cancel
Showing results for 
Search instead for 
Did you mean: 

How long before FICO updates?

darwin_wins
Established Contributor

How long before FICO updates?

I had a collection drop off EQ & EX around 1st. I haven't seen an update from MF yet. I wanted to see if there is a score change but because of no changes I don't see any updates. 

 

Any idea  how long before MyFico will get that update?

Message 1 of 11
10 REPLIES 10
rmduhon27
Valued Contributor

Re: How long before FICO updates?

From what I understand, MyFico will update when a card balance change gets reported.
Message 2 of 11
mco7816
Frequent Contributor

Re: How long before FICO updates?

I think it changes everyday specially when new account, new inquiry added, new age credit, something drops etc... but you dont get a new score till a month? and it updates too when the creditor reports it.

FICO 8: 1/1/16 / 12/30/2016 [EQ: 518/681] [TU:522/714] [EX: 535/689] TCL: $108K INQ: 138 between the 3 NO MO CARD FOR ME

Message 3 of 11
RonM21
Valued Contributor

Re: How long before FICO updates?

You have to be patient with MF. They tend to be a bit slower on updates that you can see, compared to some others.
                

Total CL: $304.1kUTL: 3%AAoA: 6.8yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k |DISC-40.6k | PENFED-38.4k | AMEX-37k | NFCU-37k | LOWES-35k | ALLIANT-25k | BARCLAYS-15k | CITI-11.7k | CHASE-10k

Message 4 of 11
darwin_wins
Established Contributor

Re: How long before FICO updates?

That's kinda stupid. Why would I want to keep on paying for the monthly service if they are slower all the times? I was hoping to see a positive change after that collection dropped and 5 days after the drop nothing has come back.

Is there a schedule that MF follows? Like we pulls every nth day of the month? (don't need an actual date).
Message 5 of 11
darwin_wins
Established Contributor

Re: How long before FICO updates?

So a big collection drops off doesn't trigger this update? That's kinda strange
Message 6 of 11
AFTERLIFE401
Frequent Contributor

Re: How long before FICO updates?

Im on the same boat I have had 3 deletions on July 2 and 1 more today across all 3 CB and1 more deletion put in today for equifax and still no alerts no nothing kinda disappointed with myfico but what to do this is the only place to get your real score straight from the horses mouth
Message 7 of 11
darwin_wins
Established Contributor

Re: How long before FICO updates?

Yea I know and it ain't cheap to pay for the subscription so when you pay for it at least give us the updates!
Message 8 of 11
takeshi74
Senior Contributor

Re: How long before FICO updates?


@darwin_wins wrote:
That's kinda stupid. Why would I want to keep on paying for the monthly service if they are slower all the times?
Is there a schedule that MF follows? Like we pulls every nth day of the month? (don't need an actual date).

Your call to make.  Always make sure you understand the tools you're using.  myFICO doesn't update on fixed intervals.  It is a trigger based service.  The triggers are frequently discussed but here's a link:

http://myfico.custhelp.com/app/answers/detail/a_id/463/~/understanding-what-triggers-fico%C2%AE-3-bu...

 

Only trigger activity will cause an update.  Not all activity with a scoring impact is a trigger.  You'll see an update from myFICO when there's an update on the report that is a trigger for myFICO.

 

If you want fixed update intervals then myFICO is the wrong tool for the job.  If you want FICO 8's then consider a service like CCT.  Don't overlook the existing discussions on monitoring services and FICO sources.

 


@AFTERLIFE401 wrote:
kinda disappointed with myfico but what to do this is the only place to get your real score straight from the horses mouth

That is incorrect.  myFICO is not the only source for FICO's.  Don't overlook all the existing discussions on other monitoring services and sources of FICO's.  Don't rely on oversimplifications such as "real".  Always consider the specific scoring model and CRA for any given score.  Also consider the relevance of a given model/CRA combo to a given creditor/product as they do not all use the same model and CRA and only the model/CRA combo used in the decision is relevant.

 

As an example, a TU FICO 8 is a TU FICO 8 regardless of source.  myFICO, Discover, Barclaycard, etc provide TU FICO 8's and they are the same model & CRA.  As long as the report data doesn't differ enough from the time one of those scores is generated to the time another one of them is generated they will produce the same number.

Message 9 of 11
takeshi74
Senior Contributor

Re: How long before FICO updates?

 
Message 10 of 11
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.