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Myfico credit card simulator

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Valued Member

Myfico credit card simulator

Is the MyFico credit simulator on myfico.com pretty accurate?  Right now my only credit card balance is $9,275.  I have several other cards but my Navy Federal card is the only one carrying a balance.  It's saying that if I pay down by $200 then my Eq score will go up 15 points.  Does that sound right?  I would love it but it just seems unreal.  

Message 1 of 6
5 REPLIES 5
Valued Contributor

Re: Myfico credit card simulator

No. Every profile is different and therefore every profile will respond differently to changes. Don’t put any faith in simulators.


Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 2 of 6
Valued Contributor

Re: Myfico credit card simulator

Depending on your limit, paying $200 might drop you through a scoring threshold, which easily COULD gain you those points, but I would chalk that up to coincidence.


Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 3 of 6
Valued Member

Re: Myfico credit card simulator

$10k is my limit.
Message 4 of 6
Valued Contributor

Re: Myfico credit card simulator

Nope, no thresholds crossed. You’d go from about 93% to 91%. The maxed out threshold is 88.9%. If I were you I’d pay your card down as far as possible and soon. At the least get below 87%, farther if possible. You don’t want to carry balances at that percentage for long.


Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 5 of 6
Established Contributor

Re: Myfico credit card simulator

Yes, certainly getting below 90 percent is ideal. But try to pay more if you can

 

Message 6 of 6
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