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Question By
Lornar

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Why is the Credit Score Simulator soooo wrong?
I used the simulator multiple times to see the results of getting a personal loan and paying off 2 open and 2 CLOSED credit card accounts. It always showed a 25-30pt increase in my score. So I took out the loan and paid off the accounts. I first took a 10pt hit for closing the 2 open accounts, prior to the personal loan showing up, totally as expected. However, once the loan showed up, my score DECREASED by 31 pts!!! In addition something funky happened and I see all these "changes" for a bunch of other accounts and inquiries being removed and re-added as the reason for the credit score drop. Anybody have any idea why there would be such a discrepancy between the simulator and reality?

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The simulator is only a "guessing machine" making guess on scores that lenders will not use anyway. If you are concerned about your credit, you want to do things to appease FICO.

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The same thing happened to me. 99 point drop in the changes they added a ton of old stuff then removed it. It makes no sense. CK is not even close to reliable. I have no idea why I even bother to check it. 

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Happened to me too. I followed the credit simulator advice to raise my credit score and it destroyed my score instead.  They really need to check what kind of advice they're giving people. It probably destroyed my chances on purchasing a condo. Thanks for nothing.

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