Help, I need an approval!

[Anonymous]

I had a great credit score of 740, applied for the capital one venture and got approved with a 15K CL, it is my only card, applied in June 2015. I'm an authorised user on a $750 4 year old capital one quicksilver one. 

Due to high utilzation (moving expenses/college expenses) my score went way down, I have since brought my utilisation to 50%, my scores are now Eq 703, TU 676, Ex 690, with a hard inquiry from a new lease, new t-mobile account and citi denial  

I want to increase my credit line and bring my utilisation down to 30%, where should I apply? 

 Shoot me some ideas, I need my credit back up for grad school loans next year! 

[redpat]

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@Anonymous wrote:

I had a great credit score of 740, applied for the capital one venture and got approved with a 15K CL, it is my only card, applied in June 2015. I'm an authorised user on a $750 4 year old capital one quicksilver one. 

Due to high utilzation (moving expenses/college expenses) my score went way down, I have since brought my utilisation to 50%, my scores are now Eq 703, TU 676, Ex 690, with a hard inquiry from a new lease, new t-mobile account and citi denial  

I want to increase my credit line and bring my utilisation down to 30%, where should I apply? 

 Shoot me some ideas, I need my credit back up for grad school loans next year! 

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Any approval will be hard with that utilization.  What are your plans to pay down the debt between now and apping for grad school?

Best advice, pay as much as you can before grad school.

[9CLINE]

First ... Welcome to the forum.....

+1 redpat
hit em hard b4 next yr....

Good Luck 2 ya !!!!!!

[Anonymous]

I will probably just bring the balance down to 5K before my next statement closes, bringing my utisation down to 30% , I have a good income,1000/week net. I'm paying some tution right now, about 1k/month on my credit card and then paying it straight off.- but I live in NYC and my wife is in law school so I don't want to use too much of our savings right now to pay down my balance completley,  Will I get approvals at 30% utilisation, I'm sure my scores will go up again next month hopefully all past 700. Will I get approved for any chase cards? Slate or freedom? 

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[FinStar]

Chase might be a tough one (although not impossible) with that utilization.  Other than Capital One (and the AU account) + student loans, what other revolving credit or CCs do you have?  What is your AAoA?  Any negatives?  What is your DTI including student loans?  This can provide a better perspective (not a guarantee) of your chances.

[JBjunior]

Here is my thought on your savings and high utilization.  Savings are amazing and are a huge safety net.  Unfortunately, your high utilization is eating into your "savings" already.  I would pay off the CC balances.  You have nothing to lose and everything to gain.  If you pay them off and you don't "need" your savings, you have saved interest and boosted your scores and you don't OWE anyone anything.  If you end up "needing" your savings, charge it back on the cards and you are back where you started, nothing lost.

[CH-7-Mission-Accomplished]

Get your scores up to 700.  Then apply for another Cap 1 Venture.  You will likely get another 10K to 15K.  Then in the exact same session, apply for a Quicksilver or Venture One.  You will likely get another 5K.

This is the easiest way to get high limits for utilization if that's your goal.  I got 49K in credit from Cap 1 with a newish bankruptcy.  I closed one 10K card before I got it because I didn't want to spook other creditors, but Cap 1 is best.  You can later consolidate the two or three cards into one big card after six months of being open.

[Closingracer99]

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@CH-7-Mission-Accomplished wrote:

Get your scores up to 700.  Then apply for another Cap 1 Venture.  You will likely get another 10K to 15K.  Then in the exact same session, apply for a Quicksilver or Venture One.  You will likely get another 5K.

This is the easiest way to get high limits for utilization if that's your goal.  I got 49K in credit from Cap 1 with a newish bankruptcy.  I closed one 10K card before I got it because I didn't want to spook other creditors, but Cap 1 is best.  You can later consolidate the two or three cards into one big card after six months of being open.

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He has one already....

[CH-7-Mission-Accomplished]

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@Closingracer99 wrote:

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@CH-7-Mission-Accomplished wrote:

Get your scores up to 700.  Then apply for another Cap 1 Venture.  You will likely get another 10K to 15K.  Then in the exact same session, apply for a Quicksilver or Venture One.  You will likely get another 5K.

This is the easiest way to get high limits for utilization if that's your goal.  I got 49K in credit from Cap 1 with a newish bankruptcy.  I closed one 10K card before I got it because I didn't want to spook other creditors, but Cap 1 is best.  You can later consolidate the two or three cards into one big card after six months of being open.

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He has one already....

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I have opened 5 in the last year.  That's how I got 49K in credit from them.

If he wants high limits to pad utilization, Cap 1 is the easiest.  He won't get a crappy 3K limit from Citi or Discover.

[SouthJamaica]

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@Anonymous wrote:

I had a great credit score of 740, applied for the capital one venture and got approved with a 15K CL, it is my only card, applied in June 2015. I'm an authorised user on a $750 4 year old capital one quicksilver one. 

Due to high utilzation (moving expenses/college expenses) my score went way down, I have since brought my utilisation to 50%, my scores are now Eq 703, TU 676, Ex 690, with a hard inquiry from a new lease, new t-mobile account and citi denial  

I want to increase my credit line and bring my utilisation down to 30%, where should I apply? 

 Shoot me some ideas, I need my credit back up for grad school loans next year! 

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I guess a Barclay Rewards card or a Discover IT would be your best bet.