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Maurices2000

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I have a high utilization. How can I get it lower and how long will it take

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We would have to have a lot of personal information to give you a true and accurate answer to this question, which I doubt you want to share such information on a public forum.  Your best option is to sit down and create a budget with the goal of getting your utilization rate down. The first and best way is what the previous poster mentioned, dump any excess money you have into your credit card debt. The amount of interest your paying negates any interest you might be earning in a savings account.  There is no point in a savings when you are paying about 20% interest on your credit cards. The more you can pay the faster the utilization rate drops, and then the second part of the previous posters comment will just happen. After a few months of good sized payments to my credit card companies, they ended up increasing my credit line which then dropped my utilization rate even further. I would aim for this route as opposed to opening a new line of credit (which the previous poster also recommended against). It is all about planning and sticking to that plan, it will all work out in the end. I was able to drop mine (with low 5 digits of cc debt) close to 30% now in under 6 months

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