topic Re: How quickly does your FICO react to a change in credit reports in Understanding FICO® Scoring

How quickly does your FICO react to a change in credit reports

Anonymous — Thu, 17 Dec 2015 15:17:57 GMT

For example, 2 year old collection on Experian gets deleted via a PFD with CA. They remove it from your reports and say EX is the first to see it drop off. No other negatives on your report. How long before you should see some movement on your FICO?

Re: How quickly does your FICO react to a change in credit reports

manyquestions — Thu, 17 Dec 2015 18:21:55 GMT

@Anonymous wrote:
For example, 2 year old collection on Experian gets deleted via a PFD with CA. They remove it from your reports and say EX is the first to see it drop off. No other negatives on your report. How long before you should see some movement on your FICO?

Immediately. The score is calculated based on the information on the credit report.

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Thu, 17 Dec 2015 21:11:21 GMT

ManyQuestions is absolutely right.

Just remember that your original question (and his response) is different from asking:

"How long before you should see some movement on your FICO at credit monitoring service X?"

For example, if you were to subscribe to myFICO, which gives "updates" on your scores, you won't necessarily see a new score generated every time something changes on your report. Your score might change a lot and yet that monitoring service might not tell you that for quite a while. Conceivably, you might have to wait for three months when myFICO runs all of your scores again. It just depends on what kind of change occured and which CRA it is.

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Thu, 17 Dec 2015 22:11:44 GMT

My last paid charge off fell off of Equifax in October and my score went from 723 to 840 within 4 weeks. I just had the same one drop off of Transunion last month and last week 3 weeks later my score went from 711 to 824 up 112 points in 1 month.

Re: How quickly does your FICO react to a change in credit reports

IncrsCreditScore1 — Thu, 17 Dec 2015 22:16:11 GMT

@Anonymous wrote:
My last paid charge off fell off of Equifax in October and my score went from 723 to 840 within 4 weeks. I just had the same one drop off of Transunion last month and last week 3 weeks later my score went from 711 to 824 up 112 points in 1 month.

Amazing and congratulations!

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Fri, 18 Dec 2015 02:08:48 GMT

@Anonymous wrote:
ManyQuestions is absolutely right.

Just remember that your original question (and his response) is different from asking:

"How long before you should see some movement on your FICO at credit monitoring service X?"

For example, if you were to subscribe to myFICO, which gives "updates" on your scores, you won't necessarily see a new score generated every time something changes on your report. Your score might change a lot and yet that monitoring service might not tell you that for quite a while. Conceivably, you might have to wait for three months when myFICO runs all of your scores again. It just depends on what kind of change occured and which CRA it is.

I guess I'm a little confused because for example when my credit card statements cut and report to the CRAs, I'll sometimes get alerts from MyFICO that a change has been detected and my score is now xxx etc. I just had a medical collection deleted from EQ and EX, and assume TU will soon as well since the CA instructed each to delete. Granted, this has happened in the past two days. I just wasn't sure if I'll see something immediate or not. I know I've gotten a new card, and within a day or so of applying, I've seen a slight score drop due to the inq. I just wasn't sure if having a collection removed would do the same. I do have to add, I also have CCT. I logged on a bit ago and updated my reports etc and my EQ score is 16 points higher than what MyFICO is showing.

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Fri, 18 Dec 2015 02:13:42 GMT

Ok, I was just searching and found something maybe related that states my FICO doesn't update on a deletion but does on a trigger which I guess would be like a CC reporting a higher or lower balance?

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Fri, 18 Dec 2015 04:28:23 GMT

You got it, AP! MF (and some other credit monitoring services like it) identify certain kinds of changes in your credit report as triggers. But not every single change in your report is a trigger. More than that, I am pretty sure that one CRA (like Equifax) might have more sensitive triggers than another. Thus it is quite possible that your report could change, but the CMS doesn't tell you about it. In fact your report could have had three or four different changes, causing the score to go up, down, or up and down -- without you knowing about it -- and then a trigger occurs and the CMS supplies you with a new score. (And you don't realize that much of the score change is owing to stuff that happened before the trigger.)

