AZEO and ... nuthin'

[HeavenOhio]

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wrote:

The full acronym isn't AZEO actually, it's AZEOTOTNOCMOBIOTNASC.  It's just too freaking long to type!

(All Zero Except One Third Of Total Number Of Cards Minus One But If One Then Not A Store Card).

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ABCD, you missed AUs, super-high limits, and Chase cards.

[Anonymous]

Wasn't sure if I could mention the real acronym outside the super secret hidden subgroup here!

[Anonymous]

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wrote:

Wasn't sure if I could mention the real acronym outside the super secret hidden subgroup here!

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I thought it was some sorta super-duper super-secret super-cool algorythm or something.

[Anonymous]

It's also worth noting that while the OP didn't receive an AZEO score boost, those that do receive a score boost from going from 34%-50% of cards with balances to AZEO often only report a single-digit increase in points.  In short, the boost IMO isn't as significant as many would think it is.  I'm speaking on FICO 08 here BTW, not the mortgage models which could see a greater score gain.

[expatCanuck]

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@Anonymous wrote:

It's also worth noting that while the OP didn't receive an AZEO score boost, those that do receive a score boost from going from 34%-50% of cards with balances to AZEO often only report a single-digit increase in points.  In short, the boost IMO isn't as significant as many would think it is.  I'm speaking on FICO 08 here BTW, not the mortgage models which could see a greater score gain.

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Well, EX and TU haven't registered the change yet, so I've noted the various score flavors.  We'll see what happens when those bureaus report as AZEO... .

[Gardenhand]

HeavenOhio mentioned something about super high limits and Chase cards. Could I ask what the difference between Chase cards and other non store cards are? Also what’s considered super high limits? I have two limits around 35,000 (Amex and Disco).

[Anonymous]

‘F’ it. Go shopping. Lol

[Anonymous]

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HeavenOhio mentioned something about super high limits and Chase cards. Could I ask what the difference between Chase cards and other non store cards are? Also what’s considered super high limits? I have two limits around 35,000 (Amex and Disco).

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By Chase cards, I think he's referring to the fact that Chase will report $0 to the bureaus off-cycle if you pay it off, so if inplementing AZEO and using a Chase card you can't completely pay the card off or you'll be at "AZ" instead of AZEO.  As far as super high limits, nothing to worry about at $35k.  Even $50k I believe has been verified to be fine.  Limits above that, $60k+ etc. I'm not sure about and it may depend on scoring model, but a super high limit can be completely ignored by the algorithm... so if you use one as your AZEO card again you may be seen as AZ instead of AZEO.

[Anonymous]

Nice response by BBS.

At least one of the mortgage models ignores revolving tradelines with a CL of 35k or higher (though 34.9k is supposed to be fine), so AZEO as in prep for a home purchase should use a lower limit card for the positive balance,

FICO 8 has been tested to be safe through 51k, and a recent commenter confirmed that FICO 8 does indeed ignore cards once they get in the vicinity of 60k or so.  (I can't remember exactly what his CLs were -- might have been 70k.  But he had seen the All Zero penalty when his only positive balance was on one of his monster tradelines.)

[HeavenOhio]

If you need or want to have a Chase card coninuously report a non-zero balance, it's certainly possible to pull that off without paying interest. To do that, you'd need to have a new charge post before paying your statement balance in full. Generally, it's easier to choose a non-Chase card to report the positive balance. That way, you can let Chase's mid-cycle zero reporting work in your favor rather than trying to work around it.