Must add a card or two for better UTIL, need advice.

[BM3]

So the situation is I got into some CC debt (20% util overall) to get a new apt, and this apt should start bringing in income but that will take a month or two.  Bad news is I am probably up to 45% overall after last CC spend. Meaning it will be tougher to get new cards, so while report shows 20% for now I want to get new cards now and help the util. Need advice on what to apply for. Reqs - no foreign transaction fee OR good starting limit. I have 0% APR for another year so rate's not important for now - but obviously if I could get something like RIng I'd be happy (i doubt i could?)

scores:

723 ex        675 eq (1 baddy)         710 TU

4 yr9mo/14yr                 4yr 9mo/14yr               3 mo/6mo   AAOA   (oldest)

  2                   2                                   1  INQ

4 cards last 6 months. Disc, cap 1 (can get another one starting today actually, pre approval site showed QS 1 with fee only which i dont like), 2 boa cards 4k and 6k.

so room to play. What would you go after, focusing on EXP and TU scores?

[Anonymous]

How would you feel about a Lowe’s card. Since it looks like your into real estate. It gives you 5% off purchases or special 0% financing is available. It’s synchrony bank so it usually posts to your credit report in a few days or less. It grows relatively quickly. With 710 you could probably get a good SL. Many here have been approved for 10k-25k with scores similar to yours after a quick recon. If you don’t shop there too often they have a great gift card center with many cards for lots of other businesses. It’s an easy way to show some spend from time to time as well.

[Trudy]

If I'm understanding you're working on lowering utilization?  if so, have you simply thought about CLI for exisiting cards.  Any that may be close to the known thresholds, an increase can bring it down to a threshold and may help your scores.

[HeavenOhio]

Maybe the AMEX Blue Cash Everyday card. They're not overly sensitive to new accounts, and 20% utilization is likely OK with them. They may also come in with a nice limit. They do have a foreign transaction fee, though. But since the card isn't accepted frequently outside of the US, that probably isn't a big deal.

[Kforce]

Your "Utility" is not that high, and if you are really going to be paying it down, I would suggest NOT getting any new cards now.  You have a lot of new cards and inquiries over the last 6 months. Letting time, good payments and lowering your debt will raise your scores. This will let you get better cards and limits in 6 months than getting cards now. If you don't need a higher score now I would wait.

[NRB525]

OP you are already on low APR rates, you have a number of new cards, so really no reason to app, therefore no reason to worry about score.

Enjoy the current low rates, do not app, and just pay down your utilization.

You can list your existing cards and there may be SP CLI available, but really paying down what you have is best thing to do right now.

[HeavenOhio]

I tend to agree with the points made in the previous two posts. You can likely app and be approved for a card right now, but it might not be the best fit for your longer-term needs. As I mentioned, AMEX is one that might approve, but it doesn't meet your requirement for no FTF. Waiting for your current cards to age and for your temporary high balance to be paid down should position you for cards that meet your needs over the long term.

The other thing that comes to mind is that a new card will likely come with a sign-up bonus that you'll want to meet. Attempting to meet bonus requirements when your spending is high on another card may not be the best decision financially.

[AverageJoesCredit]

Good advice but I'll add, why not try cli attempt on your Boa cards? They are mainly giving out sp increases this past week and that could give your Util a boost if you are approved.

[Anonymous]

So to not give into spending temptation. I got a Care Credit card and don't really use it but the credit line is there. I've gone from 7,500 to 12,000 in 2 months. Helped with my overall utilization. It's more of a strategy card than a use card. Check it out.

[601flyguy]

I wouldnt get new cards just to lower utilization. Any gain you see from lowering util will be lost due to the new accounts... Probably best to request cli on boa and dscvr. Dscvr will off cycle update to CRA upon request. I did this the other day.