@TRC_WA wrote:
@tcbofade wrote:
Our util is still a bit high, but we're both in the 700's with NO baddies anywhere, and few inquiries.... I figured it was worth a shot.... Apparently, I was wrong.
Define "a bit"... 50%? 70%? 90%?
No doubt the cause of your denials.
More than 60%, less than 70% for both of us. NO cards maxed out, several paid off for both of us. My util is in the higher 60's, hers is in the lower 60's....and I'm pretty certain that you are correct.
That problem will fix itself in the next 60-90 days, and we'll be closing most of these accounts anyway.
@tcbofade wrote:
@TRC_WA wrote:
@tcbofade wrote:
Our util is still a bit high, but we're both in the 700's with NO baddies anywhere, and few inquiries.... I figured it was worth a shot.... Apparently, I was wrong.
Define "a bit"... 50%? 70%? 90%?
No doubt the cause of your denials.
More than 60%, less than 70% for both of us. NO cards maxed out, several paid off for both of us. My util is in the higher 60's, hers is in the lower 60's....and I'm pretty certain that you are correct.
That problem will fix itself in the next 60-90 days, and we'll be closing most of these accounts anyway.
Closing the accounts may hurt your utilization. My advice is to pay down or off all the cards (leaving one card with a balance below 10%. Make sure this is done at least 2 months before you refi, because mortgage pulls were always one to two months behind when I was shopping.
After you get your refi, then close the accounts if you really don't need them. Keep at least 3-5 cards open and remember that closing them may also hurt AAoA. Although the good credit is supposed to report for 10 years after, I've noticed people stating that it isn't the case. Some people have even mention the good trade lines falling off within a year. Thus, take time-frame for them to continue to report for up to 10 years.
@tcbofade wrote:
@TRC_WA wrote:
@tcbofade wrote:
Our util is still a bit high, but we're both in the 700's with NO baddies anywhere, and few inquiries.... I figured it was worth a shot.... Apparently, I was wrong.
Define "a bit"... 50%? 70%? 90%?
No doubt the cause of your denials.
More than 60%, less than 70% for both of us. NO cards maxed out, several paid off for both of us. My util is in the higher 60's, hers is in the lower 60's....and I'm pretty certain that you are correct.
That problem will fix itself in the next 60-90 days, and we'll be closing most of these accounts anyway.
Continuing with the slow reveal...
60% of what? $1k? $20k? Which cards and limits? Open balances? age of each account?
Not that credit scoring / credit granting decisions are complex or anything, I'd never suggest that...
Pre-congrats on the mortgage though.
@NRB525 wrote:
@tcbofade wrote:
@TRC_WA wrote:
@tcbofade wrote:
Our util is still a bit high, but we're both in the 700's with NO baddies anywhere, and few inquiries.... I figured it was worth a shot.... Apparently, I was wrong.
Define "a bit"... 50%? 70%? 90%?
No doubt the cause of your denials.
More than 60%, less than 70% for both of us. NO cards maxed out, several paid off for both of us. My util is in the higher 60's, hers is in the lower 60's....and I'm pretty certain that you are correct.
That problem will fix itself in the next 60-90 days, and we'll be closing most of these accounts anyway.
Continuing with the slow reveal...
60% of what? $1k? $20k? Which cards and limits? Open balances? age of each account?
Not that credit scoring / credit granting decisions are complex or anything, I'd never suggest that...
Pre-congrats on the mortgage though.
TCBO has been posting about the house project for a while. It's an interesting project worth
following. Some of the background is here:
http://ficoforums.myfico.com/t5/Credit-Cards/Creepy-high-amount-of-credit-card-debt/td-p/3663063
+
850 FICO8 since 2015, Thanks MyFICO - 5+ years since last HP
@bada_bing wrote:
@NRB525 wrote:
@tcbofade wrote:
@TRC_WA wrote:
@tcbofade wrote:
Our util is still a bit high, but we're both in the 700's with NO baddies anywhere, and few inquiries.... I figured it was worth a shot.... Apparently, I was wrong.
Define "a bit"... 50%? 70%? 90%?
No doubt the cause of your denials.
More than 60%, less than 70% for both of us. NO cards maxed out, several paid off for both of us. My util is in the higher 60's, hers is in the lower 60's....and I'm pretty certain that you are correct.
That problem will fix itself in the next 60-90 days, and we'll be closing most of these accounts anyway.
Continuing with the slow reveal...
60% of what? $1k? $20k? Which cards and limits? Open balances? age of each account?
Not that credit scoring / credit granting decisions are complex or anything, I'd never suggest that...
Pre-congrats on the mortgage though.
TCBO has been posting about the house project for a while. It's an interesting project worth
following. Some of the background is here:
http://ficoforums.myfico.com/t5/Credit-Cards/Creepy-high-amount-of-credit-card-debt/td-p/3663063
Ok, $90k of overall CC debt, OP, why again are you looking for other cards? 
@NRB525 wrote:
@bada_bing wrote:
@NRB525 wrote:
@tcbofade wrote:
@TRC_WA wrote:
@tcbofade wrote:
Our util is still a bit high, but we're both in the 700's with NO baddies anywhere, and few inquiries.... I figured it was worth a shot.... Apparently, I was wrong.
Define "a bit"... 50%? 70%? 90%?
No doubt the cause of your denials.
More than 60%, less than 70% for both of us. NO cards maxed out, several paid off for both of us. My util is in the higher 60's, hers is in the lower 60's....and I'm pretty certain that you are correct.
That problem will fix itself in the next 60-90 days, and we'll be closing most of these accounts anyway.
Continuing with the slow reveal...
60% of what? $1k? $20k? Which cards and limits? Open balances? age of each account?
Not that credit scoring / credit granting decisions are complex or anything, I'd never suggest that...
Pre-congrats on the mortgage though.
TCBO has been posting about the house project for a while. It's an interesting project worth
following. Some of the background is here:
http://ficoforums.myfico.com/t5/Credit-Cards/Creepy-high-amount-of-credit-card-debt/td-p/3663063
Ok, $90k of overall CC debt, OP, why again are you looking for other cards?
I'm not really looking for other cards....just asked for some soft pull CLI's on the cards that we have.
@NRB525 wrote:
@tcbofade wrote:
@TRC_WA wrote:
@tcbofade wrote:
Our util is still a bit high, but we're both in the 700's with NO baddies anywhere, and few inquiries.... I figured it was worth a shot.... Apparently, I was wrong.
Define "a bit"... 50%? 70%? 90%?
No doubt the cause of your denials.
More than 60%, less than 70% for both of us. NO cards maxed out, several paid off for both of us. My util is in the higher 60's, hers is in the lower 60's....and I'm pretty certain that you are correct.
That problem will fix itself in the next 60-90 days, and we'll be closing most of these accounts anyway.
Continuing with the slow reveal...
60% of what? $1k? $20k? Which cards and limits? Open balances? age of each account?
Not that credit scoring / credit granting decisions are complex or anything, I'd never suggest that...
Pre-congrats on the mortgage though.
Sorry, not trying to be slow....
My util $46,648.82 balances of $67,925.00 total credit limits equal 68.67% Util.
Her util $48,665.63 of $80,450.00 total credit limits equal 60.49%
Some of those are joint tho. Actual total CC debt is $87k ish.
She already has a mortgage....she's just going to refinance it.