My Utilization is at 59% right now
What's a good way to lower that down?
Obviously the best way would be to pay off your balance each month. But would also asking for a credit line increase, would that help bring it down as well?
Here's how my utilization is broken down: CC Limit / Balance Owed
**CC Company has not updated their records this month yet
GM Card: $7,700 / **$7,416 (made an $85 payment not yet reflected)
Best Buy: $1,600 / **$1,079 (Paid this balance in full in Feb. not yet reflected)
Discount Tires: $1,000 / $0
Rodgers & Hollands: $3,250 / $0
Express: $900 / $0
My debt is $8,495 and my limits added up are $14,450. Making my Utilization 59%
Now if you update the financial info for the cards with the asterik it would look like this.
**My debt is $7,331 and my limits added up are $14,450. Making my Utilization 51%**
So what would be a good way to lower my utilizatiion?