How accurate is myFICO Score Simulator?

[racer-x]

I'm curious to see in the next few days just how accurate the score simulator here is.

I paid down my utilization to 3.6% from 51% with a total available credit of $19.7K.   It was a lump sum payment to a Cap One account that shows a $15K CL on all my reports.  It's the longest active account and has the highest CL.

Score Simulator says by paying a lump sum of $7500 on my total credit balances, my EQ will go from 704 to 734-774.  I'm willing to settle for a 720, but dayum, is it possible that I really could hit 750?

EQ is clean as can be.  1 inquiry.  Oldest account 5 yrs.  AAoA, 1 yr. 

This has been the longest month in the past 10 yrs. of my life.....lol.

[bettercreditguy1]

For myself, it is conservative on the low side. I have found with my profile, the middle or a little higher is where I end up. If you look out to one year or longer, it is even more conservative because it factors the possiblity of some late payments or new debt load.

[Scuba]

I have not found it to be verry accurate.

[loviedovie]

I was wondering the same thing- for me it predicted that my score would rise 80 points when I pay down my cc balances, which were only at 1,500 out of a 3k limit. Such small beans, not sure how it could raise so much? It did say that that would be if I paid the balances down over the next 24 months. I usually pay off in total soon after charging so maybe this was assuming I would carry the credit for a while...

[Anonymous]

The score simulator is factoring in the aging of accounts and credit history along with balance reductions. So it all depends on what time frame you tell it the action will occur in. In the case of a 24 month time frame then it is assuming a clean history and no new accounts going forward so that is factored in the projected score rise. I have found that in my case the simulator is correct in the short term (1 -3 months) but the score change is toward the lower end of the estimate. In a longer term such as 2 years I haven't been able to verify anything because there are always changes to my report it does not take into account.

[racer-x]

Well, my EQ went up to 714 a few days after I started this thread. 

Today, my big drop in utilization was reported across the board...down to 4% from 50% on $20K CL.

EQ is now 744, +30.  So I got the minimum bumpage that the simulator, 'simulated'.  Simulator ranged from 30-70 pt. jump could/should happen.

myFico TU up 20, EX/experiandirect up 21.

I'll take it!