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SW - How often does it update?

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zullyquirke
Contributor

SW - How often does it update?

Hello all! I enrolled in Score Watch a few weeks ago, July 22nd to be exact. Can you let me know how often I can expect my score to be updated? I haven't gotten any alerts so far (though I already got a couple on another CMS, which worries me a little..)

 

And really, how does this work? I don't have to pay for another report every time I want to see my updated score, do I? 


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llecs
Moderator Emeritus

Re: SW - How often does it update?

This is a good start....

 

Score Watch Guide

 

Message 2 of 4
zullyquirke
Contributor

Re: SW - How often does it update?

This seems to say it's checked daily.. if that's the case, why is it mine hasn't been updated since July 22nd? 


Message 3 of 4
llecs
Moderator Emeritus

Re: SW - How often does it update?

There are two type of alerts: credit alerts and score alerts. Credit alerts are daily and those monitor increased balances (not decreased), status changes, added TLs, added inquiries, changes in comments, added baddies (not dropped), etc. The second are score alerts. Your score is monitored every 7-10 days. While it is possible for your EQ FICO to change daily if you have lots going on, it is also possible to go weeks without any score movement up or down. So, SW will monitor your EQ FICO for any changes. Absent changes, you'll often get alerts every 7-10 days saying that there were no changes. On the flip side, if you had something that changed on your CR like any of the above, then you can get alerted to your new score if your FICO score changed, and those can come daily if these credit changes produced a score change.

 

Another key component is your "Target score". ALWAYS set your target score to exactly match your current known FICO score. As you get score alerts, then come back in immediately and update the target score. That way if your score increases or decreases, you'll get a score alert. When I first signed up, I set my target score to 800 (I started around 550 and I never ever hit 800). Had I not changed my target score, I still would not have received any score alerts to this very day, though would have been alerted if any of the above happened and my score changed due to that.

 

I don't know what's on your CR or what changes are happening, but if nothing is going on, then you wouldn't get any score alerts. Just make sure your target score is set right.

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