How true is the myFICO credit simulator

[Camps]

Hello myfico family,

According to the credit simulator, myfico estimates that if I pay my bills on time for the next 3 months and pay off about 3,000 worth of debt, my score would increase by 75 pts for EQ, and 50 for both TU and EX. Even the CreditKarma FAKO gives a similar score with the same estimated action.

Can anyone tell me if their simulations in the past were close, or way off? I'm really trying to get somewhat respectable scores (650-ish across the board) by Thanksgiving.

[Anonymous]

It depends on info you haven’t provided. As a rule simulators aren’t very accurate but if you provide your exact score, along with each line of credit (including usage, limit, and status of current, late, etc), plus any derogs you have (how old, how much owed against what limit, age of derog, and status - collection, chargeoff, etc), we can give you an idea.

[FireMedic1]

The best simulators are live members on this forum like Devil stated. List the facts and the gang will help ya out! CK has me over 800 in 2 yrs. Yeah right with a BK.

[Camps]

Thanks! I just posted all my info in another thread.

[Anonymous]

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@Camps wrote:

Hello myfico family,

According to the credit simulator, myfico estimates that if I pay my bills on time for the next 3 months and pay off about 3,000 worth of debt, my score would increase by 75 pts for EQ, and 50 for both TU and EX. Even the CreditKarma FAKO gives a similar score with the same estimated action.

Can anyone tell me if their simulations in the past were close, or way off? I'm really trying to get somewhat respectable scores (650-ish across the board) by Thanksgiving.

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The "score simulators" are about as accurate as Cleo the Psychic Reader. The reason is simple - when you use the Simulator it assumes certain actions or lack of actions, none of which you can know about and may (or probably may not) actually happen. It's like trying to guess which window of a haunted house the vampire will fly into and then out of, whenever the house actually becomes haunted and whenever vampires actually exist and fly.