Understanding FICO® Scoring

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Regular Contributor
turninganewleaf
Posts: 140
Registered: ‎08-08-2007

FICO Simulator Accuracy?

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‎08-14-2007 09:56 AM

Is it realistic?  I currently have FICO 598.  According to the FICO simulator's best plan of action suggests I pay my credit card balances down 90-100% and I'm looking at a FICO score ranging 698-738.  Well, I will have all of my cc balances paid to $0 by the end of Dec. '07.  Can I really look forward to that FICO score????  If so, that would be great!
 
 
FICO 8/5/10; TU 724, EQ 702
FICO 6/9/09: TU 669, EQ 658, EX ???
FICO 7/20/07: TU 540; EQ 595, EX 544
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Regular Contributor
javi84
Posts: 171
Registered: ‎05-18-2007

Re: FICO Simulator Accuracy?

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‎08-14-2007 10:08 AM

Its very likely you will see that jump, assuming you're never late paying, etc.
For age and want, save while you may; no morning sun lasts a whole day.
--Benjamin Franklin
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Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007

Re: FICO Simulator Accuracy?

[ Edited ]
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‎08-14-2007 11:09 AM - edited ‎08-14-2007 09:45 PM

Weird! It deleted. I bumped it and it reappeared.

Message Edited by ilovepizza on 08-14-2007 09:45 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
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Regular Contributor
turninganewleaf
Posts: 140
Registered: ‎08-08-2007

Re: FICO Simulator Accuracy?

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‎08-14-2007 12:16 PM

Hello pizza,
 
The link you attached says message has been deleted...
FICO 8/5/10; TU 724, EQ 702
FICO 6/9/09: TU 669, EQ 658, EX ???
FICO 7/20/07: TU 540; EQ 595, EX 544
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snookie
Posts: 77
Registered: ‎08-11-2007

Re: FICO Simulator Accuracy?

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‎08-14-2007 03:07 PM


turninganewleaf wrote:
Is it realistic?  I currently have FICO 598.  According to the FICO simulator's best plan of action suggests I pay my credit card balances down 90-100% and I'm looking at a FICO score ranging 698-738.  Well, I will have all of my cc balances paid to $0 by the end of Dec. '07.  Can I really look forward to that FICO score????  If so, that would be great!
 
 


I noticed that the best plan of action always uses 24 months along with whatever advice it's offering, so realistically it's predicting age along with your paying off those balances.
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Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007

Re: FICO Simulator Accuracy?

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‎08-14-2007 09:48 PM

Here is the link. When I post links with out typing something else weird stuff happens. I think there might be a filter removing it.
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=34940
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
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