Pulled the trigger too early :(

[stealthc63]

So I finally got my UTL down to about 25% and the last statement cut 2 days ago so I got excited and app'd for the Ritz Carlton card and was declined. I called the recon number and the analyst said my reason for decline was my utl% was too high. I guess I should have waited a couple weeks for the new balances to report. Shoot. Now that I wasted an inquiry I'm wondering if it's worth re-applying when the balances do report??? My goal is to get this card and the Captial One Venture. Any advice on how I should go about doing this, and how long do I have to wait to re-apply??? This has been quite a long journey for me as I've been sitting at about 90% utl for a while and gardening for abvious reasons. So naturally I was excited and got ahead of myself. My scores are in the high 6's right now with utl at about 56% with the balances that have not updated. I am thinking my scores will go into the 7's for sure once my reports reflect the 25% utl. Any insight would be greatly appreciated. 

[DeeBee78]

Recon again. Tell them you can provide any information they need to show the balances are lower than reported. 

But yes, you should have waited for the bureaus to update the utilization. Otherwise, it's pointless. 

[CreditCuriosity]

Should have waited... Once you balances and utilization go down you can recon, but it will cost you another HP if you don't want to wait 30 days.  Chase doesn't dig 55-60% utilz.

[dodgerslv]

---

@CreditCuriousity wrote:

Should have waited... Once you balances and utilization go down you can recon, but it will cost you another HP if you don't want to wait 30 days.  Chase doesn't dig 55-60% utilz.

---

I agree, you are better off waiting the 30 days for utilization to update and you will be in better shape, heck, you may even get an instant appoval.