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Regular Contributor
kims
Posts: 212
Registered: ‎06-30-2007
0

How accurate is the FICO simulator?

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‎07-12-2007 05:01 PM

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...

 

 

911 Operators....America's Lifeline!
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Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007
0

Re: How accurate is the FICO simulator?

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‎07-12-2007 05:17 PM

The EQ Fico simulator has been very accurate with each prediction for me so far. Havn't tried the one from MyFICO.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
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Established Contributor
trinigal
Posts: 578
Registered: ‎06-18-2007
0

Re: How accurate is the FICO simulator?

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‎07-12-2007 05:20 PM


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...

 

 


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!
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Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007
0

Re: How accurate is the FICO simulator?

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‎07-12-2007 08:13 PM

Use the estimator as a guide only. Don't expect total accuracy.
Message 4 of 5 (6,072 Views)
 
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Senior Contributor
smallfry
Posts: 4,834
Registered: ‎04-20-2007
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Re: How accurate is the FICO simulator?

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‎07-13-2007 01:56 PM


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



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


Bottom of the range is most likely outcome. YMMV.
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