313 People Helped
Member Since: June 2009
You're gravely mistaken if you ever thought CreditKarma gave out true FICO scores. It was always an estimate.
HeavySnarker's reply was:
This is among the best rewards cards. You get 1% cashback (CB) overall and 5% CB on rotating categories, including restaurants, gas, and holiday shopping. These are pretty decent categories, unlike ones given by Citibank's cards.
In addition, you can redeem cashback anytime starting at $0. Like Capital One, there are none of those ridiculous requirements to collect a certain amount of cash before redemption is available.
I use it in conjunction with my 2% CB Citibank Double Cash Rewards Card.
HeavySnarker's response was:
It's a decent Amex card with no annual feee. It's accepted at most locations, but there are some places that don't allow it. The rewards only give about $0.60 per point, which equals about $60 per $10K spent.
The sign-up bonuses were good, but the overall cashback rewards are meager.
PROs: - Excellent service
- You can buy event tickets ahead of time
- No annual fee
- Good sign up bonus. I received 1 years worth of Amazon Prime + 10K point, which is worth $60 or another year of Amazon Prime.
- Not accepted at as many locations as VISA or MC. Some restaurants and government services don't accept payment from Amex
- Terrible rewards. I'm getting an average of about 0.6% CB instead of the 2% CB I get from my Citibank card.
- I also can't redeem the point directly as cash. I need to spend it on gift cards, stores, or by wiping out past purchases. It's a hassel.
This is my favorite 5% rotating-category CB rewards card. Great categories. None of that minimum rewards for redemption BS found on other cards! It also provides a monthly FICO score. It's very convenient and lacks any major flaws.
According to their website, only 6 out of 10 of the largest banks have used it, so it's far from industry-adopted.
On the other hand, it's in your best interest to root for its success because it's one of the few scores that has a chance of taking marketshare away from the FICO monopoly.
Well this is surprising. Unlike everyone else here, my score only dropped 1 point between CK's earlier FAKO score and the current Vantage score 3.0.
On the other hand, it's still ~100 points lower than FICO 8 (3rd gen) scores provided by my Discover and Citibank cards. It's been over 2 years since CK's scores were anywhere near as high as my FICO scores.
You gave them 1-star review just for that?. It's not their fault. Many credit card companies have a 5/24 rule now. It's pretty standard.
You can pretty much predict every category based on the average age of users in that category.
You bring up good points.
One explanation is that we're probably seeing a huge amount of reporting bias in the comments. Users who notice a large score change will understandably be upset and visit this thread.
Users who don't notice much of any score change probably won't have realized that the algorithm has changed.
Just look at their ugly and useless website. These guys don't know technology.