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Azeo

New Member

Azeo

Good evening. Have a quick question regarding Azeo and CC's.

I have 4 revolving accts.

ExxonMobil-200CL-$0 balance
DiscoverIt Secured-400CL-$14.04 balance
CapitalOne Secured-200CL-0 balance (Approved 5/9, have not received card yet)
Sears Card-2000CL-$1573.xx balance (paying in full 5/17)

Question is, in regards to maxing out credit score, would the exxon and sears count towards azeo, or would those be considered store cards? If so, should I apply for another CC to make three?

Thanks in advace!!
Message 1 of 14
13 REPLIES
Established Contributor

Re: Azeo


@KirkLazarus wrote:
Good evening. Have a quick question regarding Azeo and CC's.

I have 4 revolving accts.

ExxonMobil-200CL-$0 balance
DiscoverIt Secured-400CL-$14.04 balance
CapitalOne Secured-200CL-0 balance (Approved 5/9, have not received card yet)
Sears Card-2000CL-$1573.xx balance (paying in full 5/17)

Question is, in regards to maxing out credit score, would the exxon and sears count towards azeo, or would those be considered store cards? If so, should I apply for another CC to make three?

Thanks in advace!!

Yes, they will count towards azeo, albeit they are store cards, they are still revolving credit. Having the bank card report the low utilization balance is just better than a store card. 

Starting Score: 2/23/2017 Score 8 EQ 651 TU 659 EX 679
Current Score:09/23/2018 Score 8 EQ 809 TU 828 EX 810
Mortgage Scores 09/23/2018 EQ 775 TU 787 EX 783
Goal Score: 760+ ATB FICO 8-Achieved 4/2018, Middle Mortgage Score 782-Achieved 760+ 2/2018
Message 2 of 14
New Member

Re: Azeo

Good to hear. Thank you very much for your reply.
Message 3 of 14
New Member

Re: Azeo

Forgot to ask this question in original post.

The Sears store card, ($2k limit), paying in full 5/17, was closed by grantor last summer due to inactivity. So I'm PIF this week after making minimum payments since then.

Are they going to automatically "close" this account after PIF, and it won't be considered for revolving utilization in the future?
Message 4 of 14
Established Contributor

Re: Azeo

If the creditor closed it last summer, the account is fully closed. That would have been hurting your credit since closure, since it was running over 100% utilization alone. Glad you are paying it in full. It will help your scores a great deal. 

 

 

 

 

 

Starting Score: 2/23/2017 Score 8 EQ 651 TU 659 EX 679
Current Score:09/23/2018 Score 8 EQ 809 TU 828 EX 810
Mortgage Scores 09/23/2018 EQ 775 TU 787 EX 783
Goal Score: 760+ ATB FICO 8-Achieved 4/2018, Middle Mortgage Score 782-Achieved 760+ 2/2018
Message 5 of 14
Community Leader
Senior Contributor

Re: Azeo

@KirkLazarus, all of your current cards will count toward AZEO for utilization purposes. But it's best to leave the small balance on one of your major cards rather than a retail card. What you're doing right now is perfect.

Message 6 of 14
New Member

Re: Azeo

Thanks for your help. I pif the Sears card on 5/17. Here's my updated balances.

 

ExxonMobil-$0.00/200cl

Discover-$14.04/400cl

Sears-$0.00/2000cl

CapitaOne-$0.00/200cl

 

As stated before, the sears card was closed by grantor last June due to inactivity. Glad to finally have it paid off, not to worry about it anymore. We'll see how they report it due to it being CBG and paid off. I'm sure the credit utilization will take a hit.

Thanks for all the advice! Would love to see a fico score jump, but not giving my hopes up. 

 

 

Message 7 of 14
Super Contributor

Re: Azeo


@KirkLazarus wrote:
Good evening. Have a quick question regarding Azeo and CC's.

I have 4 revolving accts.

ExxonMobil-200CL-$0 balance
DiscoverIt Secured-400CL-$14.04 balance
CapitalOne Secured-200CL-0 balance (Approved 5/9, have not received card yet)
Sears Card-2000CL-$1573.xx balance (paying in full 5/17)

Question is, in regards to maxing out credit score, would the exxon and sears count towards azeo, or would those be considered store cards? If so, should I apply for another CC to make three?

Thanks in advace!!

Yes they count.

 

No you shouldn't apply for another card.


FICO8 EQ 755 TU 777 EX 752 Total revolving limits 643900 (533900 reporting)
Message 8 of 14
Super Contributor

Re: Azeo


@KirkLazarus wrote:
Forgot to ask this question in original post.

The Sears store card, ($2k limit), paying in full 5/17, was closed by grantor last summer due to inactivity. So I'm PIF this week after making minimum payments since then.

Are they going to automatically "close" this account after PIF, and it won't be considered for revolving utilization in the future?

It's already closed.

 

Yes it will not be considered for utilization.


FICO8 EQ 755 TU 777 EX 752 Total revolving limits 643900 (533900 reporting)
Message 9 of 14
Super Contributor

Re: Azeo

OP, what were your FICO scores pre-5/17/18 when you paid off your maxed out card?

 

In going from an individual card that's maxed out to an individual card (AZEO) witha tiny balance, you'd stand to probably gain 20-25 points on your scores just from the individual card highest balance changed dramaticaly.  It also appears that you may have taken your aggregate utilization from maxed out to ideal.  If that's the case, you could stand to see an improvement of 80-100 points.  Please report back!

Message 10 of 14