How accurate is the FICO simulator?

[Anonymous]

Anyone actually seen there #'s jump up by following suggestions on the simulator?

With DH's CCCU approval for a $500 TL simulator shows his score could possibly go from 589 to 639/669 ~ does that seem possible??

He's never had a credit card before.  I just can't fathom one little $500 TL increasing his EX FICO that much!   Would be GREAT if it really happens...

[Anonymous]

The EQ Fico simulator has been very accurate with each prediction for me so far. Havn't tried the one from MyFICO.

[Anonymous]

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kims wrote:

Anyone actually seen there #'s jump up by following suggestions on the simulator?

With DH's CCCU approval for a $500 TL simulator shows his score could possibly go from 589 to 639/669 ~ does that seem possible??

He's never had a credit card before.  I just can't fathom one little $500 TL increasing his EX FICO that much!   Would be GREAT if it really happens...

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I would think that because he's just getting his first CC, he's getting points for "type of credit".  By getting the card, he's "diversifying" his credit portfolio.

Yaaaay! Hubby!

As for how accurate the simulator is, I couldn't say for sure, but we keep our fingers and toes crossed!

[Tuscani]

Use the estimator as a guide only. Don't expect total accuracy.

[smallfry]

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@Tuscani wrote:

Use the estimator as a guide only. Don't expect total accuracy.

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@Tuscani wrote:

Use the estimator as a guide only. Don't expect total accuracy.

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Bottom of the range is most likely outcome. YMMV.