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Interested in credit score improvement

Community Leader
Super Contributor

Re: Interested in credit score improvement

If all simulators are unreliable, and X is a simulator, then X is unreliable.  Once you hear BBS declare his opinion that covers all of them, following back up to ask him "yes, but what about this particular one?" is unlikely to get you a different answer.

Message 41 of 44
Super Contributor

Re: Interested in credit score improvement


@duku2020 wrote:
I’m referring to the simulator on MyFico website. Is it an accurate simulator and can the revolving balance on the simulator update each month?

No it's not an accurate simulator.

 

Yes the balances it's referring to are updated.


FICO8 EQ 755 TU 776 EX 746 Total revolving limits 643900 (533900 reporting)
Message 42 of 44
Super Contributor

Re: Interested in credit score improvement

duku,

 

The reason all simulators are notoriously incapable is that they only take into consideration a handful of factors (the 10 questions or whatever they ask at the start) when there are far many more factors that go into a credit report and an infinite amount of factors at play when considering them all relative to one another.

 

The only way you'd get something accurate is if you found something that took into consideration your entire credit report... and that's the purpose of a FICO algorithm that yields a score.

Message 43 of 44
Established Member

Re: Interested in credit score improvement

Ty South and Brutal. South's answer is what I was looking for Smiley Happy Ty for replying Brutal.

Message 44 of 44