@Anonymous wrote:
I do not at all agree that paid monitoring is a waste of money. We easily spend money on Netflix, eating out, buying clothes, or a host of other unncessary stuff.
For me Credit Check Total https://www.creditchecktotal.com/ at $14.99/month is an investment in knowing what's going on with my credit and financial profile. It may not be necessary for everyone. It gives me a comfort level in knowing in real time things that can effect my financial health and profile. Since our financial or credit profile has such a large impact on how we transact business and access credit and financial resources here, I want to be on top of it for myself and not feel like I am at the mercy of others who have a far greater insight to my credit profile than I do.
And I understand there are blah blah blah number of Fico versions.
As far as answering the OP, I've been in a similar situatio where you pay down your CC balances by $2000+ in a month and expect a score jump, and little to nothing happens. Then the next month youpay down your balances by a far smaller amount and the score jumps 10-15 points. But it is disconcerting when your score falls.
Keep plugging away at paying your individual CC balances down and the overall balances down. Get your individual card and overall balance down below 30%, then 20% and lastly then with the 1-9% range. If your total CC balances remain high, then even paying down $2000+ in a month may not give you the immediate boost you were expecting. But in time your score will jump.
What are your CC balances to CL? What is your individual CC utlization % and overall utilization %. The anwser to your score change likely lies in those factors.
Give us more information to work with.
Yes, it may not be a huge waste of money but is it still worth it? My questions would be:
1) Does the information gained cause you to do something different (our doctors and vets always stress this, "Yes, we could do test X, but whatever the result it wouldn't change the treatement plan. Do you really want us to do it?" with expected answer "No"!)
2) Does it sometimes cause stress (Oh no, my score decreased by 7 points!!!!)?
As Open said, it's a little like stocks: some people track daily/hourly movements of stocks that they have no plans to sell, and get too wrapped up in small random movements.
So I understand it makes you feel more in control, my question is: is that control really meaningful? In any case, you might decide the monthly fee is worth it for that feeling....
