myFICO Score Simulator

[GirlMelanie89]

Hi guys!!

Does anyone know how accurate the myFICO simuator is? Currently, my score is 619 with 83% util., but it says, once I pay my CC bills off (I already did, but waiting to report) that it will increase to 668. Just trying to get an idea of what to expect if possible.

EDIT: Just realized this shouldnt be under this forum, MODS please delete!!! Sorry. 

[Anonymous]

That's very likely. I saw a 90 point jump in TU from utilization alone!

[GirlMelanie89]

That's awesome!!!! I hope mine increases that much!!!!

[RobertEG]

The simulator is developed by Fair Isaac, so is accurate.

The issue with the score simulator is not really one of accuracy, but rather specifcity.

The simulator must tread the thin line between providing projections flexibility while also protecting the scoring algorithm from reverse engineering.

By choosing to use trade secret protection rather than patent protection, they have the burden of preventing their algorithm from being recreated based on publicly available information.  Thus, most of their scenarios intentionally incorporate impacts of several categories by spreading the projections over time periods where more than one factor will change.

It is good for what it does project, but intentionally avoids the ability to simulate a very specific act and see its isolated impact.

[GirlMelanie89]

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@RobertEG wrote:

The simulator is developed by Fair Isaac, so is accurate.

The issue with the score simulator is not really one of accuracy, but rather specifcity.

The simulator must tread the thin line between providing projections flexibility while also protecting the scoring algorithm from reverse engineering.

By choosing to use trade secret protection rather than patent protection, they have the burden of preventing their algorithm from being recreated based on publicly available information.  Thus, most of their scenarios intentionally incorporate impacts of several categories by spreading the projections over time periods where more than one factor will change.

It is good for what it does project, but intentionally avoids the ability to simulate a very specific act and see its isolated impact.

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Robert, after I pulled out my dictionary, I think I understood what you said. Lol. But your first sentence was enough for me. Sounds good to me! 

[gdale6]

moved to gen

[Rebuilding69]

The myFICO & CreditCheckTotal simulators show the exact same scores for me for Experian after simulating paying off CC debt, both in lump & payments over a period. I had to go by ratios though since the myF report is a different date & showed a higher debt amount.

[takeshi74]

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@GirlMelanie89 wrote:

Does anyone know how accurate the myFICO simuator is?

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Don't rely too much on the simulator.  You'll shortly find out how accurate it is for FICO 8 anyway.  The simulator can't simulate all FICO models.

[Rebuilding69]

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@takeshi74 wrote:

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@GirlMelanie89 wrote:

Does anyone know how accurate the myFICO simuator is?

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Don't rely too much on the simulator.  You'll shortly find out how accurate it is for FICO 8 anyway.  The simulator can't simulate all FICO models.

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In my opinion, it's not as accurate as it could be because it only simulates 1 thing happening at a time. For everyone out there, there's always at least 2 things happening at any given moment. But it's been pretty accurate irregardless(at least for me anyways).