Just got a "credit analysis" from eloan

[Coleroo]

Remember the thread the other day where we talked about utilization ratios and how it affects score? Thought it would cool to post some action points on what I was told to do to increase my score more... here are the action points that was recommended to me this morning. It does get very specific and tells you exactly how much each action point will raise your score, which account numbers to focus on... i've erased my account numbers and personal details for obvious reasons. lol

(P.S. you can get a completely free score from eloan, but the credit analysis has a fee attatched)

FROM ELOAN:

CreditXpert Credit Wizardâ„¢:
Actions to Improve Your Score

This tool identifies the actions that can improve your scores the most.


Action 1
Objective: Reducing the number of bankcards that are 50% (or more) used.
You can do this by paying down the balance on such an account, or by transferring some of the balance to another account that is less used.

Action: Reducing the usage level from 55% to 49% on your CHASE account
Transferring $385 of the balance on your CHASE account to your ASSOC/CITI account
Score Impact: Your credit score could increase by +8 points

Action 2
Objective: Reducing the number of bankcards that are 50% (or more) used.
You can do this by paying down the balance on such an account, or by transferring some of the balance to another account that is less used.

Action: Reducing the usage level from 88% to 49% on your DISCOVER FIN account
Transferring $585 of the balance on your DISCOVER FIN account to your CHASE account
Score Impact: Your credit score could increase by +7 points

Action 3
Objective: Reducing the total debt on your revolving accounts.
You can do this by paying down the balance on an existing account.

Action: Reducing the balance on your CHASE account.
Making a payment of $665 on your CHASE account
Score Impact: Your credit score could increase by +10 points

Action 4
Objective: Reducing the number of open accounts with a balance.
You can do this by closing an existing account for which the balance has been paid off.

Action: Paying off the balance on your DISCOVER FIN account, and closing the account.
Transferring $735 of the balance on your DISCOVER FIN account to your CHASE account and closing your DISCOVER FIN account.
Score Impact: Your credit score could increase by +4 points

[Marc Chase]

That is absolutely incorrect. Those score simulators are not worth the time.

having a balance over 50% of its limit is a huge ding to your credit. It's the second biggest factor in your score.

You could be a dollar over 50% and you can bank on about 25 to 50 point drop because of that dollar.

Get balances below 30% and you'll see a pretty big jump.

[Coleroo]

What is "absolutely incorrect" about it?

What I garnered from this simulator is that being over 50% is what I should avoid at all costs, and to raise the score I should bring all balances to below 50%.

Isn't that what you are telling me to do? You simply just took it one step further and said to bring them below 30% for an even larger jump.