Hi givingup, I hope that you aren't giving up. You have nailed it. Get your utilization down as quickly as humanly possible. Overall and individual util under 10% for best results. Coupled with lowering uti, do not allow more than half of all open accounts (including mort, SL, installment of any type) to report a balance.
Let's say you have a mortgage and a car loan on top of the eight cards. You have 10 open accounts. No more than four should report a balance. Because your mortgage and car loan will report a balance, you should not allow more than two of the CCs to report a small (1-9%) balance. The others should PIF. This isn't to say that you can't use the cards, just strategize how you will use them and pay them to $0 balance BEFORE the statement cuts. One of the things that I am sure you are getting hit on is too many accounts with balances.
GL2U
Starting Score: 469
Current Score: 819
Goal Score: 850
Highest Scores: EQ 850 EX 849 TU 850
Take the myFICO Fitness Challenge
Let's say you have a mortgage and a car loan on top of the eight cards. You have 10 open accounts. No more than four should report a balance. Because your mortgage and car loan will report a balance, you should not allow more than two of the CCs to report a small (1-9%) balance. The others should PIF. This isn't to say that you can't use the cards, just strategize how you will use them and pay them to $0 balance BEFORE the statement cuts. One of the things that I am sure you are getting hit on is too many accounts with balances.
GL2U
Starting Score: 469Current Score: 819
Goal Score: 850
Highest Scores: EQ 850 EX 849 TU 850
Take the myFICO Fitness Challenge