Penfed cc application

[Anonymous]

I applied for a credit card through Penfed two months ago. At the time my equifax score was 740. I was denied due to high util on existing cards. Since then I have gotten my utl down to 20%. Before it was at 85%. I have no new inquires besides 1 in 6 months. My credit score is now 797. should i consider it safe to reapply for credit card.

[llecs]

Personally I'd wait at least a month just in case they try to use the same inquiry from before. I was denied at 18% util, but their concern was that the balances were disapportionate to my income.

[spiritcraft1]

A side note / question...  How did you maintain a 740 EQ with 85% UTL???

Earlier this year after a change from being employed to running our biz full time, I went from 745 (0% UTL) to 612 (65% UTL) I have now rebounded only to 676 after paying off 20K and being 20% UTL!!!   Nothing has changed...  I have more age, no new accts. since 11-08, no INQ's etc...    You seem to be golden...

[Anonymous]

Im not really sure how I got a 740 score with 85% utl. I have never had any lates, collections etc. Maybe that helped. However, what I have noticed is a great score really doesnt mean much anymore. Lenders are looking at your whole credit profile. Im not realyy sure how the score models work, but I dont think they really reflect your credit worthiness when figuring your score.