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The FICO score estimator was quite accurate too.
Range: 780-830 - actual FICOs are: EQ 810 TU 803
Well, I dont see how you can call it accurate, when it seems to have gotten about half of the members that have tried it within its 50 point range. 50 points is a lot, lol. If it tells me I'm between a 700 and 750, theres a big difference between those two scores.
[Edit] FWIW, it estimated me at 632 to 682. So it did hit the range. It didnt ask for hardly any information, so its basically taking an educated shot in the dark, hence the 50 point range. It seems to be no more or less accurate than all the other estimators.
I don't think that this estimator is very accurate. If the 50 point range consistently included the true score (say 98% of the time), that would be an accurate estimator. Just because it is an estimator does not mean it cannot be accurate, but this estimator is not very accurate.
@thrasher865 wrote:Well, I dont see how you can call it accurate, when it seems to have gotten about half of the members that have tried it within its 50 point range. 50 points is a lot, lol. If it tells me I'm between a 700 and 750, theres a big difference between those two scores.
[Edit] FWIW, it estimated me at 632 to 682. So it did hit the range. It didnt ask for hardly any information, so its basically taking an educated shot in the dark, hence the 50 point range. It seems to be no more or less accurate than all the other estimators.
Vere very close and useful. Thanks.
I used this estimator from the original post and got a range of 781 to 831. I also used the estimator on this site, producing a range of 750 to 800. Actual FICO scores as of this morning are EQ - 804 and TU - 821. Thus, the first was more accurate, but it's not hard to hit a 50 point range!
It is not accurate if you have a major derog. An 815 cerdit score with a 2 year old 120 day late isn;t gonna happen.
It's my experience that estimators included in purchased FICO products are reasonably accurate. I find the various ranges in given situations just right when taken into consideration factors such as reverse engineering and the seller's obligation to the customer. The customer of course should not take an estimator for more than what it is. If an estimate is based on one primary variable changing along with secondary variables such as aging an rebucketing, it's in the customer's own interest to understand this very frame that comes with it and not be carried away in wishful dreams as tempting as that may be.
Another example of a FICO product-related estimate is how long a myFICO Score Watch subscriber should have to wait until the arrival of the score update following a key change to your credit reports. When DW recently earned a hard inquiry on EQ from applying for a credit card, myFICO SW sent her a credit alert within 24 hours. I find that reasonable. I had hoped I would have received an alert myself within such a window stemming from a new TL's first statement cutoff, but that wasn't to be.
The estimator gave me a range of 50 points, and I fell right on the low point of the range. I don't know why people get so worked up over estimators. It's just an estimate! Not everyone an afford to pay for credit scores every month, and when you don't have anything better to do, why not check it out?
While we're on the subject, I used quizzle for my experian score last month (right after buying my score on experian's web site: YES, I know it's not a FICO score) and quizzle's experian score was EXACTLY the same as the one I paid $14.95 for on their website. So for anyone that wants to look at Experian's score just for kicks, you can do the same thing for free on quizzle. I think it only lets you update every six months, but it does give you a copy of your experian credit report, AND you can dispute from quizzle as well (for Experian only).
I do look at creditkarma every day for my TU, and although I haven't bought my TU from this site yet, it has been going up right along with my EQ. I'll find out as soon as I'm done repairing, and then let everyone know how far off it was for me.
In playing with this estimator and looking closely at the way it assigns points on the detailed analysis page, I found it hilarious that out of a possible 255.0 points for "amounts owed" I managed to net 265.0.
It estimated me at 791 - 841. My actual EQ is 670.
Oh well.
@wednesdayaddamsd wrote:I don't know why people get so worked up over estimators.
Neither do I.
But when your landline phone connection has been out of service for days, and you wake up four a'clock on a Sunday morning and your Internet connection has gone down the tubes as well, what's a man to do? DW likely wouldn't be in the mood to serve you coffee and eggs in bed!
So I spent the quiet hours by daybreak writing my own estimator. I came up with something that'll suffice for now. Includes handling of AAoA (individual and overall), util (individual and overall), inquiries. Doesn't do derogs (don't have any), mix of credit, rebucketing, logarithmic algorithms and that sort of stuff.
It is of course based on the experience of DW and me. So how's that for verification that it works?