01-09-2013 07:21 AM
SW monitors your EQ report and EQ FICO score for changes. There are two types of alerts: a credit alert and a score alert. Credit alerts happen whenever there are major changes to your EQ report like balance increases (not decreases), new accounts, new inquiries, changes in stati, etc. Whenever you get a credit alert, SW will grab your latest EQ FICO score and provide that for you. So, if changes are happening daily, you can literally get a new EQ FICO daily.
However, there are some who are coasting into the credit sunset. They aren't getting any credit alerts because there's nothing to be alerted to. As a fallback, SW also provides score alerts. Absent any credit alerts, SW will begin monitoring your EQ FICO score for changes and does so every 7-10 days. Score alerts are based solely off your set target score found within your settings. Anytime your EQ FICO hits or surpasses your target score you will get a score alert within those 7-10 days. For best results, always set your target score to EXACTLY match your current EQ FICO. That way if your EQ FICO increases or decreases you'll get a score alert absent any credit alerts. If set below your EQ FICO, you will not get any alerts until your score drops below that threshold. Conversely, if set too high, you will not get any score alerts until that goal is met. When I first started with SW my EQ FICO was in the 500s. My goal was set at 800 and it was a long time before I realized why I wasn't getting any score alerts. As your EQ FICO changes, immediately reset your target score.
Read the Guide below for more detailed info as to what it catches and what it doesn't catch (e.g. dropped accounts, dropped balances, etc.).