Score Watch

[AAAArt]

MyFico.com offers a program called ScoreWarch to let you know when your scores on any of the three reports goes up or down. Does anybody here use this?
I'm looking for a program that will tell me if my scores change, what the new numbers are and possibly the reason why.
I would like to subscribe to a service which tells me when they change, but doesn't make me buy new reports. I am really not very interested in TU or Ex proprietary models.
Thanks for any help. Art

[StaciMM]

The MyFico scorewatch ONLY monitors Equifax. I used it for a month, did NOT get regular updates. (I monitor all 3 of my reports thru Truecredit and can pull a new copy each day, so I know when things change.)

You can get the same product thru Equifax directly-they are related somehow to MyFico. I've heard that their updates are more reliable because they have direct access to the info.

It can be expensive to track FICO. There is no monthly monitoring of changes for TU or EX. My recommendation is to subscribe to Truecredit.com. The scores are NOT Fico's, but you can pull a new copy of your credit report every 24 hours. (So if you pull at 4:30 today, you have to pull at or after 4:30 tomorrow.) That is cheaper-and you can know when things change.

Thru truecredit.com, the subscription is $9.95/mo and you have to pay $29.95 for the initial 3 reports. There are ways around that though, and if you subscribe thru a link at Walmart.com its only $7.46/mo for the monitoring. (To avoid the $29.95 you need a login at Transunion.com. You may have one if you got your free report at annualcreditreport.com. If not, you can signup at freecreditprofile.com, then use the login to purchase thru the walmart.com link. Just have to cancel at freecreditprofile.com within 30 days to avoid paying an annual monitoring fee.)

[StaciMM]

PS-

From there, just check your Fico's every 3 months or so. You can purchase the reports using the discount code 'cppsavings' and get 20% off. Works out to $11.96/report I think.

[bkfiler]

when i signed up for walmart i still had to pay $24 somthing i think initially. you mean to tell me you got around paying that?

aaart, there is no real way for us to monitor changes in the credit scores. the score is calculated once someone does a pull. and the cheaper way for us to get the best idea of our scores - even if they are not accurate - is to use truecredit via the walmart link for a few buks less. you can pull them once per day and see what you got. - its really the best way we have all found to track it daily on the cheap.

[StaciMM]

Yes-I only paid the $7.46 for monitoring.

TC is good for staying up to date on changes, don't rely on the score. It could be very different from FICO. But-if you concentrate on fixing what is in the credit reports, that should be good for FICO in the long run.

when i signed up for walmart i still had to pay $24 somthing i think initially. you mean to tell me you got around paying that?

aaart, there is no real way for us to monitor changes in the credit scores. the score is calculated once someone does a pull. and the cheaper way for us to get the best idea of our scores - even if they are not accurate - is to use truecredit via the walmart link for a few buks less. you can pull them once per day and see what you got. - its really the best way we have all found to track it daily on the cheap.

[bkfiler]

oh my god. you are telling me i paid 24+ for nothing?

you mean i could of gotten the same thing for my 7+ that i pay each month anywyas?

i am getting the 3 reports pulled each day and their faco scores too. you are getting the same damn thing?

oh now im P. I. DOUBLE SS I. E. D!

please tell me what im getting is something different or im gonna cry!

i did get the 24+ charge only the first month and didnt have to pay the 7+ until the second month.

[StaciMM]

Yes-I'm pulling all 3 reports & scores daily.

So, its not really $24+ that you're out. (I paid $7.46 to start, repeat every 30 days.) Sounds like you have been pulling for more than a month. Have your old Transunion inquiries gone away yet?

[bkfiler]

oh my god im pissed. im out 16+ bucks cuz you dont tell me how to save money! its YOUR fault!

im sot sure, i dont pay that close of attention. ive had it less then 30 days so far actually. my orchard card inquiry went on there and thats all that i see changed. that caused my score to go back up 16 points.

well if you can maybe its best to explain to the folks in step by step detail how to get the stuff we got and pay as little as you did. i was kinda confused about what you did.

im bummed, thats 16 less bucks i can spend on myself for the rest of my life

[Lightning]

Paying for a service to give you an updated score on a regular basis is a complete waste of money. There's absolutely no benefit. You only need to know your score when applying for a loan, and those of you who just filed bankruptcy obviously aren't going to be jumping into debt again. That would be pretty stupid, wouldn't it. You already know your score is bad, so unless you repeat your previous mistakes, it'll only go up.

