simulator?

[Anonymous]

I ahve been playing with this and I already know that when I pay out my cards, I will see a big increase, BUT...I was looking at just paying my bills on time for a month, 3 months, etc. and I can't believe that my score could go up 30-60 points for paying on time 3 months and doing nothing else. Does that sound right? It even showed 20 + point increase for just paying on time one month.

[haulingthescoreup]

It's not so much the paying on time part (although that's incredibly important), but simply allowing your history and your accounts to age 3 months, 6 months, and so on.

After a while, once your util is down and so forth, this will be the message you get, alternating with pay balances down. It's the "keep on keepin' on" scenario --just sitting back and letting things cook.

[Anonymous]

I understand that, but I am asking if that sounds right. If I pay on time for say 3 months(also building 3 months more history) could I really see that big of a jump, like the simulator says(up to 60+ points)?

[smallfry]

Equifax right?

[Anonymous]

yes

[RobertEG]

Very unrealistic.  Three months of account aging will not alone produce that kind of score bump.  Age of accounts is only 15% of FICO score. 

I think that something else is a work here.  Do you have a collection or prior delinquency dropping off during that period?

Message Edited by RobertEG on 12-16-2008 09:33 PM

[CreditAble]

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@Anonymous wrote:
I understand that, but I am asking if that sounds right. If I pay on time for say 3 months(also building 3 months more history) could I really see that big of a jump, like the simulator says(up to 60+ points)?

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Actually it doesn't sound right.

Could you post exactly what it says. Generally there is a lot of wiggle room in the predictions. A three month "what if" would more than likely be something like the following illustration assuming a 720 current score. 

Your simulated FICO® score would be in the following range: 720-750.

First of all the lower score in the range is exactly the same as the current score. That is what will most likely happen. Little or no change. Depending upon many variables it might go up 5 or 10 points. Going all the way up to 750 would be highly unlikely. The only way you will actually see jumps of 30 points like that is if you are paying down high util balances.

Don't make the mistake of looking at the highest number in a range that is for illustration purposes and think that you will hit that number. Furthermore I hope you aren't combining two different 30 point maximum scenarios and coming up with a 60 point score expectation.

If you post the actual numbers, and explanations along with a little info about your account lengths, there are many here could give you a pretty realistic idea of what to expect..

Definition of stable; "not changing or fluctuating" "unvarying"

The following explanation appears with the simulator results:

Pay Your Bills On Time for 3 Month(s)

Paying your bills on time is a substantial factor affecting your FICO® score.

Generally speaking, if you have no negative items on your file, your score will remain fairly stable as you continue to pay your bills on time.

If you have some history of late payments, how recent they occurred is important. The more recently they happened, the more impact they will likely have on your score. As they age, their impact on your score will gradually lessen.

This simulation was based on your making payments on all of your bills for the next 3 months.

Message Edited by CreditAble on 12-17-2008 02:55 AM

[laz98]

my EQ simulator says if i pay my bills on time for 6 months, my score will go up 60 points.  doubt it!

[niecey89]

I have to say the simulator and some help from Byrdman is right. see my scores below. at first it was 30 points then i received a 78 point jump when i paid off a few high balance accounts. That was just on TU.

[Anonymous]

Well, I am not that bad off, really. I know what it said and I was just wondering how accurate it was. It was only the one situation, paying on time, that I used to see this and the lowest in the range put me up 30 points. I was just wondering, that's all. I will just wait and see.