@s_haliz wrote:
Very interesting discussion so far....Great view points.....
Here's my question to group members:
1. You have $150K credit limit (from say 6 different cards) and you are having a balance of just $750;
2. You have a total credit limit from just one card being $2,500 and you are carrying a balance of say $500.
Let's assume everything else going to be same....Who will be look more favorable in eyes of CC lender when applying new credit card?
That would depend on your income and what you mean by "carrying a balance". 
@taxi818 wrote:
@s_haliz wrote:Very interesting discussion so far....Great view points.....
Here's my question to group members:
1. You have $150K credit limit (from say 6 different cards) and you are having a balance of just $750;
2. You have a total credit limit from just one card being $2,500 and you are carrying a balance of say $500.
Let's assume everything else going to be same....Who will be look more favorable in eyes of CC lender when applying new credit card?its not about money amounts on your score. its all about percentages. to answer your question of course the guy with just 750 because he is using less than 1percent of his credit.
The person using 500 is using 20 percent. ez choice there. its not about money amounts. its about percentage of total avalible. since that is 30 percent of your entire credit score. thats why so important. creditor. looks for responsiblity. but honestly i would not know why someone with 150k in limits would need to app again at that point. even me. ihave about 50 k in limits i dont even want to look at another credit card. but i may need car loan in future so that is where it would come in play.
That is true for FICO, it is not necessarily the case for underwriting: in fact, it's unlikely to be as my-own-fico correctly points out, income / ability to repay factors heavily when it comes to any loan or extension of credit.
@creditlady43 wrote:Honestly, I'm not sure CK is right about this because for instance, my husband only has a total of 4 credit cards and his credit scores are right around 800, whereas, I have established several new accounts on my own (since April 2014)...including a new car loan in excess of $45,000 and my income is over $110,000+. However, my credit has been messed up for several years due to a horrible divorce. I just started rebuilding in April and I'm trying to stay hopeful that my credit scores will start to climb once I get it in my head to stop applying for cards that I am not going to get approved on just yet. I'm heading for the garden immediately. September 2015 will be a year that I have totally re-established my credit...do any of you think that it is possible that I can hit the 700 club? If so, what can I do to help me get there?
In your case, it's mostly just sitting on your hands and waiting for your scores to rise while not missing any payments as it sounds like you have plenty of new tradelines to establish positive history with.
Beyond that, if you can get any of your derogatories removed, absolutely do that. Check over in the rebuilding forum on how to address them, otherwise at least in my case it was a ~1.5 year walk from when I restablished history to a 700 on FICO 8 and I still haven't made it yet on a mortgage score... that's probably another year unfortunately.
Also clean up your balances if you haven't yet, that'll be a much quicker increase in score.
Good morning Revelate and thanks for getting back to me so soon! I think that you are on point 100%, I just need to stop getting tempted to ask for credit increases and stop applying for cards because right now everything that I am applying for I'm getting declined on.
I'm definitely going to take your advice and sit on my hands for a long time and continue to pay all of my credit cards on time. I'm also paying more than just the minimum, in most cases I pay my cards in full, however, I have a Navy Federal Signature Visa with a $10,000 CL and a Bluegreen Encore Rewards Mastercard for $10,000 (I'm an AU on this one) and the Navy card is almost completely maxxed out and the Bluegreen is sitting right around a $6,000 balance and not to mention some of my other cards have high balances and the CL's are very low.
I think overall outside of the inquiries, the high utilization is killing my scores every month. I'm wondering what will happen when I start to pay all of the cards either completely down or at least get the utilization below 10% all the way across the board.
By the way, I forgot to mention that I hired Lexington Law again and this time they have been totally awesome! So far, they have removed about 50% baddies, so I figure I will give them until this time next year to continue working on my behalf and I will be in fantastic shape by then. I had used them years ago and did not have a good experience with them, however, this time, I must say that have completely changed and are working diligently on getting items removed from all of my reports. I know some people don't don't like Lexington, but it's working for me so I'm happy with them.
What do you think and again thanks for your help!