topic Re: ScoreWatch Question in myFICO® Product Feedback

ScoreWatch Question

Anonymous — Fri, 17 Oct 2008 18:48:16 GMT

Hello all,

Okay, have been waiting patiently for a scorewatch update because my other scores have gone up and I get the email saying my scorewatch went up 40 points! Wow...then I looked and the only thing that was updated per the scorewatch was my name. Now first off, I never disputed or put a name change in and second why would this cause an increase? Lost...help.

Edit: The reason I ask about this is on the myFico page it says.....

Name changes – How these affect your FICO® score

The names listed on your credit report have no effect on your FICO® score. If your FICO® score changed at the same time as a change to your name on your credit report, the change in your score was not caused by the name change

Message Edited by Lefty0118 on 10-17-2008 02:47 PM

Message Edited by Lefty0118 on 10-17-2008 02:48 PM

Re: ScoreWatch Question

Anonymous — Sat, 18 Oct 2008 19:07:52 GMT

Well ScoreWatch reasons aren't always 100% accurate. Perhaps something else happened to cause the increase (an old baddie fell off, an account anniversairy, an old inquiry expired) but the only profound change that Equifax saw was the name change.

BUT! I would look into why there was a name change on your credit report if you didn't request the change as this is a potential sign of Identity Theft. But don't jump right into disputting it..... On one of my credit reports it lists my previous name as my military rank with my last name (Imagine Col Boo.) Since it is technically a version of my name I let it slide...... another guy on here disputed a difference in his name because the Jr or Sr was missing and he ended up with two seperate CR.... OUCH!

Re: ScoreWatch Question

Barry — Sat, 18 Oct 2008 21:25:55 GMT

Lefty0118 wrote:

Hello all,

Okay, have been waiting patiently for a scorewatch update because my other scores have gone up and I get the email saying my scorewatch went up 40 points! Wow...then I looked and the only thing that was updated per the scorewatch was my name. Now first off, I never disputed or put a name change in and second why would this cause an increase? Lost...help.

Edit: The reason I ask about this is on the myFico page it says.....

Name changes – How these affect your FICO® score

The names listed on your credit report have no effect on your FICO® score. If your FICO® score changed at the same time as a change to your name on your credit report, the change in your score was not caused by the name change
Message Edited by Lefty0118 on 10-17-2008 02:47 PM
Message Edited by Lefty0118 on 10-17-2008 02:48 PM

Hi Lefty0118....As AmyBoo said, a non-SW-alert-triggering change probably occurred on your credit report, i.e. balance decrease, negative item falling off, etc. A 40 point score is pretty substantial! You can check to (hopefully) see what's changed by pulling the free report that's been added to your Score Watch. Congrats on the score increase!

Re: ScoreWatch Question

Anonymous — Sun, 19 Oct 2008 04:17:03 GMT

Hi Lefty0118....As AmyBoo said, a non-SW-alert-triggering change probably occurred on your credit report, i.e. balance decrease, negative item falling off, etc. A 40 point score is pretty substantial! You can check to (hopefully) see what's changed by pulling the free report that's been added to your Score Watch. Congrats on the score increase!

Barry, First of all thanks for the scorewatch update, thought I would be going broke as often as I have been checking, where is that 3 in 1 Fico anytime check? Just kidding. I can wish still.

Okay, so explain this, I did check my report again and it seems that I had the most recent, lowest collection fall off of my Equifax report. This was for a $20 collection from ATT that I never had, never received collect calls from, wrote numerous letters to, and I guess they took it off of my reports. My last letter was not very nice and spoke poorly of their customer (or non-customer service in this case) service dealing with this matter. I still have to question a 40 point increase for a 20 dollar collection?? As for the name change it was there in previous reports so I still question the triggers for SW.

Thanks again Barry.

Message Edited by Lefty0118 on 10-19-2008 12:17 AM

Re: ScoreWatch Question

Anonymous — Sun, 19 Oct 2008 04:23:07 GMT

I don't think the amount of the collection or whether or not it was paid factors in to how many points its worth when it drops off.

I think the fact that it was a recent collection and it dropped off was why it was worth 40 pts.

If your next oldest collection were to drop off it might only be worth 20 pts and maybe 10 for the next two and so on, assuming you have other collections on your CR. Those numbers aren't exact though just a guesstimation bassed on the 40 pt value of your most recent collection.

Re: ScoreWatch Question

Anonymous — Fri, 24 Oct 2008 13:48:54 GMT

myFico Barry,

How can a CU do this? http://www.psecu.com/iTools/Credit_Report/index.html and at no cost? True Fico score? Any input would be greatly appreciated.

Lefty

Re: ScoreWatch Question

Barry — Sun, 26 Oct 2008 03:46:15 GMT

Lefty0118 wrote:

myFico Barry,

How can a CU do this? http://www.psecu.com/iTools/Credit_Report/index.html and at no cost? True Fico score? Any input would be greatly appreciated.

Lefty

This is for real, Lefty0118! It is a true FICO score from Experian -- the same Experian FICO score you get here. It's similar to the program WaMu has with us where they provide the TU and Experian scores to their customers at no cost. IMO it's a great deal!

Re: ScoreWatch Question

Anonymous — Thu, 30 Oct 2008 12:41:16 GMT

So Barry,

I am being ignorant here, but seriously.....if a CU can do this why can't myFico? Is it an agreement between all three CRA to agree to allowing a three in one? Who do I have to write a letter to!!!

Lefty

Re: ScoreWatch Question

Barry — Fri, 31 Oct 2008 22:30:46 GMT

Lefty0118 wrote:

So Barry,

I am being ignorant here, but seriously.....if a CU can do this why can't myFico? Is it an agreement between all three CRA to agree to allowing a three in one? Who do I have to write a letter to!!!

Lefty

Hi Lefty0118!

Not sure if I understand your questions correctly, but I'll give it a shot and let me know how I do, OK?

The credit union is purchasing Experian scores and offering them for free as a benefit to its customers. They aren't providing scores from all three bureaus, however. Also, to clarify my previous reply about WaMu, you get either the TU or Experian FICO score, depending on which part of the country you're in. That is, you get one but not both.

When you say "three in one," are you referring to credit reports or FICO scores or both? As for why myFICO doesn't provide a three bureau/three score product, this is something that myFICO and the bureaus have so far not been able to work out for various business reasons. And lastly, you can write to Fair Isaac and the bureaus.

Re: ScoreWatch Question

Karatz — Tue, 04 Nov 2008 00:24:50 GMT

@Anonymous wrote:
myFico Barry,

How can a CU do this? http://www.psecu.com/iTools/Credit_Report/index.html and at no cost? True Fico score? Any input would be greatly appreciated.

Lefty

From the link, look at...

The score we will show you is not real-time, credit scores can change at any time. We receive updated scores monthly. Enroll today.

Sounds similiar to WaMu's service...