Trying AZEO. Insight requested!

[Anonymous]

I've read about AZEO in the past but never gave it thought because I was under the assumption you should leave a small balance on every card so it reports a positive payment for the month. So I have 3 credit cards and a store line of credit. Would I be able to use the LOC for my one with balance and leave the 3 credit cards at zero? Or does one of the actual credit cards need to have a balance?

[Anonymous]

It should be a major bank card such as CapOne or Discover, not any store credit. People have seen that using store credit as their “EO” portion of AZEO doesn’t impart the scoring bonus.

[Anonymous]

That's what I figured, but wanted to clarify. Downside is don't want to quite pay off my LOC just yet so I guess I'll have to settle for 2 at 0 and 2 with a small balance. Even still I'd be under 4% util.

[Anonymous]

That may not get you the maximum but it certainly doesn’t hurt. I think you’ll be fine either way.

[Anonymous]

Also, should I choose a different card every month to report the balance? Or does it even matter?

[Anonymous]

Scorewise it makes no difference - just make sure it’s a bank card and not a store card. You can rotate them though and it might look better over time for human eyes on your report as it’ll show usage on all your cards rather than one card with a continual balance report and the rest showing zero month after month.

[Anonymous]

If you only have 4 tradelines, you need to have only 1 reporting a balance for maximum score. # of accounts with a balance will ding you with 2, most likely and depending on algorithm.

Store cards are unpredictable and should be avoided if possible, as stated above. Personally I've experienced only partial gains with store cards as AZEO as opposed to a bankcard giving the full gain. Stated differently, the no revolving balance penalty seems to partially apply when using a storecard, whereas when using a bankcard, it doesn't apply.

[Anonymous]

Thank you for the insite! I'm going to give it a try!