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Classic Risk Score Review caused Adverse Action

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Re: Classic Risk Score Review caused Adverse Action

I could absolutely see that. They are seeing ongoing balances and interpretting it as increased risk.


I had the thought to balance transfer my personal card balance to a new card that my wife and I could open jointly, and I could pay down at 0% over 12-15 months. The business card, my thought is to just pay that off ASAP and when done, call in and ask for an interest rate reduction.


I do have assets I could offload to help, but some of these investments carry penalties if sold now. Simply put, my cash position is just not great right now. Most of it is just a squeeze business-wise, but also things such as car expenses popping up in the last year and so on. One car blew a head gasket and required a 4.5k repair. The other had work we put off for a long time that came to a head. 4k there too. So 8.5k all in the same month.


I work in creative services and lost a few clients this past year, and it's not been going well in replacing that income. Most of my clients are small businesses and have offloaded the expense of what I do as the web has made things self servicable. Many other factors as well. Some have sold to larger firms that have their own staff, others have folded, not being able to compete with the likes of Amazon, etc. It's a toss up. It was just the perfect storm in losing a good amount of clients back to back without notice within the same year. Usually you plan for the loss of one or two, but not how many I lost.


The positive is that these are my only two accounts. My DW earns a higher income and no CC debt we are paying interest on otherwise. Just 3k left on a 9.5k line that is 0% interest for an HVAC unit we replaced two years ago, but that is in her name. We own our cars outright. Our home is about 150k more valuable than when purchased, and things are ok with her income enough to keep us going. I simply need to get this debt clear asap. I believe over all my wife's available credit, it must be 100k she has available and the 3k is all that's there. That at least helps in applying for a balance transfer card, if I go that route. The only downside is she's then attached to that pile of debt, and I don't really want that. We do file jointly and share income, so I could technically use an income split to apply in my name for a balance transfer card. It is an honest approach but I'm not sure.

There are no bad marks in my report that I am aware of. They pulled TU. I couldn't tell you my latest actual score at the moment but that's on my list to check this week, along with pulling reports. I need to subscribe. My credit has been locked since last Fall.

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