@Anonymous wrote:
I'm a bit confused here. I had monitoring and score plans through truecredit and equifax. After reading a bit about FICO vs FAKO scores, I decided to cancel my truecredit plan (which was a pain in the a$$ since the sales guy would just not get it). So here I am now on myFICO and I seem to see a lot here about how myfico monitors my equifax score.. so why would I sign up through myfico to monitor my score / credit vs just staying with equifax? I would greatly appreciate it if someone shed some light on this for me, thanks!
Scorewatch is a joint project between Equifax and FICO for monitoring EQ FICO scores and changes on one's Equifax report. It can be purchased on either the myFICO site or on the Equifax site.
Equifax has recently started offering a 3-in-1 monitoring service for all three reports, and alas, it's offering FAKO's, including on the Equifax report.
There's really nothing wrong with these other 3-in-1 services to follow changes in reports. Just because the scores are FAKO's, that doesn't mean that the reports can't be useful. (Although most don't truly update in real time.) You just have to learn to ignore their scores, which are FAKO's, and any advice they give, which is derived from their FAKO scoring formulas and often contradicts what is good for your FICO's.
eta: I meant to mention that Equifax also has something called Credit Watch Gold, which allows you to pull a full EQ report every day, if you're crazy enough to do so. It's great for monitoring your EQ report, but it doesn't give you your EQ FICO score, at least not on a recurring basis. There's also a version that comes with access to TU and EX reports, but I think you can only pull them once a year or something, unless you want to pay extra.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
