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Posted in Auto Loans
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Question By
frw76

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Bank's cedit score differs from Credit Carma's report by 40 points

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The difference between the Bank and Credit Karma's score is because the bank is using one of MANY FICO score models and Credit Karma is using Vantage.   Just as three different banks will have three different scores because they use different FICO models to determine the score.   This is based on factors that they deem more important for their criteria.   Credit Karma is a tool to allow you to monitor and manage your credit, not an indicator of your true score.

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Reply by
faidros

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Also keep in mind that Credit Karma does not take your income into consideration as they do not have this knowledge.  The bank however asked about your income so they can compute your debt to income ratio as part of the FICO calculation.

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"Debt to Income" has NOTHING to do with credit scores. Beyond that, your answer was great!

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