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FICO 3 bureau report

Regular Contributor

FICO 3 bureau report

  1. I bought the 30 day 3 bureau report on 3/7/18. How often does it update? It says "FICO Score 8 based onEquifax data as of 03/07/2018". Does that mean my 30 day report is only a snapshot of that day? Do I have to pay to refresh it?
Message 1 of 7
6 REPLIES
Contributor

Re: FICO 3 bureau report

You'll see any updates and changes in score but you will not receive a new report until the following month.


EQ8: 732 | TU8: 728 | EX8: 726
EQ9: 753 | TU9: 723 | EX9: 748

AMEX PRG NPSL | CSP $5,000 | CFU $4,500 | SLATE $3,000 | DISCOVER CHROME $3,000 | CAP1 QS $1,500 | NFCU CR $1,500 | CREDIT1 PLAT $500 | HOME DEPOT $5,000 | OVERSTOCK $3,500 | NFCU CLOC $10,000 | PENFED OLOC $500 |

Message 2 of 7
Super Contributor

Re: FICO 3 bureau report

ALL credit reports (and credit scores, for that matter) are snapshots of a single point in time. 

 

If you're getting an update every 30 days from a certain source, your profile could dramatically change 1 day after your report/score is generated and you won't see that change reflected for another ~29 days. 

Message 3 of 7
Established Contributor

Re: FICO 3 bureau report


@Seezerwrote:
  1. I bought the 30 day 3 bureau report on 3/7/18. How often does it update? It says "FICO Score 8 based onEquifax data as of 03/07/2018". Does that mean my 30 day report is only a snapshot of that day? Do I have to pay to refresh it?

If you purchased the $39.95 monthly plan, you'll receive alerts when your scores change, but only get a new report every 30 days.

Message 4 of 7
Super Contributor

Re: FICO 3 bureau report

TC,

 

Aren't alerts received whenever an alertable event happens, not when there's a score change?  For example, one may receive an alert that they paid off a revolving account.  Perhaps the prior balance was $3, so they paid off $3.  This may result in no score change at all, but I believe an alert would still be received stating that an account was paid off.  Conversely, someone may take a $500 limit credit card with a $3 reported balance to a reported balance of $300 the next cycle, which I don't believe would result in an alert... but more than likely this event would cause a score drop that would go unrecognized until the next alertable event hits, thus generating a new score.

Message 5 of 7
Valued Member

Re: FICO 3 bureau report


@BrutalBodyShotswrote:

...

Conversely, someone may take a $500 limit credit card with a $3 reported balance to a reported balance of $300 the next cycle, which I don't believe would result in an alert... but more than likely this event would cause a score drop that would go unrecognized until the next alertable event hits, thus generating a new score.


A balance change of $1 or greater results in an alert, although you can set the threshold higher if you choose. 

https://www1.myfico.com/products/fico-credit-monitoring

Message 6 of 7
Established Contributor

Re: FICO 3 bureau report


@BrutalBodyShotswrote:

TC,

 

Aren't alerts received whenever an alertable event happens, not when there's a score change?  For example, one may receive an alert that they paid off a revolving account.  Perhaps the prior balance was $3, so they paid off $3.  This may result in no score change at all, but I believe an alert would still be received stating that an account was paid off.  Conversely, someone may take a $500 limit credit card with a $3 reported balance to a reported balance of $300 the next cycle, which I don't believe would result in an alert... but more than likely this event would cause a score drop that would go unrecognized until the next alertable event hits, thus generating a new score.


I knew this, just didn't go into all the details.

Message 7 of 7