topic Re: Thinking about leaving MYFICO and others in Rebuilding Your Credit

Thinking about leaving MYFICO and others

Anonymous — Fri, 15 May 2015 15:22:03 GMT

MYFICO, Eqifax, quizzle, creditkarma and all these sights are all over the place with scores, they all have different DOFD and Balances,they all report inquieries quickly but update accounts slllllooowwwllllly. What to do what to do.

Re: Thinking about leaving MYFICO and others

Anonymous — Fri, 15 May 2015 15:26:50 GMT

myfico is the only one of those that gives you your true fico scores. The other scores have little to do with what creditors actually use.

Re: Thinking about leaving MYFICO and others

Anonymous — Fri, 15 May 2015 15:31:53 GMT

Really? Can you prove that? These sites are geared for you to spend money on the product.

Re: Thinking about leaving MYFICO and others

Anonymous — Fri, 15 May 2015 15:52:27 GMT

Prove what?? That creditors use FICO scores more than any other score?? There is nothing for me to prove, do your own research about it if you don't want to take my word for it. I'm not advocating for you to continue spending your money on myfico. I just cancelled the service myself. I was just simply advising you that nearly all creditors use FICO scores in credit decisions in order to help you make an informed decision. Do as you will.

Re: Thinking about leaving MYFICO and others

ojefferyo — Fri, 15 May 2015 15:56:53 GMT

If you really feel that places like this serves no purpose to you then you are free to leave at your own will.

Re: Thinking about leaving MYFICO and others

Anonymous — Fri, 15 May 2015 15:59:35 GMT

For most accurate and detailed reporting information, check the bureaus via AnnualCreditReport.com or directly via a dispute (ie. denied for credit in past 60 days).

None of the services you mentioned display DOFD. Dates accounts were opened, lates appeared, balance changes, etc are not DOFDs. The credit bureaus don't want consumers to see too much.

For example, I'm a paid subscriber to Experian Credit Tracker, which allows a full report daily and updated EX FICO 8 score (it's the real deal; same as here), and yet it does not show soft-pulls, dofds, nor even something as basic as payment history, which is limited to 24 months on that paid product...

And yet an Experian report viewed via AnnualCreditReport.com or via dispute access, displays payment information extended much further out. Bizarre, how bureaus don't even want consumers to see complete payment history, though I suspect that's to make it more difficult for one to manually determine the DOFD and SOL.

No one service provides it all. In theory, MyFICO could, but sadly, even their 3 bureau monitoring service comes up short providing only one full report view per year instead of daily - if it was every day, that would rock! Experian Credit Tracker does allow daily report pulls and daily EX FICO 8 score updates ... combine that with Credit Karma (TU & EQ limited reports) and CreditSesame (monitoring of TU & EQ for HP and some other events with fast alerts) and one has most of it covered.

Re: Thinking about leaving MYFICO and others

Pway — Fri, 15 May 2015 16:48:35 GMT

This is a personal decision and you have to do what is best for you. We can offer all the adivce we want but at the end of the day the final decision comes from within thy self. Good luck on what ever you decide to do.

Re: Thinking about leaving MYFICO and others

gdale6 — Fri, 15 May 2015 20:24:07 GMT

If you want all the info on your CRs you will have to request them from the CRAs and receive them thru the mail, you are not going to be shown the whole picture by anyone online. I dont pay for any Fico monitoring I have cards that give them to me every month.

Re: Thinking about leaving MYFICO and others

Anonymous — Fri, 15 May 2015 20:52:26 GMT

I'm planning on getting cards that will put me in that position.

@gdale6 wrote:
If you want all the info on your CRs you will have to request them from the CRAs and receive them thru the mail, you are not going to be shown the whole picture by anyone online. I dont pay for any Fico monitoring I have cards that give them to me every month.

Re: Thinking about leaving MYFICO and others

Anonymous — Fri, 15 May 2015 21:22:39 GMT

@gdale6 wrote:
If you want all the info on your CRs you will have to request them from the CRAs and receive them thru the mail, you are not going to be shown the whole picture by anyone online. I dont pay for any Fico monitoring I have cards that give them to me every month.

What additional details do mailed versions of free annual credit reports show?

Re: Thinking about leaving MYFICO and others

gdale6 — Fri, 15 May 2015 22:12:42 GMT

@Anonymous wrote:
@gdale6 wrote:
If you want all the info on your CRs you will have to request them from the CRAs and receive them thru the mail, you are not going to be shown the whole picture by anyone online. I dont pay for any Fico monitoring I have cards that give them to me every month.
What additional details do mailed versions of free annual credit reports show?

