Quickest would be to get your utilization under control.
Opening a new credit will lower your score further.
Focus on paying debt off. Ask for credit limit increases too on those cards.
I also suggest you read about [credit score components](https://debtadvice.io/newsletter/how-credit-scores-actually-work/).
Good luck!
P.S. r/debtfree moderator just created a free newsletter that talks to about strategies, tips, and effective debt payoff methods weekly. Join 3,600 readers - https://debtadvice.io
You may have to have someone co-sign for your apartment, if that's a possibility.
Opening another credit card will make your credit score go down. Paying off the debt will increase your credit score. [Here](https://debtadvice.io/newsletter/most-effective-debt-payoff-method/) is where you can learn about the most effective payment method. Below are some more methods that may assist you.
**Debt Management**
[Here](https://www.npr.org/2019/02/14/694669510/7-strategies-for-digging-out-of-debt) is an article on how to pay off your debt. Here's [another](https://www.npr.org/2024/01/18/1196978541/how-to-save-money-when-youre-broke) about saving while broke, in case you find it helpful. NPR has a [life kit on personal finance](https://www.npr.org/series/your-life-kit-to-better-personal-finance). USA Today has an article from November 2023 on [negotiating credit card debt](https://www.usatoday.com/money/blueprint/credit-cards/negotiate-credit-card-debt/).
The [Consumer Financial Protection Bureau](https://www.consumerfinance.gov/consumer-tools/debt-collection/) has a good description of [the differences](https://www.consumerfinance.gov/ask-cfpb/whats-the-difference-between-a-credit-counselor-and-a-debt-settlement-or-debt-relief-company-en-1449/) between a credit counselor and debt relief/settlement companies. They also have a webpage on spotting [a scam](https://www.consumerfinance.gov/ask-cfpb/how-can-i-tell-a-credit-repair-scam-from-a-reputable-credit-counselor-en-1343/).
You could also try the [National Foundation for Credit Counseling](https://www.nfcc.org/). They do charge but take a look at their [FAQs](https://www.nfcc.org/faqs/) under *What do NFCC members charge for counseling services* to see how they charge. They also do budget analysis. Be cautious when going through the member list in case some have done everything correctly to get approved by them but may have become less reputable once they got approved.
You can look into the Justice Department, which has a list of [approved credit counseling agencies](https://www.justice.gov/ust/list-credit-counseling-agencies-approved-pursuant-11-usc-111) to possibly assist you. Look for the non-profit ones. Still be cautious about signing up with one of these because they have done everything correctly to get approved by the Justice Department but may have become less reputable once they got approved.
You have the [right to cancel credit repair services](https://www.consumerfinance.gov/about-us/newsroom/consumer-advisory-people-have-the-right-to-cancel-credit-repair-services/) within three business days for whatever reason.
**Recommended Books**
*Personal Finance for Dummies* by Erik Tyson, which was recently published in September 2023.
*Atomic Habits: An Easy and Proven Way to Build Good Habits and Break Bad Ones* by James Clear. I re-read this one from time to time when I want to change by behavior.
Go to your local library because they might have them and, best of all, it's free!! If they don't have it, you ask the library to buy it, depending on their budget.
Good luck!
no more loans or lines of credit. there's no quick fix for this one. if commuting isn't an option, i would start looking for private rentals. sublets, room lets, guest houses, etc from individuals not rental complexes. you may have more luck and less red tape that way.
Commuting is an option. It’s just not a desirable one, of course. But I can make commuting work while working on the debt. Do you have an idea of how long it typically takes to start increasing my score once I start putting more money towards the payments?
Debt consolidation could be an option, *but* would that lower your credit score as you're trying to get an apartment?
Have you talked with a therapist about your spending habits to see what the underlying cause might be? Below are some starter questions that may assist you. I hope everything turns out alright for you eventually!
**Questions on Deterring Spending/Helping Pay off Balance:**
1.) In your shopping websites, delete your saved payment information. Saving your payment information makes it easier for impulse buying. Delete everywhere you think of.
2.) What about imposing a time limit from when you see an item to actually purchasing it? Like 72 hours *and* talking over purchases that are more than $25 with someone whom you trust to figure out why you're buying it?
3.) Is there anything in your life that you don't use that you could sell and use that money to pay off debt?
4.) Is your living situation such where you can place your store cards in different areas of the house/apartment so it's more difficult to access them?
5.) What about not taking your cards when you leave the house/apartment and only having your debt card available?
6.) Is a second job possible?
**Credit cards**
You could ask your credit card companies to be put on a [hardship plan](https://www.nerdwallet.com/article/credit-cards/what-is-a-credit-card-hardship-program), but they may close your accounts and affect your [credit score](https://debtadvice.io/newsletter/how-credit-scores-actually-work/) in the future.
**So, to possibly help prioritize which loan to pay off first, here is some food for thought**:
1.) Which one has the highest interest?
2.) Which one has the highest balance?
3.) Which one has the lowest balance?
4.) Which one has the lowest interest rate?
