topic Re: Check back 8/6/07. in Understanding FICO® Scoring

Check back 8/6/07. Testing the real life accuracy of the FICO Calculator.

Anonymous — Sat, 09 Jun 2007 23:36:54 GMT

My score change should have gone up 10 points because the debt % dropped due to a 200% increase in limit. Does it take 60 days before CLI's are reflected against your scores. No inquiry was added for the CLI. I was looking forward to a "quick" score change. hehe. Probably anything quick is delayed intentionally by the scoring system. Not sure, any opinions?

Message Edited by ilovepizza on 06-09-2007 04:36 PM

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Tuscani — Mon, 21 May 2007 18:45:56 GMT

ilovepizza wrote:
My score change should have gone up 10 points because the debt % dropped due to a 200% increase in limit. Does it take 60 days before CLI's are reflected against your scores. No inquiry was added for the CLI. I was looking forward to a "quick" score change. hehe. Probably anything quick is delayed intentionally by the scoring system. Not sure, any opinions?

Where are you getting 10 pts from? You can't say some event will change your score an X number of pts. CLIs generally update within 30 days, or whenever the CCC reports again.

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Anonymous — Mon, 21 May 2007 19:25:59 GMT

I was playing with numbers on the "FICO® Score Simulator" that came with Score Power through Equifax. It reflected that if my UTL dropped between a specific percentage my score would go up by 10 points. BRB, I am pulling a fresh credit report right now.

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

MidnightVoice — Mon, 21 May 2007 19:32:57 GMT

ilovepizza wrote:
I was playing with numbers on the "FICO® Score Simulator" that came with Score Power through Equifax.

The score simulator has a VERY tenuous relationship with reality

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Anonymous — Mon, 21 May 2007 19:46:14 GMT

@MidnightVoice wrote:
The score simulator has a VERY tenuous relationship with reality

I was using the simulator like a fact sheet with relations to percentages. So the only way to truly know if something effects my score is to do it and wait. I spent days calculating where my score would be if I paid off more of my debt. Is there any way other than paying off 10% each month and seeing how my score is reflected to be able to predict a score with out doing it?

Message Edited by ilovepizza on 05-21-2007 12:46 PM

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

MidnightVoice — Mon, 21 May 2007 19:47:04 GMT

More or less. The simulator (for me anyway) gives a very rough indication of what would happen in the best of all possible worlds. The chances of it being spot on are similar to the chances of the Bills winning the next superbowl.

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Tuscani — Mon, 21 May 2007 19:49:05 GMT

Did you pull a new report? Was the simulator accurate?

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Anonymous — Mon, 21 May 2007 19:51:30 GMT

Am I also correct to assume that my percentages to effect scores might be different from my next store neighbor because of history, age of accounts, quan, and CL's?

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Tuscani — Mon, 21 May 2007 19:53:13 GMT

ilovepizza wrote:
Am I also correct to assume that my percentages to effect scores might be different from my next store neighbor because of history, age of accounts, quan, and CL's?

Of course.

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Anonymous — Mon, 21 May 2007 20:22:00 GMT

@Tuscani wrote:
Did you pull a new report? Was the simulator accurate?

The simulation reflected my balance percentage with out the increase amount. Instead of paying off 3% of debt I got a % CLI to have the same effect. My balance before was over 40% and now it is below 37% to new higher limit.

Either it is not accurate, not taking my increase in to effect to prevent short term gain, or my percentages are different for my new total credit limit.

But I wonder why my Credit Monitoring did not even detect that I had an increase in CL? Shouldn't that fall under "Changes in account"? Right now, I am not sure my score is taking the CLI in to effect yet. I am calling Exuifax to find out why monitoring did not detect the CLI.

