High UTL paying slowly. Would a secured card help my credit score increase?

[Anonymous]

Hi,

I have several cards with 70-85% UTL. I am slowly paying them down with the hopes that once I get closer to 50% I can get an increase.

I have 2 captial one, discover and credit one(this one I am thinking of closing). I'm sitting at 660 right now. I am not able to be approved for a personal loan due to my UTL(I was thinking a loan would help me pay things down at once).

I know I would not get an increase if I asked because my balances are high. I am trying to figure out if a secured card will help increase my score in the meantime? Any advice?

[Anonymous]

I secured card could help your score by lowering your utilization, but it would also negatively affect your AAoA, so it could really go either way. I'd work on paying off the debt first and then reassess later, but that's just my opinion. I would recommend not closing the Credit One account if you can keep it open and just cut it up or put it in a sock drawer for emergencies. Depending on when you opened it, it could negatively affect your AAoA, and would also reduce your utilization and amount of credit.