FICO8 Simulator

[FriendshipSoft]

All, just curious here on the MYFICO score simulator and curious about it's accuracy?  When I put in "Pay all your bills for 12 months" - it has my scores basically going up 25 points all around 825 which is awesome.  

I know the let time do its thing addage etc., but does this score simulator resemble what is reality?

Thanks!

[JoeRockhead]

Not really because it's only one particular metric assuming nothing else changes other than you paying your bills and the time frame chosen. It leaves out many other factors or changes that can also occur within that time frame, CLIs, new accounts added, inquiries, usage of your accounts, etc.. I believe it's meant to give you a general idea of what could be possible

[Horseshoez]

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@FriendshipSoft wrote:

All, just curious here on the MYFICO score simulator and curious about it's accuracy?  When I put in "Pay all your bills for 12 months" - it has my scores basically going up 25 points all around 825 which is awesome.  

I know the let time do its thing addage etc., but does this score simulator resemble what is reality?

Thanks!

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I've been in the process of rebuilding since my Chapter 13 discharge three and a half years ago; just for kicks and giggles I tried the myFICO and Experian simulators (among others) at several points since then and never once did any of them yield anything close to reality.  The fact is, FICO scoring is a highly complex algorithm I do not believe it would be possible to create a simulator without requiring the user to answer 100 or more questions, many of which would be highly speculative assumptions.

Long story short, ignore the simulators, regardless of which service is offering them.

[SouthJamaica]

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@FriendshipSoft wrote:

All, just curious here on the MYFICO score simulator and curious about it's accuracy?  When I put in "Pay all your bills for 12 months" - it has my scores basically going up 25 points all around 825 which is awesome.  

I know the let time do its thing addage etc., but does this score simulator resemble what is reality?

Thanks!

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Sorry to disappoint, but no it doesn't necessarily resemble reality. Sometimes it does though, just like a stopped clock is right twice a day.