Valued Contributor
Posts: 1,615
Registered: ‎09-15-2012
Re: FICO Monitoring Deficiency

Sebago wrote:

I have been a FICO® Quarterly Monitoring subscriber for about 5 years. I just received my quarterly report and noted that a BOA CC I co-signed showed up on the report. Although legitimate, I am concerned I never received a FICO alert regarding this new account. The card was opened on Oct 4th and has been used.   I spoke to My FICO about the lack of an alert and was told that since the CC company is now just reporting that they (My Fico) would only now be cognizant of the new CC account and that I would likely receive an alert on this coming Friday when they send out the weekly email I requested. To me this is a flaw in their system. I’m not sure how it can be rectified but this means someone could fraudulently open a new account under my name and use the card for many weeks (+7 in this case) before I would be aware of the new account.   Considering canceling my subscription.   

So you plan to cancel your monitoring subscription, and thus not receive any monitoring alerts, because the system alerted you late?  In effect you are saying you would rather receive no alert at all than a late alert...

In My Wallet: Amex BCP (12/12) $32,000, Chase Freedom (12/12) $16,500, Citi Forward (12/12) $14,600, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Thank You Premier (6/15) $6,800

Last App: June 27, 2015