@arkanewrote:
@sjtwrote:
@redpatwrote:
@sjtwrote:
@UpperNwGuywrote:A good argument for paying each of your credit card once a month after its statement cuts is that the statements will document your use of those cards. Lenders will see your overall usage when they pull your data from the credit bureaus. While AZEO may be a good technique for improving one's credit score, it doesn't necessarily help you with maintaining high credit limits. I recommend using AZEO for a period of time, and then stop using it once the credit score has risen.
I dont think AZEO has anything to do with it because Cap1 has a record of all your transactions.
What Cap1 is doing is basically reallocating CL to new or other accounts without increasing their liability.
CO doesn't see your other accounts when the SP your reports. As UNG said AZEO can have a negative impact for high limit cards and CLI. CO doesn't see any credit usage. AZEO is for the birds, IMO.
When a creditor does a SP, they can get the full report if they are pulling for an existing customer. A CR (Ive seen it on my TU reports) does show the highest balance (even within a cycle) and payment amounts.
AZEO is a good technique for those who want to maximize their scoring potential (rebuilders and new to credit). For those who have long established credit and high credit scores, its not necessary.
I think it's all a moot point. The monthly statements document your actual usage regardless, and showing a 0 balance for a period of time only becomes an issue when a lender decides that they don't like seeing a 0 balance (potentially on other cards too) for whatever reason.
Now I don't know about you, but if a lender gave me a CLD because I wasn't "carrying enough balance on other cards", (or in other words, a 100% BS reason) I'd call them the same day and close the account. These are not lenders that I want to do any business with. If I'm using your card on a regular basis, how and when I decide to pay my balance is none of your business as long as I'm not late with my payments. How I use and pay my other cards is even less of your business as long as they're all current, so go stick your nose where the sun doesn't shine please.
Well, that's my philosophy anyway, but I know that's not how it actually works in the real world.
Exactly, you're looking at it from a 2D perspective. Not in the reality sense of 3D. Stores don't earn money on window shoppers. Same with these banks. I can only imagine what goes through a UWs head reviewing a CR with $50k in CLs and only $2 showing as the balance across 5 CCs. 😂 I don't believe telling them you practice AZEO is going to help that case.
At least give them hope that they can earn something off you one day. 😉
Not all banks report your total balances paid if you wipe it out before the statement cuts.
Some of that valuable information no one but that particular lender will see. That's ok if you plan to stick with just those lenders excluding Capitol One.
Their not looking for perfection. They are looking for people that use credit cards and use them a lot.
@Gmood1wrote:Exactly, you're looking at it from a 2D perspective. Not in the reality sense of 3D. Stores don't earn money on window shoppers. Same with these banks. I can only imagine what goes through a UWs head reviewing a CR with $50k in CLs and only $2 showing as the balance across 5 CCs. 😂 I don't believe telling them you practice AZEO is going to help that case.
At least give them hope that they can earn something off you one day. 😉
Not all banks report your total balances paid if you wipe it out before the statement cuts.
Some of that valuable information no one but that particular lender will see. That's ok if you plan to stick with just those lenders excluding Capitol One.
Their not looking for perfection. They are looking for people that use credit cards and use them a lot.
No need to report total balances paid during the statement cycle as long as they report the (historic) high balance. If my high balance is >30% util on each of my open accounts, then whoever does the review understands there's at least the potential for me to run a lot through their cards.
I understand the business aspect of it, but the way I see it, there are many lenders to choose from. Unless you offered something unique and a cut above the competition, I'm not going out of my way to appease you. If it doesn't make financial sense for me to put spend on your card that month, then I'm not running any charges through it period. Only exceptions I'd make would be for my oldest account and/or highest CL card, but luckily so far I've had no issues putting several hundred dollars through it every month just from organic spending on groceries and gas.
Well, shoot. Sorry for those that got hit 
Hopefully your overall utilization was in check already when it happened so your scores won't take too bad of a hit.
Hopefully your overall utilization was in check already when it happened so your scores won't take too bad of a hit.