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04-11-2011 01:48 PM
I have made many payments to my CC and nothing has changed on my account from when I first started it. How often does this website update? Also, I only see my equifax score, what about my 2 others? And what is the main difference between the $19.95 and $14.95 package? I thought I purchased the $19.95 package, but it charges me $14.95, so that must be the one that I got.
04-11-2011 04:03 PM
Youre dealing with multiple unrelated issues here. First off, Your CC should be updating to the credit bureaus once a month. This usually happens within a week of your statement date, and the balance on your statement is usually what the credit bureaus receive and show on your report. When you say nothing has changed on your account, I dont know if that means nothing has changed on your account that's listed on your credit report, or on your acount with the CC company itself. You'd have to be a little more specific. If you make multiple payments within the same month, your credit report isnt going to see all of those. It only will see whatever balance was on your statement when it was cut.
As far as MyFico updating. MyFico doesn't update. When you order a report or score from here, MyFico has to request that info from the credit bureau itself. MyFico doesn't store info or compile scores. The bureaus themselves do not update in the sense you're probably thinking. Creditors or lenders update, the bureaus merely gather that update and report it. Bureaus are just reporting agencies, have to keep that in mind. They report what they are told.
$19.95 on here gets you 1 report from EITHER Equifax or TransUnion, plus your accompanied FICO score to that particular agency. That report is a snapshot in time from whenever it was pulled. In other words, the info on it will never change. Its like a photograph, what's there is there. If you were to, say, order 1 report for $19.95 today, you would get whatever your accounts showed at that particular moment in time, and whatever the score was. Now lets say your accounts changed tomorrow, and so did your score. you would then have to order another report for $19.95 to see the new changes and score. You can only order reports on MyFico from Equifax or Transunion. Experian no longer sells consumers their FICO score directly. So you get 2 choices here, EQ, or TU.
The $14.95 I believe is for a monthly subscription to Scorewatch, which is a monitoring service for your Equifax FICO score only. You'll have to read up more about Scorewatch if thats what you signed up for. Basically youre going to get periodic alerts when your EQ score changes. In addition to score monitoring, you get 1 EQ report to look at when you sign up and another one to be used at a future date of your choosing. Its a better way to go in my opinion than just paying $19.95 every time you want to check your report/score. Cheers =o)
04-03-2013 08:08 AM
04-03-2013 08:39 AM
So in other words I will not see score updates unless I pay 19.00. I am locked to pay for this service for 3 months and still have to pay for updates. I just went on Equifax and my score is higher and it shows the accounts I have paid down.
The responding poster was saying that if you lacked ScoreWatch, you would have to pay $19 and some change for a new report.
If you are locked into a 3-month cycle then likely you purchased ScoreWatch. You don't need to purchase a new score in order to get an update. Check out the SW Guide found stickied here somewhere. SW will monitor your EQ FICO score and will monitor your EQ report for changes. For any credit changes, it'll provide a credit alert and with that alert it'll provide for a new EQ FICO if it changed. Credit alerts would include added accts, increased balances, stati changes, etc. SW will not alert for dropped accounts, dropped lates (provided the status remains the same) or dropped balances. So, if you paid down your CCs and your report shows that you will not get a credit alert because of those changes.
However, absent credit alerts, your EQ FICO is monitored for changes every 7 to 10 days. If your new EQ FICO hits or exceeds your target score found within your settings then you'll get a score alert. If the target score is set below your current score, then you won't get any score alerts until your score drops below that target. If you set your target score too high above the current score, then you won't get any alerts until that target is hit or exceeded. For best results always set your target score to exactly match your current EQ FICO. That way if the FICO increases or decreases, then you'll get alerted. As your score changes, then immediately reset that target.