topic Re: MyFICO score watch is USELESS and score simulator is WRONG in myFICO® Product Feedback

MyFICO score watch is USELESS and score simulator is WRONG

Anonymous — Thu, 11 Jul 2013 14:41:13 GMT

Well I am about to say goodbye to all my myFICO products. I also have equifax credit monitoring which I have had for years but I am more interested in FICO scores so that is why I signed up for SW. My account balances have decreased significantly twice and SW sent no alerts (equifax alerted me every time). The simulator told me that if I paid $200 toward my CCs my score would go up to min. 638, my score only went up to 611 (no other things changed). Plus, I am still having to pay $19.95 for scores. So I am finding both products to be a waste of money so I will continue to use equifax monitoring and just buy FICO scores here when I need them.

Re: MyFICO score watch is USELESS and score simulator is WRONG

rckstrscott — Thu, 11 Jul 2013 14:55:58 GMT

@Anonymous wrote:
Well I am about to say goodbye to all my myFICO products. I also have equifax credit monitoring which I have had for years but I am more interested in FICO scores so that is why I signed up for SW. My account balances have decreased significantly twice and SW sent no alerts (equifax alerted me every time). The simulator told me that if I paid $200 toward my CCs my score would go up to min. 638, my score only went up to 611 (no other things changed). Plus, I am still having to pay $19.95 for scores. So I am finding both products to be a waste of money so I will continue to use equifax monitoring and just buy FICO scores here when I need them.

sorry you don't find value in the product. many of us do.

good luck with your rebuild journey!

-scott

Re: MyFICO score watch is USELESS and score simulator is WRONG

Anonymous — Fri, 12 Jul 2013 15:38:33 GMT

I don't know if the scoring models change over time, but with rates going up and the market the way it is, getting a loan is nearly impossible right now.

I recall in 2009 a co-worker with a score of 804 couldn't qualify for a construction loan.

Besides, your score is merely an indication of how good a peasant you are. Nobody is perfect, and your score is not a bearing on who you are as a person

I agree with you on the lack of utility the tools provide to paid subscribers. I stopped using the service after having the same lackluster results.

Even if you do pay down current debts and stay on the path to goodness, the lender will always look for something to hit you with, even as far back as 6 years and 11 months from now.

When I worked for creditreport.com, the owner told us "Banks are only looking to lend to the lowest risk for the highest return." Keep that in mind. Even if you are gold balls, the bank knows you are lowest risk, but they are still going to charge you the highest insterest rate they can get out of you.

Re: MyFICO score watch is USELESS and score simulator is WRONG

Anonymous — Fri, 12 Jul 2013 16:40:13 GMT

Same here

@Anonymous wrote:
Well I am about to say goodbye to all my myFICO products. I also have equifax credit monitoring which I have had for years but I am more interested in FICO scores so that is why I signed up for SW. My account balances have decreased significantly twice and SW sent no alerts (equifax alerted me every time). The simulator told me that if I paid $200 toward my CCs my score would go up to min. 638, my score only went up to 611 (no other things changed). Plus, I am still having to pay $19.95 for scores. So I am finding both products to be a waste of money so I will continue to use equifax monitoring and just buy FICO scores here when I need them.

Re: MyFICO score watch is USELESS and score simulator is WRONG

RashShakur — Fri, 12 Jul 2013 17:23:36 GMT

I haven't had that experience. Anytime anything changes- whether it's a new account or a fluctuating balance I always get a alert. When it comes to that old good simulator that is another story and I can go on on on about that. The simulator does suck and if it doesn't work they need to get rid of it, ... I do see the value in the score watcher and transunion quarterly report.Just my two cents

Re: MyFICO score watch is USELESS and score simulator is WRONG

WhiskeyR — Fri, 12 Jul 2013 17:45:53 GMT

My alerts are usually within a day or two.

The simulator isn't that great though. I wish it were better. It'd be nice if it had options that helped you simulate things like if a charged off account were deleted, etc.

Re: MyFICO score watch is USELESS and score simulator is WRONG

Anonymous — Sat, 13 Jul 2013 20:12:58 GMT

Totally agree. I cancelled my Score Watch subscription last month, as well.

