HUGE MyFICO score drop with Transunion

[Anonymous]

Why would my TransUnion score decrease by 75 points due to a newly reported collection account (whose alleged age is over 10 years old and that I have never had any knowledge of owing, i.e., an electric company) and when I choose to dispute it, TransUnion shows absolutely nothing for collections. It's just not there. I have already contacted said electric company to dispute, and after almost a couple weeks, electric company called me back to say it has been removed and should not have been reported. My score is still 75 points lower than it should be, but I'm not sure what I can do about it at this point. This is SO frustrating.

[Anonymous]

That's great that they agreed to remove it! Good job getting to that point!

How long ago was it that they told you it had been removed?

[Zolomon]

If the collection has been removed, but your score hasn't returned to normal, then it just might be a case of an outdated score. The next time you pull a report, and the collection is already removed, you should see an updated score.

[kxkxkxx]

Zolomon is 100% correct!

Depending upon the agency, I have seen them take up to 2 months to "refresh" my score on here when something drastic has happened....

[Anonymous]

This is why I think Experian’s CreditWorks Premium is the better long term solution unless you are going for a mortgage since myFICO includes your other scores for all three while Experian only includes theirs. Alerts are too infrequent for $30-40 a month. And Experian updates your report every day from them so you can grab WalletHub and have daily updates of Experian and Transunion reports and grab Credit Karma for Equifax weekly. $19.95 for 3 bureau monitoring with Experian. 

[Anonymous]

I had a collection account show up on my experian & equifax. Dropped equifax by 8 points... I disputed it and am waiting for results. Experian removed it from my credit report within 2 hrs but score hasn't been updated. This happened few weeks ago. It can take 30 days for score to refresh.

[Anonymous]

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@Anonymous wrote:

Why would my TransUnion score decrease by 75 points due to a newly reported collection account...

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You answered your own question in the first line.  A newly reported collection can knock down a score 100 points or more in some cases.  The good news is that you said it was removed, so now you just have to wait for that updated reporting to happen, pull your score and you'll be right back to where you were pre-collection.

[Anonymous]

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@Anonymous wrote:

This is why I think Experian’s CreditWorks Premium is the better long term solution unless you are going for a mortgage since myFICO includes your other scores for all three while Experian only includes theirs. Alerts are too infrequent for $30-40 a month.

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There's another post on the forum where someone wasn't getting any myFICO alerts, which makes me wonder if they have some sort of problem affecting some users, but not everyone. I am getting alerts to every little thing with myFICO Ultimate 3B+ ($39.95, the monthly report subscription).

I also have Experian CreditWorks Premium and their service is excellent. I signed up for the $4.99 first month trial which I think is a much better deal than the CCT (creditchecktotal.com) $1 one-time 3B report. I mean, for 5 bucks you get at least 30 days of daily Experian updates in addition to the initial 3B report they also give you.

I'm going to keep myFICO and not renew ECP only because I'm most interested in TransUnion scores, which my credit union uses exclusively. But, yeah, if EX scores are good enough for you, go with CreditWorks Premium. I had a statement balance report on January 2nd, and Experian had updated scores by 3am on January 3rd. It's really fast.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

This is why I think Experian’s CreditWorks Premium is the better long term solution unless you are going for a mortgage since myFICO includes your other scores for all three while Experian only includes theirs. Alerts are too infrequent for $30-40 a month.

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There's another post on the forum where someone wasn't getting any myFICO alerts, which makes me wonder if they have some sort of problem affecting some users, but not everyone. I am getting alerts to every little thing with myFICO Ultimate 3B+ ($39.95, the monthly report subscription).

I also have Experian CreditWorks Premium and their service is excellent. I signed up for the $4.99 first month trial which I think is a much better deal than the CCT (creditchecktotal.com) $1 one-time 3B report. I mean, for 5 bucks you get at least 30 days of daily Experian updates in addition to the initial 3B report they also give you.

I'm going to keep myFICO and not renew ECP only because I'm most interested in TransUnion scores, which my credit union uses exclusively. But, yeah, if EX scores are good enough for you, go with CreditWorks Premium. I had a statement balance report on January 2nd, and Experian had updated scores by 3am on January 3rd. It's really fast.

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myFICO has specific things that trigger alerts, not score changes, which is what my issue with it is. I would like a monitoring service to give me my scores in real-time. I get close to that with Experian scores with CWP but I admit that if you want to track all 3, you can’t beat myFICO. NFCU gives me my EQ FICO9, Synchrony and Disco give me my TU FICO8 so I can get by with just the free Experian monitoring, WalletHub, and Credit Karma but I also don’t have specific credit goals other than time at the moment. 

I just wanted to chime in that it would be a much better value if it was updated more often.  

Case in point. I just pulled my Disco update and it’s one point higher than my myFICO report on the same day. So what is accurate?

[Anonymous]

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@Anonymous wrote:

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myFICO has specific things that trigger alerts, not score changes, which is what my issue with it is. I would like a monitoring service to give me my scores in real-time.

Maybe we're talking about two different subscriptions? These are the alerts, with FICO 8 score changes, that I have received since I signed up for myFICO Ultimate 3B+ ($39.95 monthly) on December 31st: