rckstrscott wrote:
Kartel34 wrote:The credit simulator estimated only a 12 point increase if I bring my credit% down from 70% to 10%. I was able to pay my credit cards down to 10% now I have to wait and see. I'll keep you posted.
Credit simulator, as Ashdog said, should not be remotely trusted.
To be honest; although it is a 'MyFICO' tool, I don't even think they use anything close to their own scoring formula when 'predicting'
The best thing is learn the simple rules of thumb, previous experience, and what impacts the most at what time. Check the 'learn about scores' section and understand how each factor impacts your credit score. Understanding this is the best possible simulator. After 2 years now, I can predict within 5 to 10 points what my score is going to do based on my util ect ect
-scott
^ This ^
Although im still a noob, when starting at FICO State University last month, the simulator stated my "best course of action" is to pay utilization down to 0" (or something along those lines). the 100% util revolves around a CO thats still reporting a CL (thats so crappy but thats another thread all by itself...) of 10k with a 12k ish bal. Of course, that makes the fact my 3 low limit open revolving accts (300, 250, 250) reporting 0/0/9% completely moot.
Aaanyway, it 'estimated' and a change 427>627-667. Now, this MAY have been believable if there wasnt a huge fed tax lien, 2 judgements, 8 CAs, 4 accts reporting CURRENT 120+ late, and multiple COs.
In 6/12,6/12,8/12 (EX, TU, EQ respectively) when the 10k CL CO ages off the CRs, ill know for sure, but if the jump is to more than 60 pts (assuming no other changes to the other negs), ill eat this whole notebook.....
I was playing with the CreditXpert simulator as part of a trial membership to Privacy Guard. It was pretty cool. I guess CreditXpert licenses their software to other credit sites/ organisations. They have several different applications that can do stuff like say for example you have several past due dredit cards and only 1000 dollars to spend. It can tell you how to best allocate that 1000 dollars to gain the most fico points with it. Creditxpert seemed really cool. I got a 1 dollar membership to privacy guard for a month and was able to try it. I was going to continue wiht the 14 dollar a month membership and was very excited about it. During that period I eeducated myself and be came aware of the fact that the credit scores I was getting from that site were fakos and that made the whole thing seem less worth it. I ended up cancelling my membership to the site. Creditxpert was definately the best thing about it however and I urge other people to try. I think it performs the same function that a good credit counsellor would who sat down with you credit reports in hand and assessed your options. Good luck!
0/500
0/400
1/1000
0/2000 FICO EX 645,EQ 648,TU 648...
They are for "educational purpose only". 
Starting Score: 504
Current Score: EQ FICO 819, TU08 775, EX "Who Knows?" Quizzle 756
Goal Score: All Scores 760+, Newest goal 800+
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