topic Re: ou'Re: FICO Simulator in Rebuilding Your Credit

FICO Simulator

CS800 — Wed, 25 May 2011 01:03:37 GMT

Strange question.

Currently my EQ FICO is 623 ans on my report it lists $1010 as revolving balance on a $1900 limit

So I used the simulator and put that I pay off the whole balance this month. So it came back and said score will be between 633 and 663

I then put $800 instead and the sim tells me score will be between 633 and 673.

So according to the sim if i pay less,i have a chance to get a higher score increase. Does that make sense?

Re: FICO Simulator

Anonymous — Wed, 25 May 2011 01:08:45 GMT

I'm still a noob at this, but I remember reading on Credit Karma that a 0% use is worse than 1%-20%.

Re: FICO Simulator

John060675 — Wed, 25 May 2011 01:47:22 GMT

Yes, it is true, and in fact it just happened to me. I had over 50% utilization 2 months ago and paid my balance down below 2%. From this I saw a 10 point increase. Then I paid off my balance in whole (0% utilization) and my score went down 5 points this month.

If you read on the forum a lot of posts deal with this. I never really noticed it before on my score until this month.

Re: FICO Simulator

CS800 — Wed, 25 May 2011 02:10:04 GMT

So i played around with the sim and it seems like i need to pay 995 and leave a balance of $15 to get the full 633 to 673 range.

This balance is on two cards that have different end statement so hopefully, that works out for me ot i'll have to put some gas using the card.

Re: FICO Simulator

Anonymous — Wed, 25 May 2011 02:41:02 GMT

Does anyone know how accurate the FICO simulator is.

ou'Re: FICO Simulator

fot1 — Wed, 25 May 2011 14:47:06 GMT

You'll see your best score with one card reporting <%9 and others at $0.

Re: ou'Re: FICO Simulator

Anonymous — Wed, 25 May 2011 04:21:31 GMT

@fot1 wrote:
You'll see your best score with one card reporting >%9 and others at $0.

Don't you mean < 9%? It would be easy to get those symbols turned around.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: FICO Simulator

CS800 — Wed, 25 May 2011 13:28:19 GMT

I'm really hoping that since I'm at 623 and the sim said 633 to 663, that I at least get a 20 pts boost. That would put me above 640 for all 3. Well I'm only going by my EX plusscore which is 644.

Re: FICO Simulator

MBOhio2 — Wed, 25 May 2011 14:15:24 GMT

Allegedly the FICO simulator is very accurate. I think other posters made this clear, but you should keep all credit cards at $0, except one, which should have less than 9%. Do not split up the less than 9% between 2 cards as that will hurt you. Only one card should have the really small balance.

Re: ou'Re: FICO Simulator

fot1 — Wed, 25 May 2011 14:46:45 GMT

Sorry I did get that turned around.. I need to hire a proof reader..