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Alerts unrelated to provided score changes

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Re: Alerts unrelated to provided score changes

Thanks for all the feedback. The product team has been working on some copy that would be more helpful to our customers. Do you think the proposed replacement would be an improvement?

 

Currently:

“Your score may be affected by additional information in your credit report”

 

 Proposed:

“Your current score is based on your latest credit data.  Score changes may also be caused by other recent changes in your credit data.

 

We appreciate your feedback, and we appreciate the help on this. 

Message 11 of 44
Frequent Contributor

Re: Alerts unrelated to provided score changes

@Cindy_FICO any plans with the development team to increase the speed/accuracy of updates? The change in disclaimer, while maybe helpful, almost seems like a bandaid solution.

When other services, even free ones like Credit Karma for example, alert to changes often days before MF does I don’t see why MF can’t have that same level of service since they are collecting (a lot of) money from customers. Additionally, CK alerts for nearly every little thing that happens to my report; MF largely stays silent.
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Message 12 of 44
Super Contributor

Re: Alerts unrelated to provided score changes


@Cindy_FICO wrote:

Thanks for all the feedback. The product team has been working on some copy that would be more helpful to our customers. Do you think the proposed replacement would be an improvement?

 

Currently:

“Your score may be affected by additional information in your credit report”

 

 Proposed:

“Your current score is based on your latest credit data.  Score changes may also be caused by other recent changes in your credit data.

 

We appreciate your feedback, and we appreciate the help on this. 


Cindy,

 

Thank you for replying to this thread and taking into consideration the opinions of those that have weighed in on the subject.  It sounds like you're open-minded to making a change here, which I think is great news.  I think your proposed statement above is a step in the right direction, but I believe it could still be a bit misleading to the member.  While it does suggest that other credit data changes may impact the score provided, it indirectly I believe still [silently] suggests that the alert reason is impacting the score change.  I feel most members would come away from it saying, "OK, my score changed because of [the alert reason] but also may have changed in part due to something else."  I think it just needs to be clear that the score change could have absolutely nothing to do with the alert, not that the alert coupled with other credit data change(s) caused the score change.  I think the difference here is very subtle in terms of wording, but could completely change how the member interprets what's going on.

 

I'd like to hear what the other members think though, as I could definitely use some help here in terms of wording it best. 

Message 13 of 44
Super Contributor

Re: Alerts unrelated to provided score changes


@CreditSweeper wrote:
The change in disclaimer, while maybe helpful, almost seems like a bandaid solution.


The proposed disclaimer change and the issue you are describing with the speed of alerts relative to other services are two completely different issues;  It wouldn't be a bandaid to address/fix one (or the other). 

Message 14 of 44
Valued Contributor

Re: Alerts unrelated to provided score changes

One of the ways BBS and others explain it in the forums to new members is worded more or less as follows, and blended with Cindy’s proposal. Maybe this would be a good way to eliminate confusion:

“Your credit score is based on your most recent data. Not all credit report changes will generate an alert, so your recent score change may be as a result of your latest alert, a prior non-alerted event, or a combination of the two.”

Opinions and adjustments to improve this are welcome and encouraged.


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Message 15 of 44
Super Contributor

Re: Alerts unrelated to provided score changes


@Cindy_FICO wrote:

Thanks for all the feedback. The product team has been working on some copy that would be more helpful to our customers. Do you think the proposed replacement would be an improvement?

 

Currently:

“Your score may be affected by additional information in your credit report”

 

 Proposed:

“Your current score is based on your latest credit data.  Score changes may also be caused by other recent changes in your credit data.

 

We appreciate your feedback, and we appreciate the help on this. 


Hi Cindy

Thank you so much for looking into this ongoing issue. The problem with the language you suggest is the use of the word "also". It implies that the score change definitely does have some relationship to the alert substance which is often not the case. Often the substance of the alert is something positive, but the score change is negative.

 

I would suggest the following instead:

 

Included in this alert as an additional service to you is an update of your FICO 8 score. The updated score is based on all of your latest credit data, and may or may not have a relationship to the alert content.

 

Thanks again Cindy. Much appreciated.


Total revolving limits 720500 (594000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 16 of 44
Super Contributor

Re: Alerts unrelated to provided score changes


@ImTheDevil wrote:

“Your credit score is based on your most recent data. Not all credit report changes will generate an alert, so your recent score change may be as a result of your latest alert, a prior non-alerted event, or a combination of the two.”


I think we're getting warmer here.

 

Anyone else have an opinion on the quote above? 

Message 17 of 44
Super Contributor

Re: Alerts unrelated to provided score changes


@BrutalBodyShots wrote:

@Cindy_FICO wrote:

Thanks for all the feedback. The product team has been working on some copy that would be more helpful to our customers. Do you think the proposed replacement would be an improvement?

 

Currently:

“Your score may be affected by additional information in your credit report”

 

 Proposed:

“Your current score is based on your latest credit data.  Score changes may also be caused by other recent changes in your credit data.

 

We appreciate your feedback, and we appreciate the help on this. 


Cindy,

 

Thank you for replying to this thread and taking into consideration the opinions of those that have weighed in on the subject.  It sounds like you're open-minded to making a change here, which I think is great news.  I think your proposed statement above is a step in the right direction, but I believe it could still be a bit misleading to the member.  While it does suggest that other credit data changes may impact the score provided, it indirectly I believe still [silently] suggests that the alert reason is impacting the score change.  I feel most members would come away from it saying, "OK, my score changed because of [the alert reason] but also may have changed in part due to something else."  I think it just needs to be clear that the score change could have absolutely nothing to do with the alert, not that the alert coupled with other credit data change(s) caused the score change.  I think the difference here is very subtle in terms of wording, but could completely change how the member interprets what's going on.

 

I'd like to hear what the other members think though, as I could definitely use some help here in terms of wording it best. 


I agree 100%.  This is my suggestion for the disclaimer:

 

Included in this alert as an additional service to you is an update of your FICO 8 score. The updated score is based on all of your latest credit data, and may or may not have a relationship to the alert content.


Total revolving limits 720500 (594000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 18 of 44
Super Contributor

Re: Alerts unrelated to provided score changes


@SouthJamaica wrote:

Included in this alert as an additional service to you is an update of your FICO 8 score. The updated score is based on all of your latest credit data, and may or may not have a relationship to the alert content.

 


I like this a lot too.  The more clear it can be that the alert and the score [change] may not be related the better, since 99% of the time that's the misconception.

Message 19 of 44
Super Contributor

Re: Alerts unrelated to provided score changes


@ImTheDevil wrote:
One of the ways BBS and others explain it in the forums to new members is worded more or less as follows, and blended with Cindy’s proposal. Maybe this would be a good way to eliminate confusion:

“Your credit score is based on your most recent data. Not all credit report changes will generate an alert, so your recent score change may be as a result of your latest alert, a prior non-alerted event, or a combination of the two.”

Opinions and adjustments to improve this are welcome and encouraged.

I think it's good except I would change "a prior non-alerted event" to "one or more prior non-alerted events"


Total revolving limits 720500 (594000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 20 of 44
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