topic Re: How accurate are the simulators? in Understanding FICO® Scoring

How accurate are the simulators?

Anonymous — Mon, 20 Jul 2009 20:06:24 GMT

I've been messing with the simulators on myfico and they come up with really off the wall scores. Anyone here actually compared the simulator with actual results?

Re: How accurate are the simulators?

pattycake — Tue, 21 Jul 2009 19:17:05 GMT

They are just that - simulators. They don't take into account the CLDs that the CC companies are doing, and they assume so many different factors.

I think the simulators have been a little off for me, but not too far. I'm now over 700 - FINALLY - although I really expected to be here much sooner.

Re: How accurate are the simulators?

Anonymous — Tue, 21 Jul 2009 21:44:21 GMT

The MYFICO simulator is telling me I should see a 80 to 120 point increase just by paying down my utilization. I am currently at about 80%. I realize that utilization is about 30% of your score. I just thought this many points is too many. (over a 6 month period that is)

Re: How accurate are the simulators?

JoeBJay20 — Tue, 21 Jul 2009 22:15:35 GMT

It varies from one credit report to another, but as a general rule, you can expect about a 10 point gain for every 10% decrease in utilization.

Re: How accurate are the simulators?

RobertEG — Fri, 24 Jul 2009 04:23:42 GMT

The score simulators are intentionally vaque.

If they permitted you to view the short-term affect of one single change in your CR, that wouild allow for reverse-engineering of their scoring algorithm. And that is just not gonna happen.