topic Re: AZEO emergency *update 🤔🔥 in General Credit Topics

A z e o error

Shmike — Tue, 05 Dec 2023 14:29:43 GMT

So I'm in the process of doing a z e o. Two of my cards report on the 3rd of each month. One card had an $8 balance, that was paid in full. Actually it was negative $8 because of a statement bonus I got. My other card that reports on the same day, I put a $30 charge on it. It has a higher credit limit so I wanted to keep the utilization around 1%. Unfortunately that card hasn't reported yet or at least it hasn't reflected via experian. My experience score took a 16-point hit, I'm assuming because all my cards zeroed out. I'm hoping that my card with the $30 on it that was also supposed to report on the 3rd reports today, combating the negative effect. Does anyone think that will be the case? Will my scores bounce back from this hit, immediately? Do I have to wait for a full cycle IE a month? Am I doing the a z e o wrong? Should I be doing it so two cards have a balance at some point, that seems like the only way that I can do it without this happening again. I've course want to maximize my score, however I'm not that concerned because I am currently gardening for at least 8 months. Thanks in advance for any help you guys can offer!

Re: A z e o error

Tiersha — Tue, 05 Dec 2023 14:50:30 GMT

Some here swear by azeo and have given me grief over some of my azeo questuons/comments. To make a point I'm in azeo still and have been for several months, no lates, great mix of types of credit, (up until recently, also a mtg and a personal loan and paying them off only gave me the notice of...your credit has decreased by...and ive received a 4 point jump actoss two scores) 50k lines total in cc and I have a single $25 a month payment and only spend $25 so basically a recycle of that $25 and I pay before reporting date...all the stuff I've been taught.

Guess what.. it's hardly done anything. I still have at my 700+ f8. My mtg scores have only moved once in 6 months and honestly, they aren't even that great, they are just ok.

I told someone I'd do this for a yr and I'm 8 months in and see nothing changing. When the year is up I'll try two cards with low balance and see if that works the way I feel it did last time. To me my scores increased more when using 2 of my 6 cards on a regular basis.

People have told me time and again that I must have something on my report to be causing it not to go up etc but I don't. Ive argued this point frequently.

Now I'm just experimenting. The crap thing right now is the plateau on it all and the non movement of my mtg score considering I am headed into a cons loan.

Re: A z e o error

Shmike — Tue, 05 Dec 2023 15:02:27 GMT

I hear you it seems like a pretty exact. I did however use the score simulator in the myfico app and it says if you pay off all your cards to zero you'll lose about 15 points, and I just inadvertently did that and sure enough I got a 16-point hit! So like I said I'm gardening now not going to take on any new applications so I suppose scrutinizing my score over a few points it's kind of stupid but it's a new hobby so I can't help myself LOL I suppose I'll Tinker around a little bit too see where the sweet spot is for me. Thanks very much for your Insight and taking the time to read my question. Best of luck!

Re: A z e o error

Tiersha — Tue, 05 Dec 2023 15:12:39 GMT

The simulator is nice but not exact. By now per it, I should have been in the 800 on f8. Also since my uti is so low amd I only legit ha e 1 debt, my car, the Sim doesn't even work for that.

That said I'm grateful that im 60+ days in since paying off my mtg and personal loan and haven't taken a hit.

Re: A z e o error

Shmike — Tue, 05 Dec 2023 15:16:20 GMT

Haha! Totally! Most of the simulators only tell me to let my credit age. There's no other advice to give, I suppose because I've essentially done everything I was supposed to.

They'll simulate scenarios if I do something detrimental like open another card Etc but that's all it just tells me to let my credit "age"

Thanks again for taking the time to read and answer best of luck with your mortgage or lack thereof

Re: A z e o error

Tiersha — Tue, 05 Dec 2023 15:23:07 GMT

Thanks...the mtg will go thru I just wish the score was 10 or so points higher lol.

Ha e a good day amd you're welcome.

Re: A z e o error

SouthJamaica — Tue, 05 Dec 2023 15:25:50 GMT

@Shmike wrote:
So I'm in the process of doing a z e o. Two of my cards report on the 3rd of each month. One card had an $8 balance, that was paid in full. Actually it was negative $8 because of a statement bonus I got. My other card that reports on the same day, I put a $30 charge on it. It has a higher credit limit so I wanted to keep the utilization around 1%. Unfortunately that card hasn't reported yet or at least it hasn't reflected via experian. My experience score took a 16-point hit, I'm assuming because all my cards zeroed out. I'm hoping that my card with the $30 on it that was also supposed to report on the 3rd reports today, combating the negative effect. Does anyone think that will be the case? Will my scores bounce back from this hit, immediately? Do I have to wait for a full cycle IE a month? Am I doing the a z e o wrong? Should I be doing it so two cards have a balance at some point, that seems like the only way that I can do it without this happening again. I've course want to maximize my score, however I'm not that concerned because I am currently gardening for at least 8 months. Thanks in advance for any help you guys can offer!

You're overthinking this. I think you should stop trying to do AZEO, it's causing you too much anxiety.

