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Probably a stupid question but, does the AZEO method include store cards, or only Major cards?
@ktm214 wrote:Probably a stupid question but, does the AZEO method include store cards, or only Major cards?
Yes, it includes store cards, assuming they report to the three CRA.
Any revolving credit card is factured in.
What is AZEO method ?
Only have 1 card report a balance <8.9% of the total credit line on 1 card, then PIF before due date. Have the other cards report $0. All Zero except One. FICO likes it and keeps scores up. Best to do with 3 cards. FICO doesnt care for more than 50% of total cards reporting a balance.
Thank you all for the responses!
@FireMedic1 wrote:Only have 1 card report a balance <8.9% of the total credit line on 1 card, then PIF before due date. Have the other cards report $0. All Zero except One. FICO likes it and keeps scores up. Best to do with 3 cards. FICO doesnt care for more than 50% of total cards reporting a balance.
Why is it best done with 3 cards, what if one has many more cards? Leaving all at zero except one and PIF before due would have the same effect?
@Anonymous wrote:
@FireMedic1 wrote:Only have 1 card report a balance <8.9% of the total credit line on 1 card, then PIF before due date. Have the other cards report $0. All Zero except One. FICO likes it and keeps scores up. Best to do with 3 cards. FICO doesnt care for more than 50% of total cards reporting a balance.
Why is it best done with 3 cards, what if one has many more cards? Leaving all at zero except one and PIF before due would have the same effect?
It doesn't have to be 3 cards, but it works with AT LEAST 3 cards, because as mentioned upthread, FICO dings your score if you have 50% or more of your cards reporting a balance. If you have more than 3 cards, then yes, same rules apply.