Myfico doesn't work at all, and I am proof.

[Anonymous]

So my score was 706 and I had 25K in debt with about 60% of my total lines in use. Fico score simulator said it would go to 759-800 if I paid off half of my debt.

So I paid $13k off in one day, and waited. first month, no score watch alert at all.

After 45 days, still no score watch alert, so i used my score power freebie. Suddenly my reports are all updated and my score has gone up 9 points.

So in other words, all of my accounts had updated, but myfico scorewatch does not work.

It has now been 60 days and I still have not had a single score watch alert, my only 2 scores are the ones from my two power score pulls. I have paid another 2k off, and even though my score was estimated to go up 50+ points, it went up 9.

[Barry]

Hello lorenicole,

Welcome to the Forums!

First, not to be nitpicky, but you actually enrolled in Score Watch on 5/9/2011, not 60 days ago.  Second, you haven't set a target score, which is required for SW to alert you to a score change.

My suggestions:

1.  Take a look at the Score Watch Guide to better understand how SW works, i.e. it doesn't alert you to balance decreases.

2.  Pull the free report we've added to your subscription and then immediately set your target score to the score on the updated report.  Then the next time your score changes you'll be alerted.

Good luck!

-Barry

[Anonymous]

First off, thanks for the free report. I used it and again my score was higher. But I don't see why I have to pull the score power every time to see my score is higher, shouldn't it be telling me that?

You will be alerted:

• Whenever one of your accounts has a balance increase larger than 5%
• Whenever one of your accounts has a balance increase larger than $5 

My settings say that, but I have never been alerted?

I will look more into my settings and see if I can correct the problem. thanks for your reply.

[Anonymous]

Ok since my score has now risen to 724, that's nice, i wish it was higher but all my recent payments have not hit yet.

I set my new target to 725. So I should be alerted right away when my new balances post. hopefully, we will see.

[Anonymous]

---

@Anonymous wrote:

Ok since my score has now risen to 724, that's nice, i wish it was higher but all my recent payments have not hit yet.

I set my new target to 725. So I should be alerted right away when my new balances post. hopefully, we will see.

---

Hi lorenicole,

Just to be clear, Score Watch is not going to alert you to balance decreases. From the Score Watch Guide:

Reasons why you may not receive a Score Watch alert

Changes that don’t trigger Score Alerts or Credit Alerts:

• A balance decrease won’t trigger a Credit Alert.

Should your target score change, you should be alerted within a few days of the change:

Target Score

Subscriber can turn on/off and set target score.

Triggered whenever the score reaches or crosses the target score set by the subscriber. The target score can be set above or below the current score. If the target score is set equal to the current score, an alert is triggered by any score change either up or down.

HTH!

[Anonymous]

Ok well so far I had a hard hit on my credit, opened a new line with 14k limit, paid off 100% of my debt, and have had not one credit alert since I signed up, my only scores are from score power reports, my target is set at my current score, so i should have been alerted with any movement up OR down.

I know for a fact that my score has changed because I have a different service that actually alerted me.

[haulingthescoreup]

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@Anonymous wrote:

Ok well so far I had a hard hit on my credit, opened a new line with 14k limit, paid off 100% of my debt, and have had not one credit alert since I signed up, my only scores are from score power reports, my target is set at my current score, so i should have been alerted with any movement up OR down.

I know for a fact that my score has changed because I have a different service that actually alerted me.

---

But you wrote earlier:

Ok since my score has now risen to 724, that's nice, i wish it was higher but all my recent payments have not hit yet.

I set my new target to 725. So I should be alerted right away when my new balances post. hopefully, we will see.

Was this a typo? You have to set your target to your current score. By setting your target higher than 724, you wouldn't be notified if your score dropped; only if it rose.

What is your different score service that alerted you? If it monitors FAKO scores, that doesn't mean that your FICO score changed. But I agree, it seems like your FICO score should have changed. Has the new $14K line posted yet, and have your new $0 balances posted yet? (Congrats on that!)

Also, was the hard inq on Equifax? If it was on TransUnion or Experian, Equifax doesn't know about it, so no alert.

[haulingthescoreup]

Ok since my score has now risen to 724, that's nice, i wish it was higher but all my recent payments have not hit yet.

I set my new target to 725. So I should be alerted right away when my new balances post. hopefully, we will see.

[Gray]

Always set the target score to the current score--whenever it changes--and it works more or less.

[Anonymous]

When i wrote my score changed to 724, that was after I had pulled the "score power". I did have my target set 1 point above for a while, but then after I understood the directions I set it to my current score (where it is now).

I only have 3 scores right now, and all three are from "score power" reports. (The customer service gave me a free one). When I used each of the two extra "score power's" my score changed. Other than that it has never changed

Score simulator said if I paid all my debt off I would have about an 810, but after I paid half off and pulled a score power I really only gained several points. Now that it is all paid off I expect it will go up maybe 20 more points. Hopefully over time it will drift up as I have a ton of unused lines available now.My other monitoring service is through one of my credit cards.

Perhaps myfico does not send alerts promptly in order to encourage me to buy more score powers. All I know is that soon I will be to my 3 month subscription mark which I think is the minimum i need to cancel. I likely will have no alerts at all during 3 months (haha) in which case I will be sure to update this thread.

[haulingthescoreup]

And all these paid-off balances had updated to your Equifax report, correct?

After you pay the banks, they have to report the new balances to the credit bureaus. They usually don't do this until your next statement drops. Then the credit bureaus have to post the new figures, and Equifax often takes 3-7 days after the new balances were reported to them. Then once it's on your Equifax report, Scorewatch can then react. (Sorry if you already understand how this works; many people don't.)