as stated in the title. Im young and just getting started with my credit. oldest account is 14 months old, cap one platinum (99% sure its bucketed). my DTI is 9.2%, total CL is $800. i have no delinquencies, utilization is kept around 6%. i have a 730 credit score with all the major bureaus and yet it feels like im still in the “bad” credit category. ($42k/year income. not amazing, but bills are only like $800/month so its more than it seems)
other than aging my credit, is there anything i can realistically do or am i just playing the waiting game?
CLI and applications for cards with a higher limit rejected due to “not enough experience with higher credit limits”
byu/Finding_Ember inCreditCards
Posted by Finding_Ember
1 Comment
Low utilization is counter-productive for a CLI – especially with Capital One which is known to like to see high statement balances. Why would a bank increase your limit if you aren’t using the limit you already have?
You should not go out of your way to spend money you wouldn’t have, but if you’re playing pre-payment games to keep your utilization low you should stop doing that as it’s hurting you.