Understanding FICO® Scoring

[txjohn]

Here is a FICO Simulator / Estimator which is "powered by MyFICO"

http://www.bankrate.com/brm/fico/calc.asp  which is the same simulator as FICO® Score Estimator on the MyFICO site.

For those who say "what if I do x, y or z....what will my score be" here is an opportunity to "what if" and see the potential results of your hard work....and to help you determine what areas to focus on first for maximum results.

Here are some very useful financial calculators here:  

http://www.bankrate.com/calculators.aspx

Use these calculators to figure out payments and budgets.  You can also use the CREDIT CARD CALCULATOR to see how much you are going to pay out if you only pay minimums. 

Anybody that has other useful calculators or online tools, please add them to this thread

Message Edited by txjohn on 04-19-2009 02:35 PM

[MattH]

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txjohn wrote:

Here is a FICO Simulator / Estimator which is "powered by MyFICO"

http://www.bankrate.com/brm/fico/calc.asp  which is the same simulator as FICO® Score Estimator on the MyFICO site.

For those who say "what if I do x, y or z....what will my score be" here is an opportunity to "what if" and see the potential results of your hard work....and to help you determine what areas to focus on first for maximum results.

Here are some very useful financial calculators here:  

http://www.bankrate.com/calculators.aspx

Use these calculators to figure out payments and budgets.  You can also use the CREDIT CARD CALCULATOR to see how much you are going to pay out if you only pay minimums. 

Anybody that has other useful calculators or online tools, please add them to this thread

Message Edited by txjohn on 04-19-2009 02:35 PM

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Yes, the Bankrate calculators are excellent, I've used them many times.

That estimator is pretty good -- for me it gives a range of 755 to 805 right now.  If you've recently pulled an actual FICO score from myfico then you can also use its simulator tool, which has the advantage of starting from actual data.  But the estimator allows some scenarios not covered by the simulator tool.

Another good site is the Mortgage Professor:

http://www.mtgprofessor.com/calculatorsOriginalMenu.htm

http://www.mtgprofessor.com/spreadsheets.htm

Message Edited by MattH on 04-20-2009 09:30 PM