. 

I was approved for the Uber Visa around 650. In this particular case, I believe the UTIL is too high. 

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Read why the OP wants a new card. Balance transfer. The Uber Visa does not have a 0% balance transfer. We do not mean just getting approved, but getting approved for one of their 0% balance transfer cards with a limit useful enough to do a balance transfer. The Uber Visa with its notoriously low limits and high interest is not going to help the OP. The OP asked about Barclays but they mean the Aviator Red or JetBlue plus, two cards with 0% for 15 billing cycles. 650 is not cutting it for those cards even if he had 1% utilization.