Quarterly monitoring product question

[crunching_numbers]

I signed up for quarterly monotoring on 2/7. On 2/15 I recieved an alert that a new phone number was detected.  I thought, cool. Even though this is quarterly for me, it will let me know right away if something identity fraud related happens.  On 2/7 when I reviewed the CR, I saw several other identity issues that were really wrong,  For example, my date of birth.  I immediately called to get the DOB fixed. Here it is 2 weeks later and there has been no alert issued that my DOB was changed on my report.  I am not complaining, but rather just trying to understand how the product works. Why in one instance I was alerted quickly, and this time there has been no alert. 

Can someone chime in to explain the product parameters so that I understand how things work?

Thanks!

[llecs]

Was your DOB correct on the 2/7 pull when you subscribed? Bumping for others as to what it catches and what it doesn't.

[crunching_numbers]

No. That was when I got the report that had the wrong DOB.  I called the same day to get it fixed. I am on Quarterly not SW, so I am sure there is some differences in how and when stuff is checked...

To be clearer:

When I first checked my report it had a lot of mistakes in it (mostly from typos on  my name and address, but one address was just wrong).  I called to get them corrected. One of the mistakes was an incorrect date of birth (completely wrong- wrong month, wrong day, and wrong year).  I don't remember if I gave TU a phone number or not.  I would have if they had asked me for one.

[crunching_numbers]

Update: It has now been over two weeks since TU should have changed the birth date in my credit report and Quarterly monitoring has not detected it. I still have not gotten any feedback from anyone out there about the frequency that the product looks for changes. I just am not sure what to expect, and would hope there would be an alert "Hey, your date of birth was updated on your credit file....".

[Barry]

Hi crunchin_numbers,

There are two sources for FQM alerts:  TU for the quarterly report and score updates, and a source that checks hundreds of other databases for the identity info that triggers alerts immediately.  What you received sounds like it's from the latter.  Any TU report/score changes will appear on your next quarterly update.

Feel free to contact myFICO Customer Care with any specific questions about your report or alerts.

-Barry

[crunching_numbers]

Thanks Barry! That explains it. Most things will only get caught with the quarterly pull.  How does it know about FICO changes then? (just curious...) Is that also in one of these databases, or will it only alert that quarterly?

[Barry]

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@crunching_numbers wrote:

Thanks Barry! That explains it. Most things will only get caught with the quarterly pull. How does it know about FICO changes then? (just curious...) Is that also in one of these databases, or will it only alert that quarterly?

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Score changes will only be reflected quarterly, as they're part of the TU report.  Make sense?

[crunching_numbers]

Yep! Got it now. Thanks for the clarification. I have noticed people flaming on the score watch product, because they do not understand the parameters and/or proper usage for the product. Knowing what to expect and when helps. I appreciate your clarification.  I am going to sign up for SW as well with the discount code, but I am waiting for a change I made to an account to hopefully be updated. Thanks again.