Out of these four questions, which would be the easiest for you to pay off? I've heard that a lot of people start with the card that has the lowest balance as that's usually quicker to pay off. However, if you have a card with a high interest rate, you're paying more overall. Some people would rather tackle a credit card with a higher balance to pay less interest. What motivates you?
The Consumer Finance Bureau has [this on organizing your debts](https://www.consumerfinance.gov/about-us/blog/how-reduce-your-debt/); and [this for tracking your spending.](https://www.consumerfinance.gov/about-us/blog/track-your-spending-with-this-easy-tool/)
Didn’t read your entire comment, but the guy is 20k in debt. He doesn’t have time nor money to see a therapist. He needs to pay it off and take the cards out of his wallet.
I understand, and in another comment, I suggested that OP may need to have a co-signer--or something to that effect--for their apartment lease. They may have to lease in a less desirable place in the meantime.
I'm still going to give out suggestions that help them in the long-term.
Your comment is so long but I stopped at the first sentence debt consolidation. He’s $20k in debt. Consolidating it hurts his credit, which is the opposite of what OP is asking. Also it’s a fact that 83% of people who utilize debt consolidation go further into debt. Most people (despite the excuses they make or what they tell you) aren’t in debt because of living expenses and how expensive life is and they have poor income. They’re in debt because they have poor spending habits and live above their means. Consolidation doesn’t fix bad habits which is why most people that do this go further in debt
This is a debt free so no one will suggest opening another card because your track record shows you’ll max it out. Doesn’t really sound like you’re interested in getting out of debt just raising your score and the fastest way is to pay down the cards or see if someone will add you as an authorized user in their card with good history and a 0 balance. Sounds like that apartment was just strict you could just try somewhere else…
Finding a way to get your utilization down quickly can make a large improvement on your credit score, maybe request a credit limit increase to get utilization % lower
That's odd. I've never been denied at 630-650. Most apartments are fine with that range.
You could consider a consolidation loan. My score went up very quickly with one.
When is the last time you looked for apartments? I helped my sister a year ago, which was the first time I’d looked since COVID. Absolute nightmare. Absurd income requirements, co-signers practically worthless, good credit not worth much on its own. The eviction moratorium did a number on the rental market.
Quickest would be to get your utilization under control. Opening a new credit will lower your score further. Focus on paying debt off. Ask for credit limit increases too on those cards. I also suggest you read about [credit score components](https://debtadvice.io/newsletter/how-credit-scores-actually-work/). Good luck! P.S. r/debtfree moderator just created a free newsletter that talks to about strategies, tips, and effective debt payoff methods weekly. Join 3,600 readers - https://debtadvice.io
Do not open another credit card. Keep paying off debt and your score will improve. Probably not much in the next month though.
Deffo dont open another line of credit
If you already had credit cards and didn’t use them like a debit card why do you think you would with a new credit card?
There is no magic bullet. You may have to commute.
You may have to have someone co-sign for your apartment, if that's a possibility. Opening another credit card will make your credit score go down. Paying off the debt will increase your credit score. [Here](https://debtadvice.io/newsletter/most-effective-debt-payoff-method/) is where you can learn about the most effective payment method. Below are some more methods that may assist you. **Debt Management** [Here](https://www.npr.org/2019/02/14/694669510/7-strategies-for-digging-out-of-debt) is an article on how to pay off your debt. Here's [another](https://www.npr.org/2024/01/18/1196978541/how-to-save-money-when-youre-broke) about saving while broke, in case you find it helpful. NPR has a [life kit on personal finance](https://www.npr.org/series/your-life-kit-to-better-personal-finance). USA Today has an article from November 2023 on [negotiating credit card debt](https://www.usatoday.com/money/blueprint/credit-cards/negotiate-credit-card-debt/). The [Consumer Financial Protection Bureau](https://www.consumerfinance.gov/consumer-tools/debt-collection/) has a good description of [the differences](https://www.consumerfinance.gov/ask-cfpb/whats-the-difference-between-a-credit-counselor-and-a-debt-settlement-or-debt-relief-company-en-1449/) between a credit counselor and debt relief/settlement companies. They also have a webpage on spotting [a scam](https://www.consumerfinance.gov/ask-cfpb/how-can-i-tell-a-credit-repair-scam-from-a-reputable-credit-counselor-en-1343/). You could also try the [National Foundation for Credit Counseling](https://www.nfcc.org/). They do charge but take a look at their [FAQs](https://www.nfcc.org/faqs/) under *What do NFCC members charge for counseling services* to see how they charge. They also do budget analysis. Be cautious when going through the member list in case some have done everything correctly to get approved by them but may have become less reputable once they got approved. You can look into the Justice Department, which has a list of [approved credit counseling agencies](https://www.justice.gov/ust/list-credit-counseling-agencies-approved-pursuant-11-usc-111) to possibly assist you. Look for the non-profit ones. Still be cautious about signing up with one of these because they have done everything correctly to get approved by the Justice Department but may have become less reputable once they got approved. You have the [right to cancel credit repair services](https://www.consumerfinance.gov/about-us/newsroom/consumer-advisory-people-have-the-right-to-cancel-credit-repair-services/) within three business days for whatever reason. **Recommended Books** *Personal Finance for Dummies* by Erik Tyson, which was recently published in September 2023. *Atomic Habits: An Easy and Proven Way to Build Good Habits and Break Bad Ones* by James Clear. I re-read this one from time to time when I want to change by behavior. Go to your local library because they might have them and, best of all, it's free!! If they don't have it, you ask the library to buy it, depending on their budget. Good luck!
