So, I finally managed AZEO. I have 3 revolving credit cards (no AU or charge cards) and aggregate util is always around 1-2% with individual util less than 8%.
While implementing AZEO, I watched my scores as I went from two to three cards reporting, back to two cards reporting, and, finally, to one card reporting a balance of $5.
FICO 8 Results (all bureaus):
- 2 to 3 cards reporting: +/- 0
- 3 to 2 cards reporting: +/- 0
- 2 to 1 card reporting: +/- 0
My scores have been stable for the past few months and did not budge with AZEO.
However, AZEO did increase my EX Mortgage / FICO Score 2 (+10) - I do not have access to TU / EQ mortage scores. Too bad that doesn't matter to me as I'm not currently seeking a mortgage.
So, since this method has no affect on my standard FICO profile, I'll just let my cards report normally as I maintain low util. I know I lose points when aggregate meets or exceeds 8.9% and / or individual meets or exceeds 28.9%.
It would have been nice to squeeze out a few extra points tho - eventhough I'm not so sure I would have been willing to maintain AZEO every month to keep them; it just would have been nice to know I had a quick method of increasing my score if necessary. Oh well...
Sorry to hear your results were disappointing, but your sharing is quite an important contribution.
So many of the comments about AZEO are over-selling the benefits. Newbies hear the word “maximize” and assume it is going to cure all their problems.
AZEO is really just the final representation of your low utilization; you already got the points from low utilization.
From your score levels I am guessing you have a baddie or two. That puts the ceiling on your scores and the scores will rise with time, and continued on-time payments, same as all profiles.
Thanks for sharing and good luck in your journey.
So many of the comments about AZEO are over-selling the benefits. Newbies hear the word “maximize” and assume it is going to cure all their problems.
AZEO is really just the final representation of your low utilization; you already got the points from low utilization.
From your score levels I am guessing you have a baddie or two. That puts the ceiling on your scores and the scores will rise with time, and continued on-time payments, same as all profiles.
Thanks for sharing and good luck in your journey.
Well going from nothing repotting a balance to one reporting a balance is a different issue.
Going from high ( over 50% utilization) to lower utilization is just getting points for lower utilization. Taking the last step to AZEO is not where those points were earned.
Going from high ( over 50% utilization) to lower utilization is just getting points for lower utilization. Taking the last step to AZEO is not where those points were earned.
@NRB525wrote:
Sorry to hear your results were disappointing, but your sharing is quite an important contribution.
So many of the comments about AZEO are over-selling the benefits. Newbies hear the word “maximize” and assume it is going to cure all their problems.
AZEO is really just the final representation of your low utilization; you already got the points from low utilization.
From your score levels I am guessing you have a baddie or two. That puts the ceiling on your scores and the scores will rise with time, and continued on-time payments, same as all profiles.
Thanks for sharing and good luck in your journey.
Yes, I have a single derogatory - a 4.8 year old paid charge-off. Aside from the single derog., I also have a very short revolving credit history. My oldest account is 5.1 years old and it's a student loan. My 3 CCs are each only 5 months old - so I'm still being penalized for new credit (which is why I'm gardening till, at least, Jan 2019), but even with that, my scores are above 740+. I am aware that, at this point, only time (or the magical removal of that ugly charge-off) will improve my scores.
This was more of a test run for me to see (1) how my scores respond to number of cards reporting; and (2) if AZEO would positively impact my scores as it has for some others. As I said, I doubt I'd be willing to maintain it on a monthly basis in order to keep whatever point boost received; I just wanted to know if it was a method that would come in handy for me to use in a pre-app crunch. I agree that it is a not an ideal credit management tool and never viewed it as such. Actually, I believe allowing your cards to report responsible use reflects better upon manual review - so I'm kinda happy I don't get penalized for letting all 3 report a balance because I'm generally not a heavy credit user so can get away with simply paying my full balance due before the due date. Rarely do I need to paydown before the statement cuts to control reported util.
Anyways, no harm, no foul. And AZEO does seem to enhance mortgage scores so there's that...
Thanks for reading, responding, your sympathy, and good wishes!!
@Anonymouswrote:
@Anonymouswrote:
@NRB525So many of the comments about AZEO are over-selling the benefits.I agree completely. In the thread that I started 1-2 months back discussing the benefit of 3 cards (with AZEO) in place verses just 1 card, reported gains ranged from 4-12 points, with the average being about 8 points. I think the perceived gain when people are using words like "maximize" as you stated above is much greater than that. It really isn't a dramatic difference.
You also make a very good point about dirty verses clean files. When my file was dirty, like the OP, I could allow 25%, 50%, 75% or 100% of my cards report balances and my score wouldn't budge. The only time it changed was when all cards reported $0. While AZEO may help a bit on a clean file, I'm not sure the minor benefits are really there with a dirty file.
It varies from profile to profile how many Points one can get. For most it’s in the 10 to 20 point range when going from $0 on all to one showing a small balance. Dirty or clean file there is benefits. But, going from above 50% or 80% usage and higher it’s a huge improvement. Like 50 to 75 points. It all depends on where one started. The thinner the file the higher the points are generally. One who has a thick file is on the lower end for most. There is always exceptions because no one knows exactly how the formulas work. And things unknown can offset gains in some profiles. There are people who oversell the benefits. And if someone isn’t applying for anything there is no need to do AZERO at every month. Just before one applies for something.
I agree, but utilization reduction wasn't an issue nor the purpose of implementing AZEO in my case. I just wanted to try it to see if it would positively affect my profile. I'm gardening, so I have nothing better to do but see how my scores respond to various, isolated factors. Now I know for sure that it doesn't matter, for me, how many of cards report a balance - though a prior experiment proved my profile to be very sensitive to utilization.
As for thin vs. thick file -- I'm not sure how mine would be categorized. I have 14 accounts consisting of 11 student loans and 3 CCs (15 total accounts if you count the paid charge-off). My AAoA is 2.8 years and my oldest account is 5.1 years. My revolving credit history is lacking / thin, as all 3 CCs are only 5 months old.
@Hexwrote:
I always do AZEO but I need need to report close to 1% or I lose points. If I reported $318 last month and lost 10 points on Equifax. I let a second card report $200 and got the 10 points back. I think reporting only $5 would tank my scores. I have $61K in available credit.
Yesss. Glad you brought up utilization with respect to AZEO as that will be part 2 of my little experiment.
AZEO with only $5 reporting dropped my percent of utilization from 1% to 0% -- it did not round up to 1% as others have claimed usually happens. Is it possible the reporting of 0% prevented the potential point increase from AZEO; perhaps it didn't hurt because a balance still reported, but didn't help at all?? I don't know, but I'll find out in a few days. The card that reported $5 (from February) will report ~$380 sometime early next week (with the other 2 cards still at $0) so utilization will increase back to 1% . Barring any other unforseen changes to my credit report between now and then, I'll see if the utilization factor changes the AZEO outcome.