Barry recently posted the following for those who may have missed it:
Score Watch will notifiy you of changes to your FICO score in certain circumstances, but there some score changes you're only going to see by buying an updated report and score.
Sound confusing? Well, I'll admit to being a bit confused myself so in the coming weeks after sorting this stuff out myself I'll be posting a more detailed description here of how the Score Watch alert system really works. For now, though, let's just say that some changes to your score generate alerts and some don't.
Basically, there a two kinds of score alerts: 1) the score that's posted on all alerts resulting from such activity as new accounts, inquiries, balance increases, etc., and 2) alerts generated from reaching/exceeding the 'target' score.
In these forums you'll see examples of folks receiving Score Watch alerts indicating score changes and you'll also see examples where the score changed but no alert was received. Stay tuned for a more comprehensive description of the Score Watch alert system.
So, the answer here is, no, you don't have to buy a new report/score to see every score change, but if you do buy a new one, don't be surprised to see a different score. More later.....
I've had seven alerts nothing which resulted in a score change, I find this hard to believe since these are inquiries, new accounts and baklance percent changes. Right now TU is so broken that it makes no sense so I'm hoping Equifax isn't having a similar breakdown
I noticed that as well and discussed the issue with the cutomer rep. He indicated to me that I need to change some settings which I did but it did not make sense to me. However, I think that the fact that FICO alerts do not work at all time is misleeding and possibly fraudulent since I am paying for notification that also indicates that I will be notify any time my FICO score changes (first option). This is not thrue since my score increased and I was not notified on many occasions when my score increased. To me this is incredible since they are basically forcing you to pay again and again for something you believe you have already paid How do we supposed to trust the credit agencies? A clarification and full disclosure from the company should be in order. I think I am at the point where I may file a complain with the FTC.
Me too, what do you mean by tu being broke? My score hasn't changed which I find bizarre since the other two are always changing I thought it was due to the impact being greater on the more widely used bureaus.
Brammy, what do you mean by TU being broken? And do you mean through MyFico or through TrueCredit? I ask because my TrueCredit scores went haywire the other day and the information causing the changes was the same on all 3 bureaus - identical. The results?
TU - stayed the same
EX - dropped over 60 points
EQ - dropped 40 points
MyFico scores? None dropped - all went up ~5 points for the same action (account added).
I know there are variables that make a difference on how actions are scored, but c'mon... when all the info on the reports is the same, there is no rhyme or reason. It almost looks like each bureau is using a different scoring method for each CR.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.