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Jennyc00

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Credit card simulator
I ran the credit report simulator to see what my score would change to if i opened a new credit card account and it said my score would increase by 25 points, however, my score dropped 67 points instead. I have only had the new card for 2 months and i have had no late payments or other negative changes since i opened the new account. Is the simulator really legit?!

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What is your credit card utilization on that credit card and any others you may have? On time payment history accounts for 35% of your credit score, but there is also credit card utilization that counts for 30% of your credit score. I only ask because a 67 point drop is significant, normally your credit score should only drop about 3-18 points from the hard inquiry itself and a slightly lowered average credit age.

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... Also, don't always believe that a credit simulator will give you an accurate credit score. It is just an estimate of which could be your score if it were reported today based on your most recent report update, but often times it will take 30 days or sometimes longer before something new gets reported to the credit bureaus.

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