topic Re: credit monitoring/scores in Understanding FICO® Scoring

credit monitoring/scores

Anonymous — Sun, 12 Aug 2007 03:52:16 GMT

We are thinking about buying a house and want to make sure our FICO's are OK. I have pulled all score and have disputed a couple items. What is the best company for credit monitoring that would allow me to check my score anytime. I also would like to know after disputes have be settled, how long till my score goes up?

Re: credit monitoring/scores

CreditBob — Sun, 12 Aug 2007 04:48:10 GMT

The only credit bureau is Equifax but the scores are only for Equifax. Here is the best thing that I do. For $ 14.95 a month you can use www.truecredit.com The report is right on but the scores are way off. When you see that the disputed items have all been removed from all three credit bureaus, then use www.myfico.com I knmow that it costs $ 47.85 but it's accurate. making soem sacrifices, such as spending a little on your score, will be very rewarding. Now if you just want to use Equifax, there monthly fee is $ 9.95 www.equifax.com

Re: credit monitoring/scores

CreditBob — Sun, 12 Aug 2007 04:50:37 GMT

The scores will go up when the credit bureaus show their updates. So when you see the changes online you can be sure that the score will be different. One other thing, keep a few dollar balance on all your credit cards ($ 10.00 balance on each), thta will help you achieve a higher fico score

Re: credit monitoring/scores

Anonymous — Sun, 12 Aug 2007 05:31:00 GMT

Also google "Myfico discount code" for the 20% off coupon.

You can search "walmart link" in the forums to get a discounted Truecredit monitoring.

Amex also has one that I am trying out.

Re: credit monitoring/scores

Tuscani — Sun, 12 Aug 2007 15:00:28 GMT

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&message.id=5457

Re: credit monitoring/scores

smallfry — Sun, 12 Aug 2007 15:13:56 GMT

@Anonymous wrote:
Also google "Myfico discount code" for the 20% off coupon.

You can search "walmart link" in the forums to get a discounted Truecredit monitoring.

Amex also has one that I am trying out.

CreditSecure is the Cadillac if you want daily monitoring. No 24+1 nonsense. Must have an AMEX account to use it.

Re: credit monitoring/scores

Anonymous — Sun, 12 Aug 2007 17:28:12 GMT

@smallfry wrote:

@Anonymous wrote:
Also google "Myfico discount code" for the 20% off coupon.

You can search "walmart link" in the forums to get a discounted Truecredit monitoring.

Amex also has one that I am trying out.

CreditSecure is the Cadillac if you want daily monitoring. No 24+1 nonsense. Must have an AMEX account to use it.

the one thing I don't like about is that it does not do a very good job of matching up accounts from each CRA. Something i don't have an issue with TC.

Re: credit monitoring/scores

smallfry — Sun, 12 Aug 2007 19:42:03 GMT

Yep. I've heard that complaint.

Re: credit monitoring/scores

Anonymous — Sun, 12 Aug 2007 20:41:17 GMT

@smallfry wrote:

@Anonymous wrote:
Also google "Myfico discount code" for the 20% off coupon.

You can search "walmart link" in the forums to get a discounted Truecredit monitoring.

Amex also has one that I am trying out.

CreditSecure is the Cadillac if you want daily monitoring. No 24+1 nonsense. Must have an AMEX account to use it.

What is the link for credit secure? Thanks.

Re: credit monitoring/scores

fused — Sun, 12 Aug 2007 21:07:35 GMT

@Anonymous wrote:

@smallfry wrote:

@Anonymous wrote:
Also google "Myfico discount code" for the 20% off coupon.

You can search "walmart link" in the forums to get a discounted Truecredit monitoring.

Amex also has one that I am trying out.

CreditSecure is the Cadillac if you want daily monitoring. No 24+1 nonsense. Must have an AMEX account to use it.

