AZEO attempt

[rchvmz]

I have 6 cards-----This month, I am having 5 cards reporting PIF--and one card with a 1000.00 limit will report with a balance of 75.00. Is this the correct way to utilize the AZEO system?

[Horseshoez]

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@rchvmz wrote:

I have 6 cards-----This month, I am having 5 cards reporting PIF--and one card with a 1000.00 limit will report with a balance of 75.00. Is this the correct way to utilize the AZEO system?

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More or less, yes.  That said, I have both experienced, and seen reports of other folks experiencing, a slight point reduction for a single card utilization between 4% or 5% (I don't remember which) and 8.9%; given $75 will bring your utilization up to 7.5% you might want to consider paying an extra $36 on that account to bring you under the 4% threshold.

[rchvmz]

I heard the sweet spot is <8.9%...?

[Ficoproblems247]

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@rchvmz wrote:

I heard the sweet spot is <8.9%...?

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Correct. The 4-5% range is for aggregate and is very much profile dependent. The way you are letting your balances report is just fine. You'll see the effect more so on your mortgage scores, bankcard scores, and auto scores than classic 8. 

[jcooks]

I just try to keep it under 10%.  The strategy of AZEO when I'm not trying to squeeze every fico point is not worth the headache.  If I go over 10% or under 10%, it's not a big deal as the following month when it levels out, it will just return back. 

[Guyatthebeach]

rchvmz,

During my rebuilding years, I found I maximize my score when I keep my utilization between 8 and 9%.

Guyatthebeach

[SouthJamaica]

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@rchvmz wrote:

I have 6 cards-----This month, I am having 5 cards reporting PIF--and one card with a 1000.00 limit will report with a balance of 75.00. Is this the correct way to utilize the AZEO system?

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Yes but I wouldn't use the term "PIF", since that could mean either paying in full before the statement cuts or paying in full after the statement cuts.

What matters is that other than the card reporting a $75 balance, the others report a zero balance.

And it actually could matter what kind of card you're using to report the $75 balance. To be safe it should be a non-Chase bank card.

[Horseshoez]

Taking the bait...

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@SouthJamaica wrote:

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And it actually could matter what kind of card you're using to report the $75 balance. To be safe it should be a non-Chase bank card.

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Okay, I gotta ask (not that it matters to me as I'll be blacklisted by Chase for a good long while yet), why should the card with a balance be a "non-Chase card"?

[dragontears]

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@Horseshoez wrote:

Taking the bait...

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@SouthJamaica wrote:

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And it actually could matter what kind of card you're using to report the $75 balance. To be safe it should be a non-Chase bank card.

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Okay, I gotta ask (not that it matters to me as I'll be blacklisted by Chase for a good long while yet), why should the card with a balance be a "non-Chase card"?

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That advice is given because chase automatically reports a $0 balance to the CRAs whenever the card balance is 0 so it is easy for someone to "mess up" their attempt at AZEO andbe at AZ instead. A Chase card can be used for AZEO if the individual is careful to never pay the card to $0 (i.e. charge something before paying the statement balance).

[SouthJamaica]

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@Horseshoez wrote:

Taking the bait...

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@SouthJamaica wrote:

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And it actually could matter what kind of card you're using to report the $75 balance. To be safe it should be a non-Chase bank card.

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Okay, I gotta ask (not that it matters to me as I'll be blacklisted by Chase for a good long while yet), why should the card with a balance be a "non-Chase card"?

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Because Chase reports mid-cycle whenever you pay it down to a zero balance.  So if you rely on a Chase card as your balance-reporting card, you might inadvertently get hit with the "all zero penalty".