For years I had excellent credit with high credit card limits – used in my business and through a divorce about 50% utilization. Banking crisis hit and literally all my cc’s started one at a time to raise rates (some were 2.99) and lower limit to amount owed or closed the account all together. This killed my score and none will reevaluate and restore my lines saying utilization with others too high. They caused it? Any advise. I am self employeed so it makes it all worse finding solutions. Tried to refi home – and cash out to consolidate. Two problem – self – ee and I’m not in trouble with my payments??? Banks make no sense to me now?? Are there any banks that look at the person not the score?

[Monday, October 10th, 2011]

We are sorry about the situation you are in. You can keep negotiating it with your banks or start from scratches. Actually, nowadays your credit is a very important thing you should take care of. So, start with your credit.

We in turn are happy to invite you to shop around for the credit card offer best for you. Taking into account your credit not so good, you are welcome to look over the credit cards for limited/no credit issued by the leading U.S. banks and credit card companies. Choose only among the credit cards you may be eligible for. Compare the cards side by side, study their features and credit terms. Consider applying online for the credit card right for you. If you are approved, chances are your credit limit won’t be high and credit terms will be tough but this won’t be for good. Be a responsible cardholder and your good payment history will help your credit.

Please note that if you’ve applied for multiple credit cards recently, wait at least six months before applying for another credit card. Your new credit card applications and every new approval damage your score. Too many credit card applications too close together will show you are in desperate need for credit and this may be a reason for another denial.

See also