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Member
Posts: 7
Registered: ‎02-09-2013
0

Is the simulator accurate? Specific question in post.

I'm not sure if anyone will be able to help here but I am a little confused with the score simulator. I have a Charge Off with capital one that is almost 6 years old. I have to pay it for my mortgage to go through which I have no problem doing. The balance is 6032.00. When I put the balance in paying it over 1 month in the simulator it has my scoregoing to 696-736. It is currently low 600's.  When I do the 6034 in the box below it, where it is just paying whatever of the total revolving debt and I put it in the same amount of 6032, it only has my score going to 646-686.  I am just wondering why there is such a big difference between the two? Aren't the essentially the same thing?

 

Thanks for all of your help.

Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
0

Re: Is the simulator accurate? Specific question in post.

You really cant judge by a simulator.

 

While I have seen the ranges fall into place, I have also seen the ranges useless and no where even close.

 

YMMV .. I guess on the bright side its still an increase in either scenario. Maybe the difference is paying off a charge off compared to just paying off revolving debt.

Good Luck
May all your dreams and wishes become a reality!
Member
Posts: 7
Registered: ‎02-09-2013
0

Re: Is the simulator accurate? Specific question in post.

Thanks. it does make somewhat sense for a big jump because not only will it be paid in full but my utilization will go from 200% to low single digits. Do you think that alone can make a big jump?
Frequent Contributor
Posts: 360
Registered: ‎02-20-2008
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Re: Is the simulator accurate? Specific question in post.

Not accurate for me.

 

It told me if i paid down my utilization from 81% to less than 10% my score would go from 609 to 659-699.

 

It went to 636


Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
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Re: Is the simulator accurate? Specific question in post.


dparulis wrote:
Thanks. it does make somewhat sense for a big jump because not only will it be paid in full but my utilization will go from 200% to low single digits. Do you think that alone can make a big jump?

Yes I think it is possible..

Good Luck
May all your dreams and wishes become a reality!
Valued Member
Posts: 40
Registered: ‎11-12-2009
0

Re: Is the simulator accurate? Specific question in post.

When I use the score simulator, the advice given is typically followed by "...over the next 12-24 months."

 

So I think it takes into consideration the ages of your accounts, impact of inquiries, etc. as well which is why the score immediately following your intervention may not be as projected.

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Member
Posts: 7
Registered: ‎02-09-2013
0

Re: Is the simulator accurate? Specific question in post.

I know it has the option for best case scenario which factors 12-24 months but I doing the option of everything happening within 1 month.
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