FICO Score Simulator - inconsistent results

[drkaje]

I've gone back and forth with a few simulators and ended up wondering the same thing. Here's my best guess: Paying down balances over time is valued more highly by simulators because they're also factoring in increased account age.

That could be totally wrong but was the only thing I could come up with that made sense.

[marty56]

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@drkaje wrote:

Paying down balances over time is valued more highly by simulators because they're also factoring in increased account age.

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This brings up an interesting point.

Do you ever max out your age points?  How old is old enough?

My AAoA is 12 years and I haven't had new credit for over 2 years so will paying over time really get me more points by doing so. 

[drkaje]

@ Marty,

Is 12 the max?

[marty56]

IMHO I think it would be much less, maybe 6 years.

[drkaje]

I read here that it was 12. My average age is is around 11 years and there's still a little bump as the months move forward.

[Crashem]

Just use fico estimator for more accurate results. Fico estimator is great for what if scenarios.

[JenniferinFL]

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@lolabelle wrote:
I was just playing with the FICO Score Simulator. My Equifax score is currently 734. I simulated my "best action" and was shown a range between 754-794 for paying down my revolving credit balance by 90-100% over the next 24 months. Then I plugged in a payment for the full amount of my revolving credit balance and was shown a range of 734-754. Weird. Is this thing just really not worth much or am I missing something?

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Your forgetting to take into account the aging of your accounts. Just paying your cards off tomorrow doesn't make them 2 years older. Do you have new-ish accounts? I'm pretty sure that there's an explanation on that page stating that it took into account the aging of your accounts. Okay double checked "So your score simulation took into account both your lower balances and the aging of your credit history."