For more productive strategies to help you, check out http://www.YourProsperityPower.com/video and see what you can do with a few small changes in your financial strategies.

Thanks for spreading the word, and have an awesome day!

I don’t know your overall credit situation, so it’s hard to say how well the script will work for you. If you have 3 credit cards with at least 6-12 months of good payment history on them, the script should work for you. Since you have a 9.9% card you likely have a decent credit score already so go for it and see what happens!

By the way, if you don’t know how to remove inquiries off your credit report you only want to use this script once every 12 months. If you know how to remove inquiries, then you can use it every 6 months.

First, I commend you for building a web business with your disability. Many able-bodied people complain about what they CAN’T do, which really only means they don’t know how to do or they don’t want to do. So great job taking action!

I don’t believe in an either/or world. I believe in an AND world. So by all means look to raise your credit limits AND look to get a loan to help building your web business. If you’re not able to raise your personal limits because the banks say your balances are too high, then I recommend you work to pay down the balances and also I encourage you to raise credit in the name of a corporation. You can raise $50,000 in the name of a business within 3-6 months regardless of your personal credit score, which can be very helpful to you in building your business.

Keep taking action and I wish you well, Charlotte!

David

I’m very glad you asked this question about the best approach to take. Here’s what I’d do in your situation:

1. When you close on the building loan, only pay 60% of your balances off on your cards (leave 40% balances).
2. Call your banks and use the script to get your limits raised. The ones that haven’t had late payments are the ones most likely to raise your limits. Don’t pay a card off 100% because if they review your account and see late payments they may lower your limits drastically which defeats the whole purpose of using the script. Keeping a balance gives you more leverage.
3. By all means tell them you may consolidate balances unless they lower your rates, and DON’T actually close any of your accounts. Closing an account lowers your total amount of credit which raises your balance/limit ratio and lowers your credit score PLUS you lose the good history of an aged account. None of those results get you where you want to go. Also, you’re not likely to get a ‘come back’ letter like your friends did in the past in this current credit environment. So threaten to close an account, but don’t actually do it.
4. Make all your payments on time going forward. Most banks will only raise your limit once you’ve made 6 or 12 payments in a row on time.
5. Lastly, since it looks like you’re a business owner I strongly urge you to raise and utilize corporate credit. This way you can pay your personal cards down even more, get access to more capital, and when you use the capital it won’t show up on your personal credit report and lower your personal credit score.

I appreciate your patience awaiting my response, and thanks for the question and let me know how it goes!