topic Re: Credit Karma Score Simulator(CKSS) in Understanding FICO® Scoring

Credit Karma Score Simulator(CKSS)

joeyv1985 — Wed, 25 Mar 2020 01:02:21 GMT

All,

Playing around with CKSS, and it currently shows a CL of $30,050 across all credit cards and a $5,225 Current Balance. It seems like if I pay down the balance to $1,175, my CS will increase 23 points. Anything below that my score will actually drop! How accurate is this model? It shows that if I keep my CU between 3.91% and about 7.3%, I'll see the biggest increase in my CS. Sorry if this has been discussed.

Re: Credit Karma Score Simulator(CKSS)

dragontears — Wed, 25 Mar 2020 16:50:31 GMT

@joeyv1985 wrote:
All,

Playing around with CKSS, and it currently shows a CL of $30,050 across all credit cards and a $5,225 Current Balance. It seems like if I pay down the balance to $1,175, my CS will increase 23 points. Anything below that my score will actually drop! How accurate is this model? It shows that if I keep my CU between 3.91% and about 7.3%, I'll see the biggest increase in my CS. Sorry if this has been discussed.

Pretty much all simulators are garbage and completely inaccurate

Re: Credit Karma Score Simulator(CKSS)

FireMedic1 — Wed, 25 Mar 2020 17:14:11 GMT

Your at 17 +/- util %. Get that below 8.9% and you'll see a nice bump.Simulators are false hope as @dragontears posted.

Re: Credit Karma Score Simulator(CKSS)

joeyv1985 — Wed, 25 Mar 2020 17:36:43 GMT

@FireMedic1 wrote:
Your at 17 +/- util %. Get that below 8.9% and you'll see a nice bump.Simulators are false hope as @dragontears posted.I pa

I paid all my credit cards a couple of weeks ago to 0 Utilization. Currently at about $500. We'll see what happens when the get reposted to the credit agencies.

Re: Credit Karma Score Simulator(CKSS)

AllZero — Wed, 25 Mar 2020 18:46:04 GMT

I would recommend reading the below from ABCD2199
The Truth about Credit Card Utilization
My 11 Rules to Credit Rebuilding
FICO Score: What to pay down first?

Re: Credit Karma Score Simulator(CKSS)

Trudy — Wed, 25 Mar 2020 19:13:39 GMT

You will likely lose points as FICO penalizes for all zero balances. Credit Karma's Vantage score may reward you but it's a Vantage score which is used by less than 10% of creditors, if that. Use CK for monitoring the activity on your accounts which makes it valuable since it's free. Disregard the scores. You get recommendations from CK based on your CK score but that's not guaranteed because the lender will look at your FICO score to make a decision, which could be extremely higher or lower than a Vantage score. Different metrics, different outcome. CK is free and why they peddle credit.

And simulators do not appear to take into account all of your information; current ages, current derogs, etc...anything specific to you other than UTL. This is why it is mostly thought simulators can't create an accurate prediction. Many call it trash.

Re: Credit Karma Score Simulator(CKSS)

joeyv1985 — Wed, 25 Mar 2020 19:45:34 GMT

Thank you for that.