Why isn't MyFico updating?

[Anonymous]

On April 5, 2011, I paid off 100% of my CC debt and signed up for MyFico.com that day. My EQ credit score that day was 744. Obviously, this score does not reflect my recent payments.

As of today, MyFico.com has not updated any changes whatsoever. Yesterday, I pulled a report and score (722) from TU and it reflects some of my payments that I made in April. Why isn't MyFico.com reporting any of hese changes/payments?

On a side note, I have no late payments, delinquencies, bankruptcy's, etc.

Thanks in advance for your replies!

[llecs]

Did you sign up for a service in April for your EQ FICO?

[Anonymous]

Yes. I signed up to this site on April 5th and my last EQ report and score was from that date.

[llecs]

In other words, did you sign up for ScoreWatch ($14.95 monthly) or did you buy a one-time EQ FICO Standard report ($19.95)?

The one time reports do not update. It's a one-time purchase and a snapshot of your FICO score at that moment. ScoreWatch is a monthly service whereby you get two FICO reports per year and if your "Target Score" located in "Settings" in the SW bar is set exactly right, it'll update you to score increases.

[Anonymous]

I suscribed to Scorewatch, the monthly service.

[llecs]

Got it.

Do you know where your Target score is set at in relation to the score pulled then? SW won't alert you to dropped balances, however, it will alert you to any score changes that happened as a result of those lowered balances (if any score change occurred). Within "Settings", there is a field called "Target Score". Always, always reset that target score to EXACTLY match your last pulled score. So as you get alerts or you pull a new EQ FICO report, go back in and make that change. If the score matches, you'll get alerted if your score goes up or down. Unfortunately when I first subscribed, I made my goal, the target score, a bit too lofty. I set it at 800 and I wasn't receiving very many score alerts because my scores were in the 500s at the time it had not (or ever) surpassed 800. Conversely, if it is set too low, you won't get very many alerts if your score increased.

I recommend looking in your SW account for the "FICO score history" tab and see if there are any missed alerts. On seldom occassions my e-mail service will toss out a message or two. I'd also look at the score graph to see if there is any movement. Finally, if nothing appeared, I would pull a copy of your EQ report from anywhere just to see if there were any changes. Typically TU updates last, but I have a couple of TLs where my EQ updates last. And of course CCs only update 1x/month.

ETA....zapping this over to myFICO Product Feedback

[Anonymous]

Thanks for your help. I just set my score target at the last pulled score of 744. I looked and I have no alerts or noticications. I suppose I just wait and see what happens?

[Barry]

Hi baketress,

I'm thinking that you may have set your target score after your last score change, which won't help you get alerted to the next score change.  (hope that makes sense?)

To make sure you do get alerted to the next change, we've added a free report to your SW, so you can pull an updated score and then immediately (if it's changed) reset your target to that score.  Then continue to update your target score each time you're alerted to a new score change.  Good luck!

-Barry

[Anonymous]

Barry! Thank you so much!

[-Cain-]

Barry, I'm in kinda in the same boat, I called a rep over the phone and she said I had set my target score too high, so I probably wouldn't get an alert. I believe I had looked around before setting my target score but didn't see anywhere where it may have said to set it at your last pulled score. Is there a way to let future possible subscribers know to use that tip as far as score setting goes? Thanks for reading.