Hello, and thank you for your question.
You can always apply for a loan. And while 68% is high for utilization, it’s only one part of your entire credit picture. In fact, utilization comprises 30% of your FICO score. The rest of it depends on your credit history, length of history, new accounts and inquiries and mix of credit.
The higher your credit score, the more choices in personal loans you’ll have, and the lower the rate you’ll pay.
You can use a personal loan to pay off credit cards and reduce your utilization. Even take it down to zero if you pay off all credit card balances.
You may be able to enhance your chances or approval by getting a co-signer. Try checking out these two articles. One is about personal loans for debt consolidation.
The other concerns personal loan interest rates and how to pay less.
Thank you for writing and feel free to write again if we can help.
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