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Check back 8/6/07. Testing the real life accuracy of the FICO Calculator.

Senior Contributor

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

The Equifax rep said, the simulator is pretty accurate and had I paid off 3% as the simulator indicated my score would have gone up a fast 10 points. However the Equifax rep said, because I had not made a payment on my current debt, my old debt does not reflect the new credit line percentage. The Equifax rep further said my debt is currently being scored on the way I handle the whole debt not just a percentage therefore my score did not change because a percentage change in this case did not reflect a debt decrease. And further stated new debt would be reflected towards the new percentage.

I have no idea if that information from the rep is accurate. But it sounds good. I can further prove her theory by making a payment of 3% today and see if that does in fact change my score as the calculator stated. But I won't be able to confirm the accuracy of the Fico simulator until 6/8/07 when my bank updates my report with Equifax. So we wait until 6/8/07 unless anyone else has other input.

The Equifax rep also said monitoring does not include credit limit changes in either direction.

Message Edited by ilovepizza on 05-21-2007 02:03 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 11 of 28
Super Contributor

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.



ilovepizza wrote:
The Equifax rep said, the simulator is pretty accurate ......

And I have this bridge for sale in Brooklyn......   Smiley Very Happy
 
I have done some simulations in the past where the actual score increase was only about 0-30% of what was predicted (or, to be more accurate, -5 to 30%).
 
I have just done a couple of simulations on paying down credit and paying bills on time, and they do not take into account a derogatory that will have dropped off by then.  So in general, I have lirttle faith in the simulator, other than as a very rough guide that usually, but not always, manages to get the direction right, and never the magnitude  Smiley Sad
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 12 of 28
Senior Contributor

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

I agree. The calculators only discuss 1 specific action. The left starting number is your action 700-730, right side is the future possibilities and really have no bearing. In this case if it says 700-730, your action will give you a score of 700 if "nothing" else changed on your report over that time. However, even being, I have no clue even if it is remotely correct. But since I have done exactly what it said, we shall see if I get an "exact" 10 point increase in 3 weeks. If not, all my data that I have on percentages to limit become useless being that they are all based on this calculator.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 13 of 28
Senior Contributor

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Payment posted. Just have to wait for them to send the update to EQ on the 8th. :-)
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 14 of 28
Senior Contributor

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Yes. My credit score went up exactly 10 points today. At least this time it was accurate. I think for the short term it might be accurate. Unless I just got lucky. I will keep watching the simulator to see if it's predictions are as accurate in the future. :-) I gained 10 points today. 800's will soon be in reach!
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 15 of 28
Moderator Emeritus

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.



ilovepizza wrote:
Yes. My credit score went up exactly 10 points today. At least this time it was accurate. I think for the short term it might be accurate. Unless I just got lucky. I will keep watching the simulator to see if it's predictions are as accurate in the future. :-) I gained 10 points today. 800's will soon be in reach!


high util + LUV button = lower util and higher scores
Message 16 of 28
Senior Contributor

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

I am going to try to lower utl again. We already know that when you lower utl scores go up. But I want to know if the fico calculator is accurate or I am just getting lucky.

I have another payment posting in 2 weeks from a different card. This will bring me to the next percentage break point where the fico calculator states another 10 point gain. That reports around 6/10 to 6/14. I will post what happens. :-)
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 17 of 28
Established Member

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

ilovepizza:
 
How did you find out what date your accounts post to the CRAs?
Message 18 of 28
Moderator Emeritus

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.



Felicity wrote:
ilovepizza:
 
How did you find out what date your accounts post to the CRAs?



TC.. or call and ask.
Message 19 of 28
Senior Contributor

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.


Felicity wrote:
ilovepizza:
How did you find out what date your accounts post to the CRAs?

I pulled my credit reports every other day for 2 months. Still sometimes they report early and sometimes they report late.

Message Edited by ilovepizza on 05-30-2007 12:11 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 20 of 28