@Anonymous wrote:
How could the statement "the simulator has all the information it needs to make an accurate estimate" be wrong? The simulator has access to the whole credit report. What more information does it need? All the "moving parts" can be computed from the credit report.
I never claimed the simulator actually does those computations. I never claimed that the simulator is even close to being accurate. I'm only refuting your claim that the simulator has "extremely limited input data".
If you'd like to say that the data isn't limited, but rather improperly used I'm fine with that too. Sort of semantics, as the end result is the same regardless of which fork in the road you take. The information that it needs is how to use the data (relative to one another) to produce a score. No one knows how the algorithms work, so simulators are nothing more than a guess. It's my opinion that the guess of whoever is working on it is simply worse than the more educated guesses of the pros on this forum.
Again, use my profile as the example. The simulator says that if I open a new account my score wouldn't drop. Now say I were to start a thread in the scoring section of this forum and state that I haven't opened a new account in years, have no inquiries etc. and was going to open a new account. In the thread if I asked for predictions on what would happen to my score, my guess is that zero people would suggest it wouldn't move at all and that there would be plenty of others that would guess maybe a 15-25 point drop give or take. Winners the members of this forum, loser the simulator in this simple example.
