Credit Karma Simulator??

Anonymous · ‎05-02-2017

So I've just begun my credit repair journey and was messing with the Credit Karma simulator. I have only one credit card currently with a CL of $1000 and a balance of ~$950. The simulator says if I reduce my balance down to $300 my FAKO score goes from 577 to 665. That cannot be correct can it?

Anonymous · ‎05-02-2017

CK scores are called FAKOs for a reason ... there's no way that's correct.

Consider getting your true FICO scores

Anonymous · ‎05-02-2017

it would depend on the rest of your profile, but i know from experience years ago,that when i paid off a card my score shot up 80 something points. That was fico, didnt have websites with fako scores back then, and the only thing i had on my report was that card too.

Anonymous · ‎05-02-2017

I do have my real scores through Credit Check Total and they aren't that far off. I know i have a utilization problem but dont know how much of a bump i'd get by paying down our only credit card. Hence my simulator question.

Anonymous · ‎05-02-2017

@Anonymous wrote:
it would depend on the rest of your profile, but i know from experience years ago,that when i paid off a card my score shot up 80 something points. That was fico, didnt have websites with fako scores back then, and the only thing i had on my report was that card too.

I have some credit card charge offs and collections accounts hitting me right now. I guess only time will tell for sure.

simplynoir · ‎05-02-2017

@Anonymous wrote:
So I've just begun my credit repair journey and was messing with the Credit Karma simulator. I have only one credit card currently with a CL of $1000 and a balance of ~$950. The simulator says if I reduce my balance down to $300 my FAKO score goes from 577 to 665. That cannot be correct can it?

I can somewhat believe that only because you'll be taking your utilization from a very precarious 95% to the magic 30% (if not <10%). Utilization when your portfolio is thin is a pretty big deal. That again assumes that's the only credit card on your report.

Anonymous · ‎05-02-2017

@Anonymous wrote:
I have some credit card charge offs and collections accounts hitting me right now. I guess only time will tell for sure.

Yeah, me too. so getting your util down will help, how much will depend on the rest of whats on your report. Wish you the best with that tho, i'm working on paying/removing my CO/collections now.