topic Re: How often does the myFiCO score update in Understanding FICO® Scoring

How often does the myFiCO score update

Anonymous — Thu, 31 Mar 2016 02:08:29 GMT

I am thinking about signing up for the myFICO credit monitoring. But I am wondering how often do the scores get updated. Can I pull the score more than once a month?

Re: How often does the myFiCO score update

Appleman — Thu, 31 Mar 2016 03:13:49 GMT

When there is a change you will receive an alert. This will only show the 3 Fico8 models and not all of the scores that you receive when you get the initial report.. You have to buy another 3B report to get all of the Fico flavors updated. You can pay $29.95 and get a new 3B pull every 3 months.

Hopefully that helps.

Re: How often does the myFiCO score update

NRB525 — Thu, 31 Mar 2016 03:15:53 GMT

The Monitoring provides notices when balances report on cards, new INQ are reported, new accounts are reported, derogatories are reported (I am told), and other less frequent items.

Each of these notifications may or may not lead to a score change, but if they do, then along with the notification trigger, a score change is noted then.

So one does not pull the reports frequently, the reports are available once every three months (in the most inclusive package), the scores are updated as notifications come in, and so you track where your score is from the notifications.

The number of accounts has an influence on how many "updates" you can expect to see. I have 25 CC accounts, with 22 showing balances, the other cards going in and out of zero, so I get a lot of notifications. Others who don't have as many accounts, or have cards that report zero for some number of statements, would not expect to see as many notifications. My actual score changes in any one month, per bureau, are not that many, even with all the notifications.

Score change counts in the last 12 months, which includes a number of new apps:

EX 33, TU 46, EQ 39, so 3 to 4 actual score changes each month.

Re: How often does the myFiCO score update

Anonymous — Thu, 31 Mar 2016 18:26:43 GMT

One great explaination...

Thanks, NRB525

I hope the op agrees!

Re: How often does the myFiCO score update

KatT1 — Wed, 09 Nov 2016 17:21:48 GMT

Thank you, I was wondering the same thing. I was using Equifax but getting ready to have to refi my mortgage after my divorce and trying to make sure all my ducks are in a row before I pull that trigger. This is a much more comprehensive site with the scores the mortgage lender is actually using.

Re: How often does the myFiCO score update

iv — Thu, 10 Nov 2016 02:01:53 GMT

@KatT1 wrote:
Thank you, I was wondering the same thing. I was using Equifax but getting ready to have to refi my mortgage after my divorce and trying to make sure all my ducks are in a row before I pull that trigger. This is a much more comprehensive site with the scores the mortgage lender is actually using.

Just be aware that the mortgage scores, while they are included in the "additional score" report, do NOT update on the triggers (it's only the FICO 8 scores that update on triggers). The only way to get updated mortgage scores here is to do another full 3B pull (either paid or bundled with one of the subscription options).

Re: How often does the myFiCO score update

Anonymous — Thu, 10 Nov 2016 19:28:58 GMT

BTW, myFICO started offering a subscription option that gives you all the scores monthly, rather than quarterly. It's hard to find on their website, but it is available. Maybe they are quietly test driving it?

MF contributor SouthJamaica knows all about it. He has it. I believe it costs $50/month.

A note to our OP:

Let us know if you want some advice about how to best prepare for pulling your mortgage scores.

Because it does cost money, my view is that it makes the most sense first to get your credit reports as good as you possibly can, and THEN pay for the mortgage scores. There are lots of free tools out there that will let you pull your reports very often. In the case of EQ and TU you can get them as often as once a week, a nice feature as you work on getting your credit card balances in ideal shape, etc. EX is also available for free at least monthly.

Re: How often does the myFiCO score update

iv — Thu, 10 Nov 2016 19:47:17 GMT

@Anonymous wrote:
BTW, myFICO started offering a subscription option that gives you all the scores monthly, rather than quarterly. It's hard to find on their website, but it is available. Maybe they are quietly test driving it?

MF contributor SouthJamaica knows all about it. He has it. I believe it costs $50/month.

$39.95/month, or $439/yearly if you pay up-front. (About $36.60/month then, and reasonably worth it.)

http://www.myfico.com/Products/FICO-Premier-3B/

I don't know why it's not being featured more prominently - it appears to show up randomly for people at different times, but if it's a quiet A/B test, it's been going on for quite a few months... and anyone appears to be able to signup for it with the direct link above.

It's basically the same as the quarterly "Ultimate" subscription, but with monthly 3B pulls, a "Dedicated Customer Care line" (that I haven't tried calling), and additional bank-account monitoring options (that I haven't used - but I assume it's Chex and/or EWS monitoring for new accounts/changes). Comparison chart is at the bottom of the page here: http://www.myfico.com/Products/Productsa.aspx

It's not bad for the price (monthly pulls for "all" FICO scores)- but I wish it also offered realtime monitoring on the mortgage scores...

Re: How often does the myFiCO score update

Anonymous — Thu, 10 Nov 2016 20:15:51 GMT

Thanks iv. It's a good choice by myFICO to offer something like this. A few years ago there was no cost free way to get quarterly reports from Experian and very few ways to get free FICO 8 scores. Now anybody can get free reports from all three bureaus almost any time he wants and there are free FICO 8 scores available all over the place.

