topic Re: Experian Score Simulator Accuracy in General Credit Topics

Experian Score Simulator Accuracy

FriendshipSoft — Tue, 18 Jul 2023 23:49:13 GMT

Friends. Working on my rebuild and noticed the Experian simulator.

How accurate is this - it is saying I can have an 850 score lol !

Re: Experian Score Simulator Accuracy

coldworld — Wed, 19 Jul 2023 03:20:25 GMT

@FriendshipSoft wrote:
Friends. Working on my rebuild and noticed the Experian simulator.

How accurate is this - it is saying I can have an 850 score lol !

Congrats on 850....hypothetically lol. Nice work!

Re: Experian Score Simulator Accuracy

GZG — Wed, 19 Jul 2023 04:00:36 GMT

is your newest account 3 months old?

Re: Experian Score Simulator Accuracy

FireMedic1 — Wed, 19 Jul 2023 15:39:42 GMT

Are rebuilding from the 780-800 range? Simulators are not accurate.

Re: Experian Score Simulator Accuracy

Lou-natic — Thu, 20 Jul 2023 17:12:00 GMT

@FireMedic1 wrote:
Are rebuilding from the 780-800 range? Simulators are not accurate.

Every month the simulators will show me that I'm only just 3 months away from 800+ scores...Been that way for a few years now.

Somehow I don't think the simulators are telling me the truth. Which then makes me wonder what the real purpose of them actually is?

As far as I can tell they are nothing but another marketing tool used to string people along.

Re: Experian Score Simulator Accuracy

FireMedic1 — Thu, 20 Jul 2023 17:36:09 GMT

The best simulator even though none of them are spot on is here on MyFICO. FWIW.

https://www.myfico.com/fico-credit-score-estimator/estimator

Re: Experian Score Simulator Accuracy

tebtengri — Fri, 03 Nov 2023 22:17:16 GMT

Does experian license the algorithms or do they merely submit the data to FICO and ask for a score based on that?

if they've licensed the actual algorithm I don't see how it wouldn't be pretty accurate unless they're deliberately choosing to not use the real algorithm.

Re: Experian Score Simulator Accuracy

FireMedic1 — Sat, 04 Nov 2023 08:02:51 GMT

@tebtengri wrote:
Does experian license the algorithms or do they merely submit the data to FICO and ask for a score based on that?

if they've licensed the actual algorithm I don't see how it wouldn't be pretty accurate unless they're deliberately choosing to not use the real algorithm.

Simulators arent accurate. Kinda got it backwards. FICO is the main scoring system program. Each of the 3 CRA's tweak the base FICO program and tweak it the way they want it to fit their algorithm. Theres no CRA that reports to FICO.

Re: Experian Score Simulator Accuracy

Zoostation1 — Sat, 04 Nov 2023 19:45:10 GMT

@FireMedic1 wrote:
The best simulator even though none of them are spot on is here on MyFICO. FWIW.
https://www.myfico.com/fico-credit-score-estimator/estimator

Even it's not very good IMO. It tells me I'm going to lose points on EQ8 and TU8 for getting a CLI. Maybe it's assuming a HP for a CLI request (though all of my cards are SP for CLI requests).

Re: Experian Score Simulator Accuracy

FireMedic1 — Sun, 05 Nov 2023 10:33:32 GMT

Get a pen and paper. I'll give you the megamillions numbers. Bout how accurate simulators they all are.

Re: Experian Score Simulator Accuracy

tebtengri — Sun, 05 Nov 2023 21:42:15 GMT

@FireMedic1 wrote:
Get a pen and paper. I'll give you the megamillions numbers. Bout how accurate simulators they all are.

Once I win I'll start a fintech 🤣