cancel
Showing results for 
Search instead for 
Did you mean: 

AZEO Effect on Mortgage scores

tag
Anonymous
Not applicable

AZEO Effect on Mortgage scores

Hi there- it's taken me a year, but I'm at AZEO this month.  I left $30 on my Cap One card, and that statement cutoff is in the 21st.  CapnOne has been updating with the CAs around the 26th of each month.  

Here are my current scores:

 

EX-  723 FICO 8, 645 FICO 5

TU-  723 FICO 8, 689 FICO 4

EQ-  723 FICO 8,  683 FICO 2

 

When I use the score simulator on myFICO, and take my card balance down to $30, I get the following FICO 8 predictions:

 

EX- 733

TU-728

EQ- 733

 

(So increases of 10, 5, 10 points). 
Is the simulator accurate and should my mortgage scores go up by the same amt of points? Or is there an added/ incremental boost because of AZEO? Hopeful....

 

 

8 REPLIES 8
AllZero
Mega Contributor

Re: AZEO Effect on Mortgage scores

What was your previous individual and aggregate utilization %?

We will need that data to compare the before and after to gauge score estimates.
Message 2 of 9
Anonymous
Not applicable

Re: AZEO Effect on Mortgage scores

@Allzero---

 

Of course, apologies!  here are the stats after last month's reporting, but before the CAs register my last paydown effort!

 

10% overall Utiization on my revolvers.

 

Synchrony Home:  472/6000: 7.8% (will now be zero)

Chase Card:                 0/4000:  0%

Care Credit:                  0/7000:  0%

Cap One Card:              1976/5500:  35.92%   (will now be $30, or .5 %)

 

I hope this is enough info. to help predict movement in mortgage scores?  I'll get a bump by going below the 8.9% threshold.  And perhaps an incremental bump for AZEO?  In the perfect world, my mid score would go from 683 to 700.  But that may be ambitous!

Message 3 of 9
AllZero
Mega Contributor

Re: AZEO Effect on Mortgage scores

  • Your aggregate utilization will cross one threshold 8.9%. Estimate ~10-15 point gain. Depending on profile, there might be another threshold at 4% for a couple of points.
  • Your Cap One individual utilization account will cross one threshold 28.9%. Estimate ~5 point gain
  • You also had a score penalty of 50% or more of accounts reporting a balance. You have reduced it down to 25% of accounts reporting a balance. You can expect a score gain. How much, I'm not quite exactly sure because of your score card.

If those are your only 4 revolvers, on a clean score card and going AZEO, I estimate ~10-20+ points for FICO 8. EX2, TU4, EQ5 should react similarly.

Message 4 of 9
Anonymous
Not applicable

Re: AZEO Effect on Mortgage scores

Thanks so much!  I'll report back after the 26th with actual results and data points.

Message 5 of 9
AllZero
Mega Contributor

Re: AZEO Effect on Mortgage scores


@Anonymous wrote:

Thanks so much!  I'll report back after the 26th with actual results and data points.


You're welcome. Good luck. I hope you get more than the points you seek. Will wait anxiously for your results.

Message 6 of 9
Anonymous
Not applicable

Re: AZEO Effect on Mortgage scores

Well, what was the update?

Message 7 of 9
Anonymous
Not applicable

Re: AZEO Effect on Mortgage scores

Any update?

 

I am in the process of doing something similar and really curious about the impact AZEO will have on your mortgage scores. Thanks for posting!

Message 8 of 9
KLEXH25
Valued Contributor

Re: AZEO Effect on Mortgage scores

She posted her results here:

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Help-Could-AU-Status-Be-holding-me-back/...

 

Looks like she only gained one point though because she had a few late payments and an AU account reporting at 10%. 



Message 9 of 9
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.