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"Simulator" accuracy

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Deco0406
Established Member

"Simulator" accuracy

How accurate is the simulator on this website. I have about 20 000.00 in cc debt and it says if I pay everything to a zero ballance my score will go up almost 100 points. Do you think that is true?
Message 1 of 4
3 REPLIES 3
RobertEG
Legendary Contributor

Re: "Simulator" accuracy

The FICO simulator always takes into account plural scoring categories, while only allowing you to input one.  This is for the obvious reason of preventing reverse engineering of their scoring algorithm.  The 100 pts estimate you see is for several months into the future, taking into account percent utilication reduction as well as assuming timely payment of all accounts over that period, and aging of existing accounts.  It is faily accurate, but does not show you any immediate impact.
Message 2 of 4
marty56
Super Contributor

Re: "Simulator" accuracy

You would get a significant score boost by going from 20k of CC debt to 0.  Plus it will protect you from AA and look great on a MR.

1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 3 of 4
Tons_of_Debt
Established Contributor

Re: "Simulator" accuracy

Do you think paying down will protect from AA? I've heard tons of stories as of late where people paid down balances only to have CLs chopped.
08/01/2008 - 472 EQ; 523 TU; 454 EX
03/01/2009 - 574 EQ
08/08/2009 - 648 EQ
01/27/2010 - 671 EQ
07/04/2010 - 713 EQ
01/05/2011 - 730 EQ
05/14/16 - 762 EX
Message 4 of 4
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