cancel
Showing results for 
Search instead for 
Did you mean: 

My AZEO experiment

tag
tparks5961
Regular Contributor

My AZEO experiment

So, I paid all of my balances down to $0 excpet 1 card.

 

Discover Card $0/$2500.00

Regions Card $0/$2000.00

Capital One $8.00/$300.00

 

I guess my total aggregate Utilization is less than 1%.  To be exact .16% 

 

As a result of paying my balances down that low, my TU Fico score dropped 5 pts from 643 to 638. So to get the full benefit of AZEO, one card has to post a higher balance than what I had.  I'm not sure what % has to be posted.. 

 

Does anyone have any idea? Maybe the sub 1% is reporting as a $0 balance in the scoring algorithm? 

 

Last Inquiry 12/23/2022 Ally Bank Mortgage
Fico Score Progression: 10/1/2018 EQ 530 TU 535 EX 540 | 1/10/2023 EQ 785 TU 789 EX 787
Message 1 of 11
10 REPLIES 10
Anonymous
Not applicable

Re: My AZEO experiment

FICO always round up as long as the reported balance is not $0, the 5 point drop must have come from some other event. How are you monitoring your TU score? What happened to the other 2 CRAs?
Message 2 of 11
Caardvark
Frequent Contributor

Re: My AZEO experiment

What was the "reported" balance of the Capital One card on your credit report? Some lenders will report extremely low balances as $0 which would, in turn, cause a scoring penalty for all balances being at $0.

 

If I recall correctly, it is recommended to have your "Except One" card report a balance >$20 but I will let the AZEO experts chime in


Message 3 of 11
tparks5961
Regular Contributor

Re: My AZEO experiment

All unchanged excep TU.

 

I follow my credit obsessively unfortunately, and thats been the only change.. I'll post  5 % on the card next month to see what happens.

Last Inquiry 12/23/2022 Ally Bank Mortgage
Fico Score Progression: 10/1/2018 EQ 530 TU 535 EX 540 | 1/10/2023 EQ 785 TU 789 EX 787
Message 4 of 11
tparks5961
Regular Contributor

Re: My AZEO experiment

Ahh, I didn't see that $20.00 requirement.  The reported balance was $8.00

 

I'll post it at $30.00 and report back next month 8*)

Last Inquiry 12/23/2022 Ally Bank Mortgage
Fico Score Progression: 10/1/2018 EQ 530 TU 535 EX 540 | 1/10/2023 EQ 785 TU 789 EX 787
Message 5 of 11
Anonymous
Not applicable

Re: My AZEO experiment

I can assure you the low balance was not the problem, an All zero penalty would have been 15-20 points across all CRAs. Also, point gains from AZEO aren't guaranteed, in my year long AZEO test, between 1 card reporting vs all cards (7) reporting naturally, EX didn't move an inch, EQ a few points and TU was 7 points if memory serves. YMMV.
Message 6 of 11
Anonymous
Not applicable

Re: My AZEO experiment


@Caardvark wrote:

What was the "reported" balance of the Capital One card on your credit report? Some lenders will report extremely low balances as $0 which would, in turn, cause a scoring penalty for all balances being at $0.

 

If I recall correctly, it is recommended to have your "Except One" card report a balance >$20 but I will let the AZEO experts chime in


No such $20 rule, what you need to worry about is that some lenders will forgive super low balance and report $0, for example Discover will zero out < $2. Once a balance is reported to CRAs, even if it's just $1, UTI will be rounded up to 1%.
Message 7 of 11
SouthJamaica
Mega Contributor

Re: My AZEO experiment


@tparks5961 wrote:

So, I paid all of my balances down to $0 excpet 1 card.

 

Discover Card $0/$2500.00

Regions Card $0/$2000.00

Capital One $8.00/$300.00

 

I guess my total aggregate Utilization is less than 1%.  To be exact .16% 

 

As a result of paying my balances down that low, my TU Fico score dropped 5 pts from 643 to 638. So to get the full benefit of AZEO, one card has to post a higher balance than what I had.  I'm not sure what % has to be posted.. 

 

Does anyone have any idea? Maybe the sub 1% is reporting as a $0 balance in the scoring algorithm? 

 


Something else caused the small point loss.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 8 of 11
tparks5961
Regular Contributor

Re: My AZEO experiment

Here was the only change todayHere was the only change today

Last Inquiry 12/23/2022 Ally Bank Mortgage
Fico Score Progression: 10/1/2018 EQ 530 TU 535 EX 540 | 1/10/2023 EQ 785 TU 789 EX 787
Message 9 of 11
Anonymous
Not applicable

Re: My AZEO experiment

Is that from myFICO? If so, we get this question multiple times a week.

 

The problem is that not all alertable events are score changing, and not all score changing events are alertable, therefore very often when an alertable event triggers a scoring update, it has nothing to do with the change in score, it could have changed days or weeks ago but remains unknown because it was not an alertable event. (Hence the disclaimer "Your score may be affected by additional information in your credit report")

 

To accurately attribute individual events to scoring changes you really need access to daily reports and scores update like Experian subscriptions, myFICO alerts are too inconsistent, incomplete and often too slow for accurate results.

Message 10 of 11
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.