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Fico simulator "pay bills on time"

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Anonymous
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Fico simulator "pay bills on time"

Hi All,

I may be in the wrong section here... on my phone, cant find what im looking for...What exactly does this simulator do? It gives me some decent increases for a yr or two of paying all bills on time, but what bills is it talking about? Bills don't show up on your report unless you didn't pay them and they went to collections. There is a separate simulator for paying credit cards, so what exactly it showing me when I pay all my bills on time?
4 REPLIES 4
lhcole77
Valued Contributor

Re: Fico simulator "pay bills on time"

 I believe this is referring to paying any account on your reports on time. The credit card simulator is taking into effect utilization of credit. 

 

Payment history and UTL are factored separately. 

 

ETA: they both also consider added age, which can boost scores. And I imagine that with added age it also will factor in effect of HPs and their aging. 

Message 2 of 5
RonM21
Valued Contributor

Re: Fico simulator "pay bills on time"


@lhcole77 wrote:

 I believe this is referring to paying any account on your reports on time. The credit card simulator is taking into effect utilization of credit. 

 

Payment history and UTL are factored separately. 

 

ETA: they both also consider added age, which can boost scores. And I imagine that with added age it also will factor in effect of HPs and their aging. 


This is a pretty good explanation of it. The results it gives will not be exact but will give you an estimated range.



Total CL: $321.7kUTL: 2%AAoA: 7.0yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k | NFCU-45k | AMEX-42k | DISC-40.6k | PENFED-38.4k | LOWES-35k | ALLIANT-25k | CITI-15.7k | BARCLAYS-15k | CHASE-10k

Message 3 of 5
Anonymous
Not applicable

Re: Fico simulator "pay bills on time"

It's a for instance.  And will show you which method you take that will yield the best fico score in the shortest amount of time.  The bills they are talking about would be your cc's, auto, mtg and I would assume any lates, collection, etc.  It will put all in and after a certain amount of time give you what should happen with your scores.  Month by month.  Some say it doesn't work.  It does work for me.  Actually a bit sooner than what it said.  But remember when you add a new card or hp, it will take that into consideration and move your better scores out a bit farther.  Try it and see if it works for you.  

Message 4 of 5
Anonymous
Not applicable

Re: Fico simulator "pay bills on time"

Thanks for the explanations! Unfortunately, sandibeach22, I can't really get a good estimate right now. I started on 3/7. A TON of changes have happened since then. New accounts, auto clis, balance decreases, score increases 50pts plus. I have to wait until 6/7 to get an accurate representation. Even then, scores change. So the simulator is kind of broken, in my opinion. It should be working based off your most recent fico 8s, not your 2 month ago scores. Just my thoughts.
Message 5 of 5
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