topic Re: FICO STIMULATOR in Understanding FICO® Scoring

FICO STIMULATOR

Anonymous — Tue, 02 Feb 2010 01:03:55 GMT

My question is how acturate is the FICO Stimulator? Thanks for your feedback.

Re: FICO STIMULATOR

marty56 — Tue, 02 Feb 2010 01:33:05 GMT

IMHO its kinda like a weather report and for my credit profile, mostly useless. A better option would be to know when to pull your FICO score and what actions would give the most bang for the buck. Knowing when each CC reports a balance and how the aging of derogs and accounts, would give you the best indication when to pull your FICO score to get the most for your money.

Re: FICO STIMULATOR

Anonymous — Fri, 05 Feb 2010 20:04:15 GMT

I like the FICO Estimator better because you can account for many factors, such as "what if I get a GW/PFD" or "what if this CA is gone" or "what if I lower my balances, but I apply for a new account also"

Simulator and Estimator are only ranges, but they do tend to accurately predict the range. IME, I have usually been in the low end of the range they show....never mid to high end...but that is me.

(Estimator link in my sig line)

IMO

Re: FICO STIMULATOR

Anonymous — Sat, 06 Feb 2010 04:11:53 GMT

Okay, it's not really that late here, but I'm feeling the pain of a very long and grueling week. And it is Friday night.....so I'm really enjoying the concept of a FICO STIMulator. I would pay real cash for that baby!

Just having fun. And I agree with TXJohn's assessment. The Estimator is better for me than the SIMulator. And when they come up with a STIMulator, I'm definitely first in line.

Good question OP. Thanks for letting me give you a little ribbing.

Re: FICO STIMULATOR

MattH — Sat, 06 Feb 2010 19:59:16 GMT

@Anonymous wrote:
Okay, it's not really that late here, but I'm feeling the pain of a very long and grueling week. And it is Friday night.....so I'm really enjoying the concept of a FICO STIMulator. I would pay real cash for that baby!

Just having fun. And I agree with TXJohn's assessment. The Estimator is better for me than the SIMulator. And when they come up with a STIMulator, I'm definitely first in line.

Good question OP. Thanks for letting me give you a little ribbing.

LOL! How about a FICO Stimulus package :-)

Re: FICO STIMULATOR

Anonymous — Sat, 06 Feb 2010 23:56:14 GMT

@Anonymous wrote:
I like the FICO Estimator better because you can account for many factors, such as "what if I get a GW/PFD" or "what if this CA is gone" or "what if I lower my balances, but I apply for a new account also"

Where do I find the "what if I get a GW/PFD part? I'm not finding that piece anywhere. Thanks!

Re: FICO STIMULATOR

Anonymous — Mon, 08 Feb 2010 17:01:46 GMT

@Anonymous wrote:
@Anonymous wrote:
I like the FICO Estimator better because you can account for many factors, such as "what if I get a GW/PFD" or "what if this CA is gone" or "what if I lower my balances, but I apply for a new account also"

Where do I find the "what if I get a GW/PFD part? I'm not finding that piece anywhere. Thanks!

By not including the late/CA etc in the criteria. The Estimator will ask you how many accounts you have, how many recent accounts, how long you have had your oldest, total dollar amounts, lates, etc. You only put in the relevent information for the scenario you want to test.

So, if you are considering opening a new account and putting a balance on it, you can answer the questions on how recent new accout was opened and amount of total balances to include this as the "what if."

Where it asks about lates, BK, etc. you can say yes or no....etc.

Re: FICO STIMULATOR

Anonymous — Mon, 08 Feb 2010 21:14:49 GMT

Ah ha! That makes sense. My simple mind was looking for a button to click! lol

Thanks!