Understanding FICO® Scoring

[Carlile92]

So I pulled a score powerreport today and have 689 fico and I ran it thru the fico simulator with best action and it said if I paid all cc balances down over next 24 months that my score will range for 799 to 839 is that very accurate and is that really possible with such short account history to be honest would not bother me to have a 760+ 800 club is something that will come with time

[pizzadude]

What is your AAoA now ?  Do you have any negatives showing on your report at all ?

[Carlile92]

Nope zero baddies and aaoa is 6 months with oldest account 4.1years that's what makes me so suprised can you really achieve that kind of fico being 19 and after 24 months 21 ....... I mean how crazy would that be 21 year old with 800+ fico score almost 850 I think I could achieve the perfect fico score in time and good management

[pizzadude]

Well I really don't have any experience with the simulator, maybe it is a bit optimistic.

But with a totally clean report, and several years worth of positive age, I'm sure you could be well into the 700 club....

[bdp02]

I think it has to be rather optomistic, and possibly not entirely calculated based on extrapolated details.

But I guess it's possible.  My last EQ FICO came in at 689 and the simulation optimizer produced the same range you reported.

My stats though are starkly different:

oldest account 14.x years, current AAoA 5 yrs, util 25% (the wife exiting the workforce to stay home with children hit our credit like a steamroller!)

Went from high 700's to high 600's low 700's in no time!  Now we're focused on paying down that run-up in util and looking forward to the 800 club in a year or two!

[fused]

I have never found the score simulator to be that accurate. I have clean reports, low util, a couple of inqs, no lates, a credit history nearing 24 years, AAoA of 8 years and my scores are below 800. I was over 800, but I had to get a new car. The new balance, inqs and my AAoA changed. To the OP, I don't mean to be cruel, but I doubt 839 would happen so soon. I agree with pizzadude.

[AndySoCal]

Most of time the results will be isomewhere in the  middle of the range.  With the time frame given by the simulator it is tough to be more precise than the range given.

[trumpet-205]

My AAoA is 8 months with bunch of fresh accounts. FICO score provided by AMEX told me I'm already in 700 club, 717.

[Duke-of-Earl]

Sorry to have to join the negative chorus.  Actually, I've never found the simulator to be worth much at all.  Seems like something that was added to counteract that feeling of "You mean all I get are these three digits after what I paid?".  Not disputing the value of the FICO score itself, but the sim seems pretty rudimentary.  Invariably tells me I should pay my bills on time, and maybe my score will go up by 20 points.  Or zero points.  Well duh, I've been doing that for maybe forty years already, are another couple really gonna give me a boost?  (No, it didn't happen.)

Anyway, hope it works our for you.  That would be cool!

[stone4779]

Well I put in my info and it says 730-780

But I actually have a 796 Fico on TU

and thats with new accounts and 3 inquiries

so it could be off the other ways too...higher