Instead of paying to watch this "magic" number rise, why don't put that money in something us financially savvy people call a "savings account". If you still have a checking account and haven't screwed over your local bank, you can talk to them about opening one of these accounts.

[bkfiler]

did you guys hear something?

ok then my bad. thought i heard something. never mind.

[Lightning]

That noise you heard was the sound of moths flying out of your wallet.

[Kam]

chirrrrrup chirrrruuuuup

[AAAArt]

Paying for a service to give you an updated score on a regular basis is a complete waste of money. There's absolutely no benefit. You only need to know your score when applying for a loan, and those of you who just filed bankruptcy obviously aren't going to be jumping into debt again. That would be pretty stupid, wouldn't it. You already know your score is bad, so unless you repeat your previous mistakes, it'll only go up.

Instead of paying to watch this "magic" number rise, why don't put that money in something us financially savvy people call a "savings account". If you still have a checking account and haven't screwed over your local bank, you can talk to them about opening one of these accounts.

Lightning, I always read your initial posts. They are true and can be helpful, even though your tone is often brusque and demeaning.
On this particular you are entirely correct and entirely wrong.
First of all, I was the original poster and all that I asked about was info. on how they worked and what services they provided. The only cost was out of my "time bank" and at this point in my life I have plenty of savings in that. In case you think I am just wasting my time, I fine tuned my resume today for a 3rd interview for a job which it looks very likely that I will get/had 3 medical appts., got my hair cut, at a conference with my atty. and my acct. which wound up saving me $5000 over the next 13 months and did several other things.
Second...You are entirely correct that it is a useless expense if just done for curiosity's sake. It can become habit forming and not much changes day to day. We could save that $7.66 a month for 7-13 months until one of those "bank places" would allow us to open a savings acct. OTOH, if we are prop. budgeting and scrimoing in other areas, $7.66 a month is not outrageous for entertainment, peace of mind, etc.
Third...You are entirely wrong in that saving our money always yields a higher return than spending it on credit scores. Rebuilding our credit (and yes I know that the best and surest way to do that is to pay our bills on time), can literally save us thousands of dollars in interest on essential purchases down the road, such as a home or vehicle.
I am doing "free" research among my friends and colleagues in an attempt to find the least expensive and most effective to make certain that my credit scores are the best they can be as soon as they can be. BTW, I did declare BK due to a physical problem and being forced to be on medical disability. I qualify for that full amount through May, but am looking at a job that initially I thought would pay the same amount (it turns out it will be worth about $10,000 a year more) just to keep from taking disability payments from my former employer's insurance and I re-affirmed my car loan w/ GMAC that I have at 0% int, so I did have good credit and am working hard to get it back.
In Tai Chi, they have a principle called "investment in loss" It means that to move off of a plateau and improve, you must sometimes get worse first.
In business, they use terms like "investment capital". "venture capital" and start up costs.
I am willing to spend some of my very limited capital in order to expedite the time frame when I can again get 0% int. loans and be considered by prime lenders. I am aware that time and payment history are the biggest factors, but I also know there are things which I can do to erase "innacurate and/or erroneous items on my reports. I am willing to spend some money in order to save much more money in the future.
The difference between is that I am able and willing to see more than one side to an issue and that I know that I do not know all of the answers and am willing to research and study to find out the best and most cost efficient methods.
You sometimes/often treat us all as if we are morons. I am not and neither are most of us. Yes, many/most/all of us have developed some less than perfect financial habits, but we are working on correcting them. I believe that with your knowledge and "other side of the coin" thinking that yoou could be of tremendous value. Too often though, you are the one taking the easy way out and spouting forth "sound bites" rahter than thought out advice. Why not try to actually use your experience and knowledge to give more helpful advice?
In my mind, we are going to war against everything that led us into the Bk trap and to restore peace to our financial kingdoms. Ancient literature states that only a fool would go into battle without first counting the cost. To not ask questions and seek info would be "not counting the cost" and make us fools...which we are not.
Beat wishes, Art

[AAAArt]

Why is it that every time I start a thread that bkfiler and Staci hijack it with their bickering??? Art

[StaciMM]

We weren't bickering! I answered your question, and BKFiler found out I paid less than he did and he got a bit miffed. (And then Lightning joined the fray.)

You made a great post by the way!