Anyone else sick of Credit Karma's inaccuracies?

[Aprile421]

There is no way Credit Karma can even give you a close to accurate answer on what cards they think you have good approval odds for. They use a completely bogus credit scoring system than the credit card companies use so therer is no way they can tell you what cards you have good approval odds for.  That is proabably why you have better odds for different cards. I wouldn't be suprised if Credit Karma makes money from any applications people put through and that is why the say approval odds are better for some higher tiered cards maybe they get something from the actual credit card companies if the app is actually approved. It doesn't hurt them when you waste a hard pull it only hurts you.

[Anonymous]

No one should be using CK or many other CC "approval odds" type services IMO to determine their chances of being approved/denied for a card.

The best way to get the best possible idea of your approval/denial odds is to do your own RESEARCH.  Read threads on here as there are hundreds of people just like you that have applied for the card your are considering.  What type of criteria did the individuals possess that got approved?  That got denied?  Did you look at the credit pulls database to see what types of scores were approved/denied and other data points that go along with them? 

A solid hour of research is time well spent to know with 95% accuracy (I'd estimate) as to whether or not you'll be approved for a card.  I'd take that 1 hour + 95% accuracy combination over a 5 second + who knows accuracy any day of the week.

[Anonymous]

Last week my Fico scores all dropped between 5-15 points. I was confused as to what caused it. Fico alerts weren't really tied to any cause. So I logged onto CK and saw that two mortgages had aged off my reports! They also were showing my scores had gone up by 100 points! WTH? So yeah, great for the credit report info but completely off on scores lol.

[Anonymous]

I actually stopped looking at my scores there for the very reasons stated.

[Anonymous]

When I pay zero dollars for something my expectations are equally set the same.

[Anonymous]

Right on. If I were you guys I'd demand a FULL REFUND for their bogus, inaccurate, wrong-score-model, FREE credit information site.

Here's the cold hard facts: CK is NOT FREE. 

Yes, I said it. It's NOT FREE.  What you are giving them in exchange for valuable insights into your credit is YOUR IDENTITY.  Yep, you SOLD them your identity for advertising and whatever other purposes they have in mind.

Here's what it's good for -- to supplement your insights into how the credit companies see your credit profile. 

Honestly, the biggest use I get out of CK is seeing when something has fallen off of a report.

[thom02099]

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@Anonymous wrote:

First, the lack of an accurate credit score. 

Second, the inconsistencies and lack of common sense from the site's algorithms apparently. 

1. My approval odds for "Capital One Quicksilver One," are poor, yet my approval odds for "Capital One Quicksilver are "fair." Okay? How does that make sense. 

And then of course, most cards are listed as "N/A" approval odds for some reason. 

Starting to distrust CK more and more. The site seems to get worse instead of better... Especially with the credit score simulator. 

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It is accurate for what it is.  To say it is not, would be incorrect. Their reporting is well known to differ from that of Fair Isaac.  Doesn't make them wrong, makes them different.  They are reporting a score that may or may not be useful to you.  You don't find it useful.  Fair enough.  Don't use the site.  

[Anonymous]

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@thom02099 wrote:

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@Anonymous wrote:

First, the lack of an accurate credit score. 

Second, the inconsistencies and lack of common sense from the site's algorithms apparently. 

1. My approval odds for "Capital One Quicksilver One," are poor, yet my approval odds for "Capital One Quicksilver are "fair." Okay? How does that make sense. 

And then of course, most cards are listed as "N/A" approval odds for some reason. 

Starting to distrust CK more and more. The site seems to get worse instead of better... Especially with the credit score simulator. 

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It is accurate for what it is.  To say it is not, would be incorrect. Their reporting is well known to differ from that of Fair Isaac.  Doesn't make them wrong, makes them different.  They are reporting a score that may or may not be useful to you.  You don't find it useful.  Fair enough.  Don't use the site.  

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Thank you for your opinion. Now please go ahead and reply to the rest of my post. 

[Anonymous]

Free access to complete credit reports from EQ and TU updated weekly. Yeah, damn, they really suck.

[Anonymous]

I don't even hate on them anymore. you guys compare each other's real fico scores and have a hissy fit when you are denied. I've done it myself! It wasn't really a hissy fit… I cracked open another beer and got mad at myself for another hard pull at 1AM. True story.