Help Requested - 730 score denied for personal loans everywhere

[dfwxjer]

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@learn369 wrote:

(Experian Report):

Credit cards or credit linesTotal balance: $2,609

6% credit usage

Credit used: $1,902

Credit limit: $35,300

(1x $24,500 card as an authorized user, the rest is my primary)

I think the problem is with 3 cards specifically that are not reporting properly

1x $2700 TU card with 100% utilization (payed down to 25% July 7th, but isn't going to report again for another week despite disputes)

1x $2600 TU EQ EX card with 100% utilization (payed down to 25% July 7th, updated correctly to TU EQ EX, but somehow EQ re-updated to 100%??? Last reported july 23rd, last payment june 1st? it's the end of july now, and the minimum payment date is mid month)

Recap

A) $2700 card showing 100% on TU (even though it was paid down july 7th : with CK showing last payment june 30th)

B) $2600 card showing 100% on EQ (even though it's showing 27% on EX & TU, paid july 7th : with CK showing EQ's last payment june 1st)

C) $1000 card showing 32% utilization on EX (paid down to 27%, paid july 7th : with EX showing last payment date july 7th)

D) $650 card showing 100% ($652/650) on EX (balance updated july 2nd) even though it shows 25% on TU and EQ, paid july 7th)

E) $500 card showing 100% ($502/500 - not true) on EX (balance updated june 30th) - this card has been at 20% since july 7th)

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This is confusing to say the least. Where are you getting 6% utilization? None of your math adds up at all. 

Based on cards A through E in your recap you're running a 90% utilization with several over the limit. Your AU padding of $24,500 is meaningless here since you've mismanaged your primary cards. Even with the updated balances you reference in your post, you're still over 25% utilization. 

Like others have said, you must exercise patience and wait for the proper balances to report. In addition, this is the issue with low limit cards in a rebuild. Even after they've been paid down they will still report your highest balance, which in this case is over the credit limit. Do not use $500-1000 credit limit cards outside of a tank of gas or some other charge to keep the card active without crossing the 20% utilization threshold. 

[Harvey26]

@learn369 I have you attempted a local credit union? But it sounds like maybe you dont really need it if you have paid balances down.