AZEO?

[Pony4her]

Good morning folks - Thoughts of how to achieve the best score with my cards?

Lowes 205/2300

Am Ex 1207/2100

Cap 1 0/750

Cap 1 0/1250

Should I pay off the Lowes and pay down to $100 on my AmEX?  Credit being repulled for mortgage 10/21.  Current score are in the mid 700's

TIA.....

[FireMedic1]

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@Pony4her wrote:

Good morning folks - Thoughts of how to achieve the best score with my cards?

Lowes 205/2300

Am Ex 1207/2100

Cap 1 0/750

Cap 1 0/1250

Should I pay off the Lowes and pay down to $100 on my AmEX?  Credit being repulled for mortgage 10/21.  Current score are in the mid 700's

TIA.....

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Pay off Loews and pay down AMEX to $168 or less. Let AMEX post <8% each month. Then pay before the due date. Repeat it each month. While keeping Loews at $0 each month. Good luck on the house!

[Pony4her]

Awesome, will do; sounds like a plan.  Can you check your private message?  Thank you.

[Anonymous]

You may only have one chance to make these report $0 (or less than 8%) before your 10/21(not sure if this is Oct 2021 or October 21, 2021)  app date without knowing your statement cut dates. I would get your AMEX down to 4-5% (its going to add more $ from interest accrued when the statement cuts on the day it cuts and will report it).  

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[Pony4her]

Thank you for responding.  October 21, 2021 just to clarify.  Report dates (which are the credit reporting/statement close dates) are Lowes 9/20 and Am Ex 9/27.

[Anonymous]

cool,

Lowes to $0 (it may report interest on the cut date if you are accruing interest) and same for the AMEX. I assume the AMEX is a credit not charge (plat/gold/green) card?  Daily interest at 18% is about $1 so interest will be $30~ on top of any remaining balance. 

[Pony4her]

Awesome, thank you guys so much for your input.  I truly appreciate it.

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@Anonymous wrote:

cool,

Lowes to $0 (it may report interest on the cut date if you are accruing interest) and same for the AMEX. I assume the AMEX is a credit not charge (plat/gold/green) card?  Daily interest at 18% is about $1 so interest will be $30~ on top of any remaining balance. 

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[SouthJamaica]

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@Pony4her wrote:

Good morning folks - Thoughts of how to achieve the best score with my cards?

Lowes 205/2300

Am Ex 1207/2100

Cap 1 0/750

Cap 1 0/1250

Should I pay off the Lowes and pay down to $100 on my AmEX?  Credit being repulled for mortgage 10/21.  Current score are in the mid 700's

TIA.....

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Yes that's exactly what you should do 

[Pony4her]

Thank you for responding; sounds good.

[HeavenOhio]

@Pony4her, for the best possible score, 8% utilization probably isn't good enough. I lose points when my AMEX card has a balance of $147 on a limit of 24k.

Leave a tiny balance (at least $5 but not much more) on one of your major cards. Because your AMEX card already has a positive balance, it makes sense to use that one unless you're trying to reset the grace period.

If you need to make interest stop on the AMEX card, you can leave the tiny balance on one of your Capital One cards. Don't use the Lowe's card as your AZEO card. It may work fine, but it also might not. Strange things have been known to happen if one's AZEO card is a store card.