Keeping balance over 50% of credit limit is hurting my score

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xscribe
 
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Keeping balance over 50% of credit limit is hurting my score

Postby xscribe » Mon Nov 05, 2012 2:30 pm

My banker pointed out that one thing that depressing my credit score is that I routinely
carry a balance on my cards over 50%. I'd like to get my limits raised.

Any advice? My credit score hovers somewhere between 695 and 715.

Thanks,

-p


jlam572
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Postby jlam572 » Wed Nov 07, 2012 11:12 pm

Obviously what makes sense to you is to just have them raise your limits right? No they wont do that....you have to pay them down. If they raise your limits, they will just think you will go up to 50% of that and owe even more.
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Jslimm1985
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Postby Jslimm1985 » Fri Nov 09, 2012 9:00 am

Agreed. Pay down your balances first. I'd even go as far to say, keep your balances down for a few months to show that you're not trigger happy then go for the CLI.
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namvet
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Postby namvet » Sat Nov 10, 2012 9:05 am

Try to keep utility to 30% or less. 0% is preferred but not realistic for most people. Time and patience will get you many future CLIs.



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