Need to go on app spree to lower utilization... HELP!

[Anonymous]

My fiance and I are still young in the credit world and are wanting to start acquiring more cards to help with lowering utilization along with us paying down on our balances. We currently have 2 NFCU cards that are 7k/3k CL utilization is high, and both cards are around 9 months old. We also have a 400$ cap 1 card that is 3 years old. Lastly we have a Khols card with 300$ CL. My fiance is still an AU on her mothers AMEX with no balance and 12k limit. Scores are in th 610-630 range. We dont really know what the nest best step is. Should we apply for personal loans, CC's? What cards do we go after, what companies would be best to start our spree? Any help would be really helpful!!

Thanks from young couple trying to win with credit 

[Anonymous]

With those scores and high uti, I doubt you will get anywhere. If you do, they will be toy limits and will not at all help your profile. You need to pay down your balances, which in return will raise your scores. Then the odds of getting higher credit lines will increase.

[Anonymous]

Pay down until they apply. It's the only way you can get good limits.

[thomasjm99]

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@Anonymous wrote:
Pay down until they apply. It's the only way you can get good limits.

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Have to agree with this option...  If you get your UTI lower then your CL and APR will be better when you do apply.

I'd also have to say that getting more cards strictly to lower your UTI is not the best idea. Try for some CLIs on the cards you do have first and work on paying those balances down.

[mssher]

I agree with everyone else.  Unfortunately, to have cards which help with UT, you have to obtain them when your UT is low.  Once your UT is high, it's tough to get approved for cards that have CL's which will help the already high UT.   Try for CLI's on all 4 cards and see what happens.  Good luck!

[woodyman100]

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@Anonymous wrote:

With those scores and high uti, I doubt you will get anywhere. If you do, they will be toy limits and will not at all help your profile. You need to pay down your balances, which in return will raise your scores. Then the odds of getting higher credit lines will increase.

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Agree 1000% your trying to get around the elephant in the room. Get a fork and start eating elephant. Once he's a lot smaller, then you can think about successful sprees

[Countingpennies]

Not only do you need to get your overall util. down, but if you have just one card nearly maxed, that can hurt you as well. 

Is there anything else that is keeping your scores so low?

[taxi818]

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@mssher wrote:

I agree with everyone else.  Unfortunately, to have cards which help with UT, you have to obtain them when your UT is low.  Once your UT is high, it's tough to get approved for cards that have CL's which will help the already high UT.   Try for CLI's on all 4 cards and see what happens.  Good luck!

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Agreed. pretty simple plan. when it comes to credit. always keep in mind. When you need it . you can't get it.

When you don't need it. they will give it to you in droves. So low util means. lots of cards and lots of high limits.

High util. means decline city.although app sprees help with util. it only helps when your util already low as others stated. good luck. best thing. stop using said cards. and pay down. once you have it low enough. then go on app spree.

[Anonymous]

Can you take out a personal loan from a relative. The problem in applying is as others have said is your scores and high util. An installment loan might be possible but the % rate would likely be close to what your CC rate is. Check on Lendingtree to see what you qualify for. 

Or see if some relative will LOAN you a few thousand that you agree to pay back in an actual contract. 

[taxi818]

610/640. Lending tree won't touch that. No need to rush. Just plan a pay down. And lower usage. Relative would work however.