One year post initial rebuild - Second round help

[Anonymous]

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 Definitely!  That's why I suggest you aim to build your own spreadsheet and then start tracking what changes happen.  Do you subscribe to credit monitoring?  If so, what website do you use?  Watching your scores go up as you make changes to your utilization is really helpful and it can keep you grounded in aiming for your goals!

I feel very confident that once you get your balances paid down correctly and use the AZEO Method as it exists, you will be at 720.  Please try to avoid new inquiries or new accounts, of course.  Don't close any credit card accounts yet without checking here first!

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Thanks. I use the FICO 3b. Have had it for over a year now so I regularly get to see how my balances and payments impact my scores. Maybe is should stop have my member fee charge to a credit card and switch it to debit my checking. LOL I just remembered that's how I pay for it and I'm pretty amused by it. Maybe that should be a rule... Don't charge your MyFico fee. ;-)  

[Anonymous]

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@DollyLama wrote:

My advice, when you do payoff these credit cards, keep them open and don't close the accounts. Sock drawer them. These will one day be your oldest accounts and affects length of credit history. I could understand if you were carry a huge amount of CCs, but 7 is not by any means a large number, your payment history with them is good. It makes your file thicker also, that inquiries in future won't have such as impact. It also helps the overall utilization, for the needs of those times for emergency use on a CC. Creditors will soft pull you from time to time and like to see a progressing credit history and payment history. The ones that will not be of use, example VS, only use to charge a item about every 4th month, and pay it off the following week and few days later, to keep the account active. Creditors will and often times close accounts by "creditor grantor" rather than "at consumer's request" due to inactivity, or if trouble arises and they strip all credit lines. In the long term, it will also build up your scores come the time you do decide to seek a mortgage. 

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I thought 7 was a lot but maybe that's because I'm making 7 monthly payments! Thank you.

[Anonymous]

The good news is once you can get yourself to a point of having the AZEO balances of $0 except for one, managing credit cards becomes easier.  Whenever you use a credit card to earn rewards, just go and push a payment from your bank to the credit card right away.  I do this already, takes like 10-12 seconds to push a payment from my phone to the creditor.  This weekend I used 3 different credit cards for different rewards purposes and immediately just pushed payments to all of them.

I recommend using Mint.com to track credit card balances and payments -- Mint will even warn you when you get close to a payment due date and it will also help give you warnings if a card goes active that you didn't expect to (say, annual fee).