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FrustratedwithKarma

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Your Program Is Crap
I paid off $28,000 in co-signed school loans in the past 3 months and this month, your credit Karma finally received notice of a $5200 co-signed school loan I paid off, in addition to my credit card balance going to $0. How does this happen and my score decrease vice increase. The program you run is total crap.

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Do your homework and research why. A credit score is based on how well you manage debt. It's based on the amount of debt ( not to exceed your debt to income ratio) Then it's calculated on the age of debt (new accounts don't give lenders enough history or proof if you are responsible enough to pay back a loan) Finally but not limited to the amount of debt you carry from month to month (you must have some type of debt to create a score) I know it sounds logical to say if I pay off all of my debt; then my score should go up. Not in some cases, you score goes down because you now have no debt to calculate a score card with. Finally, Karma only updates several times a month not instantly. So if you pay on something give it at least a month to reflect here...Good luck my friend.

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