cancel
Showing results for 
Search instead for 
Did you mean: 

MyFICO Credit score simulator scam!

tag
sarge12
Senior Contributor

Re: MyFICO Credit score simulator scam!


@tjmolly wrote:

I tested this so-called simulator and riddle me this...  Why if I "pay down CCs balances $500/mo" for just 1 month, i get a 30pts bump up in score but if I chose "pay down CCs" with the same $500, I only get a 5 pts bump.  Go figure?


In my experience it is more accurate than a roullette wheel, but slightly less than tarot cards, or crystal balls. IMHO.

TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 21 of 22
RobertEG
Legendary Contributor

Re: MyFICO Credit score simulator scam!

The most significant limitation in offering a score simulator is that they cannot make it so accurate that the consumer can imput very specific changes as get an accurate score change.  The scoring algorithm must be preserved as a trade secret by preventing reverse-engineerting.

Enabling one to input very specific changes and getting accurate results would, with only a bit of time, permit reverse engineering of the algorithm,and thus loss of their trade secret.

 

Fair Isaac produces the simulation, so it is not "inaccurate" so much as it is intentionally broad or vague, intentionally taking into account multiple factors.

I would not expect a score simulator to enable specifid inputs --> accurate outputs.

Message 22 of 22
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.