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Change CC due dates for ease of AZEO?

Valued Contributor

Change CC due dates for ease of AZEO?

I'm wondering if anyone has changed their CC due dates to make paying them easier and less cumbersome especially when you want to have an AZEO reporting situation?

 

My wife and I each have 10 CCs so that is 20 CCs and due dates for me to keep track of. All the accounts are set up to autopay the minimum monthly payment so the risk of a late payment is eliminated. If however, I want to AZEO, I practically need a spreadsheet to manage due dates to make sure that accounts that I want to report $0 are actually paid to $0 before the due date and need to check due dates throughout the month.

 

I was thinking of having the due dates on one-half of of each of our cards have the due dates changed to the 8th of the month and one-half of each of our cards changed to the 22nd of the month. This would make it so that I would only have to check and pay the CC accounts twice a month and have 2 weeks in between due dates.

 

This would also solve a problem that we currently have with some monthly charges appearing on the 1st of the month and the CCs that they are charged to having due dates on the 3rd through 5th of the month. I have to make sure that I check those accounts and pay them on the 2nd of the month or else they could report a balance when I don't want them to.

 

Thoughts?

 

Anybody else do this? How is it working out for you?


Starting Score: EQ 653 6/21/12
Current Score: EQ 767 5/22/18 - EX 763 5/22/18 - TU 782 5/22/18
Message 1 of 24
23 REPLIES
Established Contributor

Re: Change CC due dates for ease of AZEO?

It helped me, I only have about 1/2 the cards you do. I didn't bother with any store cards I occasionally use (like since October). I'm mostly concerned with my 2 go to cards. I have it set that more when statement cuts, as we know that can be about 4 days after a due date. I pay immediately when statement cuts and also enrolled in auto pay. But my statement dates that are the balances that report to bureaus on my 2 go to cards are the 2nd and 14th. From the time I pay by due date until statement cut, I switch off and use the other card and vice versa. 

Starting Score: 2/23/2017 Score 8 EQ 651 TU 659 EX 679
Current Score:05/07/2018 Score 8 EQ 783 TU 812 EX 791
Mortgage Scores 04/23/2018 EQ 785 TU 780 EX 778
Goal Score: 760+ ATB FICO 8-Achieved 4/2018, Middle Mortgage Score 760-Achieved 2/2018
Message 2 of 24
Established Contributor

Re: Change CC due dates for ease of AZEO?

Forgot to add, some take 2 statement periods before it goes in effect. So be vigilant if you are going AZEO that a balance doesn't get caught in between. 

Starting Score: 2/23/2017 Score 8 EQ 651 TU 659 EX 679
Current Score:05/07/2018 Score 8 EQ 783 TU 812 EX 791
Mortgage Scores 04/23/2018 EQ 785 TU 780 EX 778
Goal Score: 760+ ATB FICO 8-Achieved 4/2018, Middle Mortgage Score 760-Achieved 2/2018
Message 3 of 24
Regular Contributor

Re: Change CC due dates for ease of AZEO?

OP,

 

This is exactly what I did to make it easier!!

 

I actually adjust my "payment due date" to try and make the statement dates reflect the calendar month, ie. my statements are from the 1st-31st. Therefore for AZEO, I PIF at the end of the month, around the 28th or 29th.

 

If I am not caring about AZEO, than I know to just make a payment (or PIF) the first week of the next month, since I know my due date is roughly around the 20th-23rd. If funds are not an issue for you every month, I find it easier to make everything due at the same time, therefore pay at the same time.

 

Exception:

 

As others have noted, some card(s) will report your balance several days AFTER your statement closes, such as my Vantage Connect Rewards Plus VISA.

   EQ=810       TU=806       EX=802    INQ=1/3/4   UTIL~1%    AAoA=4yr      AZEO         2.5% VA
Message 4 of 24
Valued Contributor

Re: Change CC due dates for ease of AZEO?


@OmarRwrote:

OP,

 

This is exactly what I did to make it easier!!

 

I actually adjust my "payment due date" to try and make the statement dates reflect the calendar month, ie. my statements are from the 1st-31st. Therefore for AZEO, I PIF at the end of the month, around the 28th or 29th.