If you pay everything on time, and pay some of your cards before the statement date, you'll be fine. You're trying to micromanage it to a degree that's not sustainable.

Re: A z e o error

Shmike — Tue, 05 Dec 2023 15:32:13 GMT

You're absolutely right! It's not exactly impossible because I know when my cards report approximately, within a day or two. So it's certainly sustainable. But I am without question overthinking it. I just feel like this is a productive hobby for one of a better word something my girlfriend and I do together. It's helpful, utilitarian and moderately entertaining!

Especially since I'm "gardening" I've committed to at least 8 months, perhaps a year. I just feel like it's something in my control, so why not? I wouldn't say it's stressing me out, per say. Perhaps it's getting more of my attention than it should. But again, it's not unhealthy. On the contrary I think. Something my significant other and I can do together. And it has a practical application, and real world consequences.

I have to say do value your Insight greatly, and appreciate any gems that you drop.

Thanks again SJ!

Re: A z e o error

JoeRockhead — Tue, 05 Dec 2023 15:38:24 GMT

Utilization has no memory so your scores will change as your UTI changes. You got dinged the all zero penalty, not a big deal. Nothing wrong with AZE0 but I think it's more hassle than it's worth. I let several (not all because that would incur another penalty) of my cards report balances, not the same ones every month either, and have seen steady gains.

Every now and again I've let a 10% usage on one card report, then let it show a significant pay-down to 1% or less report on the same card the following month. Then report to zero after that. You're in the garden... try different things, for science.

Re: A z e o error

Shmike — Tue, 05 Dec 2023 15:45:37 GMT

Right exactly that was my plan. I'm in it for the long haul so these little insignificant fluctuations are inconsequential. It's funny because I had a number of cards reporting small balances and I didn't in fact get a hit for that once I had only one card reporting a small balance my score did go up substantially so yes that absolutely is another metric they used to measure utilization. I am in the interest of science as you said going to play around with it. Thanks very much for taking the time! Best of luck and all of your credit endeavors!

Re: A z e o error

Tiersha — Tue, 05 Dec 2023 15:46:22 GMT

Thanks for this. This is what I experienced also...that azeo isn't the best and that all zero isn't the best...

Re: A z e o error

Horseshoez — Tue, 05 Dec 2023 16:12:36 GMT

While I rather despise the whole notion of AZEO and refuse to practice it, ten months out of twelve I do end up effectively AZEO or AZE2 (seems to matter not with my scores). I simply pay my cards off shortly before they are due and then rely on a latent charge or two to post prior to the statement date. As alluded to above, a couple times per year I do end up with the proverbial AZ (All-Zero) penalty which drops my scores ~20 points for the reporting period, but as has been mentioned by others, utilization has no memory, and the next month I have a card or two reporting a balance, my scores rebound.

Re: A z e o error

Shmike — Tue, 05 Dec 2023 16:24:00 GMT

Hey thanks very much for the insight, taking out the time to read my question. I suppose it's just the law of averages, the inadvertent a z e o if you will LOL

I see we have a few comparable cards from Capital One, I was curious to see if you could give me any insight into being bucketed. I have horrible credit limits but I started my Quicksilver out as a platinum subprime, so I assume I am in a low bucket. What's your experience with cap one? I only have $600 limit on my quicksilver in a thousand on my savor one. I'm kind of at a loss and ready to turn my back on Capital One in its entirety! They are my bank of record I get my direct deposit there, but that's easily changed. I do like their app and I love that they don't have any fees. Also, they seem to be teetering on a high-yield savings account. I don't know exactly what constitutes a high yield savings account but I'm getting some pretty good returns in my 360! I'm considering just putting some money in with boa or Wells Fargo and building a relationship with them. I don't have any confidence of getting out of that bucket. Your views? Also I see you have some pretty nice Prime cards the chase Etc how are your credit limits on those? If you don't mind me asking. Thanks very much!

Re: A z e o error

Horseshoez — Tue, 05 Dec 2023 19:02:45 GMT

@Shmike wrote:
Hey thanks very much for the insight, taking out the time to read my question. I suppose it's just the law of averages, the inadvertent a z e o if you will LOL

I see we have a few comparable cards from Capital One, I was curious to see if you could give me any insight into being bucketed. I have horrible credit limits but I started my Quicksilver out as a platinum subprime, so I assume I am in a low bucket. What's your experience with cap one? I only have $600 limit on my quicksilver in a thousand on my savor one. I'm kind of at a loss and ready to turn my back on Capital One in its entirety! They are my bank of record I get my direct deposit there, but that's easily changed. I do like their app and I love that they don't have any fees. Also, they seem to be teetering on a high-yield savings account. I don't know exactly what constitutes a high yield savings account but I'm getting some pretty good returns in my 360! I'm considering just putting some money in with boa or Wells Fargo and building a relationship with them. I don't have any confidence of getting out of that bucket. Your views? Also I see you have some pretty nice Prime cards the chase Etc how are your credit limits on those? If you don't mind me asking. Thanks very much!

