Credit Simulator, Does it Work?

[Anonymous]

I'm just wondering if the credit simulator is somewhat accurate on the myfico site? Has anyone went by the suggestions and had an increase in CS that is close to what the simulator predicted?

[Anonymous]

I think it does work if used for its intended purpose. It simulates one factor only for any simulation. That's not how actual score generated from CRAs work. There numerous factors that are taken into account simultaneously, not the case with the simulator. It is fun to play with though.

[RobertEG]

The simulator is accurate as far as it permits, since it is produced by Fair Isaac.

However, the problem with score simulators is that if they permit detailed and specific inputs, they will, with enough usage, also permit reverse engineering of the algorithm.

Fair Isaac chose to forgo patent protection on their algoritm, and rely upon maintaining its workings a trade secret.

Thus, it will not permit input of factors to see their individual effect on today's score.  It is intentionally genrealized over a period ot itme where aging also enters into any score variation.

[takeshi74]

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@Anonymous wrote:

I'm just wondering if the credit simulator is somewhat accurate on the myfico site? Has anyone went by the suggestions and had an increase in CS that is close to what the simulator predicted?

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No simulator can be accurate for every FICO model used by creditors.  It can give you a rough idea but don't rely solely on it.  Learn to assess your own report data versus obsessing over specific numbers.  You won't be able to determine your scores using that method but good reports will lead to good scores regardless of model.

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@Anonymous wrote:
That's not how actual score generated from CRAs work.

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CRA's generate FAKO's.  FICO's are Fair Isaac products.

[Anonymous]

Thanks for the responses. 

[Anonymous]

Hello all!

I'm looking for a credit simulator that is relatively accurate. I used the simulator on this site and it gave me a pretty spot on target of where my credit score is now, however, I'm looking for a good simulator if I reduced my credit utilization. I just tried the one on the karma site and it gave me a score far less than what my score currently is when I simulated to drop my balance to 0. I'm currently sitting at a 690 and gardening. My utilization is at 35% and plan on dropping down to 30% with this weeks round of bill payment.  Any ideas?

GMC Buypower: $300

Paypal Smart Connect: $500

New York & Co: $900(just gardened today and went from 700-900!)

Amazon: $500

JCPenny: $500

Discover it: $1,000

Home Depot: $1,000

Walmart: $1,400

Tj Maxx Rewards: $1,500

Tj Maxx Rewards MC: $2,500

Barclay Rewards: $1,150

Capital One QuickSilver: $2,500

Carnival World MC: $3,000

Southwest Rapid Rewards: $3,000