@masscredit wrote:I started rebuilding from a BK in May of last year and live by AZEO. I let my daily driver card (house bills) post a balance for charges made between the 1st and 5th of the month. I pay that down to zero the last day of the month (due date is on the first). I know it's not going to help score wise but for manual reviews, is there any benefit of letting high balances post once in while instead of most cards closing at zero?
I'm changing things up and taking a score hit this month. I've run a little over $6K though 4 of my cards. I'm letting the balances post instead of AZEO. I'll get dinged for a month. Maybe it will help in the long run and maybe it won't...
No.
I think the most beneficial thing you could do to your credit is AZEO. Holding balances will just hurt your score temporarily but it's not the end of the world from what i noticed, scores will go back up when you start PIF again or AZEO
No benefit to your score.
There is some speculation that some credit card issuers (Cap 1) may be more likely to grant a CLI if a higher balance posts on the statement once in a while.
EQ8 765, TU8 755, EX8 767 as of December 21
The way I see it, doing AZEO is a small score reward for doing a chore.
I think it has value as an approach to help avoid late payments.. I consider AZEO masking my 'normal' score which organically fluctuates. I prefer that organic up/down over the 'OOPS messed up AZEO this month' score tweaks.
I did AZEO for maybe a year after coming here and reading about it. Neat... Then I got kind of tired of doing it for various reasons. At first I was paying them too early.. make more charges and have to pay again. Later I have a few more cards and used them all and it's more of the same. Then finally I tried to time it close to the statement close dates... but dates, although not a ton, were scattered some.. I've been too lazy to check about moving dates.. I will probably add cards in time, more scattered dates perhaps.
Given the float time from statement cuts I can collect almost all the statements and pay them all at one time before the due dates. Seems a bit more efficient to me... in reality I may pay some the day the paper arrives depending on schedule, etc.
Ultimately, I think there is value in my process of checking my receipts off while reviewing the paper statements I insist they all send me.
- I like to borrow their money and pay them back in full as agreed. They give some ~25 days from statement cut, I see no reason to rush.
- T&C regarding disputes IIRC... goes something along the lines of a transaction which is to be disputed can't have been paid already.
- Stuff I buy with intent to use the extended warranty benefit, etc if needed.. Ensuring req'd receipt/docs are handled..easily found, etc.
..not to be confused with being blind until I get their statements in the mail, or the possibility that they will go unpaid or late due to not getting the papers. I'm on top of it despite my old ways.
In my case, I prefer to use the time granted to float the charges at least until I am certain it all checks out and sign off on it.
I don't see score changes big enough to worry about it one way or the other.
Maybe of no value, but I decided that I wanted balances to report so that my spending/payment shows... also it's a way to input more (meaningful?) data on my thin credit file faster.
Reason being, my spending and income may or may not make sense to an algo of human UW without more info.. I'd rather they get as much as they can from my reports before/if I ever talk with someone about it.
@DONZI wrote:
I don't see score changes big enough to worry about it one way or the other.
My thoughts exactly.
I have some 0% CC debt reporting... with most cards reporting $0... and my daily driver (AmEx) cuts a statement for $2-$3k each month that I PIF.
OMG if I pay the AmEx off the day before the statement cuts I might gain 2 pts on my TU!!!!!
Don't care.
