fico score simulator

[backtogood]

Hello everyone. Pulled a new eq report this morning, my score finally reached the 600's after a year of rebuilding. I used the fico simulator to check different scenarios for my score.

The question I had was imy score is showing a 20 point minimum bump for 1 month of paying my bills on time. From 601 to 621-651. Its seems a little strange to me that in one month there could be such a change, has anyone had this experience and notice the accuracy of the 1 month simulation in their scores?

I cary a heavy util as well, 90 to 95 percent. By paying off all my credit cards in one month it gives me a potential score of 701 to 741.... happy of that once im able to pay down most of my revolving accounts.

Thx

[Bostonredsox]

i also am wondering how valid the score simulators are.  i had high util of 85%.  paid it down to 5%.  according to the sims it said my EQ should go from 668-->738 and my TU should bump from 706--> (736-776).   thats bumps of 60-70 points.  heres to hoping they are correct in their simulations.  will let you know in 28 days.

doing a forum search I noticed one of the moderators said his util went fom 89 to 1% and his score went up 125 points instantly.  util is my #1 on most of my reports, oddly its #2 on EQ, #1 is missed payments....but I only have 2 30 day lates and there both over 4 years old...w/e well see soo.  hoping for big boost

[tomfromrictmame]

---

@backtogood wrote:
Hello everyone. Pulled a new eq report this morning, my score finally reached the 600's after a year of rebuilding. I used the fico simulator to check different scenarios for my score.

The question I had was imy score is showing a 20 point minimum bump for 1 month of paying my bills on time. From 601 to 621-651. Its seems a little strange to me that in one month there could be such a change, has anyone had this experience and notice the accuracy of the 1 month simulation in their scores?

I cary a heavy util as well, 90 to 95 percent. By paying off all my credit cards in one month it gives me a potential score of 701 to 741.... happy of that once im able to pay down most of my revolving accounts.

Thx

---

Simulators are alomost useless.  That said, utilization is a huge contributor to your score.  It would not be unusual to see large points increases with significant decreases in utilization.

[Kelsey_H]

Maybe this will help:

The FICO Score Simulator is based on the underlying analytics of the true FICO Score and is intended to be an educational tool that is designed to give the most accurate view of FICO Score dynamics when a particular change in credit behavior is input into the simulator engine.  The degree of change in a score generated will be affected by the parameters of the simulated action and the overall credit profile.  Other information in a consumer’s credit report may change and could impact the score in addition to any specific actions a consumer enacts.