MyFico Score simulator.... how accurate

[tooleman694]

Anyone know how accurate the score simulator is on Myfico?

I was running some simulations, and it is saying I am going to get a 45 point increase in 4 months. What is interesting is that is when my Chapter 13 BK turns 3 years old. Then during the next couple months I am going to pick up 25 more points, getting me over 700.

Wondering if others have seen their numbers hold up.........

[dynamicvb]

I'm not sure where you are seeing this type of simulated score. You put in a scenario such as getting a new credit card or paying down a loan that gives you a projected change in your scores. I don't see anything that does a prediction in time without some type of action on your part. Of course, I could be wrong and just have not run across the feature you are talking about. I do know most people around here don't think the simulators are worth anything.

[Anonymous]

Simulators are junk.  Not just the MF simulator, all of them.  Don't trust a thing any simulator ever tells you.

[909]

Agreed. It seems the simulators are created to not actually simulate results of real-world credit scoring algorithms. After a few years of playing with them I’ve found them to be worse than useless.

It would be nice if myFICO provided a helpful simulation model as part of the subscription fee but they don’t. It’s somewhat similar to the partially/somewhat/mostly unhelpful credit score factors myFICO provides (see current thread where the OP with 38 year AoOA and 16 year AAoA) receives advice that their credit history is too short.

Don’t worry about it. You’ll just need to forecast your own credit score changes based on what you learn here.