@Anonymous wrote:I just learned about the Azero method but wish I knew about it a couple weeks ago. I paid down my credits to reflect the following balances below. If I have a 1% utilization on my Capital One card below, will this affect the effects of the Azero method. My Barclay card is about to report a 0% so really I will have half my cards with a zero balance except 2. My aggregate utlization will be 4% vs 8% now once Barclay reports this week. Is there a chance that I will see a bump in score? My FICO 2 is currently at 658 and I need a 660 to qualify.
Amex - balance $464/$5,000 9% utlization
Capital One - balance $23/$3,000 1% utilization
Store Card- balance $0/$950 0% utilization
Barclay Card - $481/$3,150 15% utilization (will update this week to 0%)
Yes there is a chance.
Of course if you got Amex paid to zero your chances would be better.
@Anonymous wrote:@SouthJamaica Do you think there is a chance that I may still see the effect of the AZEO method if one of the cards have a 1% balance and not 0? So one 9%, one 1%, and two at 0%?
AZEO means all zero except one.
All zero except two is good, too, but not as good. Especially in your case, where there aren't a whole lot of cards. The difference between 25% and 50% might make all the difference in getting those points you need. So you should really try to get rid of that Amex balance if possible.
@Anonymous wrote:On the one card with a balance, how much utilization should you keep? Is there a magic number you want to reach, like less than10%?
To me the magic number is 28% or less, but not less than $10. It's possible that 8% would be better than 28%, but I don't know.
