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Posted in Credit Karma
Has Credit Karma helped anyone improve their score?
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Question By
Chase84

12 Contributions
2 People Helped
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Most Helpful Response
Helpful to 37 out of 38 people

If you follow the advice they give and improve on the areas of your report card, sure.  Why wouldn't it?

They basically tell you where you as a consumer are lacking in your credit file and give you basic advice on ways to improve your score. 

If people can claim this site don't help them, then there just not applying the info they receive here.  You can lead a horse to water.. but you can't make him drink so..

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Response by
Klien

73 Contributions
60 People Helped
Helpful to 15 out of 16 people

You realize those are simply ads, not advice. There advice is in the articles. The ads are what makes their service free.

Word to the wise to all on this site, Credit Karma is GREAT for advice, but any time you apply for something via an ad on here, you are probably going to regret it because you are likely permissing a hard inquiry on your credit. Don't apply for more credit cards if you have a substantial number of inquiries already. If you have a CRAZY APR... then maybe do it if it can save you substantial $$, but that does not mean your credit will be helped. If you are loking for Cost/Benefit anaylsis help in the whole credit balance transfer idea, I'd suggest you use the "Snowballing" calculator on whatsthecost.com

Credit Karma can't help you save so much as they can help you hone in on the weak areas of your credit score. When you "Update" your credit score report on Credit Karma, it is a soft inquiry and will not hurt you.

Reply by
maryjeanc7

1 Contribution
15 People Helped
Helpful to 9 out of 11 people

Personally, I would use much caution before simply following the advice they offer in your personal credit section.

If I followed their advice, I would "save" money on my auto loan by paying less each month, but for 72 months rather than 36, at 6.6% instead of 5.6.  Hmmmmm

Next, I could also "save" by apping for a capital one card at 17.9% interest, instead of keepint the ones I have which are 9.9, 11.3 & 12.9.  That sounds like a hell of a deal!  (not)

If you follow the basic rules of keeping your credit card balances low, not applying for credit that you don't need, and keep an eye on your reports to be aware of any unknown charges on your cards & ID theft....then your reports will be looking great & in time, even any negative marks will age & fall off.

I get my credit information from a broad range of places.  Mostly from the myFICO forums, Suze Orman & Clark Howard.  Here...not so much.  CK even says my insurance score is just "medium".  I have full coverage w/geico...100/300k coverage, towing, loaner car, all the bells & whistles with a $250 deductible... $225 per 6/mo.   That sounds a lot better than MID to me!

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Reply by
BungalowMo

70 Contributions
282 People Helped
Helpful to 1 out of 1 people

100% Agree with Klien. One thing that Credit Karma adds in value is a constant, FREE snapshot of your score and accounts all the time and going with you anywhere. Before I got credit karma I was just doing my 1 free credit report per year and making decisions based on that. Now, my wife and I can always make informed decisions on purchases and other big decisions by just logging in and having a look.

The community (which you have discovered obviously) also adds considerable value because many people are asking the same questions you are.

CK simply makes information more readily available to you when before, at least in my case, it was not. If you use the info, it can help considerably. If not, its no different than NOT knowing.

Reply by
kkuhl861

1 Contribution
1 Person Helped
Helpful to 1 out of 2 people

they said I would save money balance transfering 3k from my navy fed 8.9 apr to a chase 15.9 apr card plus transfer fees after rewards.......right.....pass

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Reply by
nbirnbaum2

243 Contributions
355 People Helped

And as I just found out, Credit Karma is NOT 100% accurate or even close, so even following the basic advice may not improve your score after all.

Reply by
dukegison

1 Contribution
0 People Helped

You can edit the details on your current cards, to show the correct interest rate.  That will help them in comparisons for savings.  The interest rates are not reported to them.

Reply by
BonnieBlueBonnet

1 Contribution
0 People Helped
Helpful to 17 out of 17 people

I had checked my score earlier last year and it was around 600, and now, with the advice and help and planning of credit karma, my score is around 725. 725 is the average by the way. I just used the most basic advice that CK has. And I am 23 and corrected mine within a year. Anyone can do it. Its how you apply yourself and your goals. I am still not satisfied with 725 either, I want over 800. 

Response by
joneserikg

5 Contributions
20 People Helped
Helpful to 17 out of 18 people

I've gone from 600 to 780...im younger and don't have a huge credit history but I applied for my recommended cards and got em...just be smart with your credit! Remember, CREDIT CARDS AREn'T FREE MONEY!! it's the bank's money...not yours, and they charge tons to use it...just make sure you're getting the better end of the deal...if you're paying an annual fee then you'd better be making a killing in rewards!

Response by
kbbaptist

2 Contributions
17 People Helped
Helpful to 3 out of 3 people

Yes, most credit card companies charge off the debt.  If you go to credit companies (transunion, equafax) and challange them, they wont respond and they take it off your credit.  I had 4 removed and credit went up 40 points immediately.

