Question about AZEO for newbie

[DiamondDan73]

I apologize if this has been asked a million times before but I just am not understanding it. In my case I have 3 cards. 2 have a $1000 limit and 1 has a $300 dollar limit for a total on $2300.

What card would be the best to report with a balance and how much? My goal is to get my mortgage FICO as high as possible. 

Thanks in advance for your help. 

[AllZero]

Credit limit may not matter as long as you are under the % threshold. Choose a major bank card. Do not use a store or charge card; e.g. American Express.

[DiamondDan73]

They are all major credit cards. I have a zero balance on all cards. 

[Ficoproblems247]

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@DiamondDan73 wrote:

They are all major credit cards. I have a zero balance on all cards. 

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You definitely need to let one report a balance, as you are taking potentially a decent score hit for letting all revolving accounts report with a 0 balance. 

[DiamondDan73]

You definitely need to let one report a balance, as you are taking potentially a decent score hit for letting all revolving accounts report with a 0 balance

I understand I need to let one report a balance. My question is how much do I let one of the cards report?

[AllZero]

$10 or see below.
1-9% Aggregate
1-29% Individual

[DiamondDan73]

Got it. So if I let one of my cards that has a $1000 limit report a $10 dollar balance and the other 2 report a zero balance this would give me the largest FICO boost. Just to clarify I only have the 3 credit cards and no other revolving cards.  

[AllZero]

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@DiamondDan73 wrote:

Got it. So if I let one of my cards that has a $1000 limit report a $10 dollar balance and the other 2 report a zero balance this would give me the largest FICO boost. Just to clarify I only have the 3 credit cards and no other revolving cards.  

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Correct. AZEO will give you the biggest boost based on your current revolving accounts. You'll be at 33% of revolving accounts reporting a balance.

EX2 has another threshold around 25% for number of revolving accounts reporting a balance. I presume TU4 and EQ5 is the same if it follows the older scoring algorithm.

[Anonymous]

Any reported balance in the $5-$25 range would suffice on any of your cards if they are indeed all major bank cards as stated.