myFICO Score Simulator

[Anonymous]

Hi all! I am sitting at about at 619 middle score.  I recently reduced my credit utlizatio from 91% to 30% by paying off some credit card debt.

When I used the myFICO score simulator it predicted a fairly large jump within the next MONTH.  Does anybody out there have an idea of how accurate the simulator is?   

[Anonymous]

Thats very possible. High UTIL% is a large factor in credit score calculation.

[Anonymous]

I am waiting to see if the FICO simulator is accurate as well. Just paid my utilization down from 75% to less than 1%. I am waiting for three cards to report and it just is not happening fast enough!!! lol

By the way, how did you figure your mid-score? Did you get Experian score from a lender? Just curious because I did not think they were readily available.

[Anonymous]

Keep us apprised, I am also wondering about this?

Thanks!

[MarineVietVet]

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@Anonymous wrote:

Hi all! I am sitting at about at 619 middle score.  I recently reduced my credit utlizatio from 91% to 30% by paying off some credit card debt.

When I used the myFICO score simulator it predicted a fairly large jump within the next MONTH.  Does anybody out there have an idea of how accurate the simulator is?   

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I think going from 91% to 30% will give you a nice boost depending on what else is on your reports. Paying down CC debt is the fastest way to raise a score. In this case the simulator is probably pretty accurate. You'll know for certain as soon as everything updates with the CRA's. Don't get in a hurry though and pull your scores too soon.

I don't much care for simulators myself but that's just me. It doesn't mean they can't be useful.

Edited cuz' I kent typ rite!!!

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

I agree  100% with your assessment;  with all my research, it seems that (1) Don't be late ever again; and (2) Pay down your CC balances (ratio); and your score will go up, simulator or no simulator!  

[Anonymous]

Hi, Everyone there were questions earlier about trying to figure out you're middle credit score, Actually the way to do that is go highest to lowest and the score in the middle would be the middle score, Example if you're scores are Experian 780,Eq 781, Transunion 799 you're middle score would be 781

[crunching_numbers]

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@Anonymous wrote:

Hi, Everyone there were questions earlier about trying to figure out you're middle credit score, Actually the way to do that is go highest to lowest and the score in the middle would be the middle score, Example if you're scores are Experian 780,Eq 781, Transunion 799 you're middle score would be 781

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Honey07:

What they were trying to say is that as consumers, it is difficult to get access to your EX FICO score. Without the EX, it is impossible to know for sure which score would be the middle score.

[JenniferinFL]

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@Anonymous wrote:

Hi all! I am sitting at about at 619 middle score.  I recently reduced my credit utlizatio from 91% to 30% by paying off some credit card debt.

When I used the myFICO score simulator it predicted a fairly large jump within the next MONTH.  Does anybody out there have an idea of how accurate the simulator is?   

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My husband's didn't go up quite as high as it predicted. I think it had predicted a 30 pt gain with the amount he paid off and he got a 20 pt gain. Though, we paid most of it on one card, it may have gone up to what they predicted if we had spread it out a bit more.

[marty56]

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@JenniferinFL wrote:

My husband's didn't go up quite as high as it predicted. I think it had predicted a 30 pt gain with the amount he paid off and he got a 20 pt gain. Though, we paid most of it on one card, it may have gone up to what they predicted if we had spread it out a bit more.

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Also check # of CCs reporting a balance.  Reducing total util is good but you also need to have fewer cards reporting balance.  Especially on TU.