Need help lower Util% score increase

[Anonymous]

Hey guys I need your help once again, I would like your advise on how to lower my util % rate, have less cards with balances, and hopefully a FICO score increase. I currently have 13: CC accounts open, 8 unfortunately carrying balances. Here they are: FIA MC 20 KCL 0 Bal- Chase Visa 20K CL 4640.00 Bal-  BOA Visa 10,500 CL 0 Bal- Discover 10K CL 2K Bal-  Home Depot 10K CL 0 Bal Lowes 10K CL 95.00 Bal- SCA 10K CL 0 Bal- Best Buy 10K CL 0 Bal- Best Buy Reward MC 10K CL 800.00 Bal- Merrill Lynch Visa 8500K CL 1440 Bal- GM MC 8K CL 1000 Bal-  Sears Gold MC 7200K CL 95.00 Bal- Macy"s Visa 4K CL Bal 0. Anyone that has any suggestions with this one would most definitley be appreciated. As of now my FICO scores all 3 are in the high 700"S EQ 791 EX 758 TU 778. Thanks to everyone in advance.

[Anonymous]

Besides paying them???

[Anonymous]

dear credit08

 I really don't see a problem, you have the scores and CL's I can only dream of. They say anything over 760 is just for vanity. I don't think I can offer you anything you don't already know. Just wanted to say great scores.

[fishbjc]

Get your util down by a.  paying it down or b. getting credit line increases.

[Anonymous]

credit08,

You have no need to fiddle around because your scores are good enough for any loan or card you would apply for but just for informational sake you could do the most damage with the least amount of money by paying down the cards with the lowest balances....

The 2 sub-100 dollar balances and the 800, and 1000 if you could afford it. That would be 2500ish dollars and it would reduce the % of cards reporting and lower your util a decent chunk.

That said - be financially smart.....pay down the card with the highest interest rate first and work your way down the ladder.

[Anonymous]

If I remember correct some people have said even single card util with high% can effect FICO score... and overall util... so i'm guessing if you need to pull down some of those cards then try balance transfer partial amount to cards with low balance and try to keep some of the 0 balance cards at 0... and i'm already sure you know... pay down some of the cards...

try also attacking the card with highest util % first... like your chase??

you do have score that i would only have in my wildest dream...

hope to see those sore in couple years...

Message Edited by antsmith101 on 06-16-2008 04:38 PM

[haulingthescoreup]

I don't think that you're going to be able to find many more high-limit cards at this point. Maybe try for more CL's, I suppose, but really, it's time to start paying these down.

You can either target the high-interest cards first, or the smaller balance cards to get the satisfaction of PIF'ing some cards. Definitely time to start paying down though. If you're having trouble making yourself do this, you might be headed for some scary times with the high limits that you have. Sorry, hope that doesn't sound too preachy; I just have some alarm bells starting to ding-ding-ding.