02-09-2013 04:49 PM
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.
02-09-2013 08:34 PM
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.
02-10-2013 05:58 AM
02-10-2013 09:12 AM
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
02-10-2013 12:00 PM
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..
02-10-2013 12:39 PM
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.