AZEO and Small Number of Accts

[Anonymous]

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@Brian_Earl_SpilnerIn my opinion, AZEO is a waste of time unless youre planning to apply for credit because the only time your score matters is when you're applying for something.

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That's simply not true.  Your own lenders for example are always assessing your account and many use a FICO score as a tool to aid in this.  If you're at AZEO, you're giving them the best score they can see [relative to not being at AZEO].  The question then is when may it matter?

Certainly if someone has an 800+ score, their lender isn't going to have a care in the world if their score drops 15-20 points.  Where it could matter is for someone with an on the cusp type score... say, 660.  If I'm straddling the line between a decent and not not so good credit score, those points are going to be a lot more meaningful to me and could influence how my lender sees my profile.

[Anonymous]

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@AnonymousFor example, if someone only has 3 cards, and they AZEO, that would mean 66% of cards have no balance. If someone does AZEO and has 10 cards they have 90% of cards at zero...

Second part of the question: if someone has less than 5 accounts and has AZEO, are there any DPs to suggest using AZEO may not be as effective? Reason I ask is when I had only 3 active cards and did AZEO, my scores did not increase even though util dropped too on 2 bureaus, and, went up drastically on another.

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From what I've seen both with my own profile and from reading on this forum, number of cards with balances isn't nearly as important as is thought to be the case by many.  Often people see little or even no score change when moving from AZEO to multiple or even all cards with balances.  I would say the change here is insignificant far more often than it is significant. 

[Brian_Earl_Spilner]

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@Anonymous wrote:

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@Brian_Earl_SpilnerIn my opinion, AZEO is a waste of time unless youre planning to apply for credit because the only time your score matters is when you're applying for something.

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That's simply not true.  Your own lenders for example are always assessing your account and many use a FICO score as a tool to aid in this.  If you're at AZEO, you're giving them the best score they can see [relative to not being at AZEO].  The question then is when may it matter?

Certainly if someone has an 800+ score, their lender isn't going to have a care in the world if their score drops 15-20 points.  Where it could matter is for someone with an on the cusp type score... say, 660.  If I'm straddling the line between a decent and not not so good credit score, those points are going to be a lot more meaningful to me and could influence how my lender sees my profile.

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while that may be true, what benefit would you get, an auto CLI? I have yet to see a lender auto decrease an apr based on a review unless it was for promotional purposes. You have to initiate something like that. Maybe it would be beneficial if you have a creditor like Barclay or sync who gets spooked easily and might AA on an AR, but other than that, how would it help you with a creditor on a sp AR?

[Anonymous]

I have barely seen 3-5 point variation on TU while Ex and Eq barely moved going from AZEO, AZE2, AZE3...to 7 out of 8 reporting currently. I understand it's YMMV but I just don't see 15-20 points happening. I agree that AZEO is a waste of time, effort and money unless your score is boarder line and can use a few points boost, but only before applying for new credit.

[Anonymous]

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@Brian_Earl_Spilner

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while that may be true, what benefit would you get, an auto CLI? I have yet to see a lender auto decrease an apr based on a review unless it was for promotional purposes. You have to initiate something like that. Maybe it would be beneficial if you have a creditor like Barclay or sync who gets spooked easily and might AA on an AR, but other than that, how would it help you with a creditor on a sp AR?

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The benefit could be anything related to a stronger profile.  An auto CLI?  Sure.  Perhaps a more favorable (stronger) CLI.  You brought up promos and that's a perfect example, as different promos can be targeted to different profiles.  Stronger profile could mean stronger targeted offer.  For someone at risk of a CLD, a stronger profile/score can reduce that risk.  Again, this is all profile-specific.  If we're talking someone with a 660 score that's at AZEO, it by definition means they have negative items on their CR.  If there were no negative items and they were at ideal (AZEO) utilization, their scores would be in the mid 700's easy.  That being said, any profile that has negative items present is going to be more volatile and suseptable to things like a MR, AA, etc. so it wouldn't be a bad idea to roll with AZEO in place just to make the best of a not so great look.  Anyway, my point here is that AZEO isn't always going to only be important for someone that's considering applying for credit.

[Anonymous]

BBS, I'm not sure a profile that looks like someone who barely uses any credit is a stronger profile than someone who uses credit, and responsibly via PIF by due date, across several cards, even if the first profile is a few points higher.

I think a AZEO profile is only good for tricking computers, anything that goes to manual review involving human, which includes possible CLD reviews, it becomes a bust.

[arkane]

Yeah since I discovered the difference between AZEO and 3/4 reporting on my profile is a whooping ONE point on EQ and TU, I've stopped AZEOing as it just takes way too much micromanagement. Plus you're completely missing out on a potentially 50+ day interest free loan.

[Anonymous]

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@arkane wrote:

Yeah since I discovered the difference between AZEO and 3/4 reporting on my profile is a whooping ONE point on EQ and TU, I've stopped AZEOing as it just takes way too much micromanagement, and really kind of defeats the float nature of credit cards.

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Same here, I no longer make any early payments, all charges on every card posts to statements, all cards are setup to autopay full statement balance on due date by a checking account that pays 4% APY. Credit management couldn't be any easier and more rewarding at the same time.

[Anonymous]

Nope you are correct, but the convo was deleted by mods. Sent the audio of the convo RE credit manipulation to the mods to substantiate the post but have not received response. Am undecided if I will simply make a new post about ***** edited by user.

[Anonymous]

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@Anonymous wrote:

Nope you are correct, but the convo was deleted by mods. Sent the audio of the convo RE credit manipulation to the mods to substantiate the post but have not received response. Am undecided if I will simply make a new post about Penfed.

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That you should not do, instead you should PM one of the mods and ask if an update is available.