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Valued Member
Objectivist
Posts: 52
Registered: ‎09-26-2012

Will I get alerted when my scores update?

[ Edited ]

I want to see my new scores, but I don't want to pay if my new credit report wasn't released yet. Is there anyway I can find out through an alert when my credit report updates?...and at that point will all of my score update as opposed to just one at a time?


Starting Score: 657
Current Score: 736
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Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Will I get alerted when my scores update?


Objectivist wrote:

I want to see my new scores, but I don't want to pay if my new credit report wasn't released yet. Is there anyway I can find out through an alert when my credit report updates?...and at that point will all of my score update as opposed to just one at a time?


Do you subscribe to SW right now? If not, I recommend subscribing to a CMS somewhere that allows you to pull all 3 reports on a daily basis. As you see changes to your CR(s), then you can selectively pull one or both CRs to see your score change. IMO, this is the cheapest way to monitor both CRs and FICO scores. I've wasted a lot of report pulls thinking that something updated, only to realize it didn't update yet.

Valued Member
Objectivist
Posts: 52
Registered: ‎09-26-2012

Re: Will I get alerted when my scores update?

CMS? I'm subscribed to Credit Karma if that's what you mean. I'm also subscribed to SW. Will SW email me when I have a new score available?


Starting Score: 657
Current Score: 736
Goal Score: 750


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Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Will I get alerted when my scores update?

CMS = credit monitoring service like SW, TrueCredit, CreditKarma, etc. and so on. I recommend one that pulls all 3 so you can see what's happening on a daily basis if that's something you'd want to know.

 

SW offers two types of alerts for EQ: credit alert and score alert.

 

Credit alerts include alerts like added inquiries, new TLs, changed accounts, increased balances, etc. At the time you get a credit alert, SW will pull your latest EQ FICO and toss it in with the alert if the alert resulted in a score change. IME, I've had alerts come as early as the same day my EQ report changed. IMO, this is why it is beneficial subscribe to a CMS outside SW just to see exactly what day that change occurred on EQ. You will not get credit alerts for items like decreased balances, dropped accounts, and a couple of others.

 

Score alerts result from score changes to your CR. Absent credit alerts, your score could still be changing. To pick up on those changes, SW will monitor your EQ FICO for changes once per week or so. So let's say a baddie dropped. You won't get alerted for that drop but your score could change as a result from it. Within a week you'd get a score alert. Score alerts are based off your target score within the Settings. You will only get a score alert if your current EQ FICO hits or surpasses your target score. If your target score is set below your current score, and your score is increasing, you'll never get a score alert. Conversely if set at 800 and your score is 700, for example, you won't get a score alert until it hits 800. Again, a CMS that monitors EQ outside of SW will come in handy because you know that within a week or so that you'll get alerted from that change. Also don't assume that dropped baddies equals a higher FICO. Not always true. You can lose points by dropping baddies like COs, CAs, and even judgments. To help offset the uncertainty always set your target FICO to exactly match your current score. Most never take this step and miss out on alerts.

Established Contributor
my-own-fico
Posts: 1,032
Registered: ‎01-05-2010

Re: Will I get alerted when my scores update?


llecs wrote:

 

To help offset the uncertainty always set your target FICO to exactly match your current score. Most never take this step and miss out on alerts.


 

But why don't we get a score alert regardless of the target score? Would FICO and/or EQ lose money that way?

 

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Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Will I get alerted when my scores update?

I dunno. If I had a chance to create a SW-like product it would look radically different than the one you see here and would include pricing levels for guaranteed scores based on frequency and added alert types. But what do I know.


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