myscoresawful Posted February 26, 2007 Report Share Posted February 26, 2007 Has anyone used this and if you followed through with the stategy, did you get the expected score within the time range it gave?For example, my credit score right now is 425, and by paying down $4300 in revolving credit over the next 6 months, it is predicting my score to be between 525 - 565.I guess what I am asking is this: If nothing else changes on my credit report (no late payments, no collections placed, etc) and I pay down the $4K....will my score really reflect the above?have you tried it? Did it work that way for you?Thanks! Link to comment Share on other sites More sharing options...
kevin3344 Posted February 26, 2007 Report Share Posted February 26, 2007 (edited) I think that will give you a 'best guess' but it depends on what else is happening on your report. Providian has a free FICO simulator that is similar to the one EQ charges you for. http://www.providian.com/cmc/fico_simulator.htmFor me, the EQ simulator has always said the same thing: pay your bills on time and keep your revolving cc balances low. I guess that can be said for almost anyone lol.________Paxil class action lawsuit Edited September 9, 2011 by kevin3344 Link to comment Share on other sites More sharing options...
momof5 Posted February 27, 2007 Report Share Posted February 27, 2007 First off, you have to look at what the percentage of FICO is indebtedness. When I maxed out my CCs I lost 60 points. My theory would then be that your balances on CCs are worth 60 points and when you pay them off, you will have the same increase in score. My BF recently maxed out his CCs. He lost 52 FAKO points and only FICO knows how many FICO points. But you get the idea.Funny thing about the "Providian" FICO calculator....the link brings up WAMU! Anyway, this is nearly useless because it is only based on a 650 score and preset debt amounts. Link to comment Share on other sites More sharing options...
kevin3344 Posted February 27, 2007 Report Share Posted February 27, 2007 (edited) Keep in mind also it's taking into account the aging of your report as well, so the score is not based on paying down your credit cards alone...although that plays a big part.Any simulator is just that, a simulator. YMMV.________Morning_STAR live Edited September 9, 2011 by kevin3344 Link to comment Share on other sites More sharing options...
sugarandspider Posted April 13, 2007 Report Share Posted April 13, 2007 Typically the fico simulator ranges between 40 points but in reality expect it to be closer on the low side. Link to comment Share on other sites More sharing options...
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