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Bennygirl19

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Credit karma score was 100 points Higher than what the 2 bureaus show
I understand that there are many formularies to calculate a credit score. I have read through this site and see others have experienced a big difference between the credit bureau reported scores and ck. Most of the errors seem to be a positive outcome and pleasant surprise (ie - score ended up showing as higher than it was on ck). I worked hard to get back on track financially after filing bankruptcy 2 years before and was happy that I had gotten my score in the range of a decent apr %. I apply for a car loan and both of the bureaus who report to ck showed up 80 to 100 points lower than what is on ck! I can see a 25 point or so, but that way off? I still got the loan but at a higher interest rate. Even the loan officer said he hadn't seen it be so off between ck and the bureaus. Just thought I would throw this out there as an FYI so people won't be surprised like I was. There should only be one source of truth in credit score world, but I know that is crazy talk....that would make things way too easy and transparent. The world would probably explode if that happened! Is there a site that would show my credit report score that would be the same that a loan officer would see? Or at last one that would be closer? I do get good use from ck, but won't use it to determine my score. It still has many uses though, like tracking utilization, monitoring activity, etc.

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CK way higher than *real* pull???

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I have a similar problem in that my CK score is ALWAYS higher by a lot than what i see in a real bank pull. I have been trying for the last 4 years to qualify for a home loan program, but the minimum scores are 640-660. I was so thrilled when my CK score was finally 710 because I figured even with the varience in score, I should still be in the right neighborhood. WRONG!  When they did the actuall pull, imagine my shock when the middle score of the three bureaus was only 635! I was then told something very usefull by the home buying counselor that made it a lot clearer.

CK uses a credit card model for their score. Meaning its a similar score to what a credit card issuer like Capitol One or Discover would see. What the bank was using was a home loan model, which weighs things differently. CK wants you to go to their advertisers with a reasonable expectation, so they use the credit card model. DONT RELY on this site to give you accurate info if you are after a home loan! I wish they would be more forthright in telling their users what model they really use. It was heartbreaking to find how far I was off and almost made me want to give up.

End result is that although I have a 100% on time payment rating for the last 2-3 years and a good mix of credit types (3 personal loans [2 paid off],  2 car loans [one paid off], 2 credit cards with a fairly low percentage of use) I lack the length of time banks want to see. Due to a few late car payments over 4 years ago and some paid medical collections  the only solution for me is to either piggyback on someone else's good history (have asked my folks if i can become a co-signer on one of their credit card accounts for the added good history it would give me) or wait ANOTHER 3 plus years for some of the other mistakes and unavoidable consequences of working for a cheap-*** company that didn't provide real insurance to its full time employees to finally fall off my history. 

CK is alright if what you are doing is seeing score changes month to month and only compare the score to what the same score was previously, but its not at all accurate for doing something with.

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Generally, Its the other way around

I have found that the Vantage 3.0 score that CK uses is generally lower than my scores in other places.  My FICO is usually about 30 points higher than what I see here.

I recently made this mistake and was expecting a higher credit limit and lower interest rate when I applied for a new card to do a balance transfer.  I hadn't checked my scores else where and was very surprised. The creditor checked with Equifax and my balance info wasn't up to date there (seems none of my creditors report directly to Equifax, so info there is always a month behind)  so I missed out on the higher limit by a couple of points. 

Your right, It is a pipe dream that all scores would be the same. But you would think that all your scores would be in the same range.  Just goes to show you, that you can not rely on one source for your scores and to check multiple places before assuming that your good to go on a new account. 

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Excellent advice for others to keep in mind. I often see many people on here upset that their credit karma score is different from other scores. As you've already mentioned above, there are many different versions of your score and it would be great and make sense if there was only one. I will say that credit karma is a very very helpful tool to give you an idea of where you stand and what is on your reports. Now here is what I know so far:

For me Credit Karma is very accurate about what is on my Equifax and Transunion Credit reports. As far as the score numbers they are slightly off as I believe Credit Karma uses its own scoring method. Keep in mind that the scores on here, the scores you get directly from Transunion or Equifax are Vantage Scores, in all the reading that I have done it appears that Vantage scores really do not matter as most lenders use fico scores. I get my fico scores from myfico. They are significantly lower than the Vantage scores that I get here or directly from Transunion or Equifax. I currently do not have an Experian account but I believe that they may provide Fico scores. I also believe for an extra fee Equifax will give you your fico score with them in addition to the Vantage score they supply with your subscription.

My question to you Bennygirl19, is what did your lender use? Fico scores or Vantage Scores? It seems to be common for fico scores to be lower than vantage scores.

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difference

I had my credit pulled from Trans Union myself and it was 671. Here on this site it shows 571. from trans Union...No wonder it is free !!! Just saying.

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Not Accurate

I have been working on credit thru credit karma and got it up to 756/754 and just pulled credit from my Bank of America loan and its showing 636. Thats a huge difference. I hear alot of times that the CK is higher but rarely do I see someone saying its lower. I'm going to wait a month or two--maybe its a timing thing and the two sources will get closer together. Anyone have any insight??

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dragonflychic

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I meant to say that CK is lower but rarely higher than the actual FICO score.

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