All softs, DoFD or scheduled removal date, any additional personal info, full payment history if one is present.

Re: Thinking about leaving MYFICO and others

Anonymous — Fri, 15 May 2015 22:22:38 GMT

The on-line versions show all that too under "Print" view (EX - print to pdf to save) or, alternatively, click "Save as PDF" (TU & EQ).

Re: Thinking about leaving MYFICO and others

Anonymous — Fri, 15 May 2015 22:43:42 GMT

I cancelled myfico too. It doesn't alert me when things are removed and thats what I really wanted.

Re: Thinking about leaving MYFICO and others

gdale6 — Fri, 15 May 2015 23:16:02 GMT

@Anonymous wrote:
The on-line versions show all that too under "Print" view (EX - print to pdf to save) or, alternatively, click "Save as PDF" (TU & EQ).

i have never seen one that does in its entirety.

Re: Thinking about leaving MYFICO and others

2b2rich — Sat, 16 May 2015 01:30:37 GMT

@Anonymous wrote:
Really? Can you prove that? These sites are geared for you to spend money on the product.

You were refering to the comment by Spoiledgyrl100 that credit grantors use FICO credit scores and you wanted to know if that could be proved.

I can only tell you that anytime I've applied for credit in person, I've asked what the score was and even though some of them didn't know which kind of score, I knew my scores and they were all FICO (a few were FICO auto, etc) so I think it's safe to say most of them do.

Re: Thinking about leaving MYFICO and others

Anonymous — Sat, 16 May 2015 03:15:38 GMT

I would like to apologize to all you faitful followers of myfico. Sometimes people become very comfortable on vertain sites, Yes, I did get some helpful information from this site, I pulled my mortgage scorws yesterday and I was qualified, however myfico and other sites were telling me still low and that I should do this or that.

Re: Thinking about leaving MYFICO and others

tufa4311 — Sat, 16 May 2015 03:28:03 GMT

I have to admit that I love FICO, but I think I do, not becuase of the "accuracy" of the score, but becuase of what I got and learned from myFICO. I honestly don't know how "good" the FICO scores we get are when put up against what the lenders use - but this is a great forum to debate that. Let's start with a report I found from Consumer Reports:

http://www.consumerreports.org/cro/magazine/2013/07/don-t-buy-useless-credit-scores/index.htm

Comments?

Here's and example of how close myFICO score was to my lender pull within about a 20 day window:

Lender Pull (06/10/2014): EXP: 674/EQ: 658/TU: 652
myFICO Score 08 (05/21/2014): EXP: 680/EQ: 684/TU: 665

Re: Thinking about leaving MYFICO and others

securingourfuture — Sat, 16 May 2015 03:27:36 GMT

@Anonymous wrote:
MYFICO, Eqifax, quizzle, creditkarma and all these sights are all over the place with scores, they all have different DOFD and Balances,they all report inquieries quickly but update accounts slllllooowwwllllly. What to do what to do.

It's all good. I have been a member on this site for over 5 years, but I paid for services for a few months back when I started, and again just recently. I kept the monitoring back in 2010 because I was paying off a lot of old debts, and I am monitoring it now because I have loads of baddies that are falling off. After I figure out the best way to handle my better credit, I will probably rely on free scores from my credit card websites.

Best of luck to you with whatever you decide.

Re: Thinking about leaving MYFICO and others

Kirmie2010 — Sat, 16 May 2015 03:50:35 GMT

Lifes a game and credit is just another game to play. Learning the rules makes it more fun, not knowing them makes this a hellish experience. If its not for you, its not for you

Good luck!

*edit*
Yeah if you sign up for the Experian online service you get the full report. I havent bought into TUs or EQ so not sure about them but the EX on their site that you purchase for me was the entire report. (over 60 pages)

Re: Thinking about leaving MYFICO and others

Anonymous — Sat, 16 May 2015 12:25:57 GMT

You know, I think there's too much emphasis on scores to begin with. It's nice to see them go up and it's also hard to see so many types of scores (Vantage, Plus, Fico, etc). I do utilize the free sites for scores, knowing these are all FAKO scores, because I feel like it gives me an approximation of where and how I'm doing.

That being said, I think the monitoring of reports is better. Knowing what's on my report, I know what to tackle. Using the forums of myFico lets me understand how each entry on my report impacts me.

I think it all depends on what you're using it for. I guess if a lender said they needed your score to be at 650, then there would be benefit to knowing your exact Fico score, all the time. However, I would think looking at the credit report itself would still allow you to figure out what you need to take care of to see improvement.