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).
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?"
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.
I keep hearing that it's very accurate - I believe this is an example of one and what it can do:
In my experience they are very close to spot on in most cases
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!
@Onrails Congrats that's awesome! I have even more faith now when my lender repulls later this month. Thanks for the update and best of luck.
Anyone else have experience with lender's score simulator? My lender predicts +20 on my mid. Is it accurate?