Reply by
DiscoFool

3 Contributions
3 People Helped
Helpful to 1 out of 1 people

Hello.  I am in the same boat as you.  I currently have a 601 and would like to raise it up to 780 (Gosh...that would be wonderful!!!).  I have credit card settlements on my history: ( But...am wondering if I can still raise my credit as high as yours.  Any suggestions?  How did you do it?  Thanks, Crystal

Reply by
crystalgoddess25

1 Contribution
1 Person Helped
Helpful to 0 out of 1 people

How can I raise my credit score if I already have a below 20% utilization (I pay off every month), and have a completely on-time report. My total credit limit is $10k; we also have student loans, mortgage, and 2 car loans. I am paying off 1 car loan this week, but have not seen any score increase in a long time, despite paying off all our credit card balances. My wife and I got new jobs this year and are making about $100k gross yearly income. She is stuck at 698, and I am stuck at 702.

Reply by
nathanmelvin

1 Contribution
0 People Helped
Helpful to 8 out of 8 people

My wife and I enrolled in CK before buying a house and it significantly helped us with our scores. It's likely we received a better interest rate as a result, but regardless we were happy to see progress on our finances because of the site

Response by
tapejm

4 Contributions
11 People Helped
Helpful to 7 out of 7 people

To spare you the details I've steadily used this site to improve my Credit score. I've noticed this site uses Transunion so I went and initially targetting my Transunion Credit report. I saw that there were some aged items and had them removed by disputing it. Additionally I've noticed one of my credit card companies is not reporting my main credit card which has a 20K limit, so my usage appears to be unusually high so I'm now in the process to dispute the credit limit on that card and hopefully that will significantly improve my score. According to the simulator it should increase it approx 20 pts. I will start looking over my other credit reports as well to ensure those items are reported correctly.

I don't necessarily agree with some of the advice, e.g. taking out a car loan when my current one is 0.9% to a 6.9% loan and something from 36 months to 72 months to reduce my monthly payment by $200. If I was in a desperate situation and strapped for cash I could understand how that would help someone have more cash, but obviously that doesn't necessarily affect my credit since I can make my current payments and have my car paid off quicker with less interest.

Beware of the credit cards offers. CK is free because it allows these banks & insurance companies to advertise their products to users. For many people each additional line of credit that you add reduces your score immediately and can drop you from the category of Excellent into Good or Bad.. so avoid that especially right before applying for a mortgage.  Keeping fewer longer lines of credit is beneficial because your average age of line will go up. Making payments on time is obviously the number 1 factor that reduces credit scores, so don't miss your payments. Set up autopays wherever possible to avoid missing payments.

Response by
shyamp55

2 Contributions
8 People Helped
Helpful to 6 out of 6 people

CK is a great tool. It is free and a lot of us here talk in plain language so it is easy to understand. I like CK reviews and users reviews of the credit product.

My advice would be use credit karma, free annual credit reports, mint for daily tracking of the finances and flyer talk for good mileage offers.

I see the credit as an unneeded body weight. We ate all those readily accessible fatty and sweet stuff (credit card, loans, etc) over the course of years, now we need to put it under control (no more over spending) and then to gradually decrease it (and improve the credit score). It cannot happen overnight, but with a right discipline we will get there.

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Response by
DragonBoss

13 Contributions
49 People Helped
Helpful to 5 out of 5 people

CK was a big help to me. by being able to check my reports easily, I knew at a glance what the 'problem areas' were on my bureau file. When the economy tanked after Y2K, my scores went from the mid 700's to under 500, in a matter of a year. I had defaulted on EVERYTHING and was flat busted broke.  

after a whole lotta time, and many letters to creditors and the bureaus, I was finally able to get the last bad line off my reports, by 2008. by 2009, I was able to get a new card thro cap one, and now by 2011, i now have my scores back over 700.

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Response by
matman1490

747 Contributions
345 People Helped
Helpful to 5 out of 5 people

I went from a 515 to 747 with the help of CK, but it was turing id theft recovery.

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Response by
nbirnbaum2

243 Contributions
355 People Helped
Helpful to 2 out of 2 people

How long did that take?

Reply by
Hakima23

5 Contributions
5 People Helped
Helpful to 5 out of 5 people

Yes by over 50 pts... They provide of lot of useful suggestions, resources such as the credit score simulator, and beign able to see the effect of your score after different actions real life so to speak is educational.

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Response by
ladald

359 Contributions
56 People Helped

Me too.  I hadn't really understood how the credit card utilization computations was badly damaging my credit rating.  I took their advice and my score went up 30 points in 6 weeks and I expect another bump in the next report due to more CK advice.

Reply by
g4g

1 Contribution
0 People Helped
Helpful to 4 out of 4 people

This site must have ads to turn a profit as they don't charge us anything for use of the site. That one ad tab on this whole website aside, this website is wonderful and has loads of really great info. Thank you CreditKarma! 

Response by
wendyinohio

1 Contribution
4 People Helped
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