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Posts: 67
Registered: ‎05-29-2009
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Collection Removed

I had a collection removed from the CRA.'s How long do they take to update on Myfico ScoreWatch? I haven't received an alert for it


Starting Score {July 30,2012}: TU 586 EQ 535 EX 583
Current Score: My Fico EQ 635 Walmart TU08 640 MyFico TU04 682 My Fico EX 628 (lender pull 09/12)
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Valued Contributor
Posts: 1,546
Registered: ‎08-30-2012
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Re: Collection Removed

Excellent question. I would like to know as well.


Starting Score: EQ 511 TU 552 EX 545 8/29/2012
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Posts: 311
Registered: ‎07-08-2012
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Re: Collection Removed

A collection removal won't trigger a ScoreWatch alert. Sad, I know. Smiley Sad If you have your alert settings set to tell you when your score reaches a score that's one point above your current score, then it might take about a week to get the alert, since ScoreWatch seems to only check scores once a week or so if there are no other changes that would trigger an alert.

Scores:
07/29/12: EX FICO (Amex) 684 | EQ MyFICO 631 | TU Walmart 695
Current: EX FICO (MyFICO) 733 | EQ (MyFICO) 683 | TU (Walmart) 745

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Posts: 32,869
Registered: ‎08-04-2007
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Re: Collection Removed


Autumnslight wrote:

A collection removal won't trigger a ScoreWatch alert. Sad, I know. Smiley Sad If you have your alert settings set to tell you when your score reaches a score that's one point above your current score, then it might take about a week to get the alert, since ScoreWatch seems to only check scores once a week or so if there are no other changes that would trigger an alert.


+1...and I'll add that there is no service anywhere that alerts for dropped accounts.

I would suggest instead of +1, you set your target score to exactly match your current score. While in most cases a dropped CA will increase your FICO, there are some scenarios where it won't. For example, let's say you have a herd of CAs reporting. Losing one likely won't increase your score at all. If set at +1, you won't get an alert if your score didn't change.

 

Another example would be rebucketing. If you become 100% baddie-free, there's always a chance you can lose points. That's rare but there are some posts in here stating such.

 

Let's say the "collection" were a CO (some people use the word "collection" to describe COs and CAs). If that OC acct were among your oldest accounts, it's very likely you could see a score drop with its removal (YMMV on credit). If the target were set at +1, then you wouldn't see an alert.

 

Finally, let's suppose something happened to your FICO that caused a decrease a day prior to the CA's deletion like increased util, an old account dropping, other added baddies, account changes, etc. The score would be lower. If that loss isn't washed out by a net gain by the removal of a CA, then you wouldn't get an alert because it didn't hit the +1.

 

To the OP....ditto to the week. FICO monitors your FICO score for changes once per week. So, if there's nothing happening on your CRs, and absent any credit alerts, then start the clock for 7 days from the exact day you saw it disappear off EQ. I'm guessing you are using a service like USAA's CMS to track when they fall. If not, you might benefit from a service like that. Ignore their scores and advice of course.

Established Contributor
Posts: 1,837
Registered: ‎08-20-2012
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Re: Collection Removed

Congrats

New Contributor
Posts: 67
Registered: ‎05-29-2009
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Re: Collection Removed

ScoreWatch sucks! waste of $14 a month. As i mentioned above, I had a collection removed and stuff update to my credit file and no alerts. I just had to waste another $14 do pull my own report to find out that i had a boost in score. I'm canceling this product when my three months is up in october. So pissed right now! Smiley Frustrated


Starting Score {July 30,2012}: TU 586 EQ 535 EX 583
Current Score: My Fico EQ 635 Walmart TU08 640 MyFico TU04 682 My Fico EX 628 (lender pull 09/12)
Road 2 Recovery: Patience - Persistence - Perseverance

Goal Score: 700+


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Posts: 13,892
Registered: ‎04-15-2011
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Re: Collection Removed

Congrats!

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EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Current scores after adding $81K in CLs and 2 new cars since July 2013
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New Contributor
Posts: 67
Registered: ‎05-29-2009
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Re: Collection Removed

Thanks Shogun. Smiley Happy


Starting Score {July 30,2012}: TU 586 EQ 535 EX 583
Current Score: My Fico EQ 635 Walmart TU08 640 MyFico TU04 682 My Fico EX 628 (lender pull 09/12)
Road 2 Recovery: Patience - Persistence - Perseverance

Goal Score: 700+


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