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Question By
mawio06

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credit score and rating is crap - 49% utilization, +72 age accounts, 0 negative items ever? poor???
This credit score or grade is pretty much worthless but it is good for tracking activity. The credit karma score was more than 100 points lower than my actual score when i refinanced I'm not sure what they are using in the formula but i'm glad I'm not paying for the service! I recently refinanced and found my scores were 100+ this sight, maybe it is supported by lenders that take advantage of people with poor credit. I have over 11 years of credit evaluation and lending + a degree in finance.

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So you didn't read anything about Credit Karma when you signed up or you would have known that the purpose of this site is to teach people about credit and help them learn how to build a good credit score.  And the site is FREE (to us).

However, it does cost money to set up and maintain an Internet site and the money for that purpose is provided by the advertisers (credit card companies) on this site.

The Credit Karma score is not supposed to be THE credit score banks would use in granting credit but a reasonable approximation for each member to use when utilizing the financial tools here. 

I, personally, utilize common sense in deciding which credit card I might wish to apply for and have never taken one of the recommended ones here.  My credit union pays better and charges less.

FYI--a degree doesn't mean someone is well educated in credit usage, as my life experiences have proven.  I learned a lot from this site, my credit score rose and I was trained in accounting, management and taxes.  How to use credit was never in the curriculum.

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