Well this is annoying, I wrote you a detailed response and then the system blew up with an error and I lost the post. So, here is a somewhat abbreviated version:

CapOne:
- I applied for a secured Platinum after my Chapter 13 was discharged, and was approved for a $1,000 limit.
- The Platinum was insufficient for my needs and I closed it after less than 7 weeks and figured CapOne would hate me forever.
- I received a preapproval for a Quicksilver about six months after I closed the secured card and was instantly approved for a $3,000 limit; that limit has since grown by a requested CLI ($300), and two auto-CLIs ($1,500 each) to a limit of $6,300.
- About a year and a half ago, after my bankruptcy fell off my records, I applied for a SavorOne, and given I had FICO scores of 815+ across the board, I figured I'd be approved for a high(ish) limit. Nope, $2,000.
- I have since transfered $3,300 of my Quicksilver limit to my SavorOne and basically "sockdrawered" my Quicksilver.
- Like you I am taking advantage of CapOne's 360 Savings account where I have the downpayment for the house my wife and I are currently shopping for.
Chase:
- Unlike CapOne, Chase got burned in my bankruptcy and the prevailing wisdom is to not bother with them once they've been burned.
- Last December I opted to open up a Chase checking and savings account to facilitate moving money to a family member. While opening up those accounts the associate asked me if I wanted a credit card. Instantly approved for a Sapphire Preferred with a starting limit of $11,700.
- Last summer Chase sent me a preapproval for a Freedom Unlimited, and I was approved for a starting limit of $23,600.

Re: A z e o error

Shmike — Tue, 05 Dec 2023 19:13:31 GMT

First of all😂🤣😂🤣😂!!!!!

I've only been on this forum for about 2 weeks and that's happened to me at least three times! I'm at the point where I'm just dictating my messages. Hence my punctuation or lack thereof in some instances. I really want to get a point across and meticulously write something I copy and paste it from notes after having written their initially. So I get it believe me!

Quite an interesting strategy for Capital One. I think I'm a little too far gone to close the Quicksilver and savor and my Walmart rewards card so I think that ship is sailed. I wish I had that Insight earlier, so kudos!

That's remarkable with chase! Congratulations man that's a feat in and of itself! Perhaps I'll open a account with them, as you did. Did you set up your direct deposit from your employment there, or did you just throw in a couple dollars here and there?

Again thanks so much for taking the time to read my annoying questions, and lending me your Insight

I wish you all the best!

Post: my inquiries are crazy high right now. Tu 8, EQ 7, ex 16! I think I'm just going to fall back for about 8 months to a year until a few fall off. So I've started "gardening" I've been trying to scrutinize the forums specifically the applicable topics that pertain to my situation, but I've realized I can only get so much information that way. Hence my questions. But everyone here seems to be super super supportive and don't mind helping out. I love that! This is a great form I'm glad I was able to stumble across it! I also joined my FICO as a member to get more accurate and real-time scores. I feel it's paid dividends! Again, thanks very much! Be well

Re: A z e o error

Horseshoez — Wed, 06 Dec 2023 02:45:48 GMT

Regarding Chase, I put a few thousand in a savings account and then opted for $500 per pay period to go into the checking account which in turn keeps the cash available pretty stable (i.e. I have almost the exact same amount in the accounts today as I did when I opened them).

AZEO emergency *update 🤔🔥

Shmike — Fri, 08 Dec 2023 00:12:00 GMT

Sure enough, once my other balance hit, my 23 points bounce back in Equifax! The exact number of points I lost for zeroing out, I gained right back!

Very pleased, and for those of you who said FICO has no memory touche!

Thanks very much for all of your insights.

Now hopefully Experian bounces back the 16 points I lost🤞🙏👌

Re: AZEO emergency *update 🤔🔥

Horseshoez — Fri, 08 Dec 2023 02:47:12 GMT

You should have put this in your originial thread.

Re: AZEO emergency *update 🤔🔥

Junejer — Tue, 12 Dec 2023 04:13:25 GMT

@Shmike wrote:
Sure enough, once my other balance hit, my 23 points bounce back in Equifax! The exact number of points I lost for zeroing out, I gained right back!
Very pleased, and for those of you who said FICO has no memory touche!
Thanks very much for all of your insights.
Now hopefully Experian bounces back the 16 points I lost🤞🙏👌

FICO certainly does have a memory. Utilization doesn't. On F8, AZEO is not required in order to have great scores. For my profile, AZEO, AZE2 and AZE3 are all the same on EX. EQ and TU seem to get skittish above AZE2.

Re: AZEO emergency *update 🤔🔥

Shmike — Tue, 12 Dec 2023 04:21:04 GMT

Well you certainly seem to be exactly where I'm trying to get. So if you don't mind some advice, it'd be greatly appreciated. My TransUnion just went down nine points at AZ E2. This is more convoluted than I expected! But your scores and your credit limits speak volumes so any inside you can offer, again I really appreciate! We seem to have started in similar situations score wise. Will I start getting better credit limits, once my hard inquiries begin to fall off? Is there any semblance of a science to this?