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Credit simulators?

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New Contributor

Credit simulators?

Playing around on various simulators such as on experian, Transunion, CS and so on, I notice that nothing I do on there seems to make that much difference. For example, make all payments for 24 months, I click the recalculate button expecting something...anything...but nothing. I can lower my simulated score by applying for more loans but can't get it to go up. Am I locked in at 632 for life? Has the simulators been accurate or even close for anyone else that was trying to dig themselves out?

Message 1 of 9
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Moderator Emeritus

Re: Credit simulators?

Simulators are just that. Take with a grain of salt. And remember, it is just a snapshot in time based on today's (or you must recent score\report) factors. It sounds like perhaps the simulator is not taking account the certain items on your reports that are keeping your score down. For example, if you have a 120 day late, playing with the balances or new credit areas may not matter much as that derog still holds lots of weight.

 

Can you elaborate why the score is 632? 

Message 2 of 9
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Senior Contributor

Re: Credit simulators?

Ignore credit simulators - they cannot take the whole of your profile into consideration and are generally wildly inaccurate.

If you need help fixing your credit report/score in general - post your accounts with limits and open dates and DOFDs (if derogatory) in this forum and many people can help you come up with a plan of attack to fix things.  If you need help trying to hit a certain level, I would go to the FICO Scoring forum and read up the interesting data they have there.

If you pay everything on time for 24 months and open no new accounts, your score might be awesome.
But we don't know the entirety of your profile - you might have derogatories that are holding down your score or not.




EQ: 792 | EX: 785 | TU: 781 | Accounts: 2/6 5/12 10/24
Happy practitioner of AZE6or7or8
Message 3 of 9
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Regular Contributor

Re: Credit simulators?

IVE noticed on my report with a charge off and Collection, that pretty much nothing will change. do yo have these on your reports?

 

 

FICO 6.2019

TU - 797
EX - 779
EQ - 766
Message 4 of 9
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Super Contributor

Re: Credit simulators?

The best simulators around are all the fine folks here. As @calyx said. Post your accounts with credit lines, balances and lates reporting and there's more than enough people here to help you get to where you need or want in time.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 5 of 9
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Contributor

Re: Credit simulators?

Simulators are WORTHLESS!! Case closed...

 

I did one I think it was on CreditKarma....Entered that I would pay all bills on time for 12 months, lower my debt by $1200 and hit simulate and it said my score would lower by 7 points, hahaha...

 

Just read these forums, use some common sense and pay down debt....Everything will workout ;-)

Message 6 of 9
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Super Contributor

Re: Credit simulators?

I was driving down a street once and could swear I saw a credit simulator on the side of the road, but it was just a bag of trash.  The two resemble one another greatly.

Message 7 of 9
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Moderator Emeritus

Re: Credit simulators?


@BrutalBodyShots wrote:

I was driving down a street once and could swear I saw a credit simulator on the side of the road, but it was just a bag of trash.  The two resemble one another greatly.


+1 Smiley Happy

Message 8 of 9
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Frequent Contributor

Re: Credit simulators?

Any simulators I have used have always focused on improvements based on utilization being low and having no missed payments.   

 

Of cource other factors are in there like length of credit and AAoA but given my profile.....the sims always just like me better for being under 10 utilization and nothing else matters.....  Cue the metallica.....   nothing else maaattttttteerrrssssssssssssssssssssssssss

 

 

Stay Liquid My Friends...


Starting Score: F8 3xx
Current Score: F8 789
Goal Score: F8 800


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