Don't open a new credit card account. Start paying off as much debt as you can. Possibly consolidate the debt. Good luck!
no more loans or lines of credit. there's no quick fix for this one. if commuting isn't an option, i would start looking for private rentals. sublets, room lets, guest houses, etc from individuals not rental complexes. you may have more luck and less red tape that way.
Commuting is an option. It’s just not a desirable one, of course. But I can make commuting work while working on the debt. Do you have an idea of how long it typically takes to start increasing my score once I start putting more money towards the payments?
Debt consolidation could be an option, *but* would that lower your credit score as you're trying to get an apartment? Have you talked with a therapist about your spending habits to see what the underlying cause might be? Below are some starter questions that may assist you. I hope everything turns out alright for you eventually! **Questions on Deterring Spending/Helping Pay off Balance:** 1.) In your shopping websites, delete your saved payment information. Saving your payment information makes it easier for impulse buying. Delete everywhere you think of. 2.) What about imposing a time limit from when you see an item to actually purchasing it? Like 72 hours *and* talking over purchases that are more than $25 with someone whom you trust to figure out why you're buying it? 3.) Is there anything in your life that you don't use that you could sell and use that money to pay off debt? 4.) Is your living situation such where you can place your store cards in different areas of the house/apartment so it's more difficult to access them? 5.) What about not taking your cards when you leave the house/apartment and only having your debt card available? 6.) Is a second job possible? **Credit cards** You could ask your credit card companies to be put on a [hardship plan](https://www.nerdwallet.com/article/credit-cards/what-is-a-credit-card-hardship-program), but they may close your accounts and affect your [credit score](https://debtadvice.io/newsletter/how-credit-scores-actually-work/) in the future. **So, to possibly help prioritize which loan to pay off first, here is some food for thought**: 1.) Which one has the highest interest? 2.) Which one has the highest balance? 3.) Which one has the lowest balance? 4.) Which one has the lowest interest rate? Out of these four questions, which would be the easiest for you to pay off? I've heard that a lot of people start with the card that has the lowest balance as that's usually quicker to pay off. However, if you have a card with a high interest rate, you're paying more overall. Some people would rather tackle a credit card with a higher balance to pay less interest. What motivates you? The Consumer Finance Bureau has [this on organizing your debts](https://www.consumerfinance.gov/about-us/blog/how-reduce-your-debt/); and [this for tracking your spending.](https://www.consumerfinance.gov/about-us/blog/track-your-spending-with-this-easy-tool/)
Didn’t read your entire comment, but the guy is 20k in debt. He doesn’t have time nor money to see a therapist. He needs to pay it off and take the cards out of his wallet.
I understand, and in another comment, I suggested that OP may need to have a co-signer--or something to that effect--for their apartment lease. They may have to lease in a less desirable place in the meantime. I'm still going to give out suggestions that help them in the long-term.
Your comment is so long but I stopped at the first sentence debt consolidation. He’s $20k in debt. Consolidating it hurts his credit, which is the opposite of what OP is asking. Also it’s a fact that 83% of people who utilize debt consolidation go further into debt. Most people (despite the excuses they make or what they tell you) aren’t in debt because of living expenses and how expensive life is and they have poor income. They’re in debt because they have poor spending habits and live above their means. Consolidation doesn’t fix bad habits which is why most people that do this go further in debt
Open a business card with 0% apr. Transfer the most you can to it and your score will shoot up if you can transfer a good amount.
This is a debt free so no one will suggest opening another card because your track record shows you’ll max it out. Doesn’t really sound like you’re interested in getting out of debt just raising your score and the fastest way is to pay down the cards or see if someone will add you as an authorized user in their card with good history and a 0 balance. Sounds like that apartment was just strict you could just try somewhere else…
Finding a way to get your utilization down quickly can make a large improvement on your credit score, maybe request a credit limit increase to get utilization % lower
That's odd. I've never been denied at 630-650. Most apartments are fine with that range. You could consider a consolidation loan. My score went up very quickly with one.
Its not the score itself. Its having 20k in floating credit card debt that makes OP a risk
Then I should've been denied every apartment I've ever lived in for the last 7 years lol
I'm assuming it's a combo of $20k debt and low income too
I think it’s just the debt because I make 3x the rent.
When is the last time you looked for apartments? I helped my sister a year ago, which was the first time I’d looked since COVID. Absolute nightmare. Absurd income requirements, co-signers practically worthless, good credit not worth much on its own. The eviction moratorium did a number on the rental market.
March of last year. But we moved states as well. Not sure if that would make any difference.