Score Watch??

[Anonymous]

I am new to SW just wondering do they send their auto matic weekly updates on a certain day?  I haven't heard anything--not sure it is working

[Barry]

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TRYINGHARDTOUPSCORE wrote:

I am new to SW just wondering do they send their auto matic weekly updates on a certain day?  I haven't heard anything--not sure it is working

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Hi TRYINGHARDTOUPSCORE...There are no automatic weekly updates.  Alerts are triggered by changes to your credit report and score. If there are no such changes over a month, you'll get an email telling you this.  For more info, you may want to check out the Score Watch Guide stickeyed on this board. 

Message Edited by Barry on 08-11-2008 06:16 PM

[hoping2rebuild]

If I read correctly that scorewatch will alert if there is a change in collection

so if one is removed then I should get an alert? or am I reading this wrong?

Thanks

[Barry]

Good question and perhaps that needs to be stated more clearly in the Score Watch Guide.  No, you're not alerted when something had been removed from your report.  What's meant by a 'change' is that if a collection updates from unpaid to paid you'll be alerted.

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hoping2rebuild wrote:

If I read correctly that scorewatch will alert if there is a change in collection

so if one is removed then I should get an alert? or am I reading this wrong?

Thanks

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[hoping2rebuild]

Thank you Barry  for your response

I will wait 2 weeks and pull from here again

to see if they have been removed

[Anonymous]

RE: Equifax myFico Score Watch; 

Does anyone know if a three month period without any score watch changes is normal? I was getting small Fico score increases monthly for the better part of the last 6 months. Prior to that, my score would bounce up and down by a couple of points monthly.  But there was almost always some score activity, for better or worse, on a monthly basis. 

But lately, there's been no activity at all.  Am I being impatient or is something broken?  I have my target score set to my current Fico. And I find it hard to believe that three months can pass without even a 1 point swing in my score. In that time my credit limits have been raised, my bills are current, and my utilization is < 1% .

 Any ideas?

Cato

Update: Whoa!  Not 60 minutes after this message posted I got the following Score Watch Alert and a 5 point drop in my score. Grrrrrrrrr.   

  Previously reported Newly reported Account balance: $0 $47
You received this alert because this balance which was previously $0 increased to $47.

A large balance on an account, or balances on many accounts, can be a sign that you may be having trouble paying back debts. Since your FICO® score measures the chances that you will pay back a debt, larger balances or balances on more accounts can lower your score.

"Maxing out" a credit card or other line of credit is when the balance on the account comes close to the account's credit limit. This can dramatically lower your FICO® score because it is often a sign of a consumer who desperately needs credit and may not be able to pay it back.

The drop in your FICO® score caused by a balance increase can be reversed by paying down the balance.

Apparently, having a balance of 47 dollars was seen as a negative. Especially puzzling is that it was paid in full a week ago--a mere 3 days after it posted on my statement.

Well, at least they were paying attention.

But it's stunning that such ridiculously low credit card useage is considered a negative.  Tsk.

Cato

Message Edited by cato on 12-07-2008 01:53 PM

Message Edited by cato on 12-07-2008 01:57 PM

[Anonymous]

I will be purchasing soon and will be leaving some feedback

[Anonymous]

I have a simple question about SW. I paid for the full year SW & the package with the other two scores. It is to my understanding that I get to pull SW 2 X's a year.

Since I only have a few days left in 2008 and one SW to pull, does it roll over to 2009 or is it like "use or  lose"?

[Barry]

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RLL1171 wrote:

I have a simple question about SW. I paid for the full year SW & the package with the other two scores. It is to my understanding that I get to pull SW 2 X's a year.

Since I only have a few days left in 2008 and one SW to pull, does it roll over to 2009 or is it like "use or  lose"?

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Hi RLL1171....You'll have until a full year from the date you first subscribed to pull that report.

[Anonymous]

Ok, so when it is 2009 I will be able to pull 3 x's right?