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What is equifax score watch is it worth the purchase? how often does it show changes in your credit score? Iam looking to purchase a new car and want to increase my credit score a little.
how often is your score updated with score watch? Is it once twice yearly every thirty days?

3 Thoughts on Equifax credit score watch?
  1. Reply
    CIC
    November 25, 2011 at 12:12 pm

    It is a waste. You can pull FREE credit reports from all 3 bureaus once per year. I pull 1 of the 3 every 4 months to check for errors/fraud. I don’t give a damn about my credit score b/c I am on my way to being TOTALLY DEBT-FREE & I quit borrowing money years ago.

    Btw, you don’t need credit to purchase a new car. Reputable dealers take cash. I have never had someone actually look at a stack of $ 100s & say, “No, thanks.” Also, new cars go down in value “like a rock”. (Even Chevy thinks so…he,he,he). Buy a slightly used car from an individual. That is what I do & so do a lot of millionaires.

    If you are serious about getting your financial act together, get a copy of the book below. It will teach you how to get out of debt, save money, build wealth & retire w/dignity. It has worked for us.

  2. Reply
    jess_offramp
    November 25, 2011 at 1:10 pm

    It depends on how much you think it would be worth to you. I have the Triple Advantage from Experian and I think it’s worth it. They send an email everytime I have any change on my report from any of the 3 major companies…whether it’s as simple as an address update or more important like a change in my FICO score. My score is updated about once a month. Sometimes it takes 2 months for the update. I can print out a report any time as many times I want.
    If you’re just looking to check your report and FICO score to see how you might fair with interest rates for a new car, then just run one report from annualcreditreport.com. You will at least know what your current score is and what other positive and negative things are affecting it. It takes awhile for your credit to increase, so paying off or down something today won’t change it tomorrow.

  3. Reply
    BillK
    November 25, 2011 at 1:28 pm

    For buying a car Credit History is much more important than credit score. Often, the lack of credit history is equated with bad credit. You should be aware that lenders will go through your credit report once you apply for financing a new car. Therefore you should polish your credit report. Anyway, in order to establish a good credit history and at the same time risen your credit score in a short time do following things:

    1) Close all of your credit cards but one. It reflects in your credit report and it is a very good sign. For instance say that you have 5 credit cards with $ 1000 credit limit for each. Therefore you are responsible for $ 5000 of possible debt. But when you close 4 of them, now you are only responsible for $ 1000 of debt which lowers the level of risk of lending money to you.

    2) If you have any loan, like car loan or any balance on your credit cards, try to pay more than your monthly payment for 6 months or something. I mean say your monthly due on your car loan is $ 150, try to pay $ 250 each month. Lenders can see these trends in your credit report and they see that you’re a responsible borrower.
    If you don’t have such loans, I suggest getting a $ 3000-$ 4000 loan and paying it off in full in 5-6 months. You might pay $ 200-$ 300 of interest but you will save thousands of dollars in your loan and interest rates.

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