Azeo method

[Anonymous]

I have only 1 LOC in my name. It is coded as an overdraft LOC on my report. Does this count in the AZEO method?

Also all of my other cards, bank and store cards, are with my husband. Do those count?

One more question....if I have a bk and late payments is there even a chance this will help me get my Transunion and Equifax mortgage scores up?

[UncleB]

Hi @Anonymous, I've removed your three duplicate threads.  Please avoid cross-posting in the future; it's confusing to follow and is against our guidelines here.

--UncleB

myFICO Moderator

[HeavenOhio]

@Anonymous, is there a reason why you're not concerned about your Experian mortgage score?

AU accounts and LOCs appearing on your credit report generally count toward your limits when utilization is computed. However, for best AZEO results, a small balance should be left on a major card where one is the primary user, with the rest of the accounts reporting zero. Given that you don't have any cards of your own, I'd guess the balance should be left on an AU card as it wouldn't make sense to overdraft your checking account simply to show a balance. I'd like to see someone else chime in on this.

Are there late payments on the cards on which you're an AU? If so, I wonder if it'd make sense to remove yourself as an AU on those cards and try to get them removed from your reports. Then again, maybe it won't matter with the bankruptcy. Again, I'd like to hear from someone else on this.

[Anonymous]

@heavenohio my experian mortgage score is my highest at 671. My Equifax and transunion are the bottom ones EQ at 625 and TU at 598. I need to get one of them to 640. I would be concentrating on Equifax but 3 of my AU cards are citi cards and for some reason they won't report to equifax. I've called them multiple times in the last 6 months and it's pretty much a too bad.
EQ has
0/250 LOC
0/9500k AU Chase with husband
500/10k AU Amex with husband
0/20k AU Discover

I had a small 5 point increase with EQ when I moved a 4k balance from Chase to Citi but Idk if that is from azeo or getting that balance under 30%. Equifax is also showing the least amount of derogatory marks. 4 collections compared to 10 on Transunion. I did a pay for delete on 2 of those collections but they haven't updated yet. Only one of those reports to transunion also. The other 2 won't. One is with portfolio recovery so I am guessing that one will.

What TU is showing:

0/250 LOC
0/9500 AU Chase
500/10k AU Amex
0/20K AU Discover
600/8k AU best buy
0/12500 AU Citi
0/3k AU Goodyear
0/4k AU target

Citi will be updating on the 7th. I plan to pay at least 1k to that to get it under 29%. The others have balances that I will be paying before the next statement cut.

The LOC is something I can advance cash from to show a balance but I don't know if I can come up with the cash to pay citi down to 0. I was also afraid as since it is my only line in my name it would count more negatively to have that one posting a balance on it.

[Anonymous]

It looks to me like there may be a disconnect between what your Citi balance actually is and how it reads in your list of cards with balances.  The list is given like this:

0/250 LOC
0/9500 AU Chase
500/10k AU Amex
0/20K AU Discover
600/8k AU best buy
0/12500 AU Citi
0/3k AU Goodyear
0/4k AU target

But you then write:

Citi will be updating on the 7th. I plan to pay at least 1k to that to get it under 29%. The others have balances that I will be paying before the next statement cut.

It sounds like Citi is not at 0 (well over 30%) and perhaps a number of others also have balances.

Hard to know what to recommend without a better idea of how your reports actually read. 

The bottom line is that AZEO certainly could not hurt, may help, and having an AU card report the positive balance is probably fine -- since we are talking about the mortgage models and not FICO 8.

[Anonymous]

I did a balance transfer of 4k from chase to citi. citi closes on the 7th so it hasnt updated yet with the 4k. I plan to pay 1k to it before it closes so that it reports with less than 29%

I will give it a try. Hopefully I can squeeze a few points out of it.