FICO score estimator

[Anonymous]

Since the score simulator doesn't have an option of seeing the score change if you get a deletion or something falls off, I decided to play with the score estimator to get an idea of where I could be once some baddies come off and I get another credit card.

I ran it with no chargeoff or collection (both should be coming off soon), no late on my SL (hopefully SM will fix it since it's bogus), and 2 recently opened credit cards with low util (0-9%). It gave me an estimate of 730-780.

My highest score right now is TU at 678. It has no chargeoff, one collection, 4 school loans (one with the bogus late) and a $1500 CJ card with a 0 balance. Could I really reach the 700s by getting the collection off, getting the late removed, and adding one more card?

[Anonymous]

blondie, good question. If you read the 'fine print' in the score stimulator it says: if you make these payments for 2 years(operative term) then you can possibly see a score of 730-780. I can see that if you make those payments for 2 full years then yes.

And of course you stand a much better chance by getting the collection and c/o off.

[Junejer]

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@Anonymous wrote:
Since the score simulator doesn't have an option of seeing the score change if you get a deletion or something falls off, I decided to play with the score estimator to get an idea of where I could be once some baddies come off and I get another credit card.

I ran it with no chargeoff or collection (both should be coming off soon), no late on my SL (hopefully SM will fix it since it's bogus), and 2 recently opened credit cards with low util (0-9%). It gave me an estimate of 730-780.

My highest score right now is TU at 678. It has no chargeoff, one collection, 4 school loans (one with the bogus late) and a $1500 CJ card with a 0 balance. Could I really reach the 700s by getting the collection off, getting the late removed, and adding one more card?

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Blondie, my guess would be yes. I have read about some incredible score hikes with the removal of major derogs. MV had over 50 on average points after getting his last collection removed.

My score simulator for EQ just showed that if I pay down my CC (just got and biffed it already) in the next month, that my score increase would be between 60-100 points. I will take it, b/c that would put me in the 800 club, at least momentarily.

[haulingthescoreup]

One fun thing about the estimator is that it's not saying this will happen in 24 months; it's saying here's where you'd be NOW if this, that, and the other happened.

Its projections are broader than the sims (I should probably say even broader), but I like that you can throw in multiple variables.

[Junejer]

HTSU, congrats on getting your wish list completed.

[Junejer]

Haulin', where is the score estimator found again?

[Anonymous]

I'm not haulin' but....

http://www.myfico.com/FICOCreditScoreEstimator/Default.aspx

[haulingthescoreup]

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@Junejer wrote:
HTSU, congrats on getting your wish list completed.

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Thanks--now I'm trying to figure out where to redirect the energy!

( * ...sound of house that is so neglected that it looks vandalized, calling my name... * )

[Junejer]

Thanks Cheddar. And, congratulations on the upgrade to Mod. When did that happen?

[Anonymous]

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ByrdMan wrote:
Thanks Cheddar. And, congratulations on the upgrade to Mod. When did that happen?

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Thanks.  Just happened yesterday.