 

If I am not caring about AZEO, than I know to just make a payment (or PIF) the first week of the next month, since I know my due date is roughly around the 20th-23rd. If funds are not an issue for you every month, I find it easier to make everything due at the same time, therefore pay at the same time.

 

Exception:

 

As others have noted, some card(s) will report your balance several days AFTER your statement closes, such as my Vantage Connect Rewards Plus VISA.


Yeah, I'm thinking that it will be much easier to have just 2 payment dates a month separated by about 2 weeks. This way we can use one set of cards for 2 weeks and another set of cards for the other two weeks. We run all of our spend through our cards to maximize our cash back if we can and with the way our dates are setup now it is impossible to know which card to use. Sometimes we will charge something the day before or on the due date and have it report when we really didn't want it to report.

 

This way the cards that have a due date the 8th of the month, we can use the last 2 weeks of the month. The cards that have a due date of the 22nd of the month, we can use the first 2 weeks of the month. By each due date all charges should have cleared without some pending charges hanging on and I can pay them off before the due date.


Starting Score: EQ 653 6/21/12
Current Score: EQ 767 5/22/18 - EX 763 5/22/18 - TU 782 5/22/18
Message 5 of 24
Community Leader
Super Contributor

Re: Change CC due dates for ease of AZEO?

Hey Jamie... quick question.  How many open installment accounts do you have?

Message 6 of 24
Valued Contributor

Re: Change CC due dates for ease of AZEO?

It's always a good practice to "synchronize" CC accounts regardless of AZEO, it should be the first thing you do once your new CC account is activated, all my account statements cut between 27th to 29th of every month, it simply makes managing much easier in many ways.
Message 7 of 24
Valued Contributor

Re: Change CC due dates for ease of AZEO?


@CreditGuyInDixiewrote:

Hey Jamie... quick question.  How many open installment accounts do you have?


I have 1 mortgage and 1 auto loan open.

I also have 2 closed SSLs.


Starting Score: EQ 653 6/21/12
Current Score: EQ 767 5/22/18 - EX 763 5/22/18 - TU 782 5/22/18
Message 8 of 24
Community Leader
Super Contributor

Re: Change CC due dates for ease of AZEO?

That's really close to what I am looking for.  (Perfect would be 15+ cards, exactly one open loan, a credit history of 3+ years and clean profile.)

 

People have been wondering lately whether AZEO (All Zero Except One) gives any help for FICO 8.  The problem is that often the person who thinks it doesn't has (after you probe a little) many open installment accounts and few cards.  A recent example was a guy with a dirty profile, 11 open loans, and three cards.  He went from AZEO to all cards reporting a balance with no FICO 8 help -- but he was still going from 12 out of 14 accounts showing a balance to 14 out of 14, so his experiment is a bit of a dirty test tube.

 

What I'd like to do is get at least four different people to run the experiment, which is to go from exactly one card showing a balance to all cards -- but for all four people to have many cards and exactly one loan.  E.g. one loan and a dozen cards.  That way we'll have the person going from 2 out of 13 accounts showing a balance to 13 out of 13.  That will be both many accounts (13 considered as a raw integer number) as well as 100% of open accounts (considered as a percentage)

 

Your profile is pretty close to that, though you are still starting with at best three accounts showing a balance, and if the raw integer number is one of the things FICO considers then that's not perfect for the test: two would be better.

Message 9 of 24
Valued Contributor

Re: Change CC due dates for ease of AZEO?

I have one 15 year old mortgage and 8 active revolvers (100% clean file EX781 TU806 EQ792), I have been playing around with AZEO the last 8+ months and I'm one of those who did not see the benefit of AZEO but I did see a 16 point drop when I zero out every account. To verify my results I've been backing out of AZEO one account at a time, for the latest cycle I'm backed out to 3 accounts reporting and the score has not changed from 1 or 2 accounts reporting in the previous cycles. Unfortunately I have run out of testing time as all of my inquiries and new accounts (7) are due to reach the 1 year mark between end of March and beginning of June, I might be able to squeeze in another round (first inquiry on 3/28/17) but after that, I'm going back to letting charges post to statements and autopay on due day on every account.
Message 10 of 24