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Valued Member
Posts: 114
Registered: ‎04-22-2013
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How to Update MyFico Score on this site

I got the free 10 day trial for myself and my husband on this site. When I log in to mine it's updated twice since getting it. However, when I log into my husbands, it only has the initial report. I know some baddies have dropped off because I subscribe to EliminateIDTheft and pull all 3 daily...

 

Is there anyway to update it on here or do you only get that inital score with the free trial? 

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: How to Update MyFico Score on this site

When did the baddies drop off your DH's Equifax report?

Valued Member
Posts: 114
Registered: ‎04-22-2013
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Re: How to Update MyFico Score on this site

Thank llecs! They dropped off 2-3 days ago

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Posts: 32,869
Registered: ‎08-04-2007
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Re: How to Update MyFico Score on this site

SW (like other CMSs out there) doesn't alert to dropped TLs. However as a fall back, SW will monitor your EQ FICO every 7-10 days for changes. If your EQ FICO changes when your EQ FICO is monitored next and your new EQ FICO hits or surpasses your target score within your settings, then you'll get an alert with your new score.

Valued Member
Posts: 114
Registered: ‎04-22-2013
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Re: How to Update MyFico Score on this site

Thank you for explaining that! 

Established Member
Posts: 82
Registered: ‎05-06-2013
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Re: How to Update MyFico Score on this site

So you should set your alert to your current score, and if/when your CS moves, it will update to the new score and alert you.

 

Correct?


Amex CS scores - EX-745 / EQ-745 / TU-767 (6/28/13)
BankAmericard Cash Rewards - 10k, MAFCU Visa Rewards - 10k, Chase Freedom - 2500, Discover IT - 2000, Barclay Apple - 2000, AMEX BCE - 2000
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Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: How to Update MyFico Score on this site


sdotlow wrote:

So you should set your alert to your current score, and if/when your CS moves, it will update to the new score and alert you.

 

Correct?


Yes, and then repeat the process by immediately resetting that target score. Score alerts are based off the target score and your current EQ FICO is checked for changes every 7-10 days. So, if you are lacking changes to your EQ CR, and your EQ FICO moves as a result of rebucketing, dropped balances, dropped accounts, etc. or other items not picked up by a credit alert then a score alert will at least provide you with an update.

Established Member
Posts: 82
Registered: ‎05-06-2013
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Re: How to Update MyFico Score on this site

So just to clarify...

 

1) (Example) I have my Score Alert set to my current score of 720.  I hit my credit card debt with a 3k payment.  When that reports to credit bureaus, it will alert and update the credit score to what the new FICO score is, lets say 735.  Now it will be 735 and your Score Alert now gets manually adjusted to 735 so you can be prompted if it moves again.  This is how it works?

 

2) You mention lacking changes to EQ CR.  Besides Score Alert updating the credit score, does it update your Credit Report profile?  All of your debts, etc?

 

Thanks


Amex CS scores - EX-745 / EQ-745 / TU-767 (6/28/13)
BankAmericard Cash Rewards - 10k, MAFCU Visa Rewards - 10k, Chase Freedom - 2500, Discover IT - 2000, Barclay Apple - 2000, AMEX BCE - 2000
Gardening as of 6/28/13
Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: How to Update MyFico Score on this site


sdotlow wrote:

So just to clarify...

 

1) (Example) I have my Score Alert set to my current score of 720.  I hit my credit card debt with a 3k payment.  When that reports to credit bureaus, it will alert and update the credit score to what the new FICO score is, lets say 735.  Now it will be 735 and your Score Alert now gets manually adjusted to 735 so you can be prompted if it moves again.  This is how it works?

 

2) You mention lacking changes to EQ CR.  Besides Score Alert updating the credit score, does it update your Credit Report profile?  All of your debts, etc?

 

Thanks


1) In my prev. post I was talking more about score alerts vs. credit alerts. Score alerts are based on your target score found within settings. Using your example if you pay $3000 and you limit your CC usage prior to the next statement and that next statement shows a lower balance, then SW will alert you to that lower balance via a credit alert (not a score alert). Credit alerts will show you the change that occurred, namely the lower balance. Within the same credit alert SW will also provide you your new EQ FICO if your FICO changed. The target score is not involved here at all through credit alerts. If your EQ FICO did not change due to the debt paydown then it'll be absent any score change mention within the alert.

 

I should note that effective this week via an e-mail to everyone SW will now alert to dropped balances. I'm guessing it starts this week, but we'll see. This is a big move for myFICO and many of us have been harking on them to add this to the SW subscription. Before if you paid down balances you would not get a credit alert with your new EQ FICO. You had to wait up to 7-10 days later in order to be alerted for your new FICO via a score alert and that was only assuming the target score was correctly set. I mention this because my prior post says you wouldn't get alerted to dropped balances, which is no longer the case.

 

Even though SW will alert you more often now you should always be in the practice of changing your target score found within Settings. Once your FICO increases or decreases for any reason, immediately go into settings and reset that target score to EXACTLY match your last known FICO. That way if you don't get any credit alerts you'll at least be in a position to receive score alerts if your FICO changes any. Lather, rinse, repeat. I manually change that target score up to several times each month because that's how many times my FICO changes (At least).

 

2) If I am unterstanding #2....Your credit report is changing all the time. Outside of SW alerts or a subscription or purchase through another company or service or via a lender, there is no way to know of the changes to your CR. The report you get when you first subscribe will never change. That's the snapshot in time of your report for that day only. The data will change. I have 20+ active accounts so I have at least 20+ changes to my CRs monthly. But the only way I will get alerted to them is via SW and one other CMS I subscribe to. I hope I answered that.

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