AZEO CONFUSION

[Anonymous]

Update: I entered my information but was declined. Earlier this month I applied and was approved for the secured Discover It. Had I known I would've instead attempted non-secured.

Nonetheless, thank you.

[FireMedic1]

Well the newest secured is US Bank which graduates.

https://ficoforums.myfico.com/t5/Credit-Cards/New-US-Bank-Cash-and-Altitude-Go-Secured-CCs/td-p/6422... 

[Anonymous]

My goal is graduate(all non secured cards) the new Discover It (secured)and Quicksilver cards is (non secured) so the US Bank secured would be the third card to implement AZEO strategy.. with option to graduate?! 

This girl has fingers and toes crossed. Application Submitted.

Thank You

[SouthJamaica]

---

@Anonymous wrote:

Hello all,

How can I implement AZEO on 2 new cards considering the balance details below.

I currently only have 2 credit cards that I was approved for and received this week. Quicksilver non secured,  and Discover it recently.

Statement dates October, due dates November.

I paid $37 of $39 membership fee on QS card leaving a $2 balance to report statement close date. (Will the .67 utilization count as 0%?)

The discover card has $9 balance of $200 secured card limit scheduled to report next week.

Quicksilver statement date has come and gone reporting $2 bal.

Should I pay the Discover card $9 balance back down to $0?

Or should I leave both card balances as is for statement reporting, and then pay before due date.

Any suggestions would be greatly appreciated.

---

You should have one card report a zero balance (i.e. pay it off before the statement cuts) and have the other report a balance of $20 or so before you pay it off.

[Anonymous]

Got a little too excited and responded with a blank message. 

Thank you for the detailed strategy.

Much Appreciated!!

[Anonymous]

PIF your discover card. There's no point of leaving a balance on it.

By the way, I believe you will need a third card to average out your balance for AZEO.  I am not certain about the minimum number of cards needed, so maybe someone else can clarify this "unofficial" requirement. 

[Anonymous]

Thank you, will do! Firemedic shared the 33% utilization for 3 cards strategy for AZEO so many thanks to all.

[Anonymous]

Hello just following up,

I'm hesitant to remove the freeze and apply for the US Bank secured card.

I was informed that if I open a 3rd credit card with a low credit limit ($200 secured Discover It, $300 Quicksilver) it will not help my help my score 😟and I should wait 3-4 months to save up for a $3000 secured card.

I can pay $1000 for a secured card in December but my initially my goal was to have the 3 cards ASAP to implement AZEO.

Any advice, would be greatly appreciated.

[OmarGB9]

---

@Anonymous wrote:

Hello just following up,

I'm hesitant to remove the freeze and apply for the US Bank secured card.

I was informed that if I open a 3rd credit card with a low credit limit ($200 secured Discover It, $300 Quicksilver) it will not help my help my score 😟and I should wait 3-4 months to save up for a $3000 secured card.

I can pay $1000 for a secured card in December but my initially my goal was to have the 3 cards ASAP to implement AZEO.

Any advice, would be greatly appreciated.

---

You were informed it wouldn't help by whom?

In order to best implement AZEO, you *must* have a minimum of 3 open revolving accounts (credit cards).

[Anonymous]

Thank you for your reply.

A conversation was had with a tax professional. 

My goal is to be approved in the future for better cards with higher limits (have and not need situation) but I was hesitant about using an inquiry if the $300 secured with US bank would be considered laughable to future lenders considering all my limits are low.

So far 0 inquiries Transunion, 2 Experian(Oct 2021), 1 inquiry Equifax (expire 12/21).