No SW alert for new account

[Anonymous]

Isn't SW supposed to alert you anytime a new account posts to your report?  I thought this was one of those automatic alerts that are always supposed to happen (as opposed to alerts you can control).  I got a SW alert today telling me that my score went down 52 points but that there was no change to my credit report.  I knew that I should have a new account posting soon since I had to buy a car last month, so I expected to have a score decrease.  But I got really concerned when I saw the decrease and had not gotten an alert that the new account posted.  I was so worried that I ended up using my last free Score Power report to find out what was going, only to see that my new account actually had posted and SW just didn't alert me to it.  So it looks like SW is not working right since it didn't give me the account alert and now I'm frustrated that I had to burn a free Score Power report just to find out something that I should have been alerted to.

[llecs]

What was the reason behind the score alert?

[Anonymous]

I didn't give me a reason, it just said that my score dropped and gave me the new score.  It said that my score changed on a day when there were no credit alerts and then said this:

Your FICO® score went down on a day when there were no credit alerts on your Equifax Credit Report™. This can happen if:

• There was a change on your credit report that lowered your score but did not trigger an alert. For example, the balance on an account might have increased enough to lower your score, but not enough to trigger a balance increase alert.
• You moved from one category of credit users to another as time passed. For example, you may have transitioned from the category "consumers with a new credit history" to the category "consumers with a two- to five-year credit history". As a result, your credit report is evaluated differently, causing a slight change in your score. The good news is that moving between categories like this usually offers you the potential to reach a higher FICO® score in the future.

I have all of my credit alerts set to the lowest possible setting, so I know the first possible reason can't be true.  I don't know what all of the possible categories are, so I can't say whether the second option could be true.  What I do know is that I thought I was supposed to be alerted to all new accounts and my new car note account didn't get alerted, so I assumed it was still unreported when the score drop came through.  Now that I know that it actually did report (but not alert), I'm assuming that the drop was actually caused by the new debt.

[drkaje]

Can a new car loan drop someone's score that much?

[llecs]

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@drkaje wrote:

Can a new car loan drop someone's score that much?

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Not likely.

[Barry]

Hi Evangeline146,

You're right, you should have received an alert when the new auto loan was added to your report.  We've added a couple of free reports to make up for the missed alert and the report you had to pull to check on it.

As for the score decrease, you recently had some lates removed from at least one account that has resulted in you being "rebucketed."  If you had disputed these lates with EQ before their removal, your score could have increased when the account went into dispute and was excluded from scoring, and then dropped back down to where it was before the dispute once resolved.  Sorry, but I'm working with limited info, so I can't be entirely sure about any of this being the reason for the score drop. 

Barry

[Anonymous]

Thanks for the additional Score Power reports.  I haven't disputed anything.  I had paid off some accounts and some of my lates had aged off, so my score went up and I got score alerts for that.  Then all of the sudden my score went down to below where I started from a few months ago.  So if it was because of the rebucketing, that was quite a blow.

[pakman92]

New account for me has not generated an alert at all nor my wife.  I saw early yesterday morning from USAA credit monitoring pulls that new Costco Amex account was showing up on mine and my wfie's Equifax reports.  Yet, still no SW alert.

I have it set to generate alert on new accounts reporting for both mine and mywife's (pakwoman) SW accounts.  Makes me wonder why I'm paying for this service when I works sometimes and it doesn't at other times.  Can someone from myFICO look into our accounts please?

[Barry]

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@pakman92 wrote:

New account for me has not generated an alert at all nor my wife.  I saw early yesterday morning from USAA credit monitoring pulls that new Costco Amex account was showing up on mine and my wfie's Equifax reports.  Yet, still no SW alert.

I have it set to generate alert on new accounts reporting for both mine and mywife's (pakwoman) SW accounts.  Makes me wonder why I'm paying for this service when I works sometimes and it doesn't at other times.  Can someone from myFICO look into our accounts please?

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Hi pakman92,

It looks like the alert for that new account was sent yesterday.  Did you get it?

Barry

[pakman92]

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@Barry wrote:

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@pakman92 wrote:

New account for me has not generated an alert at all nor my wife.  I saw early yesterday morning from USAA credit monitoring pulls that new Costco Amex account was showing up on mine and my wfie's Equifax reports.  Yet, still no SW alert.

I have it set to generate alert on new accounts reporting for both mine and mywife's (pakwoman) SW accounts.  Makes me wonder why I'm paying for this service when I works sometimes and it doesn't at other times.  Can someone from myFICO look into our accounts please?

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Hi pakman92,

It looks like the alert for that new account was sent yesterday.  Did you get it?

Barry

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I see it in when I log in.  For whatever reason I did not get an e-mail.