Creditwise simulator stupidity

[FICOdawg]

Messing with the Creditwise simulator, it makes an erroneous assumption that increasing a credit limit means a HP so it does not reflect improved utilization and the SP. 

I'm sure others have recognized this fault.  

[GreatLife]

I noticed it, also there's no option to simulate a balance increase.

[AndySoCal]

@FICOdawg Soft pull CLI's is not 100% across the board. I recently asked Redstone FCU what the maximum credit limit was and what if the inquiry was going to soft or hard. I knew from a post on the forum what the answer was. I asked  to see if anything changed. The answer came on the inquiry was a hard pull.

From a simulator perspective it is better to be wrong on the low side rather than the other way. If it is wrong on the high side that will cause complaints etc.

[Zoostation1]

Thankfully I have no HP for CLI cards.  The smaller bank I use for my checking and one of my savings accounts does HP for all CLIs.  At one point I was going to apply for their CC thinking they may be a little more generous (they're not big but don't farm out their cards) and told them forget it when they said it would be a hard pull for CLIs.

[FicoMike0]

I just tried it.

I tried cli of $10000, it said 812 to 812, no change.

I tried aging 6 months, it said 812 to 842. I think that's too optimistic.

I tried new card, $10000 cl, it said 812 to 812, no change.

[FICOdawg]

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@AndySoCal wrote:

@FICOdawg Soft pull CLI's is not 100% across the board. I recently asked Redstone FCU what the maximum credit limit was and what if the inquiry was going to soft or hard. I knew from a post on the forum what the answer was. I asked  to see if anything changed. The answer came on the inquiry was a hard pull.

From a simulator perspective it is better to be wrong on the low side rather than the other way. If it is wrong on the high side that will cause complaints etc.

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With little effort they could improve the simulator.   Have it indicate both hard or soft pull.    The average person playing with the simulator is probably also on MyFICO

[FICOdawg]

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@FicoMike0 wrote:

I just tried it.

I tried cli of $10000, it said 812 to 812, no change.

I tried aging 6 months, it said 812 to 842. I think that's too optimistic.

I tried new card, $10000 cl, it said 812 to 812, no change.

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I get a 5 point bump for aging 6 months.   I get a 50 point bump for getting my utilization below 9%.

TU score right now is 766.  Let's see if I'm an 821 in January as I'll have 0 hard pulls and my utilisation should hopefully be 1%.   

[FicoMike0]

Maybe the SIM is smarter than I give it credit for. During the next six months, if I stay in the garden, both my youngest hp and account will pass 12 months old. That would account for most of the +30 points.

[FICOdawg]

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@FicoMike0 wrote:

Maybe the SIM is smarter than I give it credit for. During the next six months, if I stay in the garden, both my youngest hp and account will pass 12 months old. That would account for most of the +30 points.

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It was eluded to here that <12 month accounts incur a penalty and you get the points back once you are out of the penalty box.    In my case it says once I'm out of the 12 month trap door I'll get +5 points.    If this is the case then it's not all or nothing and you get points back incrementally during the 12 months.    I lost 25 points when I got my new car loan.        We shall see but appears your sim conflicts with mine.  My only HP is tied to my car loan I took out early last December and zero HPs/applications since then.