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Credit Monitoring Services

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lalaredd
Valued Member

Credit Monitoring Services

I would like to know which CMS gives the closest FICO score to what the lenders uses.

 

Right now I am subscribed to Equifax Premier, Truecredit, BOA Privacy Assist, and Myopic.

:

Starting Score: 515 Jan. 28th 2011
Current Score: 670 Today EQ
746 Today TU
Goal Score: 800

Take the FICO Fitness Challenge


Current Score: 648
Goal Score: 750

Take the FICO Fitness Challenge
Message 1 of 4
3 REPLIES 3
fused
Moderator Emeritus

Re: Credit Monitoring Services

The answer is none of them. Scores at CMS are FAKOs and none them can be compared to FICOs. In essence, FAKO scores are rarely used by lenders.

Message 2 of 4
lalaredd
Valued Member

Re: Credit Monitoring Services

So, the best CMS is myfico?

:

Starting Score: 515 Jan. 28th 2011
Current Score: 670 Today EQ
746 Today TU
Goal Score: 800

Take the FICO Fitness Challenge


Current Score: 648
Goal Score: 750

Take the FICO Fitness Challenge
Message 3 of 4
Anonymous
Not applicable

Re: Credit Monitoring Services

You can use any CMS you are comfortable with for monitoring your reports. This will allow you to watch for updates from your creditors and /or changes in information. The CMS is good for finding out when new accounts report, when balances have updated, and when baddies are removed etc. Just don't try to use the scores provided to determine what your FICO score may be.

At $20 a pop most of us cannot afford to use MYFICO for daily or weekly score updates. I buy mine about every 4-6 weeks. You can purchase products on MYFICO which will alert you to changes affecting your score. The info on the products is listed on the site. I prefer a CMS where I can choose when to pull / update my reports. I use the USAA monitoring service. It is relatively inexpensive, will let you pull everyday, and is available to anyone whether you have a USAA account or not.

Like I said on any other CMS just ignore the scores and in most cases the advice given to raise your scores.

Message 4 of 4
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