@Mland-EC wrote:I have tried to keep AZEO, it seems for a few of my cards it is impossible to do.
These cards will not allow me to pay more than balance, yet charge me the years fee monthly and will not let me pay the yearly fee in one payment so no matter what I do I have aproximately a 6 dollar balance or 10 balance and even an 80 balance on at least three cards.
Does it really matter for the best score if I have 135K of avaiable, 14 CC all zero, but one with 80 bucks and two with balances of less than 100.00? It seems unless I change credit cards I will never have AZEO.
It's probably splitting hairs because I am in the low 800's for FICO 8, but I can't get my mortage middle score out of the 760's and all I can think to do to get my Mortage scores higher is try to achieve AZEO.One other point, even with the described balances when one card goes below about 1600.00 I lose near 20 points so for me at least one card must have a balance of at least 1600.00 to obtain my highest score, not sure why that is. In other words my score is 20 point higher with balances of 1600.00, 80.00, 6.00 and 6.00 than the 80.00, 6.00 and 6.00, if that makes sense.
I was trying to get all zero and the one card with a 1600.00 balance, but it's not going to happen unless I get rid of a couple of these cards or force them to let me allow me to pay the fes yearly instead of monthly and so far no luck withthat.
My goal was an 800 for the mortage scores, anyone think it's my low average age of accounts that might be holding me back(5 years) and not the balances I describe?
Try pushing a payment from your main bank using their "billpay" system.
@FishingGuy wrote:Thank you everyone, your answers are precisely what I thought re AZEO vs small balances...... however I was watching a youtube video from someone who has a channel and is well known for giving credit advice ( name not to be mentioned ) and he gave the other and a different opinion.... so I wanted to ask.
All of you....... My Fico members.... are the best !
Don't listen to those YouTubers...they're notorious for spreading misinformation.
@FishingGuy wrote:I usually try to do AZEO whenever possible, and make payments to do so before a bill cuts. I heard somewhere (on-line)... that if you allow the bill to cut, or numerous bills to cut with a small balance, let's say under $10 it is better...... since it shows numerous payments due & then made.
Does anyone know if there is any validity to that? ... and if so, if I have no intention to applying for any new credit in the near (6 month ) future am I better off doing that rather than AZEO ? ..... and would there be any difference in credit scores, short term or long term?
No there is no validity to that. It definitely won't help you.
It might hurt you considerably in your mortgage scores. It might not hurt you at all in the FICO 8's.
@OmarGB9 wrote:
@Mland-EC wrote:I have tried to keep AZEO, it seems for a few of my cards it is impossible to do.
These cards will not allow me to pay more than balance, yet charge me the years fee monthly and will not let me pay the yearly fee in one payment so no matter what I do I have aproximately a 6 dollar balance or 10 balance and even an 80 balance on at least three cards.
Does it really matter for the best score if I have 135K of avaiable, 14 CC all zero, but one with 80 bucks and two with balances of less than 100.00? It seems unless I change credit cards I will never have AZEO.
It's probably splitting hairs because I am in the low 800's for FICO 8, but I can't get my mortage middle score out of the 760's and all I can think to do to get my Mortage scores higher is try to achieve AZEO.One other point, even with the described balances when one card goes below about 1600.00 I lose near 20 points so for me at least one card must have a balance of at least 1600.00 to obtain my highest score, not sure why that is. In other words my score is 20 point higher with balances of 1600.00, 80.00, 6.00 and 6.00 than the 80.00, 6.00 and 6.00, if that makes sense.
I was trying to get all zero and the one card with a 1600.00 balance, but it's not going to happen unless I get rid of a couple of these cards or force them to let me allow me to pay the fes yearly instead of monthly and so far no luck withthat.
My goal was an 800 for the mortage scores, anyone think it's my low average age of accounts that might be holding me back(5 years) and not the balances I describe?
Try pushing a payment from your main bank using their "billpay" system.
If you push your payments out to the credit card co from your bank you can certainly move your balance to a positive and get a $0 reporting balance. I do it occasionally if I want a $0 report and I know there will be a late charge coming before the closing date.
As a DP, I was at about $2,000 positive balance on my AMEX at one point when I was deployed because I had an auto pay set up with my bill pay to make sure all charges were covered since I couldn't guarantee being able to access internet. AMEX eventually mailed me a check to get me back to owing them instead.
