I would LOVE to get a good interchange on this topic. I have, sometimes, been a lemming FICO score chaser. But seals, with big tusks, lead lemmings to slaughter. When I sat and pondered, I realized that future projections of current and short term actions are what FICO is all about. Today's FICO is a measure of creditor's willingness to take our money. But today's FICO is not a measure of our, the consumers', future worthiness unless the current FICOs can be projected with simulated calculations. If not, we are lambs to the slaugher.
So if the FICO orgasm of today is but an excuse to chase new debts, isnt FICO trying, in sometimes stupid ways, to tell both we and our creditors of some carefully thought out thoughts? And today's FICO can lead to tomorrow's disaster. So back to the point. I want to develop a projection tool that gives a comprehensive, albiet simplified, idea of what our actions today wll mean to our FICO in the future. The current FICO simulators avaiable on-line are deceptions, for they promise score increases based on only one category, without showing the comprehensive impact that those actions have on all categories, and thus future FICO scores.
I just dont know how to go about this. There was a previous thread on here directed to FICO score simulation that has now disappeared. I have a first cut at a spreadsheet that is, while admittedly very simple, at least provides a starting point for the views of others on the intricacies of how each category is mathematically calculated.
But I cannot simply, as far as I know, post what I have done to date on here.
So I only offer you my email, and if you are iterested in seeing my speadhseet, or presenting others, I will be a focus.
Reply soon, for experience has shown that the ether rapidly sucks up attempts to collaborate.