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FICO Simulator


JMVandals
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The TU simulator on myfico.com said if I applied for and got ONE credit card it could raise my score to 677-707 from my current score of 597. I don't understand how this is possible. The EQ simulator, with the same thing raises it to 637-650 from 597.

FICO's were pulled two days ago.

I have no inquires on my EQ and 8 unpaid collections (I know, this is Day 3 of repair project and I've just sent off the dispute for my addresses to the CRA's). No other form of credit cards (I just haven't applied for any) on my reports and other then that, I have my student loans reporting.

Same with TU report except there are 12! unpaid collections.

Should I try applying for something and risk getting denied? Any suggestions would be helpful. Still fairly new to this whole thing.

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While doing credit repair, you also have to rebuild your credit as well. Simply having a clean report doesn't do any good if you don't have CURRENT accounts being reported to establish a GOOD credit history.

It is possible to have scores in the 700's with no current credit cards... however, you can be turned down for credit simply because you have no history. Score doesn't mean everything.

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