What is the link for credit secure? Thanks.

https://www124.americanexpress.com/cards/loyalty.do?page=creditsecure

Re: credit monitoring/scores

Anonymous — Sun, 12 Aug 2007 21:29:33 GMT

This is new to me... a $10 balance on a credit card is better than zero balance? Is that right?

Re: credit monitoring/scores

Tuscani — Sun, 12 Aug 2007 22:00:42 GMT

streamline wrote:

This is new to me... a $10 balance on a credit card is better than zero balance? Is that right?

Yep

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=3857

Message Edited by Tuscani on 08-12-2007 05:00 PM

Re: credit monitoring/scores

smallfry — Mon, 13 Aug 2007 01:16:44 GMT

@Tuscani wrote:

@Anonymous wrote:
This is new to me... a $10 balance on a credit card is better than zero balance? Is that right?

Yep
http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654
http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=3857

Message Edited by Tuscani on 08-12-2007 05:00 PM

You realize there is no proof to that and should really quantify the comment. Are you saying that if you have 15 credit cards that you should let ALL of them report $10 every month for maximum points? I don't think so.

Re: credit monitoring/scores

fused — Mon, 13 Aug 2007 01:44:08 GMT

@smallfry wrote:

@Tuscani wrote:

@Anonymous wrote:

This is new to me... a $10 balance on a credit card is better than zero balance? Is that right?

Yep

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=3857

Message Edited by Tuscani on 08-12-2007 05:00 PM

You realize there is no proof to that and should really quantify the comment. Are you saying that if you have 15 credit cards that you should let ALL of them report $10 every month for maximum points? I don't think so.

I agree with Tusc! Several months back I was reluctant to try and see for myself but I went ahead and left very small balances on all of my CCs and my scores did go up some.

Re: credit monitoring/scores

Anonymous — Mon, 13 Aug 2007 02:54:19 GMT

Did score go up from carrying balances or because balances forced activity on all cards?

Re: credit monitoring/scores

fused — Mon, 13 Aug 2007 03:08:00 GMT

ilovepizza wrote:
Did score go up from carrying balances or because balances forced activity on all cards?

I believe it's the former. FICO likes low util.

Re: credit monitoring/scores

smallfry — Mon, 13 Aug 2007 09:55:47 GMT

@fused111 wrote:

@Anonymous wrote:
Did score go up from carrying balances or because balances forced activity on all cards?

I believe it's the former. FICO likes low util.

I can buy that FICO likes low utilization but the question is still unanswered. I have 8 revolving accounts and a car loan currently open. Surely you aren't advising that I let all 8 revolving accounts report small balances are you?

Re: credit monitoring/scores

smallfry — Mon, 13 Aug 2007 10:02:14 GMT

From my last Transunion FICO Report: you've been responsibly limiting the number of accounts with balances. This was listed as a positive in the understanding your score page. I don't advocate showing 0 balances on all accounts every month but I don't believe anyone should let all their accounts report. Remember that the creditors and FICO get info they don't share with us concerning our reports. If you have used the card a particular month and show a 0 balance they know you have used it. If you print a higher usage number than any previous month even you will see that in your Experian report. Lack of reportable balance is not the same as inactivity.

Re: credit monitoring/scores

Tuscani — Mon, 13 Aug 2007 17:37:57 GMT

@smallfry wrote:

@Tuscani wrote:

@Anonymous wrote:

This is new to me... a $10 balance on a credit card is better than zero balance? Is that right?

Yep

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=3857

Message Edited by Tuscani on 08-12-2007 05:00 PM

You realize there is no proof to that and should really quantify the comment. Are you saying that if you have 15 credit cards that you should let ALL of them report $10 every month for maximum points? I don't think so.

YES, if the util puts you at 1-9%!

Re: credit monitoring/scores

MidnightVoice — Mon, 13 Aug 2007 17:41:54 GMT

smallfry wrote:
Remember that the creditors and FICO get info they don't share with us concerning our reports. If you have used the card a particular month and show a 0 balance they know you have used it.

How?