Neat FICO Estimator: it works!!

I found this FICO simulator on another website; Bankrate.com.

It is a good "estimator" for score changes due to "deletions/removals", etc. Score ranges are a bit "wide", but it does allow you to play with removals, aging, etc. It also gives a bit more "insight" into how FICO calculates (i.e. morgage, # of cards, aging)

http://www.bankrate.com/brm/fico/calc.asp

 

It does give a wide range, but playing with it, you can "guesstimate" which "end" you're closer to....(i.e...estimating score using next higher/lower category).

It's not perfect, but I thought it was good for us here on these boards to estimate effects of deletions, status changes which the traditional "FICO Simulator" does not do.

I thought it gave a little more insight into the FICO model too (questions regarding mortgage, "grouping of negs, etc.)

Plus, it beats paying $10-$13 to find out effects of changes!!!

 

Re: Re: Neat FICO Estimator: it works!!

FICO seems to calculate in groups, the math model seems to have certain "breakpoints" in all categories. I think five years seems like a sensible "breakpoint" to me. That "one change" may also change the average age of your accounts enough to "bump" your score into another grouping.

 

Re: Re: Re: Neat FICO Estimator: it wor

It is amazing, it is fairly accurate, and a whole lot better than spending $10-$13 to find out the "what if"!!

 

Re: Re: Re: Re: Neat FICO Estimator: it wor

If you are in the 800s, God Bless You!! WTG!!