AZEO attempt

[dragontears]

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@Ficoproblems247 wrote:

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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. 

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Agreed. For my profile there is no 4-5% utilization threshold but other people have reported it. It is something that you can play with to see if there is any difference for your profile. 

I also want to point out, not every profile has to be at AZEO to maximize FICO 8 (other models are/can be different). For me there isn't a real difference between 1 to 3 cards reporting a balance. 

[rchvmz]

SouthJamaica-----the card w/the 75.00 balance, statement closes on the 15th, and according to my CR its reporting on the 14th each month. I have have the balance 75.00 now. As far as the others, I used a couple, but I have paid them off and they report on the same days as the statements close, according to my CR.......I am looking at Credit Karmas site that shows my cards and reporting dates--then I look at my statements.....so I make sure they are at 0 and 1 is < 8% before the statements close and they report...Is that the right way?

[SouthJamaica]

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@rchvmz wrote:

SouthJamaica-----the card w/the 75.00 balance, statement closes on the 15th, and according to my CR its reporting on the 14th each month. I have have the balance 75.00 now. As far as the others, I used a couple, but I have paid them off and they report on the same days as the statements close, according to my CR.......I am looking at Credit Karmas site that shows my cards and reporting dates--then I look at my statements.....so I make sure they are at 0 and 1 is < 8% before the statements close and they report...Is that the right way?

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1. It's not a question of when it's reporting, it's a question of what date's balance is being reported. Since you haven't identified the lender we can't tell you what date's balance it reports. If you're saying it always reports the balance from the 14th of the month, well then I guess that's what it is.

2. I don't know; I don't bother with the statements. To me they're old news. I just follow on the web sites to know what's what.

[rchvmz]

I have Credit One---Aspire--Fortiva that I use, the other 3---First Acess, Mission lane and Surge, I rarely use---are you saying you can tell me the dates these lenders report?

[jcooks]

If you have the credit one that you pay the AF broken down every month, rely on that as your posted balance.  As that card will never report a $0 balance (unless you push a payment before statement closing).  It would be much easier.

[rchvmz]

I paid the $75.00 AF up front----I am in my 1st year with this company. The 99.00 AF wont hit for another 4 months. I just paid the balance off and it reports on the 18th...my statement closes on the same day it reports.  Right now I have a 0 balance with the full CL available. The card with 75.00 balance will report on the 14th--the CL is 1000.00, so I am <8%....the other cards will report 0 as well. I believe the AZEO principle will apply here. 

[Anonymous]

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@dragontears wrote:

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@Ficoproblems247 wrote:

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@rchvmz wrote:

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

---

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. 

---

Agreed. For my profile there is no 4-5% utilization threshold but other people have reported it. It is something that you can play with to see if there is any difference for your profile. 

I also want to point out, not every profile has to be at AZEO to maximize FICO 8 (other models are/can be different). For me there isn't a real difference between 1 to 3 cards reporting a balance. 

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This is good to know. In a couple of weeks, I'll have one non-Chase reporting in my first attempt at AZEO, but I wondered if having more than one could work. I'll have to figure out my profile and see if it's only one for me or more than one.