The choice to offer FICO 9 as part of their package and to make it monthly is smart. They need to find ways to convince people that what they are offering has value, compared to the free alternatives.

Re: How often does the myFiCO score update

Anonymous — Sat, 12 Nov 2016 20:35:42 GMT

@iv wrote:
@Anonymous wrote:
BTW, myFICO started offering a subscription option that gives you all the scores monthly, rather than quarterly. It's hard to find on their website, but it is available. Maybe they are quietly test driving it?

MF contributor SouthJamaica knows all about it. He has it. I believe it costs $50/month.

$39.95/month, or $439/yearly if you pay up-front. (About $36.60/month then, and reasonably worth it.)

http://www.myfico.com/Products/FICO-Premier-3B/

I don't know why it's not being featured more prominently - it appears to show up randomly for people at different times, but if it's a quiet A/B test, it's been going on for quite a few months... and anyone appears to be able to signup for it with the direct link above.

It's basically the same as the quarterly "Ultimate" subscription, but with monthly 3B pulls, a "Dedicated Customer Care line" (that I haven't tried calling), and additional bank-account monitoring options (that I haven't used - but I assume it's Chex and/or EWS monitoring for new accounts/changes). Comparison chart is at the bottom of the page here: http://www.myfico.com/Products/Productsa.aspx

It's not bad for the price (monthly pulls for "all" FICO scores)- but I wish it also offered realtime monitoring on the mortgage scores...

Hi CreditGuyInDixie,

Thanks for that link. It is interesting that I could click on the link and it pulls up, but when I try to add it to my cart, it tells me that I already have 3B Ultimate. So maybe if you already have a current plan, you can switch over to this one- unless you were invited.... hmmm... very interesting indeed. Me, I would very much like this plan for sure ;-) Give it to me... lol....

Re: How often does the myFiCO score update

Revelate — Sat, 12 Nov 2016 20:39:06 GMT

Historically FICO consumer doesn't upgrade plans unless you drop out and resubscribe.

Re: How often does the myFiCO score update

Anonymous — Sat, 12 Nov 2016 20:45:14 GMT

@Revelate wrote:
Historically FICO consumer doesn't upgrade plans unless you drop out and resubscribe.

Ohhhhh... That makes sense then.... I do not think my account renews unti the Nov 17th. If I were to unsubscribe, would I lose access to the reports that are already in my list, as well as my fico score history that is here? If this should be taken to PM, I can do that as well. Thanks in advance.

Re: How often does the myFiCO score update

Revelate — Sun, 13 Nov 2016 01:47:09 GMT

@Anonymous wrote:
@Revelate wrote:
Historically FICO consumer doesn't upgrade plans unless you drop out and resubscribe.
Ohhhhh... That makes sense then.... I do not think my account renews unti the Nov 17th. If I were to unsubscribe, would I lose access to the reports that are already in my list, as well as my fico score history that is here? If this should be taken to PM, I can do that as well. Thanks in advance.

I'd ask a CSR on that; I *think* you keep it as that's tied to your account rather than the service, but don't quote me on it . I did switch from one service to another when they upgraded a couple of iterations ago and I do think I kept all my reports but that might've changed.

Re: How often does the myFiCO score update

Anonymous — Sun, 13 Nov 2016 02:08:08 GMT

@Revelate wrote:
@Anonymous wrote:
@Revelate wrote:
Historically FICO consumer doesn't upgrade plans unless you drop out and resubscribe.
Ohhhhh... That makes sense then.... I do not think my account renews unti the Nov 17th. If I were to unsubscribe, would I lose access to the reports that are already in my list, as well as my fico score history that is here? If this should be taken to PM, I can do that as well. Thanks in advance.
I'd ask a CSR on that; I *think* you keep it as that's tied to your account rather than the service, but don't quote me on it . I did switch from one service to another when they upgraded a couple of iterations ago and I do think I kept all my reports but that might've changed.

Hi Revelate,

Thanks for the info. I did send an email to support using the support link here on the site.

Strange thing did happen though. Would you believe that the email bounced to support as it said:

The recipient's mailbox is full and can't accept messages now. Please try resending your message later, or contact the recipient directly.

I used the "Contact Us" link found--> Click here.

Re: How often does the myFiCO score update

SouthJamaica — Sun, 13 Nov 2016 02:09:16 GMT

@Anonymous wrote:
@Revelate wrote:
Historically FICO consumer doesn't upgrade plans unless you drop out and resubscribe.
Ohhhhh... That makes sense then.... I do not think my account renews unti the Nov 17th. If I were to unsubscribe, would I lose access to the reports that are already in my list, as well as my fico score history that is here? If this should be taken to PM, I can do that as well. Thanks in advance.

Yes you would lose access to them so you should download those to which you will want to refer later.

Re: How often does the myFiCO score update

Anonymous — Mon, 14 Nov 2016 19:04:07 GMT

Thanks ya'll. I made the switch today.