Quote:
Originally Posted by TorqueDog
The Borrowell app is great for this, but keep in mind that financial institutions are only updating your credit file once a month for active accounts (usually EOM) so the real changes you're going to see intramonth are new hard credit checks, account closures, and otherwise minor fluctuations in the credit score. Over the last fourteen days, my score dropped one point for no discernible reason, then went up by three for -- again -- no reason.
Keeping an eye on the hard checks and any new accounts is important -- though, again, new accounts report EOM.
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In my case, the pending charges I was able to quickly fight and get rid of those without much hassle than pointing them out. But the ones that posted after 2-4 days of pending, those have to go through a long drawn out process. I agree that monitoring a credit report isn't very useful for something like that. Useful maybe if someone created large loan accounts or applied for a credit card with your info or something, but not for individual transactions.
The first charge posted because I didn't have the card on hand and hadn't activated yet, so it posted before I could see it in the portal. The second I'm successful in getting addressed because it's still sitting in pending, but the tokenization thing means I have to go forward down a card again. I have 4 CC and I monitor them weekly to bi-weekly. Maybe I'm better off down a credit card anyways...