1 CC vs AZEO

[Roward74075]

Hello all.

I understand there are a lot of factors, but in general how big of a difference is there really between a 0/0/8.9% AZEO and a single open CC (and no other open revolving accounts) at 8.9%? I'm looking to simplify my life with a single CC if it's only a minor FICO ding. ie a 10-20 point ding is fine with me, but a 60-80 point loss is a bit hard to stomach...just looking for some generalizations here.

thank you so much!

[SouthJamaica]

---

@Roward74075 wrote:

Hello all.

I understand there are a lot of factors, but in general how big of a difference is there really between a 0/0/8.9% AZEO and a single open CC (and no other open revolving accounts) at 8.9%? I'm looking to simplify my life with a single CC if it's only a minor FICO ding. ie a 10-20 point ding is fine with me, but a 60-80 point loss is a bit hard to stomach...just looking for some generalizations here.

thank you so much!

---

Welcome to the forum.  I don't think you'll lose a lot of points. Maybe 20 or so. But I think it's a mistake to put all one's eggs in one basket.

[Thomas_Thumb]

If you have one credit card, aggregate and individual utilization are the same. In that case, if you want to play the AZEO game, I would recommend card utilization report under 5% for best results. It is much better to have the card report some balance rather than no balance. Even a utilization up to 28% would likeky cost no more than 15 points whereas the no recent revolving activity (all zeros) penalty might be 20 points.

You should consider 2 cards, rather than 1, even if simplification is your objective. Having 2 provides some insurance in the event a card is closed, lost or targeted by fraud. Also, some establishments may take one type of credit card but, not another.

[GZG]

^^^^^

One Visa and One MC from different issuers at the very least imo

[Horseshoez]

---

@Roward74075 wrote:

Hello all.

I understand there are a lot of factors, but in general how big of a difference is there really between a 0/0/8.9% AZEO and a single open CC (and no other open revolving accounts) at 8.9%? I'm looking to simplify my life with a single CC if it's only a minor FICO ding. ie a 10-20 point ding is fine with me, but a 60-80 point loss is a bit hard to stomach...just looking for some generalizations here.

thank you so much!

---

I'm not sure I understand the "simplify my life" comment; if you want to work with one card, great, put another two (open but unused) cards in the proverbial sock drawer and forget about them.

[Kforce]

I feel the answer to your original question is  (~20 points.)

Even if not concerned about 20 points score loss:

I agree with the majority of the post that it is smart

to get at least two cards. (A Visa & MC)

I have 3 places that I frequent that will not take a "Master Card"

and many years ago 1 place that would not take a "Visa".

More that don't take "AE", and only 1 that won't take "Discover"

Over the years quite a few have been locked for fraud.

A short time problem, however having a backup in

wallet makes it a non issue.