Score Simulator Suggestions??

[Anonymous]

The score simulator suggests that I pay $75 per month for 24 amount of months to pay off my $1,816 worth of revolving debt in order build my credit score up (around 90 points on each agency).  Thing is .. the amount it suggests to pay ($75/mo) is less than what I currently pay per month ($107 total, all minimum payments) towards my revolving credit.

I don't understand exactly what it's suggesting that I do.  Pay the minimum plus an extra $75/mo?  Only pay $75/mo (surely not) Very confused by this lol.

Any advice about this?

[sarge12]

---

@Anonymous wrote:

The score simulator suggests that I pay $75 per month for 24 amount of months to pay off my $1,816 worth of revolving debt in order build my credit score up (around 90 points on each agency).  Thing is .. the amount it suggests to pay ($75/mo) is less than what I currently pay per month ($107 total, all minimum payments) towards my revolving credit.

I don't understand exactly what it's suggesting that I do.  Pay the minimum plus an extra $75/mo?  Only pay $75/mo (surely not) Very confused by this lol.

Any advice about this?

---

Score simulators are totally useless...they are about as accurate as tarot cards and ouija boards. Personally I PIF every single card every single Month. Please do not allow a score simulator to guide your credit habits...they usually cost nothing, and are worth the same amount.

[Anonymous]

So the Myfico.com credit simulator is worthless?  Then why do we pay for this service?

Personally I want to just pay all I owe off, but it's telling me if I do that it will hurt my scores .. and I'm trying to build them up.

[sarge12]

---

@Anonymous wrote:

So the Myfico.com credit simulator is worthless?  Then why do we pay for this service?

Personally I want to just pay all I owe off, but it's telling me if I do that it will hurt my scores .. and I'm trying to build them up.

---

It is not the simulator you pay for...that is just an add-on. Paying all credit cards off is very unlikely to harm your score, and will probably increase your score. As a general rule of thumb, you are usually best off to only have 1 card report with a fairly small balance. I keep my overall utilization around 3% or less, and never allow a card to report >30%. There are so many factors that go into a credit score it would be almost impossible to design a simulator that worked well for every credit profile. Go to the learn about scores section to get a good idea about what goes into a score, and frequent these forums. There really are some knowlegable users in this forum.