Scorewatch

[Anonymous]

I know there is roughly 4,000 topics no Scorewatch and how horrible of a program it is but seriously I don't understand why I'm paying monthly for a service that hasn't updated on my end in weeks.  No new score, no new alerts, nothing.

Now honestly I'm ok that no new alerts have happened, thats ok I haven't opened any new accounts.  I did pay some collections but I'm sure it'll take a year or two for those companies to even contemplating reporting that.  But I really signed up to get a weekly credit score, whether its changed or not and this program obviously doesn't provide this.

        I think I read that I couldn't cancel until I've been with them for 3 months, but seriously will my score ever update before the 3 months are up or is this just wishful thinking? 

[llecs]

ScoreWatch (SW) will monitor your EQ report whenever there's been a major change:

• Newly opened accounts
• Inquiries from applications for new credit
• Increases in account balances
• Changes in account status, such as a missed payment
• New activity on accounts that were inactive
• Newly listed public records, such as bankruptcies, court judgments, and tax liens
• Newly listed collection company records
• Changes to public records and collection company records
• Changes to the name listed on your credit report
• New addresses or phone numbers

If any of these changes have occured, you'll be notified if there's a score change, along with the associated alert. SW never provided a weekly score, but many of us have been calling for them to provide that. I know if I saw a weekly score and if there was a major change (other than utilization) then I would spend more $$ to buy another report. My 2 cents.

Now there's a couple things you can do to tweak it. Change the settings to pick up on balance increases, rates, etc. which, if a change occurs, would force SW to monitor and alert you to any score change (e.g. you pay off 50% of your CC debt....SW will alert you to balance decreases and thus a new score).

Per your collections, paying off a collection agency will not increase your score at all. In fact, in some cases, it could decrease your score. Unless these update, you wouldn't receive an alert at all because the score would remain the same.

[valley_man0505]

llecs--I think there may actually be some major issues with SW right now based on what I have seen with my own account.  I have had SW for more than 6 months and was happy with it up until the past 2 months.  In the past month and a half, it has failed to alert me to point increases of about 50 points, 20 points, and 8 points.  In each, my score target was always set to 1 point over my current score.  For the 1st two times it missed (the 50 and 20 point increases), the only reason I got my new score is by spending money for a new score report.  The last 8 point gain was missed over a week ago.  I ordered my score direct from EQ website to see this point gain after my judgment was deleted and my recent CC pay-down was reflected.  SW still has not alerted me to that.

There have been a lot of similar complaints voiced here lately, so I am giving serious consideration to cancelling.  I loved SW at first, but it has really been failing me lately.

[Barry]

Hello valley_man0505,

If you haven't done so already, please contact myFICO Customer Support to have this matter looked into. They can also cancel your SW subscription for you, if that's what you choose to do.

Good luck!