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CalienteRoja

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Beware of Credit Karma accuracy for your scores -- Not likely to be true!
I have been working very hard on my credit for months, thanks to credit karma. I have seen my scores go from high 500s/ low 600s to EQ 705, TU 738 on CK. I run my EX directly with them, and my EX is 667. I have been applying -- successfully -- for new credit, and wanted to double check that my scores were accurate -- and they are NOT. Not even close. Real scores: TU 662, EQ 689. ???? That is quite a difference, 738 TU on Credit Karma vs the real TU of 662. I am lucky that the card I applied for pulled from my EQ which was still good enough to be acceptable.
I think this board is great, and some of the tools. But please everyone, be cautious and do your due diligence and get your credit reports straight from the source. Credit Karma should be ashamed of themselves. Credit score doesn't have to be exact 100%, but come on, 76 points difference?? That's crazy.

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WHAT IS REAL

Helpful to 8 out of 9 people

For the Vantage scoring system that CK uses it is VERY accurate, for anylender using the Vantage system.  Does this mean it gives the same score as a FICO 2 score, no.  Just as the FICO2 and FICO 28 scores are different.

Remeber that TU, EQ, EF are only data bases, they do not give a score.  A scoring system gives a score, and each lender will choose one of the +50 standard scoring systems, or even create their own (auto insurance is an example of non standard scoring systems).  When I went to buy a car the lenders said I had a score 40 points less than what CK showed with Vantage.  When I went to refinance my home the lenders where showing 30-40 higher than what I saw here.

Credit Karama(thereby the Vantage score) should only be used as tool to know if you are making good choices to help your credit rating.  Any imporvement here will help all scoring models, some maybe only a little and some maybe more than.

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Helpful to 2 out of 2 people

Credit Karma is a great site for reviewing your credit report and should only be used to moniter your report. The articles are very helpful if your trying to understand credit. It's another great way to compare credit cards. Credit Karma has the vantage score and the majority of lenders use the fico score. I noticed people saying their scores vary between the models, but noticed that my scores vary by about 10 points. If you want your fico score get it from a bank or the credit agencies. If you have certain credit cards! They post your fico score, except capital one (they use the vantage score).

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wow

I was looking at the same thing the other day when it came to my credit. Its a big difference from what EQ TA EX has!

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Helpful to 1 out of 6 people

Credit Karma is here to TEACH people how credit works and how to improve the credit score.  There is nothing here stating that this site is the absolute credit score site since (as pointed out in the articles) there are numerous ways of calculating credit scores.

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Lack of "due diligence"

Helpful to 2 out of 23 people

Are you Really that Clueless on Credit Scores?  You Surely did not do your "due diligence"

You have been here almost 3 years and have done NO READING TO UNDERSTAND the Different Credit Score models AT ALL!

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