When to try again?

[Anonymous]

@09Lexie - I have to check. The denial letter only listed TU. 

I have to check my current CS for the others. In May EX was 724 EQ was 736 and TU was 736.

So with TU dropping 51 points...I'm assuming the others are similar.

[09Lexie]

The high util is killing your scores. Get it below 30%, make sure your CR's are updated and try again after 30 days.

Good luck!

[Anonymous]

@Gatortrout - I'm hoping for something similar once my UTL is significantly lower. Glad to hear I'm not alone. That's exactly how I ended up here, researching ways to properly care for my credit profile!

[Anonymous]

@09Lexie - After paying down my balances and decreasing my UTL, how long do CR's take to reflect this info?

And THANK YOU!

[edited for appreciation ^^^  ]

[Gatortrout]

Your statements should close 3-5 days after your due dates, and my credit reports reflected the new balances about 2-4 days after the statements posted.

[enharu]

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@Anonymous wrote:

@09Lexie - After paying down my balances and decreasing my UTL, how long do CR's take to reflect this info?

And THANK YOU!

[edited for appreciation ^^^  ]

---

Usually Experian updates within 1 business day, Equifax takes about 1-3 business days, and Transunion generally takes around 3-5 business days.

It also depends on the lender's reporting policies. Some banks update the CRAs once the statement is generated, while some do it 1-2 days after statement is generated, and US Bank updates current (not statement) balance at the end of each month.

Your best bet is to use a service that allows several / unlimited pulls so you can monitor whether your balances are updated. Generally, if Transunion is updated, that means EQ and EX are already updated as well. 

Once your new balances are updated, you should be okay.

[Anonymous]

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@enharu wrote:

---

@Anonymous wrote:

@09Lexie - After paying down my balances and decreasing my UTL, how long do CR's take to reflect this info?

And THANK YOU!

[edited for appreciation ^^^  ]

---

Usually Experian updates within 1 business day, Equifax takes about 1-3 business days, and Transunion generally takes around 3-5 business days.

It also depends on the lender's reporting policies. Some banks update the CRAs once the statement is generated, while some do it 1-2 days after statement is generated, and US Bank updates current (not statement) balance at the end of each month.

Your best bet is to use a service that allows several / unlimited pulls so you can monitor whether your balances are updated. Generally, if Transunion is updated, that means EQ and EX are already updated as well. 

Once your new balances are updated, you should be okay.

---

What service is best for this?

[enharu]

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@Anonymous wrote:

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@enharu wrote:

---

@Anonymous wrote:

@09Lexie - After paying down my balances and decreasing my UTL, how long do CR's take to reflect this info?

And THANK YOU!

[edited for appreciation ^^^  ]

---

Usually Experian updates within 1 business day, Equifax takes about 1-3 business days, and Transunion generally takes around 3-5 business days.

It also depends on the lender's reporting policies. Some banks update the CRAs once the statement is generated, while some do it 1-2 days after statement is generated, and US Bank updates current (not statement) balance at the end of each month.

Your best bet is to use a service that allows several / unlimited pulls so you can monitor whether your balances are updated. Generally, if Transunion is updated, that means EQ and EX are already updated as well. 

Once your new balances are updated, you should be okay.

---

What service is best for this?

---

There's a list of services that you can read about here: http://ficoforums.myfico.com/t5/General-Credit-Topics/Credit-Monitoring-Service-CMS-Guide/td-p/662549

Creditkarma.com is free, and it offers 1 update every 7 days, so in a way that can be of some use as well. Other than that, most other services that offer multiple / unlimited pulls do charge. 

[mountainmom]

I was just approved last week with a 718 FICO and 34% utilization (just bought a new installed fence from Lowes) I had been in the single digits before that reported. It was definitely reported PRIOR to my application with Amex.

[takeshi74]

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@Anonymous wrote:

After that, I decided to jump the gun and applied for the American Express Blue Cash Everyday card and was denied.

Reasoning was:

Credit card balance too high in relation to credit limit
Number of accounts had high utilizations
TU Fico 685
 
I really want to add the American Express Blue Cash card to my collection. At what point should I try again?

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While plenty of others have already provided the answer, your own post clearly indicates what the answer is in the bit I quoted above: when you get your utilization down.

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@Anonymous wrote:

Utl: 86% (I know it's high, I'm working on it)

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You even indicate that you know it's high.  30% is commonly recommended as a maximum.  For optimum scoring you typically want about 10% with a balance on one card.