AZEO DP's with 2 cards?

[castor4072]

Anyone have any data points on using AZEO with only 2 credit cards? Trying to get some feedback this week if I need to be at zero for both my cards before my statement or? I realize people are using the AZEO using  minimum of 3 cards. Just curious with having only 2 cards at the moment! Thank!

[MissLiz]

You would get the all zero penalty if both cards reported zero. 

[GZG]

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@castor4072 wrote:

Anyone have any data points on using AZEO with only 2 credit cards? Trying to get some feedback this week if I need to be at zero for both my cards before my statement or? I realize people are using the AZEO using  minimum of 3 cards. Just curious with having only 2 cards at the moment! Thank!

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you lose out on some FICO metrics by only having two cards and not at least 3, but I have to imagine 1/2 cards reporting a balance is still better than the all-zero penalty, so I would have one card reporting < 9% of its limit, preferably less than 1% regardless if you have one or two or three or 15 cards to be optimal

[Thomas_Thumb]

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@castor4072 wrote:

Anyone have any data points on using AZEO with only 2 credit cards? Trying to get some feedback this week if I need to be at zero for both my cards before my statement or? I realize people are using the AZEO using  minimum of 3 cards. Just curious with having only 2 cards at the moment! Thank!

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There is plenty of data out there. A profile with 2 cards receives the best score if 1 card reports a small balance under 9% UT. Next best is if both cards report small balance under 9% of their respective CLs. That may drop Fico 8 score 4-7 points relative to AZE1. Worse is AZ which can lower F8 score 15-20 points vs AZE1.

The same strategy applies to 3 card profiles. Fico 8 model best to worse: AZE=> AZE2=> AZE3=> AZ (assuming low balance reporting on cards). The older Fico mortgage models are more sensitive to # of accounts and % of cards reporting balances. For those models ranking for a 3 card file is: AZE1=> AZE2=> AZ=> AZE3.

[Zoostation1]

When I had 2 cards only on a dirty thin, young profile, I went from 1/2 reporting (9% on reporting card 6% overall)) to 2/2 reporting (10%, 6%, 9% overall).  That cost -16 EQ8, no change on TU8, and -3 EX8.  The numbers were way worse on FICO 9. -28 EQ9, -35 TU8, -24 EX9.

[castor4072]

Just an update with this 2 card AZEO methodology.  I have 2 cards, 1 with zero balance and one with a balance, overall 5% utilization between the 2 cards. 

DP = it raised my scores 2-4 points only.

As others have said, you need at least 3 cards to do AZEO. I've got a 3rd card, will see what happens after I get it and it reports.

So, small increase, nothing to write home about, though, an increase is an increase, I'll take it. i just want to give back to this community with DPs' as it's helped me as well.

[Thomas_Thumb]

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@Zoostation1 wrote:

When I had 2 cards only on a dirty thin, young profile, I went from 1/2 reporting (9% on reporting card 6% overall)) to 2/2 reporting (10%, 6%, 9% overall).  That cost -16 EQ8, no change on TU8, and -3 EX8.  The numbers were way worse on FICO 9. -28 EQ9, -35 TU8, -24 EX9.

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I suspect the increase in AG utilization to 9% had a greater impact on score drop than 2 of 2 cards reporting.