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FICO Quarterly Monitoring or DCU?

Valued Contributor

FICO Quarterly Monitoring or DCU?

Is FICO Quarterly Monitoring good and helpful? I mainly just want to know my FICO score(s). It seems like the cheapest from myFICO. I like the idea of being able to check my score(s) and report(s) 3 times a year (I know I can do this on annualcreditreport.com) and the extra features. It's much better than just purchasing my score(s) one time.

 

I much prefer to get my FICO score(s) free monthly. It seems like joining DCU or Getting a Walmart Discover card will do the trick, since I am not eligible for PSECU. Yet, I have so many HPs (maybe 5) in the past two months, I do not really want to get another one or two from DCU (joining and getting a Credit Card from them). I have read some posts here in the forum, it seems like not all the ppl have to have a loan or credit card from DCU to get the monthly free FICO score. But it's YMMV, right?

 

I'd like to get a second opinion for purchasing the FICO Quarterly Monitoring or joining DCU. Thanks in advance. Smiley Wink

Message 1 of 13
12 REPLIES
Valued Contributor

Re: FICO Quarterly Monitoring or DCU?

Oh, I forgot to mention that I do not like the idea of getting a Credit Card from GECR bank, because for some reasons, I always think GECR bank is a subprime lender and they have no customer service. So I don't want to get a Walmart Discover Card just for the free monthly FICO score.

Message 2 of 13
Valued Contributor

Re: FICO Quarterly Monitoring or DCU?

Hey DigitalArk! ( I like your username! )

I like the ScoreWatch product the best.  I haggled with the CSRs about the price and they were able to lower my monthly cost to $9.95 a month.  Not bad for this type of sevice.  Nice thing about ScoreWatch, you determine the settings to recieve updated info on your FICO score movement.  Every time I get a new alert, I immediately go into settings and update when I want to get my next alert.  For example:  If I get a ScoreWatch alert stating my FICO has gone from 786 to 787, I immediately go and update my alert settings to alert me when my score changes again by 1 point.  This is the best way to get the most out of this product.

I hope this was helpful.

Also, you might want to change your view of GECR.  Though they will give CCs to individuals with very borderline credit profiles, they also give some very high CLs on their accounts.  I have a Walmart CC with a 9K limit and I'm pretty sure that I could get it raised again if I desired to.. but that would be a waste of over-all optional available credit with my other creditors in my view.  And though they have high APRs, so do a lot of the other major creditors.  I've seen Amex approvals with lower CLs and 22%+ APRs.  Smiley Happy

Just my thoughts.  Smiley Happy

 

 


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSR 20.5K, TotalRewards 25K, QuickSilver 20K

Message 3 of 13
Moderator Emerita

Re: FICO Quarterly Monitoring or DCU?

I have DCU, SW and a Walmart cc. Each has its own purpose. The DCU only offers EQ, SW has preference settings and will give you updates.
I'd have to agree with Improvingmycredit , GECRB offers financing to borderline credit profiles but they also have a diverse portfolio -similar to Cap1.
Message 4 of 13
Valued Contributor

Re: FICO Quarterly Monitoring or DCU?

I have ScoreWatch, I agree with the first reply, it is very helpful. I also pay the 9.95 promo price. I also have DCU and a WalMart card. The DCU score is obviously redundant with the ScoreWatch, but I have my auto loan through DCU so I get it anyway. SW and DCU both provide the Beacon score from EQ, which is probably the most helpful score available for purchase or otherwise. On the other side of the spectrum, Quarterly Monitoring offers a fairly out of date TU score (98 I believe), while WalMart gives you an admittedly up to date score, albeit one that lenders haven't yet adopted en masse.

DCU, for the record, offers the EQ monthly score with any checking account when you sign up for online account. (Possibly paperless as well?) You don't need a financing product to get it.
  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 5 of 13
Frequent Contributor

Re: FICO Quarterly Monitoring or DCU?

DCU will pull EQ for a hard inq when you sign up. 

CARDS.jpg

Message 6 of 13
Moderator Emerita

Re: FICO Quarterly Monitoring or DCU?

^^^ this plus, they can be difficult to establish membership.
Message 7 of 13
Valued Contributor

Re: FICO Quarterly Monitoring or DCU?

Forget about quarterly monitoring.  If you want a good product to get regular FICO updates with a commonly used FICO version, use Score Watch.  The Wal-Mart score is not a commonly used FICO (nor is myFICO's version), but if you shop at Wal-Mart anyway, then the TU08 score is a nice extra to have.... if not, I wouldn't get the card just for the score.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k
Message 8 of 13
Valued Contributor

Re: FICO Quarterly Monitoring or DCU?

I had zero issues establishing a membership with DCU. If you're not in their territory (Central Massachusetts) you can donate $10 to a random charity to gain a membership by relationship. It has the option right in the online sign up process. It does give you a HP for membership yes, as well as another for a credit card. I'm not saying that's all worth it for a free FICO score, but if you need other products they provide, they have been very good to deal with for me so far. Their auto rates are incredibly aggressive, and they have very flexible policies for what you can finance, as well as pretty lenient credit requirements. For instance, I was able to get 5.49% APR with a 640+ Beacon on a used car.
  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 9 of 13
Valued Contributor

Re: FICO Quarterly Monitoring or DCU?

It seems like score watch from myFICO is the way to go. Can I still get the 9.95/ mon rate? Thank you all who replied. Smiley Happy
Message 10 of 13