12-21-2012 11:37 AM
Just for the hell of it I decided to log into Credit Karma (qhich I have not used since January 2011 apparently) and see what it said my score was.
Just for comparison:
Credit Karma 633
myfico EQ score 726
Also, I don't know if this has been posted around here but CK MUST use TU for their data.
12-21-2012 11:55 AM - edited 12-21-2012 11:56 AM
Oh, yeah...they do. Did you click "update score" so that it showed report as of 12/21/12? Or did it say score from 01/2011?
My CK score dropped from 680 to 667 after I paid off a card!
It reports I lowered my util and raised my available credit, and it still drops my score!~?
Nothing else on the report changed.
I can't wait to update myFico TU report later today to see the increase in score because I was expecting it from CK and didn't get it! Ha!
12-21-2012 11:57 AM
It does use TU.
12-21-2012 12:18 PM
12-21-2012 01:05 PM
I think CK's scoring algorithm weighs UTIL way too much. My score is always about 50 points lower than real life at CK and I've seen trivial payments bump the score significantly. It's a decent tool to see daily updated transactions on TU, and the price is right - free.
12-21-2012 03:59 PM
Just pulled myFICO TU and CK at the same time.
myFICO says 671. CK says 649.
Well, 22 points difference is not too bad, I guess :-)
12-21-2012 04:26 PM
Too few positive accounts??! Ha!
I thought loans close after you pay off but still report under satisfactory accounts, so long as no late payments?
FICO yes, CK's FAKO who knows . I suspect they only calculate off open accounts for nearly everything.
CK is completely useful as easy and pretty accurate access to your currently opened tradelines on TU; the scores though really should only be used for entertainment value as any similarity or disparity to your actual FICO scores is utterly coincidental. Possible exception to the enterainment factor for the Vantage score as that is actually a direct (but rarely used) competitor to FICO.
My own TU98 vs. CK is roughly 39 points off for whatever that's worth... and that's fairly recent too, it was more than 70 off two months ago but I've had some movement on CK's Transrisk score while my FICO scores have flatlined.