Understanding FICO® Scoring

[ilovepizza]

My score change should have gone up 10 points because the debt % dropped due to a 200% increase in limit. Does it take 60 days before CLI's are reflected against your scores. No inquiry was added for the CLI. I was looking forward to a "quick" score change. hehe. Probably anything quick is delayed intentionally by the scoring system. Not sure, any opinions?

Message Edited by ilovepizza on 06-09-2007 04:36 PM

[Tuscani]

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ilovepizza wrote:
My score change should have gone up 10 points because the debt % dropped due to a 200% increase in limit. Does it take 60 days before CLI's are reflected against your scores. No inquiry was added for the CLI. I was looking forward to a "quick" score change. hehe. Probably anything quick is delayed intentionally by the scoring system. Not sure, any opinions?

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Where are you getting 10 pts from? You can't say some event will change your score an X number of pts. CLIs generally update within 30 days, or whenever the CCC reports again.

[ilovepizza]

I was playing with numbers on the "FICO® Score Simulator" that came with Score Power through Equifax. It reflected that if my UTL dropped between a specific percentage my score would go up by 10 points. BRB, I am pulling a fresh credit report right now.

[MidnightVoice]

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ilovepizza wrote:
I was playing with numbers on the "FICO® Score Simulator" that came with Score Power through Equifax.

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The score simulator has a VERY tenuous relationship with reality

[ilovepizza]

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MidnightVoice wrote:

The score simulator has a VERY tenuous relationship with reality

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I was using the simulator like a fact sheet with relations to percentages. So the only way to truly know if something effects my score is to do it and wait. I spent days calculating where my score would be if I paid off more of my debt. Is there any way other than paying off 10% each month and seeing how my score is reflected to be able to predict a score with out doing it?

Message Edited by ilovepizza on 05-21-2007 12:46 PM

[MidnightVoice]

More or less.  The simulator (for me anyway) gives a very rough indication of what would happen in the best of all possible worlds.  The chances of it being spot on are similar to the chances of the Bills winning the next superbowl. 

[Tuscani]

Did you pull a new report? Was the simulator accurate?

[ilovepizza]

Am I also correct to assume that my percentages to effect scores might be different from my next store neighbor because of history, age of accounts, quan, and CL's?

[Tuscani]

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ilovepizza wrote:
Am I also correct to assume that my percentages to effect scores might be different from my next store neighbor because of history, age of accounts, quan, and CL's?

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Of course.

[ilovepizza]

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Tuscani wrote:

Did you pull a new report? Was the simulator accurate?

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The simulation reflected my balance percentage with out the increase amount. Instead of paying off 3% of debt I got a % CLI to have the same effect. My balance before was over 40% and now it is below 37% to new higher limit.

Either it is not accurate, not taking my increase in to effect to prevent short term gain, or my percentages are different for my new total credit limit.

But I wonder why my Credit Monitoring did not even detect that I had an increase in CL? Shouldn't that fall under "Changes in account"? Right now, I am not sure my score is taking the CLI in to effect yet. I am calling Exuifax to find out why monitoring did not detect the CLI.