Managing AZEO

[Anonymous]

Yep, I definitely recommend making sure that the first autopay goes through as it should.  With some CC issuers the first autopay can take 60 days to go through.  At least that was true several years ago.

Once the first autopay goes through, I think SBR is right that the CC issuer would fix any problem that occurred subsequently.

[Anonymous]

---

@Anonymous wrote:

Once the first autopay goes through, I think SBR is right that the CC issuer would fix any problem that occurred subsequently.

---

Yes,  but only  if you noticed that something went wrong and contact the issuer.  All I said was to check once  a  month to make sure the payment went  through. For example just  looking at your statement every month will be good enough.  But   I have   seen cases in the forums  where people ignore their   accounts  for months at a time.     Saying "set-up autopay and forget about it"  encourages such irresponsible behaviour.

[Anonymous]

I'm sure by "forget about it", CGID meant forget about micromanaging UTI, not stop monitoring your accounts altogether. If you can't be bothered to at least check your monthly statement or setup alerts, autopay or otherwise, you got no one to blame but yourself.

[Anonymous]

---

@Anonymous wrote:
I'm sure by "forget about it", CGID meant forget about micromanaging UTI, not stop monitoring your accounts altogether. If you can't be bothered to at least check your monthly statement or setup alerts, autopay or otherwise, you got no one to blame but yourself.

---

I agree.  I realize that I'm interpreting the phrase "forget about it"  differently than CGiD meant it. But  I was kind of surprised  that two different posters at least indirectly disagreed with my second recommendation  ("Once a month: Check that the auto-payment was really made") and I  came out to strong in my last post. 

 Actually  I liked  CGiD's first post  in this  thread and kudoed it. I just didn't like the way that one sentence  was  phrased, since some people might read  it in ways it was not meant.

[Anonymous]

You guys are all raising good points.  I am a big advocate of adding multiple layers of protection: e.g. alerts for failure to pay plus autopay plus alerts for transactions (etc.).

One thing to remember is that CC issuers don't report the late until 30 days after the due date.  That gives you a lot of time to get pinged about it.

I am also encouraged by how readily many people here have success with having a single Day 30 late removed -- and that is when it is their fault!  My guess is that when it is the CC issuers fault it is far easier.

[UpperNwGuy]

I don't think AZEO is worth the trouble.  I got my scores up into the 800s without once using AZEO.

[Anonymous]

---

@UpperNwGuy wrote:

I don't think AZEO is worth the trouble.  I got my scores up into the 800s without once using AZEO.

---

Right.  You built up an 800+ score over time.  AZEO does not help a person build a score over time -- not the least bit of help.

It's a good simple and 100% effective rule, however, for optimizing one's score shortly before a really important credit pull.  So long term help -- no.  Short term strategy -- yes.

[Anonymous]

---

@Anonymous wrote:

---

@UpperNwGuy wrote:

I don't think AZEO is worth the trouble.  I got my scores up into the 800s without once using AZEO.

---

Right.  You built up an 800+ score over time.  AZEO does not help a person build a score over time -- not the least bit of help.

It's a good simple and 100% effective rule, however, for optimizing one's score shortly before a really important credit pull.  So long term help -- no.  Short term strategy -- yes.

---

The key word is "score" and we all know score isn't everything, profile itself often plays a larger role. I would rather give up a few points in exchange for a profile that shows responsible usage of credit, instead of one that uses little to no usage of credit, while asking for more credit.

[Anonymous]

---

@Anonymous wrote:

---

CGiD, I realize that I'm taking your sentence out of context, but I cringe every time somebody uses "autopay" and "forget about it" in the same sentence.This is just asking for a 30 day late. However unlikely, computer glitches and other screw-ups happen.......

---

This has happened to me in Q1 2018. Macy's store card was set on autopay, and the payments weren't made for three months straight--but the confirmation codes were being generated in their system.  Adverse actions were reversed after making a complaint, and I was strangely issued a new card with a new account number afterwards.