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SCORE WATCH..NOT WATCHING

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kg2488
New Contributor

SCORE WATCH..NOT WATCHING

It bothers me when I pull my report and my score has increased 10 points and yet no alert is ever recieved. Still waiting for that alert! My settings are right..anyone else experiencing the same thing? I mean we are paying for this service. Boo

Message 1 of 14
13 REPLIES 13
drkaje
Senior Contributor

Re: SCORE WATCH..NOT WATCHING

It bothers me, too.

 

I've gone back and forth with simply cancelling the service and buying the occasional report. It shouldn't take using score power reports to get updated scores.


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 2 of 14
Gunnar419
Valued Contributor

Re: SCORE WATCH..NOT WATCHING

I agree. There are definitely things I like about SW. But something called Score Watch should report every score change.

 

 

 

Message 3 of 14
kg2488
New Contributor

Re: SCORE WATCH..NOT WATCHING

I couldn't agree more. It seemed like when I first joined it did just that..then after awhile I noticed it not reporting like it use to. The only real benefit I see at this point is the discounted reports. I really wish they discounted the TU too!! I think they offered me that 1 time but I haven't seen it since. SW..It's not BAD but it could definitely be better.

Message 4 of 14
drkaje
Senior Contributor

Re: SCORE WATCH..NOT WATCHING

I should have an update soon. EQ premium and CK already picked up the balance decreases a few days ago.


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 5 of 14
Erika3o3
Regular Contributor

Re: SCORE WATCH..NOT WATCHING

Its very irritating. Im also not recieving score updates. Ugh

Fico 8 Scores as of 5/29/21
Equifax: 606 / Transunion 641 / Experian 647

Captial One Platinum: $500
Capital One QuickSilver: $2000
Discover IT: $1,500
Kohls: $300
Message 6 of 14
drkaje
Senior Contributor

Re: SCORE WATCH..NOT WATCHING

I'm itching really bad, LOL!


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 7 of 14
llecs
Moderator Emeritus

Re: SCORE WATCH..NOT WATCHING

If it matters to anyone, I received 2 alerts in the past few days. One was a score alert because my EQ FICO surpassed my target score. It was like a 30-some-odd pt bump. It didn't cite the reason, but I suspect it was due to lowered util. The score changed probably happened around the 5th and the weekly or so monitoring caught it and provided an alert. I immediately changed my target score to exactly match my known score. The second came last night and was a credit alert for a balance increase. I had a CC increase by $40 or so and received a score increase of +1. There likely would have been balance decreases on other CCs playing into that. I again immediately changed my target score by 1 pt.

 

What's true of the parts is not necessarily true of the whole. Mods (and anyone else wanting to help) can't see your personal info and settings and I can only guess or make suggestions. I know some of you veterans in here know this, but always, always, always, always set your target score IMMEDIATELY after receiving any sort of score or credit alert. Always look for the e-mailed alert and reset that score immediately upon seeing the change. Score alerts are based off the target score and if you reset that target even a day later, then that can throw off your alerts if you had a score change a day later. For example, if it increased then increased again the following day, you still might have the old target in place and you won't get any alert because the new score didn't hit or surpass your target score.

 

Always set your target score to EXACTLY match your known score. As mentioned, waiting a day will throw off your alerts, but also setting your score too low or too high will result in no score alerts. When I first joined I set my target score to 750 IIRC. My current EQ FICO was in the mid-500s. Had I relied on the target it would have taken me about 2 years before I received my first score alert because it took 2 yrs to bring up my scores to 750. Some have said to set your target to +1, but that's wrong too, If the score decreases for any reason then you won't get any score alert. Always set it to exactly match your EQ FICO and do so if you pulled or recieved an alert for that score that day. Like I said, waiting a day to reset that target could mess up the process. Set it to match. When you see a score change immediately reset the target. As you get more alerts reset it again and again and again. Lather, rinse, repeat. If they ever redo SW, I'd love for them to make a setting that would allow us to let SW reset the target after each score change.

 

Patience is a virtue. I just need patience now. Absent a subscription to a CMS, it's hard to tell when your CCs update. Aside from stati changes, many of your alerts are due to balance increases on CCs. As you know, you will get alerted if a CC balance increases, but if it decreases, you won't get any alert because SW doesn't alert to that. However, SW's fallback feature are score alerts. If your score changed as a result of the debt paydown, then you can get alerted if your score changed provided it hit or surpassed your set target score. Unfortunately your EQ [FICO] isn't monitored daily. It says in the product description, IIRC, that your EQ FICO is monitored for changes every 7-10 days. When you pay down a CC your balance doesn't change on your CR immediately (assuming you don't use it). It'll report only following your statement date. So let's say the paydown was the 5th and the statement reflected that when it gets cut on the 15th (as an example). Let's assume the paydown resulted in a score change. If the statement gets cut on the 15th, it'll very likely report by the 20th to EQ. At that moment your EQ FICO changed. If the EQ FICO is monitored every 7-10 days, then despite paying off the CC on the 5th, you may not get alerted until the 30th and that's assuming your score changed and assuming your target was correctly set.

 

Not every balance decrease will result in a FICO change. There are many examples in here of debt paydown of 90% to 40%, as an example, only to see no score change at all. Too many people (myself included) assumed that large paydowns always resulted in a FICO increase. Not so. It all depends on your credit, whether or not util was listed as a top negative, etc. 

 

Not every collection removed will result in a FICO increase, or even a FICO change. There are examples in here of CAs or even judgments dropping only to result in no FICO change at all. Again, it depends on your overall credit. If you have 10 CAs reporting, and one drops, I wouldn't expect any increase (though it isn't impossible). In some cases, a dropped charge off or collection can result in a score decrease due to rebucketing if a last baddie or loss of AAoA and/or length of history if a CO. I've personally have lost points when removing an old CO. If that target score w/in SW is too high, then there's no alert at all.

 

All of the above deals with score alerts. Credit alerts are a bit different. With any credit alert, you will get alerted to a score change if there is one and will at least get a mention of no score change if your score didn't move. Credit alerts come in after a new inquiry, new TL reporting, status change, etc. I've seen some posts in here asking about why they didn't get an alert for a new inquiry. The assumption there is that the creditor pulled EQ. They don't always pull EQ and therefore no alert. Or I've seen some posts in here complaining about a lack of an alert after adding new credit. When you apply for a CC it doesn't report right away. Most report within a month, but some have taken up to 2-3 months to report. Minus its reporting, there would be no alert, and that's assuming the creditor reports to EQ at all.

 

I rambled too much. Most of the missed alerts out there are score alerts due to the lack of understanding of the product. Hopefully the above might help someone. Now if you get any credit alerts, you will get alerted right away with a new EQ FICO. In my rebuilding days I used to get up to 4-5 alerts per week, but I also had a herd of baddies reporting. I've been a subscriber for as long as I've been a member here. It hasn't been flawless and I do recall a one week period where it fell apart with everyone complaining about it. Aside from that it has done as advertised and I don't think I've ever missed an alert. But again, what is true of the parts....

 

 

Message 8 of 14
drkaje
Senior Contributor

Re: SCORE WATCH..NOT WATCHING

@ Ilecs,

 

I'll give it one more day before burning a score power report, LOL!

 

There's probably some weird formula that predicts how often people will order scores based upon the number of updates they receive. Smiley Happy

 

Have to run... one of the carbon monoxide detector's batteries is dying and I have to find it before bed.


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 9 of 14
llecs
Moderator Emeritus

Re: SCORE WATCH..NOT WATCHING

beep

 

 

 

 

 

 

 

 

 

 

 

 

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Message 10 of 14
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