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4
AZEO - All Zero Except One
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- Have multiple credit cards (ideally 5-6) with no late payments.
- Pay down the balance on all cards to $0 before the statement closing date except one.
- The one card you keep a balance on should preferably be the card with your highest credit limit - this helps keep your credit utilization % low for that individual card.
- The balance you keep should be less than 9% but more than $5. Some lenders will report less than $5 as $0 which would be 0%). 1% is the goal, but 8.9% is good too.
- Pay the balance off after the statement closing date but before the bill is due - so you don't get charged interest.
- Make a small charge above $5 on the same card to keep a balance. Remember - no more than 8.9% of the credit limit on that card.
- You can use the other cards as much as you want as long as you pay off the balance to $0 before the statement closing date each month. That way the balance on the card will be reported as $0.
- Repeat steps 5 & 6 every month.
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