700-720 personal scores but high util

[teamgreen]

Like the subject title , I have 700-720 personal scores right now with no lates at all, but, about 80% utilization atm. Is there any chance I could get approved for any cards now? The llc is from 2009 and making pretty decent money.

[Kat58]

If you are carrying ~80% utilization on the personal side, then no. You need to pay down your balances first. Preferably below 50% on individual CCs.

[teamgreen]

thanks, didn't want to ding the report if its pointless

[GerriDetweiler]

It may not be hopeless but a little more information would help.

 

You mention you have 80% utilization - is that on personal credit cards? What kind of credit limits and balances do you have?

 

Your credit scores are pretty good but there are some issuers that will look at that utilization and your balances.

 

What is your goal? Are you trying to get a business credit card to build business credit, or finance some upcoming inventory purchases for example?

[teamgreen]

Yes , thats on personal credit. I have a 15k limit card and a 20k one, but most of the credit on them is being used atm. Im trying to get in position to finance some equipment at some decent rates and also have some lines in waiting that i can use to transfer these balances when the 0% runs out. Getting the equipment requires a decent amount of cash up front , bc , i need down payments and some money to spec them out...then, the insurance down payments.

 

I also would like to have some lines of credit in case of emergencies.

[tobettercredit]

Yes , thats on personal credit. I have a 15k limit card and a 20k one, but most of the credit on them is being used atm. Im trying to get in position to finance some equipment at some decent rates and also have some lines in waiting that i can use to transfer these balances when the 0% runs out. Getting the equipment requires a decent amount of cash up front , bc , i need down payments and some money to spec them out...then, the insurance down payments.

 

I also would like to have some lines of credit in case of emergencies.

Work on acquiring hidden trade lines ASAP AKA business credit cards from BOA, AMEX, CHASE, US BANK, and CITI. But you must bring that UTI below 50% first. Then maybe also look for some decent BT offers or an installment loan to consolidate your debt.