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Is MYFICO worth $42+ per month??

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Is MYFICO worth $42+ per month??

Just wondering if anyone is noticing their FICO scores not readily updating in MY FICO? I signed up for this $42 service because I want to monitor daily but I'm noticing its been a few weeks since my scores have updated on this My FICO site, yet I have received score updates from EX and most recently TU. I've given it 16+ days so I would think if its going to update it would have happened by now. I do like the monthly 3B report I get from My FICO because its comprehensive but I find the lag time for updates unacceptable for the fee I'm paying and I think the My FiCO score change notifications are vague resulting in one to do further digging to see why the update was made.

 

I really like this My FICO COmmunity forum - I find reading all your posts helpful. So here are my questions:

  • is it necessary to pay $42/mo for 3B report to have access to this "Community" forum in My FICO?
  • is anyone noticing a huge lag time with FICO score updates on My FICO
  • is anyone paying less than $42+ per month for their 3B report on My FICO - any specials?
  • is there another service that provides a 3B report (or something similar) I should consider?
Starting FICO 8 Score: 2/12/19 EQ579, TU 588, EX 624
Current Score: 10/27/19 EQ682, TU 708, EX 692
Goal Score: 750+ by March 2020


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Message 1 of 13
12 REPLIES 12
Contributor

Re: Is MYFICO worth $42+ per month??

I've never used the MF service (expense I can't do right now) and participate in the community anyway.  I use Experian's Credit Works Premium (sign up for $1 trial, cancel before trial is up, sign up for same $1 trial shortly after).  It gives all three FICO scores (but continuing service it would only refresh the other two bureaus once a month) and reports and the Experian score updates daily.  It gives you alerts for all three bureaus and identity monitoring.

Message 2 of 13
Contributor

Re: Is MYFICO worth $42+ per month??

Adding that you get more score versions with MF.  With Exp you get a handful of different FICO versions for Exp but not all.  And the MF reports may be more comprehensive as well.

Message 3 of 13
Regular Contributor

Re: Is MYFICO worth $42+ per month??

I just signed up myself so I can't really say if I have issues with updates but I am paying $29 for the quarterly reports with score monitoring and updates as they happen (from what I understand).

 

I can say that I've used other services (Equifax, Experian) and this is by far the most comprehensive and gives the scores closest to what would be used in the acquisition of new credit in most cases.

Starting FICO 8 as of 2 APR 2019

FICO 8 as of 10 OCT 2019

FICO 9 as of 2 APR 2019

Goal 700 across the board by 7/2021
Message 4 of 13
Super Contributor

Re: Is MYFICO worth $42+ per month??

What something is "worth" is in eye of the individual.  You'll find people on this forum that feel it's definitely worth the monthly membership fee, then you'll find others like myself that wouldn't have a membership even if it was $3/month.  I will say that I read lots of complaints from those with memberships saying that they're slow to update, alerts coming slower than from other free services, etc. 

Message 5 of 13
Frequent Contributor

Re: Is MYFICO worth $42+ per month??

I answered a similar question last night. Yes, there is a lag with myfico. They are definitely comprehensive but my experian score is still showing from mar 24 when it was updated mar 31st on experian website
10/2019 Exp Fico 8 676, TU Fico 8 686, EQ Fico 8 692 . And climbing...

Cap 1 QS $600 Cap 1 QS1 $750 , Discover $10,500 PNC Cash Rewards Visa $12,500
Message 6 of 13
Super Contributor

Re: Is MYFICO worth $42+ per month??

My answers in blue below!

 


@Credit_Mama wrote:

 

I really like this My FICO COmmunity forum - I find reading all your posts helpful. So here are my questions:

 

  • is it necessary to pay $42/mo for 3B report to have access to this "Community" forum in My FICO?

Absolutely not.  Many of the frequent contributors on this forum have not purchased any of the myFICO credit monitoring services.  (Example: Brutal Body Shots, Thomas Thumb, myself, etc.)

 

  • is anyone noticing a huge lag time with FICO score updates on My FICO

I have heard some people complain about that.  Curiously, these same people will often say that the free service of Credit Karma is much faster with its alerts (e.g. inquiries, new accounts, etc.)

 

  • is anyone paying less than $42+ per month for their 3B report on My FICO - any specials?

Don't know but others may be able to tell you.

