It seems that Equifax just started offering the new FICO simulator to be included in their $12.95 Score package. Has any one tried it yet?
I pulled a new report and score from CreditWatch and tried the simulator. Not a whole lot of variables to try -- it kind of sucks.
Re:Equifax FICO simulator NEW TODAY I think the simulator is funny. It only has a few "positive scenarios" What if I pay off X amount? Most are negative. What if I max out all my cards? What if I am late on everything? What if I declare bankruptcy? IF it is correct (Big IF) the most interesting thing (IMHO) is the boost you get just for paying your bills on time for 6 months and how little (at least in my case) a new car or mortgage would change the score. On Experian, I can create a possible 800 score on the simulator. On Equifax, I could only get a possible 796 (but I couldn't figure out how to combine scenarios)
Re: Re:Equifax FICO simulator NEW TODAY I thought it was neat that if I took out another vehicle loan it showed my score might go up as much as 20 points, or it might down as much as 20 points. *Real* helpful. Don't mean to sound like such a downer about this, but between my date of birth being forever screwed up and them giving me 2 different scores today, I'm just not real keen on their website right now. Ozzy.
Re: Re:Equifax FICO simulator NEW TODAY Paying off your CCs is bad for your FICO health! For the first time, my reason code mentions lack of a non-mortgage debt as a negative. Go figure! It shows that if my $1500 balance were to drop below $100, the max will be 794. To get a possible 804, I should carry a balance between $100-$300. If it drops below $10, my max score is 764. If you have no negatives on your report, shrug off the score. [size=1.5]Do what's right for your pocket![/size]
Re: Re:Equifax FICO simulator NEW TODAY It just told me that if I pay off 1 dollar my score might go up 20 points. Really!
Re: Re:Equifax FICO simulator NEW TODAY So it is IMPOSSIBLE to get 850 then??? AND HAVING $0.00 OWED IS BAD???
Re: Re:Equifax FICO simulator NEW TODAY The only man to ever achieve an "850" was a carpenter's son whose mother was named Mary... lol...
Re: Re:Equifax FICO simulator NEW TODAY I'm sure they would have got HIM for lack of debt or lack of inquires!!!
