amex007 wrote:Do any of you pay for any of the credit services like myFico or experian etc?
Or is the most reasonable approach to use credit karma since it's free?
Some use one, the other or multiple. You have to determine what's "reasonable" for you based on what you need/want and what you're willing to spend.
I only use monitoring if I'm really worried about apping for something and want to time the app exactly right but the last I time I did was back in 2013. Now I just use CK to monitor my TU and EQ reports.
EIDT seems to be one popular option mainly because of its low price and daily pulls. However, it typically takes them several days to get an account setup, the interface is kludgy and IMO they seem like an amateur/shady operation though I never had problems aside from the frustration over "daily" literally meaning every 24 hours.
USAA's CCMP is another popular solution but the standard offering doesn't include daily pulls. It seems to be popular because many have negotiated lower rates on daily pulls.
If you want FICO's from all 3 CRA's then you have to go with myFICO.
Don't overlook discussions on monitoring services here and on other credit sites as resources as monitoring discussions are fairly common.
I was thinking of maybe getting a no AF capitalone cc so i could use their free credit tracker that comes with their cards. Maybe a VentureOne or Quicksilver, dunno if it's worth it as I dont have a use for those cards..
Worth is always highly subjective. I wouldn't recommend selecting a card using such criteria but it's really your call to make. Keep in mind that CO's Credit Tracker provides a score using the TransUnion New Account model. IIRC no creditor uses that score in their credit decisions. CK used to use the TU New Account model as well but switched to VantageScore 3.0.
In general, you can't rely on a score generated by one model to determine the score generated by a different model whether you're comparing FAKO to FICO, FICO to FICO or FAKO to FAKO. Different algorithms will produce different results.
amex007 wrote:How do you like the capitalone? Can you see if there was any new activity under your name? Thats mainly what i'm concerned about.
myFico sounds good but its like $25 a mo.
Make sure you understand the alert triggers for any monitoring service you're considering. For myFICO:http://myfico.custhelp.com/app/answers/detail/a_id/463/~/understanding-what-triggers-fico%C2%AE-3-bureau-credit-monitoring-and-fico%C2%AE-identity
amex007 wrote:I hear amex is going to allow people to view their FICO score but not until a little later.
Be careful relying on just one FICO based on one CRA. Make sure you're aware of the CRA used as a data source as well as the FICO model used. Keep in mind that creditors use a number of different FICO models so if you're relying on one score it may not be the same as what a creditor pulls for you.
I get FICO's from Discover, FNBO and PenFed. They're all different models. Discover is FICO 8. FNBO is a FICO 8 BankCard. PenFed is a NextGen. IIRC they're from different CRA's as well. They're interesting to note but I really don't rely on them.