 

  • is there another service that provides a 3B report (or something similar) I should consider   

Many people here choose a credit monitoring strategy that uses free or ultra low cost tools.  Again, the three people I mentioned earlier do that (BBS, TT, myself -- I know there are tons of others but I just don't know everyone's name and what approach they use).

 

To give you a direct dollar figure, an ultralow cost strategy could be done either for free (TT, myself) or for a few dollars a year (BBS).  That's in contrast to the roughly $500 per year you are spending.

 

Note, however, that in some cases the $40/mo myFICO package can absolutely be the right fit for a particular person.  A good example would be someone who is trying to prepare for a home purchase that will probably happen three months from now.  Then it's a slam dunk: buy the $40/mo package and then consider cancelling it after you own the home.

 


 

Message 7 of 13
Regular Contributor

Re: Is MYFICO worth $42+ per month??



@Credit_Mama wrote:

Just wondering if anyone is noticing their FICO scores not readily updating in MY FICO? I signed up for this $42 service because I want to monitor daily but I'm noticing its been a few weeks since my scores have updated on this My FICO site, yet I have received score updates from EX and most recently TU. I've given it 16+ days so I would think if its going to update it would have happened by now. I do like the monthly 3B report I get from My FICO because its comprehensive but I find the lag time for updates unacceptable for the fee I'm paying and I think the My FiCO score change notifications are vague resulting in one to do further digging to see why the update was made.

 

I really like this My FICO COmmunity forum - I find reading all your posts helpful. So here are my questions:

  • is it necessary to pay $42/mo for 3B report to have access to this "Community" forum in My FICO?
  • is anyone noticing a huge lag time with FICO score updates on My FICO
  • is anyone paying less than $42+ per month for their 3B report on My FICO - any specials?
  • is there another service that provides a 3B report (or something similar) I should consider?

@Credit_Mama wrote:

Just wondering if anyone is noticing their FICO scores not readily updating in MY FICO? I signed up for this $42 service because I want to monitor daily but I'm noticing its been a few weeks since my scores have updated on this My FICO site, yet I have received score updates from EX and most recently TU. I've given it 16+ days so I would think if its going to update it would have happened by now. I do like the monthly 3B report I get from My FICO because its comprehensive but I find the lag time for updates unacceptable for the fee I'm paying and I think the My FiCO score change notifications are vague resulting in one to do further digging to see why the update was made.

 

I really like this My FICO COmmunity forum - I find reading all your posts helpful. So here are my questions:

  • is it necessary to pay $42/mo for 3B report to have access to this "Community" forum in My FICO?
  • is anyone noticing a huge lag time with FICO score updates on My FICO
  • is anyone paying less than $42+ per month for their 3B report on My FICO - any specials?
  • is there another service that provides a 3B report (or something similar) I should consider?

I personally think it is imperative if you’re thinking of purchasing a home.  I found it invaluable, however, once I closed escrow I paused my subscription.   I had both subscriptions (MyFICO and Experian’s).  I DO prefer MyFICO over Experians, but I prefer not to pay the $39.99 every month.  However, every three months I unpause just so I know where all my scores are.  I’ve become OCD with my credit.

 

Also, I don’t  find much difference in the updating.  The score updating is similar (times) with Experian’s and MyFICO.  Only issue (with both services) is Equifax—but that’s because this CRA is slow in updating (or, the credit companies don’t report to EQ).

 

you don’t need a subscription to be a member of MyFICO forums.

Message 8 of 13
Valued Contributor

Re: Is MYFICO worth $42+ per month??

The only scores that change throughout the month are your core FICO 8 scores.  If you want to see any other changes you will have to wait for a monthly update for other scores.

 

As far as price goes, don't sign up for the monthly subscription for $40.  Sign up for the quarterly for $30 and then cancel.  Resign up for the quarterly every month.  Obviously you will have monthly monitoring and fresh pulls every month for while saving $10 per month.  Since there is a coupon code that you can apply at checkout, it would be wise to google myfico coupons and try to find active codes for even better savings.  They certainly won't tell you if they are running a promo or not before checkout but a quick google search can save you $. 

 FICO 8
Message 9 of 13
Regular Contributor

Re: Is MYFICO worth $42+ per month??

I’ve had the same gripe with slow updating of my TU and EQ alerts with my Fico.  I’ll start pulling them quarterly as suggested .

Message 10 of 13
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