04-27-2013 12:09 PM
I just bought myself the Score Watch monthly membership and only after (of course) did I realize that I am limited to 2 score power reports and 2 equifax reports a year. So I'm confused, for what exactly am I paying the monthly fee?! $180/year for two equifax reports and the fancy graphics by fico twice a year?!
04-27-2013 04:16 PM
Be sure to check out the product description found at the bottom of this page and the SW Guide found stickied here somewhere.
SW is mainly a monitoring product. It does include two EQ FICO reports with the first being used when you first subscribe, and the 2 more being added upon renewal of the subscription. If all available reports are used then you get future EQ FICO reports at 30% off.
The main focus of the product is the EQ monitoring. It monitors your EQ report for key changes like balance increases, stati changes, new accounts, new inquiries, etc. If your EQ FICO changed as a result of that credit change, SW will also give you your new EQ FICO (absent a report). If nothing is happening to your credit, your EQ FICO is monitored every 7-10 days for changes and if your EQ FICO changes and hits or surpasses your EQ FICO then you'll get a new EQ FICO score.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO