Question on Utilization/spreadsheets

[falcon7xx]

I was reading an article posted on this forum, about "AZEO". I saw someone say that the one card reporting a balance should be a National Bank card and not a Credit Union card. Any reason that should be the case? I usually have my NFCU card report, but maybe its time to have my Amex Revolver or US bank card report instead. 

Also any good spreadsheets out there for tracking AAoA, Utilization, Credit Inquiries, Deragatory Dates, etc?

[Anonymous]

If I'm not mistaken, it can be any bankcard. As long as it's not a store or charge card. 

Your NFCU card is a revolving bankcard and should be applicable to the AZEO method.  

I'll let someone verify this though. I know it can be any bankcard, I've just never read/heard anything of a CU card not being applicable to AZEO. 

[ccquest]

My spreadsheet will do many age metrics and utilization, not really for the derogatory dates or credit inquiries, but those should be simple enough to just track in another tab honestly.

As far as AZEO, I think the national bank card is just for consistency in reporting and how it shows up, but I could be wrong. Maybe @Anonymous can chime in on why credit union cards are included in the avoid category for it.

[Anonymous]

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@falcon7xx wrote:

I was reading an article posted on this forum, about "AZEO". I saw someone say that the one card reporting a balance should be a National Bank card and not a Credit Union card. Any reason that should be the case? I usually have my NFCU card report, but maybe its time to have my Amex Revolver or US bank card report instead. 

Also any good spreadsheets out there for tracking AAoA, Utilization, Credit Inquiries, Deragatory Dates, etc?

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Some CU cards report funny and do not work for AZEO, but from what I have seen is that NFCU has had no issues and is fine for your non-zero card.

[falcon7xx]

@ccquest  do you mind sharing your spreadsheet?

[ccquest]

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@falcon7xx wrote:

@ccquest  do you mind sharing your spreadsheet?

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Woops! I meant to link it there, here's the thread.

[Anonymous]

The reason it should be a national bankcard is because there is an AZ loss if no revolvers have a balance, yet if you use a retail card, it may save you from the revolver AZ loss, but the retail balance may also give you a separate penalty at EQ8, so you don't want to use retail. 

We use the term national bankcard because fico does, we avoid credit union cards in general because some of them are miscoded and have unpredictable results, but some like navy seem to work just fine.

To be safe, I simply recommend avoiding them in case someone happens to have one that’s miscoded and it’s crunch time for an application, so to give them the best advice to avoid potential problems.

Edited based on recent test results. 

[Anonymous]

I believe national bankcard simply means it has a MasterCard Visa or American Express or Discover logo on it and can therefore be used virtually everywhere. This is in contrast to retail/PLCC card that can only be used at a certain store or stores.

And ccquest’s awesome workbook is linked in my signature, too!

[Anonymous]

Please re-read post 7, as it has been revised due to recent test results.