Question on TU Quarterly Monitoring?

[Jazzzy]

I just received a new quarterly monitoring score/report from TU. My question is that it shows 3 new accounts that have reported in the last quarter. These new accounts all report with yesterday's date as the alert date.

Yet, I get emails weekly from Quarterly Monitoring that tells me there are no changes. Well..yes there were.

Am I supposed to be getting alerts when a new account shows up during the quarter, for example? Or, am I just supposed to be notified quarterly? And, if I am supposed to only be alerted quarterly, why do I get emails weekly telling me that nothing new has happened?

[Anonymous]

I had similar quesitons/concerns in the past. I read the FQM page and here's the answer:

Credit Monitoring

• Quarterly FICO® credit score and report monitoring
• Weekly monitoring of 400 data sources for new information tied to your identity, including:
  • New names
  • New dates of birth
  • New social security numbers
  • New addresses
  • New phone numbers

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• Quarterly TransUnion credit report analysis, monitoring:
  • Changes to your TransUnion FICO® score, and reasons for changes
  • Changes to name, date of birth, or social security number
  • Newly listed addresses or phone numbers
  • Newly listed employers
  • Newly opened accounts
  • Recent applications for new credit
  • Recent increases in account balances
  • Accounts in bad status
  • Newly listed public records, such as bankruptcies, foreclosures, and tax liens
  • Newly listed collection company records

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Hope this helps clear things up...

Message Edited by bigtim on 02-18-2010 06:50 AM

[Barry]

That's right, bigtim! I confess I had to think about that a bit, as in "yeah what are those weekly alerts about?"

[Jazzzy]

Thanks bigtim. I wondered why every week nothing changed, but then in the quarterly report there were all these changes.

Don't you wish there was simply a monitoring/score service that offered all 3 reports with FICO scores daily?

I think people would pay a decent amount for that rather than the messy, confusing systems available today.

[Anonymous]

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@LynetteM wrote:

Don't you wish there was simply a monitoring/score service that offered all 3 reports with FICO scores daily?

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No! Why I think that would be just silly and too simple. I think the system should remain as it is so that the unfortunate newcomers who know even less than us will have to wade through the months worth of information and speculation just to get the little knowledge that us insiders have worked so hard to obtain - and still not be sure as to exactly what the heck is going on...

[haulingthescoreup]

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bigtim wrote:

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@LynetteM wrote:

Don't you wish there was simply a monitoring/score service that offered all 3 reports with FICO scores daily?

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No! Why I think that would be just silly and too simple. I think the system should remain as it is so that the unfortunate newcomers who know even less than us will have to wade through the months worth of information and speculation just to get the little knowledge that us insiders have worked so hard to obtain - and still not be sure as to exactly what the heck is going on...

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lol

I would love to see a service with daily pulls and one FICO score pull per report each month, maybe even each quarter, with the option to buy more when we just can't wait for the next automatic one. (I remember those days of constant score obsessing. That was back when my scores actually moved. )

This would still be amazingly expensive. Remember, even though our payments go through the myFICO site, FICO has to pay the CRA's when we pull a score. Three pulls every day? Plus access to our credit reports? Ouch!

Just as an aside on credit fraud protection, there are plenty of other monitoring services out there that purport to alert consumers to possible ID fraud. IMO, if someone is so involved in their credit to where they pull daily or nearly so, they're going to notice new inquiries and accounts suddenly popping up. So I've never really seen the point in myFICO offering that sort of service. Just give us a portal to our three reports and periodic FICO score pulls. That's where the market is, at least among my fellow crazies here on the forums.

[Anonymous]

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@Anonymous wrote:

No! Why I think that would be just silly and too simple. I think the system should remain as it is so that the unfortunate newcomers who know even less than us will have to wade through the months worth of information and speculation just to get the little knowledge that us insiders have worked so hard to obtain - and still not be sure as to exactly what the heck is going on...

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You just described me...