@BeeH11 wrote:Hi!
Is the myFICO score simulator pretty accurate? What have you all found to be the case? I am going to be paying A LOT of my credit card debt off within this month and I was playing around with the simulator and all 3 scores jumped 100 points! I am thinking this is too good to be true. What have your experiances been? Have they been pretty accurate/close?
Thanks!
I've found that the simulators are pretty weak...at best. There's a lot of things they don't take into account, and in general, when it's told me that my score would increase by xx amount, it hasn't. I actually experimented with it last month and proved it to be completely useless. It told me that if I paid off $655 of my revolving debt that my score would increase by almost 20 points.... in reality, I paid off the $655 and my score DROPPED 16 points!!
my best advice... paid down to zero as many cards as you can... and keep one/two open, with very low balances. FICO 08 appears to like multiple cards with balances for some reason (my experience). To give any good advice, I would need a lot more info on what debt you have and what other items are in your credit report.
My only solid advice is .... don't bank on what the simulator tells you. It's about as accurate as a magic 8 ball 
