You really don't need to be worrying about AZEO at this point. I never did it and it didn't hinder me getting the cards in my sig. You need to be thinking long term. I didn't and that's what's holding me back right now. Too many inquiries and recent cards. For example, if you get the u.s. bank card, it won't graduate on it's own. You need to call in and they'll pull your credit again, close the secured card, and open a new unsecured card. That's 2 inquiries and possibly 2 new accounts in a year's time. Not sure if they combine history. On the other hand, banks like discover and Citi, will graduate you and you'll be able to product change the cards, normally without any more damage to your reports. AZEO is to eek out as many points possible to boost your score for an approval. With the score in your signature, an extra 10 points isn't going to help you.
@calyx wrote:
@Anonymous wrote:
What happens if they say I'm approved and they send the card in the mail and I don't want it. Do I just leave it alone or do I have to call and cancel it. Cause I'm sure there is an annual fee with this card and maybe more. I just don't want to forget about a card and then not make the payments on time. If I never use the card do I have to pay the annual fee still?If you get a card and decide not to activate it, you still have to call the issuer to cancel it. And yes, you will likely owe the AF if there is one (though you could try to call customer service to get it revoked).
USBank's secured card does have a 29$ Annual fee. You will have to at least pay the first year (they charge the fee upfront) - if you ask for it to be graduated (turned into a regular unsecured Visa) after 12 months and they grant it, the fee will be discontinued.
If you never use the card, you will still owe the annual fee (this is true of any card).
If you are concerned with making payments on time, you can set up autopay - most, if not all, cards have that. I have all of mine set to either pay the minimum due or the statement balance so that if I forget to pay, they will take care of it for me. I can attest that USBank's works, because I never log into pay the statement (I have a recurring charge and a statement balance autopay set up).
The whole annual fee thing isn't quite true. Most cards have in the terms and conditions that as long as you haven't used the card in x days, it can be cancelled and a full refund will be given of all fees paid during set up. After x days you may not get a refund or just a partial refund. It would be dependent on the bank.
