Accuracy of Cap1 Score Simulator?

Desmoire · ‎10-01-2014

I simulated doing a balace transfer of my 5 cards to my new NASA FCU card and it showed this:

Can I expect this to be relatively accurate? When I simulate paying all of my credit card balances, it shows 697.

Creditaddict · ‎10-01-2014

ZERO!

Creditaddict · ‎10-01-2014

oay little more than none but I wouldn't read much into it and it's fako regardless how accurate it is for that score.

Anonymous · ‎10-01-2014

@Creditaddict wrote:
oay little more than none but I wouldn't read much into it and it's fako regardless how accurate it is for that score.

+1 again for CreditAddict.

ray8806 · ‎10-01-2014

Yeah, pretty much zero. I simulated my newest card before it reported and it showed my score dropping by 20-30 points. Instead it was raised by 10-40.

EQ: 710(FICO) EX: 695(FICO) TU: 708(FICO)

Desmoire · ‎10-01-2014

dam that sucks, I was getting SUPER excited lol

CreditDunce · ‎10-01-2014

Well the Cap1 simulator is worthless. But if you end up with 5 cards not reporting a balance and the NASA CC's util numbers are too bad, it will probably help your score. And it could help a good bit. We just don't know by how many points. Also, if the NASA CC is a new account, I would tread gently in the unlikely event they decide to do CLDs or close accounts in the next couple of months.

takeshi74 · ‎10-02-2014

This is a very common topic. All scoring models are accurate but only for their own scoring model. You can't rely on a score generated by one model to determine the score generated by an entirely different model even if both models are FICO's. The Capital One scoring simulator is only accurate for that scoring model. It won't be accurate for any other scoring model.

Further, is your new card already reporting? If not, it's not being factored into any scores since scores are based on data in your reports.

Instead of fixating on the numbers I recommend reading up on how your FICO scores are assessed and focusing on the data in your reports:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

Given the above, how would a BT improve your score? Your overall utilization would remain the same. Does it drastically reduice the individual utilization on the other 5 cards? How is the utilization on your NASA FCU card affected?