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Member
Posts: 12
Registered: ‎03-06-2013
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Delays in the Alerts and Score Watch Membership

I just got off the phone with FICO because I have two accounts that now reflect a $0.00 balance according to my current TU and EX reports (I subscribe to both).  When I contacted FICO I was told that they are a "third party provider" and it may take 30 - 45 days for the new balance information to be reflected or updated with my Score Watch membership - unless (of course), I want to purchase another Power Score Report.  

 

30 - 45 days won't due me any good when I go to apply for preapproval for a mortgage on Friday.  Looks like I'll be spending an additional $13.95 on top of the $15.95 that I already pay for my monthly membership.   I thought the membership included current information.  The reason I got the membership was to monitor my score, alot can change in 30 - 45 days. 

 

Does anyone else have this problem?

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Delays in the Alerts and Score Watch Membership


MissMayhemm wrote:

I just got off the phone with FICO because I have two accounts that now reflect a $0.00 balance according to my current TU and EX reports (I subscribe to both).  When I contacted FICO I was told that they are a "third party provider" and it may take 30 - 45 days for the new balance information to be reflected or updated with my Score Watch membership - unless (of course), I want to purchase another Power Score Report.  

 

30 - 45 days won't due me any good when I go to apply for preapproval for a mortgage on Friday.  Looks like I'll be spending an additional $13.95 on top of the $15.95 that I already pay for my monthly membership.   I thought the membership included current information.  The reason I got the membership was to monitor my score, alot can change in 30 - 45 days. 

 

Does anyone else have this problem?


Don't assume that if EX and TU changes, then EQ would too. SW monitors only EQ. I subscribed to several credit monitoring services where I can pull all 3 reports daily. Many, many times accounts updated on one report but not the other. Your CCs and loans don't report and update all three on the same exact day. There is usually a lag sometimes of several days or more. In other words, if you saw a $0 balance on EX and TU, it doesn't mean it would be like that on EQ too.

 

Now effective this past week SW just started alerting to dropped balances, whereas they didn't prior to then. When did you notice a $0 balance on EQ? I think it is last Wednesday that they enhanced SW. So if the balance changed before then you wouldn't have received an alert for a dropped balance. However, SW does monitor your EQ FICO for changes every 7-10 days if you haven't received a SW alert for any report changes and if the $0 balance results in a FICO change and that FICO change hit or exceeded your target score in SW then you still could get an alert.

 

 

Member
Posts: 12
Registered: ‎03-06-2013
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Re: Delays in the Alerts and Score Watch Membership

The first balance that reported $0.00 was my credit union and they reported it 6/3 to TU and EX.  I was told by FICO that I could buy a new report and it would probably reflect the new balance.  And yes, my credit union DOES report to all bureaus on the same day.  I've confirmed it with them.  It's actually automatic at my credit union.  My LO said that they would not report to 2 credit agencies and then  forget one.  They report once a month, on the 30th and it usually posts to my credit reports by the 6th - dependent on where the weekend would fall in that range. 

 

And I'm not just making a guess, FICO said it could be up to  30 - 45 days before new information posts unless I want to purchase another report.

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Delays in the Alerts and Score Watch Membership

The 30-45 days is just a line...

 

Even if your lender reports the exact same day, the CRAs will not update the exact same day. If you were to compare your EX and TU services/reports and do it on a daily basis to see the differences, you'll very rarely see TU and EX update at the exact day. TU always lags for folks.

 

On the 6/3 update, let's say it updated a week late, to 6/10. Even then, SW didn't alert to dropped balances at that time. You wouldn't have received an alert for that debt paydown. Now SW alerts for score changes. So if your new EQ FICO hit or exceeded your target score then there could be an alert for that. Though not every debt or CC paydown will result in a FICO increase. I'm certain your lender would see a $0 balance now though.

Member
Posts: 12
Registered: ‎03-06-2013
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Re: Delays in the Alerts and Score Watch Membership

I understand that you're playing devil's advocate here but this isn't my first day doing this.   I asked if anyone else had experienced anything similiar.  I didn't come here to be told why I shouldn't expect the service that I'm actually paying for.

 

Never, and it bears repeating, never have I ever not seen a credit score go up when $500 + balance disappears and the two that I eliminated had a combined total of $2300.   I've been playing this game for the last year and a half and up until this last week (when I acutally needed it) updates have occured with a fair amount of consistency.  

 

It's just disappointing.  You say TU lags when for me it's always been the first to report.   Experian updating is spotty as well but at least you I only shell out  $6.95 a month for membership (they dropped my price when I called to cancel) and $4.95 per new report through CreditScore.com.  Maybe it's regional.

New Contributor
Posts: 56
Registered: ‎05-28-2013
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Re: Delays in the Alerts and Score Watch Membership

I am wondering about that too and I think its BS what they are doing.I pay 14.95 each month to check my score and they want me to pay another 13 dollars to refresh(update) my score??

Member
Posts: 6
Registered: ‎03-15-2011
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Re: Delays in the Alerts and Score Watch Membership

Score watch is painfully slow or doesn't update unless I pull a new report. Freebie credit monitors like creditkarma, creditsesame and quizzle notify me of newly opened accounts, CLI's and credit pulls days and weeks in advance of score watch. Something just doesn't add up with score watch.
Member
Posts: 12
Registered: ‎03-06-2013
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Re: Delays in the Alerts and Score Watch Membership

[ Edited ]

I can pull my TU every 24 hours for FREE and I only pay $4.95 for the experian.  Here they charge $19.95 a piece.  

 

I agree - it doesn't add up.  Buyer beware.

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Delays in the Alerts and Score Watch Membership


MissMayhemm wrote:

I can pull my TU every 24 hours for FREE and I only pay $4.95 for the experian.  Here they charge $19.95 a piece.  

 

I agree - it doesn't add up.  Buyer beware.


I certainly can't speak for others, but I come to myFICO for the education on the forums as many on here helped me and for the FICO scores. I don't come here for the reports; you can get them for free elsewhere. It's the FICO that has me shelling out $20 or less (due to the subscriptions).

Member
Posts: 12
Registered: ‎03-06-2013
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Re: Delays in the Alerts and Score Watch Membership

I came here and paid specifically for the Score Watch aspect of the membership but I now know and fully understand FICO's terms.  They are a third party provider and at their discretion they will update your information within a certain time frame.  The only reason I update my reports on the other sites is to update the scores they provide.

 

Score Watch service make the claim that you can "Achieve financial goals by tracking changes in your credit health."  If you then hover your cursor right over the track changes in credit health, a little window pops up that says "You will see your FICO score every time a change is detected in your credit report."  It says nothing regarding the potential 30 - 45 day delay.  I'll pay for another report on Friday.  And then I will see if any changes have occurred to my Equifax credit report.  I have no choice if I want to know my score.

 

http://www.myfico.com/Products/Products.aspx

 

I'm glad it works for some people.  I just expected more current information.  

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