To keep beating this dead horse: My ScoreWatch was "upgraded" yesterday to the newer model and it is now much closer to the DIscover app FICO....just in time for me to have understood why I might not want that and want to start focusing on a more mortgage-relevant number...
I went from EQ 650 to EQ 697 yesterday.
If (as a lot of people on this forum have rightly pointed out) the older model is a more accurate frame of reference when seeking a mortgage, is there still value in ScoreWatch if I now see a nearly 50 point difference? In my personal case, it could be problematic as it would provide a false sense of security being quite a bit higher.
For those of you who have sung the praises of ScoreWatch before citing it being a more relevant number....what now?
@hahayepyep wrote:To keep beating this dead horse: My ScoreWatch was "upgraded" yesterday to the newer model and it is now much closer to the DIscover app FICO....just in time for me to have understood why I might not want that and want to start focusing on a more mortgage-relevant number...
I went from EQ 650 to EQ 697 yesterday.
If (as a lot of people on this forum have rightly pointed out) the older model is a more accurate frame of reference when seeking a mortgage, is there still value in ScoreWatch if I now see a nearly 50 point difference? In my personal case, it could be problematic as it would provide a false sense of security being quite a bit higher.
For those of you who have sung the praises of ScoreWatch before citing it being a more relevant number....what now?
Three different use cases:
1) Score tracking for mortgage - less relevant
2) Score tracking for credit cards or whatever - more relevant
3) More granular than the once a month(ish) freebie scores and more accurate than the FAKO's - same relevance.
Depending what you want out of it, is going to derive your value. Unfortunately for me I'm firmly in camp 1 as a consumer.
