Score update lag after reporting balance

[Anonymous]

I'm following closely how quick the report has been updated on EQ and how quick the scores are updating on MyFICO so I figured I'll share the observation as I've seen this question asked a few time already:

My CU reported a major change in my LOC balance on 5/1

On 5/4 it still didn't appear on a credit report I pulled via Experian

On 5/5 I called EX - they acknoledged the new balance is updated that day (4 days after I expected)

On 5/6 I got MyFico alerts for EQ & TU (seemd to have triggered from a collection I paid and was reported on 5/1)

On 5/7 I got an EX alert (But nothing on MyFICO)

I noticed some previouls EX alerts on MyFICO were in my email around 8:30AM EST, so I'll see if something comes in tomorrow.

[Anonymous]

Well, 3 days and still no Experian alert on MyFico... 

I even called customer service who have no clue how their product works (they alawys blame EX for not updating them, which seems false to me, it is more likely that they need to run a soft inquiry, I've seen daily soft inquiries from MyFico on my annual CRAs reports).

myFICO support site says that "Your credit reports from all three bureaus are monitored daily for any changes.  When a monitored item on your credit report changes, an alert is triggered, notifying you of the details.   An updated FICO Score from each bureau accompanies each credit alert. Your scores are monitored daily."

So this is false as for 3 days not only I didn't get an alert, I also got today an email from myFICO stating there were no changes on Experian all week.

[Anonymous]

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@Anonymous wrote:

Well, 3 days and still no Experian alert on MyFico... 

I even called customer service who have no clue how their product works (they alawys blame EX for not updating them, which seems false to me, it is more likely that they need to run a soft inquiry, I've seen daily soft inquiries from MyFico on my annual CRAs reports).

myFICO support site says that "Your credit reports from all three bureaus are monitored daily for any changes.  When a monitored item on your credit report changes, an alert is triggered, notifying you of the details.   An updated FICO Score from each bureau accompanies each credit alert. Your scores are monitored daily."

So this is false as for 3 days not only I didn't get an alert, I also got today an email from myFICO stating there were no changes on Experian all week.

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This month is my first and will be my last because of this reason. I paid $25 bucks to get late info. Later MyFico. You won't get any more money from me!

[Anonymous]

Same here, tomorrow My EX subscription starts and I'll downgrade myFICO

[Anonymous]

Wish I had read all this BEFORE beginning FICO® IDENTITY ULTIMATE.  Just cancelled both EQ and EX (both at $9.95 per month) and now I see there is lagging on reporting scores.  My ACTUAL question was:  On an alert saying "Your EQ/EX score went up/down 10 points," does FICO actually tell you what it's up or down TO?  I'm guessing not.  This may be a short relationship with myFICO.

[Anonymous]

An alert should give you an updated score.

This is what myFICO support page says: "An updated FICO Score from each bureau accompanies each credit alert. Your scores are monitored daily."

[Anonymous]

I have My Best Buy and Amazon Prime Synchrony statements cut May 24th and 28th with zero balances that I am waiting for myfico updates on.

To be fair, they still are listing the April balances on Credit Karma as well as of Sunday.

[Anonymous]

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@Anonymous wrote:
I have My Best Buy and Amazon Prime Synchrony statements cut May 24th and 28th with zero balances that I am waiting for myfico updates on.

To be fair, they still are listing the April balances on Credit Karma as well as of Sunday.

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I've been following it closesly for the past month - Amex reported the fastest (2 days from closing date), others took 3-5 days on average and up to a week to report.

EX was usually faster to update compared to EQ and TU.

[Anonymous]

Amex updated quickly with Credit Karma.

As for the other accounts:

6/03 No myfico alerts or balance / score updates from my 5/24 and 5/28 zero balance statement cuts for my best buy and Amazon sync.

6/03 Experian dispute does indicate these 2 accounts are at zero on my EX report, with 5/24 and 5/28 as Last Reported.

If myfico takes this long to update something as significant as a card going from 30% to 0% utilization, I'm not sure what the point is... major apps people use these services for usually have a window of a few days or weeks. By the time all my zero balance statements are updated on myfico, other balances might have reported and I would lose that window of peak fico score... not everyone can keep balances at zero for months on end and put off major applications for months on end waiting for delayed alerts. They at least shouldn't claim it's "daily," call it weekly if they are only soft pulling you once a week like credit karma.

[Anonymous]

Update, equifax just updated the Amazon on myfico. So that's one of 6 zero balance alerts that should be coming.