Open to suggestions...

[Anonymous]

After finding this forum and lurking for a few days, I just closed my Cap One Secured after about 1.5 years. It was my lowest limit at $500. I now have:

Chase Freedom at $11k (Started @ $8k 10/14  got a $3K auto CLI 1/15)

Lexus Pursuits @$9k ( Started @8K 8/14 got a $1K CLI via the new Luv button 10/15)

AMEX EDC @6K   (Started at $2k 11/14 got a 4K cli by asking a rep 4/15).

I'm currently carrying a 50% balance on my year old Chase and Amex cards and paying about 3-4x the minimum each month but I'd like to ask for CLI to balance out my util. No balance on my Lexus. No LP on anything. My questions are:

1. Should I wait until the Cap One closes on my reports to apply for any new products or CLI?

2. Comenity just took over Lexus Pursuits, should I keep them (I've been reading bad things)?

3. I'm new to this level of building, any product suggestions or things I could do differently?

4. Does my AU utilization count when looking at my file or do lenders look at individual cards?

When I started in March of '14 my Fico was 447. I'm now at 667 (via Amex). My Girlfriend at the time (now my Wife) added me as an AU on most of her cards that she's been nursing the old fashioned way for years (oldest TL 11yrs). I wouldn't be where I am today w/o her. It seems I could have higer limits and scores had I found this forum sooner. My goal here is to kick my scores and limits into overdrive and I'm open to suggestions. 

Current CK Fako TU 725 EQ 720  *Edit Over all util is about 14% of $113K (AU TLs inluded of course). I also have a Navy FCU account.

Thanks for reading

[Anonymous]

You should concentrate on paying off your balance before you look for another card.

[Anonymous]

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@Anonymous wrote:
You should concentrate on paying off your balance before you look for another card.

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+1

I would take a stab at the balances that you have. Get them to at least 30% overall and then maybe look for an additional credit card. Right now lenders (if they approve you) will probably give you higher APRs & lower limits due to your high utilization.

[Anonymous]

Thanks for the feedback. What about asking for a CLI on the cards I have to help with utilization.. is that recommended?

[Anonymous]

Your amex is up for cli, but that just masked the problem. We don't wanna see you go down the rabbit hole, hence the recommendation to reduce your balance.

Next card you get, look for low APR instead of rewards.

[Anonymous]

well the OP seems interested in utilization % so i say try for CLI especially if it's soft pull because it doesn't affect your AAoA.

also i would wait for the cap1 to show closed. i feel like that does make a difference.

but yes do pay down your stuff and you'll see an increase in score just by paying each of those to around 30%. financial health is more important than credit score.

[Anonymous]

Thank you. 

[Anonymous]

welcome