@Anonymous wrote:
Thanks for taking the time to respond! I don't have the upgraded Experian that shows all 3. I will look into paying for that in the future. Experian shows score as 659 with a total of 3 inquiries and utilization of 89% 😳 Dh lol! I love that man but he is so financially irresponsible, I finally had to tell him to hand the cards back. I have 2 capital one cards, a quicksilver rewards (no annual fee that was just upgraded from the journey card with a 500 limit) and a platinum with a 1000 limit, both should be eligible for increases around June and July but I'm planning on having them paid back down by then. Payday comes bi-weekly and I always pay on both cards whether or not they are due yet.
Hi and welcome!
I would not apply till those cards are significantly paid down. Even if you got approved and your aggregate utilization went down, you would still have two maxed out cards, so from scoring point of view, there is still scoring "penalty" assessed because of that.
Utilization has no memory, so as soon as you pay them down below certain thresholds, you will see points come back.
Also, if you have cards from other lenders , you'd want those balances to go down, because adverse action is always a possibility if cards stay maxed out for extended period of time.
When your points come back, you will have more choices if you're looking for a card vs. just applying for one because you have pre-approval.
Applying with maxed out cards is really not a good idea. I'd wait.
