What to do

[Anonymous]

I just did an excel spreadsheet and for all 3 of my CC's. As you can see below, I have a combined util of 195%.

             CL     Balance    Utilitzation

Cu Visa 4500   3832.55       85.17%

Citicard 5000   2944           58.88%

Juniper  2700  1390.66       51.51%

Totals 12200    8167.21     195.55%

End of May, I will have all of these paid off (or paid down to 1-9% according to advice here). My question is for the time being, would it help my score if I called these creditors up to see if I can get a higher CL so my ulitization would go down?

Thanks for any advice given!

[unknown_entity]

Might as well, as long as they don't do hard pulls, you have nothing to lose.

[Anonymous]

Thought the request for CL increases are always done with hard pulls?

[Anonymous]

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trashyart2000 wrote:

Thought the request for CL increases are always done with hard pulls?

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It varies by creditor.

Juniper will not do customer-initiated CLIs at all, and Citi might be a hard/might be a soft.  No idea about your CU.

[Anonymous]

I would ask for APR reductions now-

Ask for CLI's when the balances are down-

IF you were apping for a loan- I would give different advise,

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trashyart2000 wrote:

I just did an excel spreadsheet and for all 3 of my CC's. As you can see below, I have a combined util of 195%.

             CL     Balance    Utilitzation

Cu Visa 4500   3832.55       85.17%

Citicard 5000   2944           58.88%

Juniper  2700  1390.66       51.51%

Totals 12200    8167.21     195.55%

End of May, I will have all of these paid off (or paid down to 1-9% according to advice here). My question is for the time being, would it help my score if I called these creditors up to see if I can get a higher CL so my ulitization would go down?

Thanks for any advice given!

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[Anonymous]

Umm math's wrong, should be 66.94%

[Anonymous]

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trashyart2000 wrote:

I just did an excel spreadsheet and for all 3 of my CC's. As you can see below, I have a combined util of 195%.

             CL     Balance    Utilitzation

Cu Visa 4500   3832.55       85.17%

Citicard 5000   2944           58.88%

Juniper  2700  1390.66       51.51%

Totals 12200    8167.21     195.55%

End of May, I will have all of these paid off (or paid down to 1-9% according to advice here). My question is for the time being, would it help my score if I called these creditors up to see if I can get a higher CL so my ulitization would go down?

Thanks for any advice given!

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Your combined util is 70%, not 195% (8167.21/12200 = .669). Still not good, but better than 195%!

[Anonymous]

Tim- actually, all of my APR's are at their promo rate until 2009. They are either zero or 2.9%. So the APR isn't an issue. From this info, what do you advise?  I will be getting a loan in July- new home. I have been approved but they will rerun my credit closer to our lock in date.

[Anonymous]

hmm ok then the spreadsheet formula is not correct. Yes! 70 beats 195% any day.

[Anonymous]

Guess my util total DID go down! Wow that was quick!