Scorewatch Misunderstanding?

[Anonymous]

I use scorewatch, or pay for it anyway. I seem to misunderstand how it works. I just paid Equifax $10.95 to update me with my current score. I did this because it's cheaper than MyFico' update rate. My score here at MyFico has been sitting steady since April 19th. On that date, I paid MyFico for the update on my score. The Equifax score update I just paid for is 5 points higher than Scorewatch number I paid for on the 19th.

Do I misunderstand Scorewatch in thinking it is monitoring my score without me paying extra?

Do I misunderstand Scorewatch in thinking it will notify me of score changes once detected?

[Anonymous]

no you have it right. And thats exactly why I canceled it. I didnt receive any updates from mid march till about a week ago. On april 1st I pulled a report and my score jumped 25 points. I pulled it again on the 15th and it jumped another 10. Never once did I get a score change alert.

[Anonymous]

Hi attain,

Read the below Score Watch Guide for a full explanation, but in a nutshell, FICO score alerts are checked every 7-10 days, not every day.  Credit alerts are checked every day and if changes are detected you will receive an alert.  So it sounds like your score changed after the 19th, but you won't receive a score alert on that until later. 

http://ficoforums.myfico.com/fico/board/message?board.id=myficoprod&thread.id=373

[Anonymous]

This is one of those times where all I can say is... duhhhhhhhhh

Thanks for putting up with a slow poke.

[haulingthescoreup]

Wow, Jen, thanks for excavating this! I added the link to Barry's post to my siggy.

[Anonymous]

In review of "Barry's post" I am compelled to add the following...

These forums have consistently provided what has to be one of the most treasurable resources available to consumers who seek information/understanding toward the betterment of their credit profiles.

Combine these forums (a direct compliment to all who contribute and manage them), with the MyfICO services available, and I myself cannot think of something as exceptional and valuable. Like I said, treasurable.

Thank you, MyFICO.

[Anonymous]

So, to clarify:

If I set my score threshold very low I will always get notified when there is a change in my FICO score, but besides this, I can log on at any time to see my FICO score?

I noticed when I bought my score and credit report, there is a section where it says what I can do to improve my score and why my score is what it is. Is this section available with ScoreWatch and does it update in real time depending on changes in my credit situation? Can I review this info as frequently as I want?

[llecs]

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Goal800 wrote:

So, to clarify:

If I set my score threshold very low I will always get notified when there is a change in my FICO score, but besides this, I can log on at any time to see my FICO score?

I noticed when I bought my score and credit report, there is a section where it says what I can do to improve my score and why my score is what it is. Is this section available with ScoreWatch and does it update in real time depending on changes in my credit situation? Can I review this info as frequently as I want?

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If there was a score alert (e.g. something that changed the score as outlined in the guide), then that new score will be displayed when you log in each time. However, if you didn't get an alert, you wouldn't see any score changes.

The pos/neg items listed on pages 2 and 3 of your report are only viewable when you buy a new report or view an old one. SW doesn't provide that info.

[Anonymous]

Do we get an alert if an account changes from "open" to "closed" or "paid"?

They say the alerts cover "account status changes", but then give an example of "charge-off", etc.

[llecs]

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atomicleda wrote:

Do we get an alert if an account changes from "open" to "closed" or "paid"?

They say the alerts cover "account status changes", but then give an example of "charge-off", etc.

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It worked for me when my car note was paid off. The status had changed to "closed".