04-20-2017 05:51 PM
I am working to improve my credit score and I would like to be able to get updates when my credit score changes in any way.
But the myFICO product that will do that is awful expensive.
Is there a more economical way to get this information in a timely manner without spending hundreds of dollars which, ironically, I am trying to save...
04-20-2017 09:48 PM
Even the myFICO producs do not give you updates every time your score changes. Rather, they give you updates when a certain limited subset of changes happen to your reports.
I'd be glad to suggest some free or ultra low cost options. Can you tell us more what your situation is now, and what your goals are for the short medium and long term?
04-20-2017 09:53 PM
PS. You have some company in not wanting to spend money on credit monitoring. I personally use free tools for almost everything I do. So don't feel like you have to spend a lot to be serious about this stuff.
04-21-2017 04:29 AM
Thanks for taking the time to respond.
I have resolved (paid) several collections.
I have also got my bill-paying on track with zero late payments over time.
I am currently doing a refi on my high-interest mortgage.
So I'd like to closely track my credit reports so as to know when there are changes (hopefully score increases, too).
I'm also trying to scrimp and save - thus my disappointment at the high costs associated with doing so.
Many thanks in advance.
04-21-2017 07:45 AM
What is your timeline for the mortgage re-fi? For example, has the re-fi already been execited and you are just waiting for things to materialize on your reports?
Have you purchased any of the myFICO products yet? (Not pushing you to do that, just gathering information.)
04-21-2017 12:00 PM
Which FICO score(s) are you looking to track? The commonly used FICO 8 score, or the older FICO versions used in mortgage underwriting? Or both?
Hi Sarek. Yeah, that's why I am trying to get our OP to tell me more about the state of his mortgage re-fi. If the paperwork is largely done, then he just needs to track his reports and his FICO 8 scores (he can ignore the mortgage score). If he has not yet applied for the re-fi, then he'd benefit a lot from a short-term credit monitoring package that allows him to see his mortgage scores once a month. The latter costs money (I am thinking of myFICO Premier) which we should avoid suggesting to our friend here unless we are sure he needs it.
04-21-2017 01:25 PM - edited 04-21-2017 01:26 PM
Sarek and DIxie, I'd like to track the Big Three agencies with one product. I understand that the FICO the consumer sees is not the same as lenders, but I don't anticipate needing more than that as my current refi loan application appears to be headed toward a happy closing.
So being alerted of changes to my (3) credit reports and any FICO score change would be great.
Many thanks, guys.
04-21-2017 03:10 PM
There's no product out there that will alert you to any change to occurs to your score for all three bureaus. Alert-based credit monitoring solutions (CMS's) only alert you to some changes to your reports, but many changes can happen to your score that a CMS does not tell you about.
You have some competing needs/desires, which happens almost any time we are shopping for something. It even applies to looking for a new job, a new church, a possible person to go on a date with. There is typically no thing or person that will meet all our needs perfectly. And indeed, some needs might be tension with one another.
In your case two needs that are in tension are cost and everything else (including the requirement that the CMS be only one product -- you want one thing rather than a solution built out of a 2-3 possible free products).
How important is it to you that it be exactly one product? If that's a deal breaker, you may want to try Credit Check Total. There used to be a method that people here knew of getting it at a reduced rate of $15 per month, rather than its usual $30 per month.
Alternatively, if you are willing to go with some free tools, we can suggest some options that would cost you $1-4 a year. They would, however, involve using multiple tools.
04-21-2017 04:49 PM
Thanks so much Dixie. I'm doing the CreditCheckTotal.com $1 trial for 7 days. The play to get it for $15 appears to be just to cancel the membership on Day 7 and then play hard-to-get when you do so.
And I've got a lot of reading to do on this forum, especially that thread that has links to the most requested threads.
So grateful for the good advice.