topic Re: AZEO and American Express in General Credit Topics

AZEO and American Express

joeyv1985 — Tue, 27 Jul 2021 17:04:35 GMT

All,

Currently, I'm practicing the AZEO method with 4 of my "credit cards", with only my CSP reporting. However, I do have an American Express Platinum that reports as well. Since this is a "charge card", does this have an impact on the AZEO Method? Not sure if charge cards impacts the AZEO formula or not.

Re: AZEO and American Express

Remedios — Tue, 27 Jul 2021 17:08:08 GMT

It does since it's an account with balance. AZEO requires only one account w/balance.

The only thing "not included" is limit because for reporting purposes, there isn't one on 8 and 9.

On older scoring models,highest balance is used as "limit"

So, if you have cc and charge card reporting, you are not doing AZEO.

Re: AZEO and American Express

joeyv1985 — Tue, 27 Jul 2021 17:09:56 GMT

Gotcha. I'm not sure what made me think charge cards weren't included.

Re: AZEO and American Express

joeyv1985 — Tue, 27 Jul 2021 17:23:21 GMT

On older scoring models,highest balance is used as "limit"

This is good to know. Thanks.

Re: AZEO and American Express

SouthJamaica — Tue, 27 Jul 2021 18:23:15 GMT

@joeyv1985 wrote:
All,

Currently, I'm practicing the AZEO method with 4 of my "credit cards", with only my CSP reporting. However, I do have an American Express Platinum that reports as well. Since this is a "charge card", does this have an impact on the AZEO Method? Not sure if charge cards impacts the AZEO formula or not.

Yes as @Remedios points out the Amex charge card counts as an account with balance (it's excluded from utilization percentage computations, which is why you were thinking it might not count).

Be careful about using the Chase card as your balance-reporting card. If you pay it to zero it will report a zero balance mid-cycle.

Re: AZEO and American Express

joeyv1985 — Tue, 27 Jul 2021 18:39:22 GMT

Be careful about using the Chase card as your balance-reporting card. If you pay it to zero it will report a zero balance mid-cycle.

Thanks, South Jamaica. I learned about that the hard way.