02-20-2013 09:36 PM
So, over the last week or so, Ive had a number of credit changes. Deletions, inquiries, etc. No score watch alerts at all. I did have it set to my current credit score. Tonight I log in, and it says I have a power report available. So I go ahead and click on it, and it makes me agree to various terms, saying it will pull my credit etc. It give me my score, which is significantly higher than it had been, and also lists the new inquiry. So, what is this power report, how often can I expect one without paying additonal money, and why hasnt scorewatch been notifiying me of all these changes?
02-20-2013 10:32 PM
SW doesn't alert for deletions (well any CMS as far as that goes).
SW will alert for new inquiries on EQ.
SW will check for changes in EQ FICO every 7-10 days and will alert based off your target score found within settings. If the new score hit or surpassed the set target score, then a score alert would be generated sometimes within those 7-10 days from that change.
02-21-2013 07:43 AM
Ok, Thanks. I was mistakenly under the impression that it would be monitoring it daily and would instantly alert me to changes in my credit and/or score.
02-21-2013 09:57 AM - edited 02-21-2013 10:01 AM
SW monitors for Credit Alerts daily. These would include inquiries on Eq, new TLs on EQ, stati changes on EQ, balance increases (not decreases) on EQ, and other items. If there's a credit alert, then SW will grab your latest score as of that moment if your score changed. IME, I've received several alerts within a week's span before because I had lots going on. Now I don't receive any credit alerts because nothing is going on. However, SW monitors for Score Alerts every 7-10 days. If there's nothing going on within your CRs, then your EQ FICO is monitored for changes every 7-10 days and if there is a change it'll alert you to that, or otherwise it'll give an e-mail saying it has been monitoring your credit for changes and that nothing is happening. ETA....Score Alerts are based only off your target score. If after every 7-10 days of monitoring your new score hits or exceeds your set target score then that's when you'd get the alert. If you set your target too high, then you won't receive any score alerts until that target is hit. Conversely, if set high and your score drops, then you won't get any score alerts until your score climbs back up and hits that target. For best results ALWAYS set your target score to exactly match your latest score.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.