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girlsamurai

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Why does my credit score show a negative?
About a year ago I signed up with Credit Karma. I have never owned anything so I never established credit, however, my score was about 524. A year or two later (currently) I purchased my first car that I would be making payments on, in hopes to get my score higher. At the time of buying the car I check my score, 524. I purchased the car about three weeks ago and at that time I also disputed a medical bill on my account. I just got on today to check the status of my inquiry and now my score says "0 n/a" and I see a -524 next to it. How the heck did it drop 524 points in three weeks?! I didn't even do anything!

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ALSO, I contacted the credit company about something else that had popped up on my report incorrectly as a hard inquiry so I asked them why my score was at 524 and now it is a 0. They said that it was never at 524 and to them, I am a 0 because they have no record of me. So, did Credit Karma just mess up the score? They say they get their scores from the company and the company basically said that Credit Karma's scores are not accurate.

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You have a lot of things to read up on here. A quick run down, there are different scoring systems, your lender used a version other than the Vantage scores that credit karma provides. Most lenders use a version of FICO scores. Credit Karma is NOT a credit bureau and does not set your scores. No lenders use credit karma to get info on you. When you applied for the car loan you most likely got a Hard Inquiry, that can ding scores. The score that you had before was probably due to the collection being on your report, it had to been since nothing else was on your reports. When you disputed the collection it must have been removed, either for the dispute process or the dispute was found in your favor. No collection on your reports, means no accounts on your reports, resulting in a zero score. Please do some reading on credit, understand that your auto loan may not even be reported to any or all credit bureaus. Study this stuff so you can someday have good credit. Any quesitons along the way, feel free to ask.

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