Hey everyone! I got the Barclays rewards MasterCard last month, and curious to know how often the Fico score updates. I looked at it today and it said, " your score was last updated on February 21", I'm assuming the day I opened the account. Will it always be the anniversary date each month of the opening of the card?? Just curious.... Thanks
Signed up and received my intial score on 27 Feb and it updated yesterday. There were some changes to my CR, but not sure if it was that or based upon a schedule?
Full disclosure: I'm a web developer working for Barclaycard US. I work on the customer servicing site (your online banking site). I also have a MC Barclays Reward card.
So FICO score. Your FICO score will update whenever there's a change to it. I've seen mine update twice in a month, sometimes it doesn't even update for that month if there was no change. I THINK it uses your Transunion score, since all the disclosures make reference to your Transunion data and how to contact Transunion.
What I'm curious about though is that my FICO score from Barclays doesn't match ANY of the credit scores from the USAA Credit Check monthly thingy that pulls all three reports and scores on-demand. If they are both official FICO scores and not FAKOs, then why doesn't my Transunion scores match up?
Starting Score: AVG 529 (5/2013)
USAA is a FAKO. Its great to use for the report monitoring, but ignore those scores.
EX:694 TU:744 EQ:777
@blitz wrote:Full disclosure: I'm a web developer working for Barclaycard US. I work on the customer servicing site (your online banking site). I also have a MC Barclays Reward card.
So FICO score. Your FICO score will update whenever there's a change to it. I've seen mine update twice in a month, sometimes it doesn't even update for that month if there was no change. I THINK it uses your Transunion score, since all the disclosures make reference to your Transunion data and how to contact Transunion.
What I'm curious about though is that my FICO score from Barclays doesn't match ANY of the credit scores from the USAA Credit Check monthly thingy that pulls all three reports and scores on-demand. If they are both official FICO scores and not FAKOs, then why doesn't my Transunion scores match up?
Equifax can provide 16 different FICO scores.
Experian can provide 16 different FICO scores.
Transunion can provide 21 different FICO scores.
Naturally, that doesn't include all the FAKO's that other companies provide. Then there is the constant minor variation that occurs when the FICO is calculated on different days, since various things age, such as the age of each credit card, age of inquiries, # of cards that are considered 'recent', etc.
The USAA 'scores' you are paying for are based on the PLUS model (notice it never says FICO). Heres what USAA says about it in the fine print (I added the bold):
Calculated on the PLUS score model, your Experian Credit Score indicates your relative credit risk level for educational purposes and is not the score used by lenders. The PLUS Score, with scores ranging from 330 to 830, is a user friendly credit score developed by Experian to help you see and understand how lenders view your credit worthiness. It is not used by lenders, but is indicative of your overall credit risk. Higher scores represent a greater likelihood that you’ll pay back your debts so you are viewed as being a lower credit risk to lenders. A lower score indicates to lenders that you may be a higher credit risk.
