topic Re: About this AZEO stuff in General Credit Topics

About this AZEO stuff

Anonymous — Thu, 18 Apr 2019 02:52:15 GMT

I have a couple of questions about AZEO:

1. I currently have two credit cards. Both zero balances. Can AZEO work with two cards or do I really need three?

2. Expalin the dates. Say my statement closing date is 4/4 and the payment due date is 5/3. Do I want to have a small balance on the statement closing date of 4/4 to allow it to report to the CRAs. Then, I make sure that I pay the balance in full prior to th payment date of 5/3.

Is that how that works?

Re: About this AZEO stuff

thornback — Thu, 18 Apr 2019 03:03:34 GMT

Hi Homebuyer - welcome to the forums!

You need three cards for AZEO because the point is to eliminate the "too many cards with balances" negative reason code by having no more than 1/3 of your cards report a balance. With only 2 cards, you can never achieve that -- you will be at 50% (or half) with one of two reporting a balance. So with only 2 cards, your goal is to maintain low utilization.

And yes, your understanding of how to control util reporting to the bureaus is correct. Pay down before your statement cut on 4/4, then pay the remainder by the due date of 5/3.

Re: About this AZEO stuff

Anonymous — Thu, 18 Apr 2019 13:00:38 GMT

This brings up a good question that I have of my own, can it be 2 cards and one card where you are an AU?

Re: About this AZEO stuff

Remedios — Thu, 18 Apr 2019 18:55:50 GMT

@Anonymous wrote:
This brings up a good question that I have of my own, can it be 2 cards and one card where you are an AU?

Yes, however you dont want the AU card to be the one reporting balance

Re: About this AZEO stuff

Anonymous — Sat, 27 Apr 2019 17:16:20 GMT

So I now have a third credit card. If I set up my $10 monthly Netflix on the new card and leave the other two cards at zero, will that be enough charges per month for AZEO? The card has a $1k limit. Do I need to charge more?

Re: About this AZEO stuff

Anonymous — Sat, 27 Apr 2019 18:31:05 GMT

From what I have gathered here, as long as you have a balance report at statement cut and its under 8.9% with the other cards at 0 you are golden. Then just pay off the netflix after the cut.

Re: About this AZEO stuff

Anonymous — Sun, 28 Apr 2019 08:13:01 GMT

@Anonymous wrote:
So I now have a third credit card. If I set up my $10 monthly Netflix on the new card and leave the other two cards at zero, will that be enough charges per month for AZEO? The card has a $1k limit. Do I need to charge more?

Perfect. No you don't need to charge more.

Re: About this AZEO stuff

Anonymous — Sun, 28 Apr 2019 08:20:32 GMT

@Anonymous wrote:
From what I have gathered here, as long as you have a balance report at statement cut and its under 8.9% with the other cards at 0 you are golden. Then just pay off the netflix after the cut.

Correct again, unless the card that you leave a balance on is issued by Chase.