@Anonymous wrote:I think it's important to note here that the OP doesn't make any mention of needing higher credit scores right now through decreased utilization. Had they said they were looking to scoop up a mortgage next year or take on another loan it would make sense that they'd want utilization lower and their scores higher.
If they are looking simply for lower utilization and higher scores "just because" (which is fine) there is absolutely no reason to be thinking about adding additional "fluff" cards to help pad utilization. The end result is that the OP is going to need to pay down/off the revolving debt. Whether that's $20k over $30k in total credit lines or $20k over $70k in total credit lines, it's still $20k... and without the need to app any time soon the difference in credit scores really doesn't matter outside of higher scores simply being more mentally pleasing.
Grin I think the whole original post, or at least the thread title, was a statement to that fact 
.
FWIW, I don't agree with padding with SCT cards, I wholeheartedly support padding with AU's but that's me. You mention yourself about the 65% line, which may exist in some UW standards, and a higher credit score allows things like refinancing with an installment loan, or opening up a BT line, or a number of other scenarios which might be unobtainable from here. That's all I was getting at with suggesting AU's as a potential idea for gaining more breathing space credit wise. You are absolutely right it should be paid off from a financial responsibility perspective... but I've always thought one of our goals was to help people achieve that more quickly.
End of the day, why would we restrain ourselves to a little niche corner on any topic when it's possible to include ideas which may improve the situation? I'm not one to think that we need to push forum threads into tightly knit little balls of yarn when there's potentially a tasty saucer of milk just outside of it. Yeah that analogy doesn't work so well but I hope you get the picture, thinking cats for some reason 
More complete information is better information, and I do think that maxim applies here.
@tcbofade wrote:DW has mediocre credit scores. Mostly due to high utilization. (65% or so). I am in the process of making sure that no individual account reports over 89% as of 01 July. The only negative information on her credit reports should fall off in June. With nothing maxed out, no derogs, and no inquries in the last year (EX and EQ), one inquiry eight months ago on TU, what is her next step?
Do we try for CLIs on existing accounts, or apply for new accounts?
Seems to me that when requesting soft pull cli's, lenders tend to use dated credit reports, as opposed to pulling a fresh soft pull.
There are certainly lenders that will open new accounts for her in the mid 600s, but nothing better than what she has, so that seems wasteful and self defeating.
Short of winning the lottery, what's the best way (most likely to succeed = best way) to lower her utilization?
Ask for CLIs, or apply for new accounts?
Please and thank you.
Which cards does DW currently have? Bank, brand of card, credit limit and open balance. Expiration timing of any 0% (and whether that has catch up interest if a balance remains).
Part of the improvement in my scores over the last 2+ years was helped by gradually apping and expanding credit.
Once the derogs drop off, getting some legitimate cards with regular BT options ( BofA, Citi, Discover) can help in the Utilization, and longer term saving on interest as the balances are shuffled to lower APR locations.
Paying down is always best, but paying at low APR is next best.
@tcbofade wrote:Thanks all, for the constructive feedback.
We MAY have to replace our AC this summer, and I'm hoping to get her scores high enough to qualify for a zero percent deal.
The SCT might work for some useless utility fluffing... I'm going to chew on that...
We ARE paying the debt down, it just takes a while....
That would be a mistake, adding a bunch of low limit, useless store cards, along with the inquiries, new accounts, and lower average age of accounts it would bring. The opposite of what you should be doing.
@Anonymous wrote:I think it's important to note here that the OP doesn't make any mention of needing higher credit scores right now through decreased utilization. Had they said they were looking to scoop up a mortgage next year or take on another loan it would make sense that they'd want utilization lower and their scores higher.
OK, "need" is a relative term.
While not in my original post, I posted later that we're almost certainly going to have to finance an air conditioner this summer, and I want the best financing possible, hence the "need" for higher scores.
@AverageJoesCredit wrote:
Tcbo, how have you tried getting cli with her Sync cards? Luv button, chat ,or Credit Solutions?
Yes, tried luv button and chat in April... no go, and no suprise. I am deliberately NOT asking in May or June, hoping that a cli request in July will cause them to pull a new report instead of using an older one.
Revelate wrote:
End of the day, why would we restrain ourselves to a little niche corner on any topic when it's possible to include ideas which may improve the situation? I'm not one to think that we need to push forum threads into tightly knit little balls of yarn when there's potentially a tasty saucer of milk just outside of it. Yeah that analogy doesn't work so well but I hope you get the picture, thinking cats for some reason
More complete information is better information, and I do think that maxim applies here.
Couldn't agree more...
I think.
@SouthJamaica wrote:
@tcbofade wrote:Thanks all, for the constructive feedback.
We MAY have to replace our AC this summer, and I'm hoping to get her scores high enough to qualify for a zero percent deal.
The SCT might work for some useless utility fluffing... I'm going to chew on that...
We ARE paying the debt down, it just takes a while....
That would be a mistake, adding a bunch of low limit, useless store cards, along with the inquiries, new accounts, and lower average age of accounts it would bring. The opposite of what you should be doing.
I agree with that, too. A "bunch" is NOT what I'm after.
If Sportsmans Visa or something similiar would give here a decent starting credit limit with a soft pull/pre approval, it might be worth considering.
We certainly don't need 16 more of them....