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Anonymous — Mon, 21 May 2007 21:03:35 GMT

The Equifax rep said, the simulator is pretty accurate and had I paid off 3% as the simulator indicated my score would have gone up a fast 10 points. However the Equifax rep said, because I had not made a payment on my current debt, my old debt does not reflect the new credit line percentage. The Equifax rep further said my debt is currently being scored on the way I handle the whole debt not just a percentage therefore my score did not change because a percentage change in this case did not reflect a debt decrease. And further stated new debt would be reflected towards the new percentage.

I have no idea if that information from the rep is accurate. But it sounds good. I can further prove her theory by making a payment of 3% today and see if that does in fact change my score as the calculator stated. But I won't be able to confirm the accuracy of the Fico simulator until 6/8/07 when my bank updates my report with Equifax. So we wait until 6/8/07 unless anyone else has other input.

The Equifax rep also said monitoring does not include credit limit changes in either direction.

Message Edited by ilovepizza on 05-21-2007 02:03 PM

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

MidnightVoice — Mon, 21 May 2007 21:18:08 GMT

ilovepizza wrote:
The Equifax rep said, the simulator is pretty accurate ......

And I have this bridge for sale in Brooklyn......

I have done some simulations in the past where the actual score increase was only about 0-30% of what was predicted (or, to be more accurate, -5 to 30%).

I have just done a couple of simulations on paying down credit and paying bills on time, and they do not take into account a derogatory that will have dropped off by then. So in general, I have lirttle faith in the simulator, other than as a very rough guide that usually, but not always, manages to get the direction right, and never the magnitude

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Anonymous — Tue, 22 May 2007 19:56:24 GMT

I agree. The calculators only discuss 1 specific action. The left starting number is your action 700-730, right side is the future possibilities and really have no bearing. In this case if it says 700-730, your action will give you a score of 700 if "nothing" else changed on your report over that time. However, even being, I have no clue even if it is remotely correct. But since I have done exactly what it said, we shall see if I get an "exact" 10 point increase in 3 weeks. If not, all my data that I have on percentages to limit become useless being that they are all based on this calculator.

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Anonymous — Mon, 28 May 2007 05:26:30 GMT

Payment posted. Just have to wait for them to send the update to EQ on the 8th. :-)

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Anonymous — Mon, 28 May 2007 21:31:51 GMT

Yes. My credit score went up exactly 10 points today. At least this time it was accurate. I think for the short term it might be accurate. Unless I just got lucky. I will keep watching the simulator to see if it's predictions are as accurate in the future. :-) I gained 10 points today. 800's will soon be in reach!

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

fused — Mon, 28 May 2007 22:04:14 GMT

ilovepizza wrote:
Yes. My credit score went up exactly 10 points today. At least this time it was accurate. I think for the short term it might be accurate. Unless I just got lucky. I will keep watching the simulator to see if it's predictions are as accurate in the future. :-) I gained 10 points today. 800's will soon be in reach!

high util + LUV button = lower util and higher scores

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Anonymous — Tue, 29 May 2007 03:50:18 GMT

I am going to try to lower utl again. We already know that when you lower utl scores go up. But I want to know if the fico calculator is accurate or I am just getting lucky.

I have another payment posting in 2 weeks from a different card. This will bring me to the next percentage break point where the fico calculator states another 10 point gain. That reports around 6/10 to 6/14. I will post what happens. :-)

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Anonymous — Wed, 30 May 2007 15:52:52 GMT

ilovepizza:

How did you find out what date your accounts post to the CRAs?

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Tuscani — Wed, 30 May 2007 16:12:22 GMT

Felicity wrote:
ilovepizza:

How did you find out what date your accounts post to the CRAs?

TC.. or call and ask.

Re: I got a credit line increase posted to CR to offset ballance/limit. No change in score.

Anonymous — Wed, 30 May 2007 19:11:47 GMT

@Anonymous wrote:
ilovepizza:
How did you find out what date your accounts post to the CRAs?

I pulled my credit reports every other day for 2 months. Still sometimes they report early and sometimes they report late.

Message Edited by ilovepizza on 05-30-2007 12:11 PM