I've been looking at the score simualtor lately and I've noticed that it is clearly broken. According to the simulator, if I were to pay down my credit cards by ~$1600, I would have received a 25-30 point bump in my score. I did just that and only saw a 2 point increase. After playing with it a bit, I noticed that if I use the same simulator and lower that amount to $1, meaning that I would have paid off my total credit card balance by a mere $1.00, I would receive a 10 to 20 point increase in my score. This is impossible.
I understand that the simulator is designed in such a way that it isn't going to be 100% accurate, but you guys claim that it will give me a "ballpark estimate" of what changes to my credit score would be. This isn't a ballpark estimate. This isn't even in the ballpark. Hell, I don't think it's even in the parking lot.
People use this simulator to give them a rough idea of what will happen to their score if they make a change, and some folks might even rely on that information. To top it off, I believe that the issue with the simulator compounds, meaning that the higher I drag that slider, the greater the error. If I were to pay off 100% of my credit card debt, it claims a 145-150 point increase in score. I know from personal history that this isn't the case. I wouldn't even get near half that. I've done it...
Please fix this product. It's a large portion of the reason I pay you $30 a month for this service. If it's not even remotely close to being accurate, I don't really have any reason to fork out $360 per year for the service. I can just save money and pay for reports when needed and make my own best guess at what changes will do. Those guesses have to be more accurate that the info you're providing.