@JonRun wrote:
It automatically alerts you if your score drops any amount so I get an alert when my score goes up or down.
Not always. Whenever your score drops usually the drop is associated with an added account, increased balances, or added baddie. In a case like that, SW will alert you to your new score with the credit alert. However in some situiations, your score can drop and you won't even get alerted if your target score is set one point above your current score.
For example, let's say your settings are set to alert you to increases in balances by $5 and/or 5%. I believe the minimum is 5. If delayed interest on a CC hits and it is less than $5, then you won't get a credit alert. Furthermore, if that one extra TL has an added balance, there's a chance for your score to drop and you won't even know it because the target score is set too high.
Another example...let's say you are rebucketed. Everyone's credit varies, but in some situations you can be rebucketed and lose points. There's no credit alert to alert you of any changes, and you won't get a score alert for the drop because the new score didn't surpass the target score...in never hit it or moved away from it to trigger an alert.
Finally, the most common score drop that won't ever trigger a credit alert is a dropped account. Let's say your oldest falls off or one of your oldest accounts drops off impacting AAoA. You don't get credit alerts to dropped accounts, and you won't get a score alert if that drop caused a lower FICO. You won't get it if your target score is set one point above your current score.
