AZEO

[UpAndComing74]

I have 2 questions.

My Mortgage FICO dropped from a 701 to 682 and I am preparing for a Conventional Loan at my 4 year discharge date of 01/10/2021. I opened 3 new cards and lost an aged account.  I need to Repull 02/2021

I have 5 Credit Cards with a total of $110 spread across them. I am thinking AZEO can raise Mortgage FICO.

Question 1.  Is AZEO on for revolving loans or does it include installment and Student Loans.

My two Installment loans are paid down 21%.

Question 2. MYFICO says that “High Achievers pay installments down by 40%. Any truth to this? I am able to pay them down if so.

Thanks in Advance!

[BmoreBull]

AZEO only takes into account revolving accounts. Your questions may get more responses and better answers in the understanding FICO forums. 

[UpAndComing74]

I have 2 questions.

My Mortgage FICO dropped from a 701 to 682 and I am preparing for a Conventional Loan at my 4 year discharge date of 01/10/2021. I opened 3 new cards and lost an aged account.  I need to Repull 02/2021

I have 5 Credit Cards with a total of $110 spread across them. I am thinking AZEO can raise Mortgage FICO.

Question 1.  Is AZEO on for revolving loans or does it include installment and Student Loans.

My two Installment loans are paid down 21%.

Question 2. MYFICO says that “High Achievers pay installments down by 40%. Any truth to this? I am able to pay them down if so.

Thanks in Advance!

[Anonymous]

1. AZEO is only for all revolving accounts, so credit cards, lines of credit, store cards, charge cards, etc.. You want to do the one balance reporting card with a big bank card (like Amex/Capital One/etc.) not a store card or credit union card.

2. Installment loans aggregate balance (combined utilization) paid below 9% is the actual ideal target, it gets many more points than just being paid down to even 21% or 10% even. This isn't related to AZEO but is important for the installment utilization scoring.

So for loans for example you'd want like under (900 balance/10000 initial balance) for the best scoring

[AllZero]

@UpAndComing74  AZEO is for revolving accounts. e.g. credit cards. Recommended is using a national bank card. Do not use a charge card or store card.

[UpAndComing74]

Thank you!

so for AZEO.. Is the trick to let it report on my Discover or is it better to have them ALL at Zero??

[Anonymous]

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@UpAndComing74 wrote:

Thank you!

so for AZEO.. Is the trick to let it report on my Discover or is it better to have them ALL at Zero??

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One card with a balance out of all your cards. So Discover card with a balance, and everything else at 0

Oh, and you'd want the utilization on the card to be under 9% of its limit.

[AllZero]

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@UpAndComing74 wrote:

My two Installment loans are paid down 21%.

Question 2. MYFICO says that “High Achievers pay installments down by 40%. Any truth to this? I am able to pay them down if so.

It is my understanding one of the major installment threshold is 8.9% aggregate utilization. Perhaps, try AZEO first on your revolving accounts and see where your scores land before you entertain paying down your installment loans.

[Anonymous]

Yeah 40% is meaningless, as far as we know.

there’s something around 65% and there’s a big one at 9%. That’s all aggregate installment utilization.

[Anonymous]

You really need a year or so to recover from opening those new revolvers.