02-20-2014 11:12 AM
02-20-2014 11:39 AM - edited 02-20-2014 11:40 AM
Well, I'm in the process of doing the same thing so I'll let you know how it works. From what I am told though it is very accurate. Like within a few points accurate. What they have access to is much more sophisticated (and propritery).
02-20-2014 12:28 PM
It is called a credit simulator. A computer program that uses the data in your credit report to compare possible effects on credit scores for various scenarios. For example, the operator can input payment data for selected tradelines and the program will responded with a "predicted" outcome. It is best used to determine the most effective use of available funds. Essentially the program is being asked questions like "What impact on the scores will paying down a tradeline by $100 have?"
02-20-2014 05:56 PM
Same as @Onrails I recently had the lender do a score simulation and will let you know if I make it to the estimated pt increase. My understanding from a few others before purchasing was that it is very accurate. Will keep you posted.
02-20-2014 09:30 PM
In my experience they are very close to spot on in most cases
03-05-2014 05:28 AM - edited 03-05-2014 05:29 AM
Just thought I'd update this thread. My lender repulled my scores yesterday and the predicted increase by the simulator was exactly right to the point. So in my experience they are very accurate!
Middle score went from 678 to 735!
07-11-2014 08:19 PM
Anyone else have experience with lender's score simulator? My lender predicts +20 on my mid. Is it accurate?