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How to improve high credit risk?


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I am considered as high credit risk but paying down a truckload of debts is impossible with the 13-15% interest rates. I had a few lates last year and accounts closed by credit grantors. Utilization 80% on 4 joint accounts or close to limits, not many new cc's extend credit for low rate transfer and some of the existing open & available creditors were p.o. with previous 30 days lates and raised the rates to 19-24%. So I can't use those cards for bt.

I am trying to reestablish "good history" been paying on time and early w/some extra $$s.

Which of these alternatives will help:

1. using those high rate cards for small purchases and pay off each month for 6 months, may be they will consider low interest rate offers.

2. Use 1 or 2 cc's that has % balance but high rates to pay all cc's monthly min. payments, then pay off each month after pay day?

3. Apply for more joint accounts? Or

4. Spread out the balances on multiple accounts for better utilization percentage?

5. Lay low and do nothing in 6 months when the balances are lower?

Also see post "High credit risk" in Credit Card Forum.

desparate with 54 grand balance....

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