Will doing AZEO help me get into the 800s next month?

[IcyCool7227]

Hi all, I am finding conflicting data points here on these forums about what the balance should be for AZEO. One says $10 whether others say $3 or $5. Would leaving one cent on the card be enough for maximum point boost or is it likely the card would report that as 0 as I've read?

My Mercury card is now going to be at $0 once the last payment processes, my Discover AU card and Capitol 1 card are both at $0. The one huge balance I have is my Amazon Prime Store Card sitting at $3,061.70. Then I have Chase Freedom Flex of $840.47 w/ over 6 months left of the intro 0% interest period. Is it best to leave at least $5 on that card vs. paying it all off? The only other card balance is Kohl's Charge at $109.62 which from past experience doesn't report a carrying balance into the next month as long as it's paid by then (isn't due til Jan. 21st).

I have enough funds to pay all those off and move into the FICO 800s by next month in the new year. Then I'm going to do a little app spree becuz by then I should be granted the lowest APRs.

[JoeRockhead]

It's fairly common for utilization to be rounded up, or down. To be safe I'd say to make sure the balance is between .6% and 1%.

[Thomas_Thumb]

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@IcyCool7227 wrote:

Hi all, I am finding conflicting data points here on these forums about what the balance should be for AZEO. One says $10 whether others say $3 or $5. Would leaving one cent on the card be enough for maximum point boost or is it likely the card would report that as 0 as I've read?

My Mercury card is now going to be at $0 once the last payment processes, my Discover AU card and Capitol 1 card are both at $0. The one huge balance I have is my Amazon Prime Store Card sitting at $3,061.70. Then I have Chase Freedom Flex of $840.47 w/ over 6 months left of the intro 0% interest period. Is it best to leave at least $5 on that card vs. paying it all off? The only other card balance is Kohl's Charge at $109.62 which from past experience doesn't report a carrying balance into the next month as long as it's paid by then (isn't due til Jan. 21st).

I have enough funds to pay all those off and move into the FICO 800s by next month in the new year. Then I'm going to do a little app spree becuz by then I should be granted the lowest APRs.

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The number of cards reporting small balances (under 9% of each cards CL) has little impact on Fico 8 or Fico 9 score if # reporting is 50% or less. I have 6 cards and see no difference in the AZE1-AZE3 range

In your case points will primarily come from reducing individual card and aggregate utilization levels. It looks like you have 1 card reporting 30.6% UT and another at 84%. Not sure what your aggregate UT is currently.

A gain of 10-20 points is likely just by having 50% or less cards report balances and keeping reported balances under 9% of each card's CL.

* Just to clarify, you never have to carry a balance on any card. A non zero balance needs to report but it can then be paid to $0 by due date.

Card issuers report trivial balances as $0. The minimum reportable amount varies by issuer. I believe these thresholds are $ based, not % UT. Some posters have mentioned $2 and $3 balances reporting as $0.

As a general guideline, $5 and above should be sufficient. Reporting atleast 1% should only be necessary if card CL is $500 or less. Store cards can be problematic as a designated AZE1 because some aren't coded as revolvers and won't satisfy Fico's "recent revolving account activity" criteria.

[Gregory1776]

Just made a post. 87% to 57% barely raised me up. We'll see about below 50% later,  but most of my debt payments will be going to my loan; 0% is 0%. May be a bigger jump going from loan at 36%- 29% or lower.

I'm not too concerned about the score atm (this is me, not anticipating applying for anything).

[Thomas_Thumb]

@Gregory1776 

Key thresholds for cards are under 49% and under 29% for notable point gains. Fico scores based on highest utilization level on any card. Of course, aggregate utilization is a seperate scoring metric.

Expect no point gain paying down the loan(s). They are only looked at in aggregate B/L and 9% is the one installment threshold under 50%. Data suggest mortgages are scored differently with respect to B/L (no 9%) bonus.

[SouthJamaica]

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@IcyCool7227 wrote:

Hi all, I am finding conflicting data points here on these forums about what the balance should be for AZEO. One says $10 whether others say $3 or $5. Would leaving one cent on the card be enough for maximum point boost or is it likely the card would report that as 0 as I've read?

At least $10. Don't want it to be rounded down to zero.

My Mercury card is now going to be at $0 once the last payment processes, my Discover AU card and Capitol 1 card are both at $0. The one huge balance I have is my Amazon Prime Store Card sitting at $3,061.70.

That should be paid down to zero.

Then I have Chase Freedom Flex of $840.47 w/ over 6 months left of the intro 0% interest period.

It you want to maximize your scores that should be paid down to $10 or $20.

Is it best to leave at least $5 on that card vs. paying it all off?

$10 to $20.

The only other card balance is Kohl's Charge at $109.62 which from past experience doesn't report a carrying balance into the next month as long as it's paid by then (isn't due til Jan. 21st).

Pay it down to zero.

I have enough funds to pay all those off

So pay them off, leaving $10 or $20 on the Freedom card.

and move into the FICO 800s by next month in the new year. Then I'm going to do a little app spree becuz by then I should be granted the lowest APRs.

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[Gregory1776]

@Thomas_Thumb 

Thanks. Definitely looking forward to the jump in score paying 1,100 on that card. Not in a particular rush. This loan is too old to have this balance though.