cancel
Showing results for 
Search instead for 
Did you mean: 

AZEO method credit card vs charge account

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Valued Member

AZEO method credit card vs charge account

When doing the AZEO method, does this apply to only credit cards? i have a mil star and a commenity bank card, on my reports they are listed as charge accounts.

**trying to garden**
MYFICO 8 scores as of 1/5/19 EQ 661 TU 655 EX 659
CARDS
CAP1 QUICKSILVER - 9K
CAP1 QUICKSILVER ONE - 1000 (finally grew, still cant wait to quit you)
DISCOVER IT CASHBACK - 3.1K
MIL STAR - 7.2K
TREK CREDIT CARD - 16.5K
PENFED POWERCASH - 5K (My new daily driver, cuz 2% cashback)
PENFED PLATNIUM REWARDS -5K
NFCU CASH REWARDS - 8.1K
USAA RATE ADVANTAGE - 6K
USAA PREFERRED CASH REWARDS - 6K
Message 1 of 5
4 REPLIES 4
Valued Contributor

Re: AZEO method credit card vs charge account


@miamivicemtb wrote:

When doing the AZEO method, does this apply to only credit cards? i have a mil star and a commenity bank card, on my reports they are listed as charge accounts.


Technically, Comenity cards are not charge accounts because they have credit limits. They are revolving accounts like regular credit cards; they just cannot be used anywhere. Smiley Happy

Image and video hosting by TinyPic
Starting Score: 490
Current Score:EX: 590
Goal Score: 620


Take the myFICO Fitness Challenge




Message 2 of 5
Super Contributor

Re: AZEO method credit card vs charge account

CW is almost certain to be right.

 

But the best way to know for sure is to test it.  Do you have a card which you know for sure is a credit card?  If so, have the true CC and the "charge" card each report a small balance with all other cards at zero.  Then get your scores.  Then pay off the true CC leaving only the "charge" card with the balance.  If your score takes a 15-20 point drop, you'll know that FICO is truly considering the card to be a charge card.

 

Although we are pretty sure we know in advance what the result of that test will be, it's always nice to see the accepted wisdom reconfirmed -- so if you do that test let us know!

Message 3 of 5
Super Contributor

Re: AZEO method credit card vs charge account


@miamivicemtb wrote:

When doing the AZEO method, does this apply to only credit cards? i have a mil star and a commenity bank card, on my reports they are listed as charge accounts.


I had a Comenity store card which for some reason they code as a "charge" account rather than a credit card, and it reported and was scored just like any other credit card.

 

 


Total revolving limits 720500 (594000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 4 of 5
Valued Contributor

Re: AZEO method credit card vs charge account


@SouthJamaica wrote:

@miamivicemtb wrote:

When doing the AZEO method, does this apply to only credit cards? i have a mil star and a commenity bank card, on my reports they are listed as charge accounts.


I had a Comenity store card which for some reason they code as a "charge" account rather than a credit card, and it reported and was scored just like any other credit card.

 

 


Perhaps because it was a revolving account. But I should mention that Comenity does issue co-brand bankcards as well. Smiley WinkSmiley Happy

Image and video hosting by TinyPic
Starting Score: 490
Current Score:EX: 590
Goal Score: 620


Take the myFICO Fitness Challenge




Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.