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Established Member
yoman1126
Posts: 41
Registered: ‎03-15-2012
0

credit simulator

How accurate is a credit simulator? According to my LO paying my util from 34% to 8% would add 12 points to my EQ score...they said they do the simulator on EQ because they are the most stingy of the 3 CRA and that EX and TU usually give more points.
Valued Contributor
rckstrscott
Posts: 2,660
Registered: ‎04-25-2011
0

Re: credit simulator


yoman1126 wrote:
How accurate is a credit simulator? According to my LO paying my util from 34% to 8% would add 12 points to my EQ score...they said they do the simulator on EQ because they are the most stingy of the 3 CRA and that EX and TU usually give more points.

Those simulators can be iffy. Even the one here on the FICO website doesn't really seem that accurate..

It may or may not give you the points... It really depends on the credit makeup of your file, what kind of information is in it, what scoring bucket you are in ect ect.

 

Some people could get 20+ point boosts from that, some will hardly get any..

 

I would guess that more people than not would get the 12 point boost.. but it also depends on how low you are to start.. if you are in the high 500s? it would give you more.. if you are like, 700? it wouldn't be a whole lot... If I was in your position, I would feel cautiously optimistic it would give me the points needed.

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
Established Member
yoman1126
Posts: 41
Registered: ‎03-15-2012
0

Re: credit simulator

My scores are eq 614 exp 627 tu 637
Valued Contributor
rckstrscott
Posts: 2,660
Registered: ‎04-25-2011
0

Re: credit simulator


yoman1126 wrote:
My scores are eq 614 exp 627 tu 637


If I was a gambling man I would put my money on you getting the 12 points...

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
Established Member
yoman1126
Posts: 41
Registered: ‎03-15-2012
0

Re: credit simulator

Well. Last month my cc reported to cra on the 16th...will they most likelty report again on the same date or should I do a rapid rescore?
Valued Contributor
rckstrscott
Posts: 2,660
Registered: ‎04-25-2011
0

Re: credit simulator


yoman1126 wrote:
Well. Last month my cc reported to cra on the 16th...will they most likelty report again on the same date or should I do a rapid rescore?


CC always report near or on the same day. My cards always report the exact same day every single month. Sometimes, they will report on the 16th but not show on reports until 20th or so. Thats how mine work.

 

I saw in a previous thread you are on a time crunch. So I mean, if the rapid rescore cost a little money but will help you in the long run, I'd consider it..

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX

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