AZEO question

[Anonymous]

Just learned about AZEO about 2 months ago. At that time, i only had 2 very low limit cards with my balance on the card with the lowest limit and zero on the highest. However, i have got 2 more since and dont know which one i should keep the small balance on now. So my question is, if you were me 😁 which one would you keep the balance on and why? Heres my line -up.
Cap 1 Quick 1-- $750 (6 months old)
Chase Frd Unlmtd-- $1500 (13 months old)
Amex BCE -- $2000 ( 1 week old)
Discover It -- $4000 ( 1 week old)
If you need to know anything else, let me know and ill gladly provide.

[K-in-Boston]

If you're doing AZEO keep the balance on the CapOne card for now since the Amex and Discover aren't even being reported yet.  Once they are reporting, any of those 3 are fine.  Chase is a bad lender for AZEO because they will report a zero balance to the credit bureaus any time you pay the card to $0.  All zero would cause a temporary FICO score penalty.

[HeavenOhio]

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@K-in-Boston wrote:

Chase is a bad lender for AZEO because they will report a zero balance to the credit bureaus any time you pay the card to $0.  All zero would cause a temporary FICO score penalty.

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They're also a great lender if the zero balance works to your advantage.

[Meanmchine]

I agree with K above but for different reasons.  Cap1 has tightened up a bit on CLs. People here have had their Cap1 CL cut because of lack of use.  Toss Cap1 a bone, let $50 report

[Anonymous]

Yes!! Ive noticed Chase does that!! If I pay it down to 0 a few days ahead of payment due date, they report it that day rather than the closing date like others do. It confused me a few times. So, anyhow, I suppose the card limits dont have anything to do with which one you use as your 'except one'? I thought I had read somewhere that you should use your highest limit card but then i never saw or read anymore that supported that info.

[MakingProgress]

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@Anonymous wrote:
Yes!! Ive noticed Chase does that!! If I pay it down to 0 a few days ahead of payment due date, they report it that day rather than the closing date like others do. It confused me a few times. So, anyhow, I suppose the card limits dont have anything to do with which one you use as your 'except one'? I thought I had read somewhere that you should use your highest limit card but then i never saw or read anymore that supported that info.

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The advantage to using your highest limit card as your except one is that you can let more of balance report and still keep below the 8.9% threshold for optimal scoring.

ie.  Cap One should report less than 66.75 

       Chase should report less than 133.50 

        Amex should report less than 178.00 

        Discover should report less than 356.00 

So if you are going to let a card report 50.00 than any of your cards are fine, If you want to let 150.00 report it should only be on the Amex or Discover, and if you want 200.00 to report it should only be on Discover. 

[Anonymous]

Okay now i get why some do it that way. That makes total sense. I probably wont have more than $10 show on my card so ill just leave it the way it is for now! Thank you for breakdown! I appreciate it!