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Established Member
Posts: 25
Registered: ‎11-23-2011
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How accurate is the Credit Score Simulator?

My credit score is currently 677..

I had $1725 in debt, I paid off $1400 of it literally over 3 weeks ago.. Im guessing it will be reported near the end of the month..

 

But anywho, I didn the simulator thing and it said my credit score could be anywhere from 737-777.. I got very excited and then thought to myself this cant be right..

 

Seven months ago I opened a Best Buy line of credit for $1500 and back then my credit score was 709.. I used all the $1500 to buy a TV.. I dropped $50 a month until last month I dropped $1400...

Since then I applied for 3 more credit cards and applied for a 20k auto loan, that dropped my score to .........You got it, 677 lol..

 

So in conclusion, if my credit score was 709 just seven months ago, is it really possible for it to jump 100 points? LOL I would be ecstatic LOL.. Heck, if it goes to 737 I would be ecstatic.. But if it does go to 777 I would surely get an auto loan from the bank to get the Camaro Ive been craving for..

 

Anyone knows how accurate the simulator is with experience? I will update this when my score is updated..

 

EDIT

 

One last question, will my credit score change automatically? or do I have to buy it everytime I want to see the score.. I see on my main page it says (Buy todays score) whats that all about?


Starting Score: 677
Current Score: 704
Goal Score: 725


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Super Contributor
Posts: 5,703
Registered: ‎10-06-2007
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Re: How accurate is the Credit Score Simulator?

Based on what's on your CR, your score good jump or go down 100 or more points.  credit scores are calculated when they are pulled, they don't exist otherwise.

 

Based on your total % util and how many of your CCs had a balance and thier CLs, yes your score could go up well into the 700s.  You need to wait till those CCCs report the balance change  before pulling your FICO scores though.  Score Watch or EQ's FICO score monitor for EQ would be a good choice here.

11/28/2014 FICO: EQ: 796 EX:788 TU:803
Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: How accurate is the Credit Score Simulator?

[ Edited ]

MannyG wrote:

My credit score is currently 677..

I had $1725 in debt, I paid off $1400 of it literally over 3 weeks ago.. Im guessing it will be reported near the end of the month..

 

But anywho, I didn the simulator thing and it said my credit score could be anywhere from 737-777.. I got very excited and then thought to myself this cant be right..

 

Seven months ago I opened a Best Buy line of credit for $1500 and back then my credit score was 709.. I used all the $1500 to buy a TV.. I dropped $50 a month until last month I dropped $1400...

Since then I applied for 3 more credit cards and applied for a 20k auto loan, that dropped my score to .........You got it, 677 lol..

 

So in conclusion, if my credit score was 709 just seven months ago, is it really possible for it to jump 100 points? LOL I would be ecstatic LOL.. Heck, if it goes to 737 I would be ecstatic.. But if it does go to 777 I would surely get an auto loan from the bank to get the Camaro Ive been craving for..

 

Anyone knows how accurate the simulator is with experience? I will update this when my score is updated..

 

EDIT

 

One last question, will my credit score change automatically? or do I have to buy it everytime I want to see the score.. I see on my main page it says (Buy todays score) whats that all about?


It's possible to see low triple digit gains if util is listed as a top negative reason within your FICO report, and if you have other CCs outside the BB, and if your overall util drops by nearly 100%, then I see it as possible. I went from 89% to 1% once and saw gains over 100 pts. IME, the simulator wasn't all that, but some swear by it. Check the settings on that too. Paying balances over 2 yrs is a lot different than paying it over one month. The difference isn't due to CC-paying habits, but the difference in results is based on the aging of existing accounts.

 

If you purchased a FICO score and report via FICO Standard, then know that it's a one-time pull only. If you find yourself pulling your EQ FICO frequenty, then consider ScoreWatch. You get 30% off all future EQ reports and the savings adds up.

 

 

ETA.....I'm a slow typer ar 4:00am in the morning.

 

 

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