OP, it's been, what two weeks you've been on the 3 Bureau monitoring? Can you provide some details about your credit standing?
Which cards do you have? Have you only done the one inquiry recently? Do those cards carry any balance, what are the statement dates, and do you use them so they would have been expected to report a balance change during these 14 days? Any new cards just issued?
Did you get the three-bureau credit reports at the start? Is the data in those reports accurate?
While the specific scores provided here are not mortgage scores, your underlying credit report and credit activity, payment history is the same. Any steps you take or results you see from this monitoring will be directionally the same as what will affect your mortgage score. And as to finding an affordable mortgage score monitoring service, I'm sure many would like to find that, however it seems not affordable, or just not available.
@Anonymous wrote:New account, that I accidentally let report high utilization, not causing Amy change on transunion to update. Payments made to my other two accounts. Changes in old accounts/baddies that I am in the process of trying to get off.
I understand these are not mortgage scores. What my point is, I was sold on the fact that this product updates frequently, the rep I spoke with said daily. Well that a not the case. I'm just complaining because I bought a product that was not what it was said to be. I'm pretty sure no one else has EVER done this.
Anyway, thanks to these forums I found out how useless it is, and wasjust hoping someone knew a trick to get updates that didn't require so type of inquiry or something of the sort
FWIW, I've just gone an entire week on the 3 Bureau monitoring, 8 total notifications of various changes in balances during that time and no changes to any of the three bureaus scores. But I've also gone through a busy couple of months with some inquiries, changes to where I have amounts, new accounts, and thus movement in my scores. I expect in the next few days to see some triggers that may raise my scores, but not by a huge amount.
When the rep said "update" does that mean they will notify of an event, or recalculate the FICO? Because only a very few times have I seen any of the three bureau scores recalculate on successive days. Usually it is more like 6 to 10 day gaps between recalculations.
Remember, it's a marathon, not a sprint.
I've had the 3B product since early Oct ...there were a lot of problems during the first few weeks and I posted many complants over in the myFico products forum
...if you read any of my posts in that forum you'll be hard pressed to ID me as a myFico acolyte/bleeding heart ...especially regarding their marketing of the 3B product
...that said, the product now works just fine for me ...thats based on both myFico getting its act together and my finally understanding what the product does and does not do ...its far from perfect but then what is, eh?
...it DOES do daily monitoring but only in the sense that it sends alerts when the CRAs report a CR data change to myFico ...and any score changes that result ...but note that if you already have 7 inquiries on a CR in the past 60 days, 1 or 2 more probably won't change your score
...and none of the CRAs report the same changes in the same manner or in the same time-frame ...and that is their problem, not myFico's
...the idea that if you change a balance on a CC or draw an inquiry it /should/will be immediately reflected in your myFico 3B is simply nonsense
...first, the CC companies update the CRAs at the CCs convenience, not the CRA's, myFico's, or yours ...it may be 45-60 days before they report ...or it may be the same day
...or worse yet, they may update one or the other but not all ...there is no law or reg that requires that, just common industry practice
...either way, myFico has no way of knowing you did something until the change gets through all the reporting chains and enters their system ...THEN and ONLY then do you get some kind of "daily" monitoring of the report changes they get from the CRAs
...and even then, the 3B monitoring only has the last report YOU paid for as their baseline ...to which they update the changes the CRAs report ...since the CRAs do NOT report all changes to your CR to myFico nor do they report the same data in the same manner to myFico, you can begin to understand the limitations of the product
...imnsho, myFico still provides the best 3B scorewatch reports available at a reasonable price ...YMMV but please, try to understand how the system actually works ...not how you think it should work ...if you have a better idea, the myFico product forum is the place to be ...the mods actually pay some attention to reasonable complaints ...and there is a "sticky" there that does a fair job of explaining how the 3B works.
...as to how/why CK and other FAKO sites sometimes get updates before myFico does, afaik CK is owned by TU and gets direct access to TU data ...but that is counter-balanced by their use of a FAKO scoring system and differences in the way they report/view your CR data ...I no longer monitor CK or others because of that ...hth
I loved Score Watch when they were reporting FICO 04 scores. The monitoring part is extremely useful. Inquiries and balance changes are reported usually within 24 hours of hitting the CRA's.
