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DigDeep

NFCU just updated their provided Fico 9 score monthly. AR's now once a month?

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I just noticed NFCU updated my Fico 9 score two months in a row instead of every month. This may be a change to a monthly AR or just NFCU upping the benefit of providing the score to monthly. It could also just be a one time anomaly.

 

 

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I made a mistake in the first sentence. It should have stated:

 

"I just noticed NFCU updated my Fico 9 score two months in a row instead of every other month".

Edited by DigDeep
no coffee

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1 hour ago, DigDeep said:

I made a mistake in the first sentence. It should have stated:

 

"I just noticed NFCU updated my Fico 9 score two months in a row instead of every other month".

Fair Isaac allows free FICO scores whenever a creditor does an AR. Every time a free FICO is updated there is an AR provided to the creditor. It's often automated to occur at some interval or set to trigger on things like a new account reporting.

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I suspect creditors are getting a bit more nervous since CC debt has reached pretty high levels even though defaults and lates are still at relatively low levels even though they have crept up lately.

 

So they are just being a bit more cautious. No creditor likes to be late if and when things turn.

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So we have had three months in a row, Sept., Oct and Nov.  If this trend were continuing, would it have posted by now?  

Edited by pacemaker67

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Probably also connected to holiday spending. They want to see who may be a risk as we get closer to the end of the year. I've noticed most of my auto CLIs seem to happen this time of year. 

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4 hours ago, shadekitty said:

Probably also connected to holiday spending. They want to see who may be a risk as we get closer to the end of the year. I've noticed most of my auto CLIs seem to happen this time of year. 

It could be that in addition to wanting to up spending limits right before the holidays.  The boards were filled with people stating they had received auto CLI's in mid November.  I wonder if it was a one time thing or if they will do AR's and provide monthly FICO's going forward.

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To update, I again received a score for December.  This makes 4 consecutive months of scores from NFCU. It appears monthly pulls may be the new norm.

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It would be logical NFCU is now doing monthly AR. This phase of the economic cycle is starting to get long in the teeth, so to speak.

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