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Yes, it is intentional.
The FICO scoring models are protected as trade secrets, not under patents.
Thus, they must prevent the ability to reverse-engineer the algoritms.
They therefore present scenarios where time and multiple scoring parameters are always a factor, thus preventing one from gaining specifics about the innards of the algoritms by a few repeated runs.
@ncochran1989 wrote:
I need to know what happens to my current scores.
There's no good way to determine exact point impact. A person familiar with a model and data points may be able to make a guess and you can get yourself to a point where you can have a very rough idea of scoring impact. However, your score after opening doesn't really matter much unless you intend to open additional credit accounts after that. If you're not intending to apply for more credit then your profile will probably recover from the short term negative impacts in a relatively short (for the credit world) period of time.
If you need help then ask us and we can chime in but you're not going to find what you're looking to find. Understnding FICO Scoring would be the best place to ask such questions. Make sure you mention the specific scoring model. FICO doesn't have just one model and different models evaluate report data differently (and can have differing scoring ranges).
They also need a reason to charge you for the 3b reports and what not.... If it ran the credit simulator off your current scrores instead of a month or 2 old ones then there'd be no justification for you to pay for the updated scores..... So the choice is to wait on your quarterly update or pay extra for instant gratification.... "That's how they get ya!!!" :
Are there any other products that provide score simulation capability?
The only product that can simulate a FICO score is the one produced by Fair Isaac.
Others dont have access to the actual innards of the proprietary FICO algorithm.
Yes, others provide score simulators, but they are evaluating the taste of Pepsi, not Coke.
The only product that can simulate a FICO score is the one produced by Fair Isaac.
Others dont have access to the actual innards of the proprietary FICO algorithm.
Yes, others provide score simulators, but they are evaluating the taste of Pepsi, not Coke.