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Fri, 18 Dec 2015 10:11:18 GMT

I'm learning, Obi Wan Kenobi! Shame there isn't one sight where you can get updates for all 3 real time.

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Fri, 18 Dec 2015 16:19:47 GMT

Do a search at the myFICO forum for CREDIT CHECK TOTAL. (It may also be one word: CreditCheckTotal) There's a number of threads about this CMS (Credit monitoring service),

I do not use it, but some people here swear by it. I believe it gives you the option of choosing yourself when you wish to get your scores. So, for example, you can wait until you are confident that your various accounts have updated, and then tell CCT "now!" And it will pull all your scores that instant. I think you get one pull a month of your three FICO 8 scores. (But it might be better than that.) I believe it is quite a bit cheaper than MF as well.

But bear in mind that you don't get the dozens of flavors of FICO scores as you do with MF. CCT just gives you the FICO 8 Classic score.

Wise you are becoming, young Skywalker!

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Fri, 18 Dec 2015 16:48:46 GMT

The different things causing or not causing triggers etc makes a lot of sense when I see an alert like, "A change in your score has been detected" and you log in to see a balance increased. Or you have a balance decrease and your score doesnt change or goes down. It was necessarily a strange reaction to a balance change that caused the score change, it was something else. But, you woulde have never seen the "Something else" if the balance change hadnt triggered an update.

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Fri, 18 Dec 2015 17:21:18 GMT

Yus, yus, yus! That's it. You definitely got it.

An update does not in itself mean a score change. It means a triggerable condition was met according the triggers for that particular CRA. The accompanying reason is NOT the reason for the score change (if the score did change) -- it's the reason explaining what triggerable condition was met (often a balance change).

I am a big fan of myFICO -- especially the wealth of scores every three months. But there's no question that the updates are not right for everybody, and that furthermore they are only right for a person if he understands how they work and what they mean. A substantial number of ??? posts here on the forum involve people seeing an MF alert with an accompanying reason and believing that the reason explains why their score changed.

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Fri, 18 Dec 2015 17:38:24 GMT

Once you learn what causes what etc, it makes a lot more sense to you and is definitely more "useable". Just the graet advice you can get here is benefit enough. I've never been a part of an online forum etc where every member is just so friendly and ready to help out with no trolling, no judgemental atittudes towards someone who has maybe made mistakes with judement in regards to their finances and dealing with their credit history.

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Fri, 18 Dec 2015 18:00:59 GMT

Real glad you are here, buddy. Welcome!

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Fri, 18 Dec 2015 18:29:14 GMT

CCT will update EX daily, the other 2 once every 30 days for free. And the EX score will update daily also, but it might not change if nothing happens. My hubby's scores for EX went up 1 point, then another 5, then another 12 all in 1 day. They have a 7 day trial for $1 and if you call the automated system during that time to cancel you usually get offered it for 15 a month for up to 5 years.

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Fri, 18 Dec 2015 19:06:28 GMT

I'm a member on CCT. I saw you can update the reports or scores. Seems like I read here or somewhere you can update those like 3 times a month?

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Fri, 18 Dec 2015 19:12:57 GMT

Not any more. TU and EQ is once every 30 days. It used to be once every 10 days

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Fri, 18 Dec 2015 19:15:14 GMT

@Anonymous wrote:
Not any more. TU and EQ is once every 30 days. It used to be once every 10 days

Ugh.. seems like anymore you have to be a member of each CRA's monitoring service to see everything you want to see.

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Fri, 18 Dec 2015 19:20:28 GMT

True. But the different ones can use different scoring methods. I think EQ monitoring is Fico 4 or something different like that. I know Credit Karma scores are basically worthless but the reports are good and it updates every week

Re: How quickly does your FICO react to a change in credit reports

Anonymous — Fri, 18 Dec 2015 19:28:50 GMT

The most cost effective solution for our OP might be this:

Karma: free

Vantage scores should he be curious and reports up to once a week

CCT: $15 / month

allows him to control the instant he chooses the update (which our OP may like better than alert based)

myFICO:

once per year (just to grab all the three dozen different flavors of the scores)

That would give the OP a lot and still let him save some additional money.