FICO simulator questions

[creditgirl]

The score simulator on myfico says that by paying a credit card with a $400 credit limit that has a balance of $618 down to $318 in one month will give us between 10 and 50 pts increase. This card is closed, but has perfect payment history (long story behind how this happened).  That's a pretty big range and I am wondering if the pts usually fall on the low or high end in reality?

The card is actually dh's but it still shows on my cr because I'm an authorized user (I don't know what effect it's having with the changes in the law).

Thanks!

Credit girl

[llecs]

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@creditgirl wrote:

The score simulator on myfico says that by paying a credit card with a $400 credit limit that has a balance of $618 down to $318 in one month will give us between 10 and 50 pts increase. This card is closed, but has perfect payment history (long story behind how this happened).  That's a pretty big range and I am wondering if the pts usually fall on the low or high end in reality?

The card is actually dh's but it still shows on my cr because I'm an authorized user (I don't know what effect it's having with the changes in the law).

Thanks!

Credit girl

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The simulator gives a 40 point range. EQ, assuming this is EQ vs. TU, tends to frown on maxed out CCs more than the others. I'd guess at least 25 points if you paid it off and if you don't have others like this. I had a CC report over the limit once and suffered a significant drop like that.

You would want to PIF ASAP.

[creditgirl]

The simulator gives a 40 point range. EQ, assuming this is EQ vs. TU, tends to frown on maxed out CCs more than the others. I'd guess at least 25 points if you paid it off and if you don't have others like this. I had a CC report over the limit once and suffered a significant drop like that.

You would want to PIF ASAP.

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Thanks! I don't know that I will PIF right now, but I am paying $300 this month and the remainder next month. This card has been reporting this way for well over a year! The good thing is that we are still getting the good payment history from it. I am hoping we can get at least 25 pts. If we get that dh's EX score will hit the 700 mark and his other two won't be far behind!!

I'll post back once it's paid to let you know what the increase was. I wish the range on simulator was a bit smaller to give a better idea of what the points would be, but I guess that's asking too much !

Thanks again!

creditgirl