I do find value in watching my score, but the simulator could use more scenarios. I did get alerts on a regular basis, some I'm not sure if your settings were off. I will subscribe again when I start rate shopping for a home.

Re: MyFICO score watch is USELESS and score simulator is WRONG

pizzadude — Sat, 13 Jul 2013 20:37:22 GMT

Moving to myFICO product feedback.

Re: MyFICO score watch is USELESS and score simulator is WRONG

sghosh5 — Thu, 25 Jul 2013 11:46:00 GMT

My utilization on one card dropped from 50% ro 20%. The scor simulator said it would go upto 650. The util drop happened 5 days ago. Still no alert. I am also thinking of discontinuing this product. How good the score watch product on Equifax website?

Re: MyFICO score watch is USELESS and score simulator is WRONG

Shogun — Thu, 25 Jul 2013 13:26:46 GMT

@sghosh5 wrote:
My utilization on one card dropped from 50% ro 20%. The scor simulator said it would go upto 650. The util drop happened 5 days ago. Still no alert. I am also thinking of discontinuing this product. How good the score watch product on Equifax website?

It's about the same. And give it just a bit for scorewatch, I bet you get a few points. It just takes a bit to update.

Re: MyFICO score watch is USELESS and score simulator is WRONG

DaBears — Fri, 26 Jul 2013 21:30:38 GMT

Score Watch looks for changes every 7-10 days.

Re: MyFICO score watch is USELESS and score simulator is WRONG

HiLine — Sun, 28 Jul 2013 22:42:20 GMT

@DaBears wrote:
Score Watch looks for changes every 7-10 days.

I'm pretty sure with the new alert settings a balance decrease is supposed to generate an alert. Correct me if I'm wrong.

Re: MyFICO score watch is USELESS and score simulator is WRONG

Shogun — Mon, 29 Jul 2013 01:20:52 GMT

I get alerts on decreases in balance.

Re: MyFICO score watch is USELESS and score simulator is WRONG

Anonymous — Wed, 24 Feb 2016 16:34:59 GMT

I wasted my time following the advice of the SCORE SIMULATOR and guess what - my score went down 10 points while I am in the middle of trying to buy a car!

I was advised by that stupid thing that my score would go UP 10 points if I got a new card with a high limit. I spent the time to research cards, apply, get approved, and now I am hosed. And I PAID for all of this! What type of BS is this?

Plus the labelling and layout of this app is total vague garbage. Like when it says your mortgage rate increased? W-T-F! It's mis-leading and lame with stuff like that.

Re: MyFICO score watch is USELESS and score simulator is WRONG

FireMedic1 — Sun, 27 Mar 2016 00:51:25 GMT

Can anyone explain why MyFICO Experian Score 8 is 30+ points lower here than on Experians FICO monitoring service?

Re: MyFICO score watch is USELESS and score simulator is WRONG

Anonymous — Tue, 29 Mar 2016 02:54:23 GMT

@FireMedic1 wrote:
Can anyone explain why MyFICO Experian Score 8 is 30+ points lower here than on Experians FICO monitoring service?

I am experiencing the same issue - it is 16 points for me.

I compared ExperianDirect's Account / Archived Reports screen with MyFICOs Alert screen. It appears that MyFICO still isn't reporting Experian changes from one of my cards - after a payment on that card (and a reduced balance). MyFICO does have this payment for EQ and TU. ExperianDirect does have current info for my EX report (as you would expect).

MyFICO also isn't aware of a recent addition of an very old card to my Experian report yet (result of a dispute process). Maybe this will update in April when I get the next 3B report?

My experience so far with MyFICO Alerts seems hit - or - miss. I found that ExperianDirect is much better with showing Experian data (go figure ! .

Re: MyFICO score watch is USELESS and score simulator is WRONG

Anonymous — Tue, 29 Mar 2016 03:01:20 GMT

I paid the yearly subscription of the 3b. Anychance I can get half my money back? these updates are so slow compared to other sites.