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Is Scorewatch worth 15 bucks a month?

Contributor

Is Scorewatch worth 15 bucks a month?

So far I have had score watch for over a month and it told me I had 2 increases on my credit report because of 2 new inq's I thought inq's lowered your score. And how accurate is the score that Scorewatch is telling me? I have haded 4 lines of credit last month and since my first report the score has slowly been going up still. 


Starting Score: EQ FICO 582, TU 614, EX 528 9/13
Current Score: EQ FICO 648, TU 678, EX 663
Goal Score: 700


Take the myFICO Fitness Challenge
Message 1 of 13
12 REPLIES
Moderator Emeritus

Re: Is Scorewatch worth 15 bucks a month?


jbrown773 wrote:

So far I have had score watch for over a month and it told me I had 2 increases on my credit report because of 2 new inq's I thought inq's lowered your score. And how accurate is the score that Scorewatch is telling me? I have haded 4 lines of credit last month and since my first report the score has slowly been going up still. 


With any credit alert, SW will give you your latest EQ FICO. The alerts can be misleading. The score change is a NET score change and can easily include other factors like util changes, account changes, etc. Like in your example, I've posted over and over my example of a +20 because I added an inquiry. The inquiry didn't increase my score but it was a baddie dropping that led to the increase. In your example, there could be several other things happening like util improvements, aging of your TLs, etc. 

Message 2 of 13
Contributor

Re: Is Scorewatch worth 15 bucks a month?


llecs wrote:

jbrown773 wrote:

So far I have had score watch for over a month and it told me I had 2 increases on my credit report because of 2 new inq's I thought inq's lowered your score. And how accurate is the score that Scorewatch is telling me? I have haded 4 lines of credit last month and since my first report the score has slowly been going up still. 


With any credit alert, SW will give you your latest EQ FICO. The alerts can be misleading. The score change is a NET score change and can easily include other factors like util changes, account changes, etc. Like in your example, I've posted over and over my example of a +20 because I added an inquiry. The inquiry didn't increase my score but it was a baddie dropping that led to the increase. In your example, there could be several other things happening like util improvements, aging of your TLs, etc. 


So the SW number is actually accurate? And not just a suggestive number with the recent activity occurring,   


Starting Score: EQ FICO 582, TU 614, EX 528 9/13
Current Score: EQ FICO 648, TU 678, EX 663
Goal Score: 700


Take the myFICO Fitness Challenge
Message 3 of 13
Moderator Emeritus

Re: Is Scorewatch worth 15 bucks a month?


jbrown773 wrote:

llecs wrote:

jbrown773 wrote:

So far I have had score watch for over a month and it told me I had 2 increases on my credit report because of 2 new inq's I thought inq's lowered your score. And how accurate is the score that Scorewatch is telling me? I have haded 4 lines of credit last month and since my first report the score has slowly been going up still. 


With any credit alert, SW will give you your latest EQ FICO. The alerts can be misleading. The score change is a NET score change and can easily include other factors like util changes, account changes, etc. Like in your example, I've posted over and over my example of a +20 because I added an inquiry. The inquiry didn't increase my score but it was a baddie dropping that led to the increase. In your example, there could be several other things happening like util improvements, aging of your TLs, etc. 


So the SW number is actually accurate? And not just a suggestive number with the recent activity occurring,   


Accurate to what? The FICO offered via myFICO and likewise through ScoreWatch is called a Beacon 5.0. This score is used by a vast majority of mortgage lenders. Now lenders can pick or choose what kind of FICO score(s) they want to provide, so not every lender uses it (e.g. CC lenders, car lenders).

Message 4 of 13
New Contributor

Re: Is Scorewatch worth 15 bucks a month?

I also use Credit Karma & I'm not sure I get anything from Scorewatch I don't get for free from them. Everything that would be new costs extra. Almost everything costs extra!
Message 5 of 13
Moderator Emerita

Re: Is Scorewatch worth 15 bucks a month?

@RainaB13

Credit Karma pulls from your TU report only and since they don't count closed accounts -the calculations relating to AAOA will be off. Not to mention the CS provided is a FAKO.
Message 6 of 13
Moderator Emerita

Re: Is Scorewatch worth 15 bucks a month?

@RainaB13

Credit Karma pulls from your TU report only and since they don't count closed accounts -the calculations relating to AAOA will be off. Not to mention the CS provided is a FAKO.
Message 7 of 13
Regular Contributor

Re: Is Scorewatch worth 15 bucks a month?

I called all 3 agencies today and told them if they did not drop my monthly fee I was going to cancel as I could not see where getting a credit report I can get from someplace else and a score that a lender laughs at does me any good. After each one Eq Ex and Tr went into what their service provides ALL 3 dropped their prices or gave me free months. One dropped the price 50% for 2 years and by that time I will long have the mortgage I want and not have to watch these on a daily basis. I was happy as 60 a month was just stupid to pay. Scorewatch worth it ??? NO WAY. It's a scam and a racket. MyFico is next. Either they drop it or add benefits or I am out of here too. I don't think there is another post to read I have not read. So Myfico I need a price break or you are about to lose a customer.

 

3 down 1 to go and I do go to Karma and Sesame too but they are just FAKO that mean nothing. Their alerts show up 3 days late almost like here. 

Starting FICO Score 2007: >> >> 533 -- God those were some Dark Days !!
Current >>>> 9-29-15 - (Experian 800 FICO-8 - (Equifax 798) - ( Transunion 808 )FICO Goals: 820-830 For all 3 or above
Ultimate Fico 850 x 3 Even if for a week Just to say I crawled out of the sewer and trust me it was the pits. I could not borrow a cent
Message 8 of 13
Moderator Emeritus

Re: Is Scorewatch worth 15 bucks a month?


paramed3 wrote:

I called all 3 agencies today and told them if they did not drop my monthly fee I was going to cancel as I could not see where getting a credit report I can get from someplace else and a score that a lender laughs at does me any good. After each one Eq Ex and Tr went into what their service provides ALL 3 dropped their prices or gave me free months. One dropped the price 50% for 2 years and by that time I will long have the mortgage I want and not have to watch these on a daily basis. I was happy as 60 a month was just stupid to pay. Scorewatch worth it ??? NO WAY. It's a scam and a racket. MyFico is next. Either they drop it or add benefits or I am out of here too. I don't think there is another post to read I have not read. So Myfico I need a price break or you are about to lose a customer.

 

3 down 1 to go and I do go to Karma and Sesame too but they are just FAKO that mean nothing. Their alerts show up 3 days late almost like here. 


People don't buy a FICO score because of the price. They buy it because it is a FICO and it's the score primarily used by lenders. Like with CK and CS, you can get all 3 credit scores for free (just not from here).

Message 9 of 13
Regular Contributor

Re: Is Scorewatch worth 15 bucks a month?

It's our information it should be FREE !!! It's an accumulation of Data of us and should be given to us not used to gouge us with hopes it has moved and you know LLecs that is True !

Starting FICO Score 2007: >> >> 533 -- God those were some Dark Days !!
Current >>>> 9-29-15 - (Experian 800 FICO-8 - (Equifax 798) - ( Transunion 808 )FICO Goals: 820-830 For all 3 or above
Ultimate Fico 850 x 3 Even if for a week Just to say I crawled out of the sewer and trust me it was the pits. I could not borrow a cent
Message 10 of 13