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Difference in utilization

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Anonymous
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Difference in utilization

Hey guys, I'm trying to apply for a Discover It card by the end of the month, and I have a question. Is there a big difference between applying with a current utilization of 30% and applying with an utilization of 1-5%? Any difference rate wise, CL wise, whatever. Current Barclaycard TU score is 687 (only one I have, long story) and 8 inquiries in the last 12 months (3 auto loans in a 2 day span).

 

PS: Is there a difference between applying with an invitation code and regular application? I got a couple of 10.99% rate invites and I was wondering if it's worth it to use them before the deadline or don't care.

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Anonymous
Not applicable

Re: Difference in utilization

Bump

Anyone?
Message 2 of 4
Anonymous
Not applicable

Re: Difference in utilization


@Anonymous wrote:

Hey guys, I'm trying to apply for a Discover It card by the end of the month, and I have a question. Is there a big difference between applying with a current utilization of 30% and applying with an utilization of 1-5%? Any difference rate wise, CL wise, whatever. Current Barclaycard TU score is 687 (only one I have, long story) and 8 inquiries in the last 12 months (3 auto loans in a 2 day span).

 

PS: Is there a difference between applying with an invitation code and regular application? I got a couple of 10.99% rate invites and I was wondering if it's worth it to use them before the deadline or don't care.


When you say "only one I have" do you mean score or credit card? It's always better to apply with the lower utilization. Better chance of approval, better cl etc. It's easier to get credit when it looks like you don't need it as opposed to looking like you're using up what you have and needing more. If you have a bona fide. 10.99% offer I'd definitely use it before it expires but I'd try to get the utilization down first if you have time to lower it and have it report, especially if that's your only card.

Message 3 of 4
signaturecardmember
Frequent Contributor

Re: Difference in utilization

Yeah, if you can hold out on the offer codes or want to see if another comes around to apply for an IT card it would be much better with the utilization lower and reporting. It would help if your cards and limits, any baddies, age of accounts etc were in your signature for everyone to see. You are on the right track though Smiley Happy hope this helps!

Started: 4/14 Bank of America Signature $6k, 85% Utilization, 745 Fako
Currently: 6/18 Bank of America Signature $99.9k, Chase Slate $0, Chase Freedom Signature $2.5k, American Express Gold NSL, American Express Everyday $6k, Lowes GE $0 (From $35k), Discover IT $38.5k, Capital One Quicksilver $5k, Barclays US Airways $24k, DCU Platinum $30k, PenFed Promise $47k, Chase Freedom Unlimited Signature (From CSP) $50k, Chase AARP Signature $7.5k, American Express Blue Cash $7.5k, Citi American Airlines Platinum $10.5k, Capital One Venture Signature $30k, Chase Sapphire Preferred (From Reserve) $12k, Chase Ink Business Preferred $10k, Barclays Aviator Business $14k. Total Available Credit: Over $350k, Utilization 4%, AAoA 7 Years, TU Fico 799, EX Fico 727
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