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Question By
SmoothieDear

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Credit Score Simulator - Trustworthy? Bank says something else.
Credit Score Simulator - It shows my credit would significantly decrease if I do a balance transfer, no matter how low. However, when I talked to the bank/credit card to confirm, they mentioned my credit will not be affected. These are two very different conclusions. Any advice?

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The CK Simulator is USELESS.

If you do a Balance Transfer to a CC you already have , there should not be any change at all,  if there is one it would be small. 

IF You Open A New Credit Card then your Credit Score will take a hit, but it's a unknown on how much of a hit. but things could bounce back between 6 months a year as long as you pay down the debt and do not take on more debt.

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Actually, let me ammend that. Its not always accurate. It told me my score would go up when I did certain things and it did indeed go up. So, its not totally inaccurate. 

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No, its not accurate or reliable. It actually shows my score to drop 56 points if I pay off all my cards which is about 4k. I joined Experian Credit Tracker for a dollar. Before day 7 call them and ask to drop it (it is $21.95 a month). Their automated system will offer to cut the 21.95 a month in half for 5 years, I accepted. I use their iPhone app and it is wonderful. Much more robust and stable. Seems to be fairly accurate too. 

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Reply by
icuhowie

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You fell into the scam,  you got sucked in to paying for your Credit Score.

I'm always telling people Do Not Pay for your Credit Score each month,  no matter what.

You can monitor your score here ( Yes it's not FICO ) and watch things go up or down and know if things are going good or bad.

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