Rebuilding Your Credit

[mst2009]

Can anyone tell me how accurate this credit simulator is on this website??  If I enroll in the FICO credit score report will it show a difference in the scoring than freecreditreport.com??  Which system do the loan companies use most?

[RobertEG]

It is not the accuracy of the simulator that is the issue.  It is the very restrictive nature of what you can input, and thus project.

The entire issue of the simulator is that the FICO scoring agorithms are tightly-guarded trade secrets,

They will only go so far as to give you general projections over periods of time, but never immediate projections on current data in all categories.

To do this would subject them to reverse engineering of their scoring algorithms.  That wont happen.

When you input anything into one category in the simulator, that assumes that all other categories are static.  The real world does not work that way.,

It is a tool of what woulkd be your best action, and is very useful.  But it is not a precise score simulator.

[LIGHTNIN]

  Which system do the loan companies use most?

Most lenders use FICO scores.

[llecs]

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mst2009 wrote:

Can anyone tell me how accurate this credit simulator is on this website??  If I enroll in the FICO credit score report will it show a difference in the scoring than freecreditreport.com??  Which system do the loan companies use most?

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And to add, the scores from freecreditreport are not FICO scores. We call those scores FAKOs. Those can go up while your FICO down and vice-versa. Ignore the advice from freecreditreport too. However, the report info is OK.