cancel
Showing results for 
Search instead for 
Did you mean: 

Is a 90 pt increase a lot ?

tag
Andy77
Valued Contributor

Is a 90 pt increase a lot ?

 

 

So gonna be paying some debt and my scores now are 627...simulator says will go to 714.

 

Is that considered a large increse that should open up more doors....never had a score that high with my , now, 7 yr old BK on my report....

 

 

 

Message 1 of 10
9 REPLIES 9
RonM21
Valued Contributor

Re: Is a 90 pt increase a lot ?


@Andy77 wrote:

 

 

So gonna be paying some debt and my scores now are 627...simulator says will go to 714.

 

Is that considered a large increse that should open up more doors....never had a score that high with my , now, 7 yr old BK on my report....

 

 

 


Um, yeah!!

 

Just be careful with the expectations of the simulator itself.



Total CL: $321.7kUTL: 2%AAoA: 7.0yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k | NFCU-45k | AMEX-42k | DISC-40.6k | PENFED-38.4k | LOWES-35k | ALLIANT-25k | CITI-15.7k | BARCLAYS-15k | CHASE-10k

Message 2 of 10
Andy77
Valued Contributor

Re: Is a 90 pt increase a lot ?

 

 

Could it be THAT off ?  If so I hope its low....LOL...

 

 

Here is where I am at ...97k utilization 3 % remaining 

 

Gonna pay off to get down to below 30 % (97k in debt, paying off 73,500, bringing me down to about 23k from 97k)

 

 

 

 

 

Message 3 of 10
Anonymous
Not applicable

Re: Is a 90 pt increase a lot ?

YES!  Big difference!  Woman Very Happy  The simulator has been pretty darn accurate for me.  And sometimes my score has jumped unexpectedly.  Congrats!

Message 4 of 10
Andy77
Valued Contributor

Re: Is a 90 pt increase a lot ?

 

 

If it is accurate, I hope I get some auto CLI's....I mean when a creditor sees someone pay off 73k in one months time, that is pretty good.

 

Do you think I COULD get an auto CLI  ?

 

 

Message 5 of 10
Anonymous
Not applicable

Re: Is a 90 pt increase a lot ?

If the time is right, they can give out auto cli's.  I certainly had my share.  Don't forget if you have some cards with a credit limit increase button that does sp's, take advantage of it.  That's how I get a few of my cl's up there. Smiley Wink

Message 6 of 10
grillandwinemaster
Valued Contributor

Re: Is a 90 pt increase a lot ?


@Andy77 wrote:

 

 

If it is accurate, I hope I get some auto CLI's....I mean when a creditor sees someone pay off 73k in one months time, that is pretty good.

 

Do you think I COULD get an auto CLI  ?

 

 


They may not "see" you paying off 73K in one month. Fico scoring has no memory. The scoring benefit is coming from your drastic lowering of your uti%. 


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
Message 7 of 10
takeshi74
Senior Contributor

Re: Is a 90 pt increase a lot ?

90 is significant but don't rely on simulators and keep in mind that it's never just about score.  Don't just obsess over the numbers and focus on your report data.

 


@Andy77 wrote:

Here is where I am at ...97k utilization 3 % remaining 

 

Gonna pay off to get down to below 30 % (97k in debt, paying off 73,500, bringing me down to about 23k from 97k)


What % is 97K?  97K to 23K sounds like it should yield a significant improvment.  It's not just a matter of scoring.  It's also a matter of risk assessment for the creditor and avodiing adverse action on your part.  It's also a significant amount of debt reduction.

 


@Andy77 wrote:

Could it be THAT off ?


There isn't just one scoring model used by creditors.  FICO doesn't have just one model.  Even if the simulator is very accurate it cannot be accurate for all models.

 

Learn to assess your report data versus just fixating on scores.  You will need and want to be able to do this in the long run.

 


@Andy77 wrote:

If it is accurate, I hope I get some auto CLI's....I mean when a creditor sees someone pay off 73k in one months time, that is pretty good.

 

Do you think I COULD get an auto CLI  ? 


We can't guarantee anything.  We don't have access to the underwriting criteria for any creditor and that criteria is not identical for all creditors and products (e.g. a given credit profile could see a CLI with one creditor/product and not with another).  If your revolving utilization is preventing you from getting CLI's and you drastically improve your revolving utilization then, yes, you could get CLI's.  However. revolving utilization isn't the only thing that matters.  It falls under Amounts Owed below for FICO scoring:

http://www.myfico.com/crediteducation/whatsinyourscore.aspx

All those other factors matter as well.  Additionally, FICO scoring is only one consideration for a creditor.  Your entire credit profile and your income matter.  If there are other majors issues with your credit profile then those may prevent you from getting CLI's as well.

 

I would guess that a drastic improvement with revolving utilization should help you.

Message 8 of 10
MTSN
Regular Contributor

Re: Is a 90 pt increase a lot ?

My score jumped ~80 points when I lowered my util from around 30% down to 6% recently which put me back in the 800s. I had an interest free period on my Amex which I took advantage of for a while after we bought a new place which was dragging my score down. 

Message 9 of 10
Anonymous
Not applicable

Re: Is a 90 pt increase a lot ?

I personally think simulators are bogus.  They go off of very limited pieces of data when credit profiles are made up of hundreds of pieces of data.  I've never had a simulator get any closer than 40-50 points of my actual scores.  I know others have had favorable results with them. 

 

Paying down utilization can make a big difference for some, less for others.  I dropped my total utilization down from around 44% to 5% recently and am lucky if I saw 3-5 points of an increase on each bureau. 

Message 10 of 10
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.