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New Contributor
tisch0791
Posts: 57
Registered: ‎03-31-2012

Credit Karma accurate?

I wasn't sure where to post this, but does anyone know if the scores found through Credit Karma are truly accurate?  I see they supply a transrisk score and a Vantage score. 

Established Contributor
demi
Posts: 858
Registered: ‎09-18-2007

Re: Credit Karma accurate?

My understanding is they are not accurate.  I use them more for a trending pattern.


Starting Score: EQ 679, TU 697
Current Score: EQ 680, TU 672
Goal Score: EQ 720, TU 720


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Moderator
Revelate
Posts: 8,322
Registered: ‎12-30-2011

Re: Credit Karma accurate?


demi wrote:

My understanding is they are not accurate.  I use them more for a trending pattern.


+1.

 

The Vantage score is the only remotely "worthwhile" score there in the sense that it's used by a very, even extremely, limited number of lenders.  That is better than Transrisk which isn't used by a single lender at all and is strictly provided for educational purposes AFAIK.

 

The value in Credit Karma and similar sites (Credit Sesame et al.) is the ability to access most of the information in your underlying credit report.  Since if you have a good credit report, a good credit score will naturally follow, it's a worthwhile service to use for monitoring; however, you can and arguably should ignore the scores... any similarity to your actual FICO scores is pure luck.  In my case my score on CK has barely even moved as my actual FICO EQ Beacon 5.0 score (found here and one or two other places) has increased 80 points in the past 8 months.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Member
delite11
Posts: 16
Registered: ‎07-28-2012

Re: Credit Karma accurate?

No.

 

My first inquiry a few weeks ago:
CreditKarma - 603
Actual TU - 512

Actual EQ - 563

Most recent inquiry a week ago:
CreditKarma - 654
Actual EQ - 603

 

I use it for trending, but actual numbers are way off..

Frequent Contributor
ShiningDown
Posts: 316
Registered: ‎08-12-2011

Re: Credit Karma accurate?

I just paid for my fico transunion score 8/26th on fico.com and my fico score was only 2 points higher than my creditkarma score.   


CK transrisk 667/ June (Vantage 733/June) (Credit.com 695 / May
Walmart 672/June.....686/July Equifax 7/6 686
credit sesame 725, June 2013
Quizzle 680 Sept/ /2012 696/March
Valued Contributor
Duncanrr
Posts: 2,841
Registered: ‎06-08-2012

Re: Credit Karma accurate?

My CK score is like 60 pts lower than myfico score.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007

Re: Credit Karma accurate?

There are so many scores now I have no idea who uses what for which  :smileysad:

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And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Valued Contributor
jsucool76
Posts: 2,770
Registered: ‎12-11-2011

Re: Credit Karma accurate?

My CK score is the same as my walmart TU08, but I don't know if that just happens to be a coincidence or what. :smileyvery-happy: 

Wallet: Capital One Cash Rewards 3500CL, Wells Fargo Cash Back College Visa: 900CL, Paypal Smart Connect: 1286CL, Walmart Discover: 2000CL, UPromise Mastercard: 1000CL, Chase Slate: 500CL, Discover IT: 2000CL, Citi Forward: 1500CL, Bank Of America Student Travel Rewards: 700CL
Regular Contributor
ACsteel
Posts: 226
Registered: ‎08-19-2012

Re: Credit Karma accurate?

Your FICO scores are what most lenders look at, and you can get your TU and EQ fico score from myfico.com.  Most other sites give their own rendition of a score mostly referred to in this forum as FAKO.


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EX FICO | 2014 - 3 - 1 | 793
Moderator
Revelate
Posts: 8,322
Registered: ‎12-30-2011

Re: Credit Karma accurate?


jsucool76 wrote:

My CK score is the same as my walmart TU08, but I don't know if that just happens to be a coincidence or what. :smileyvery-happy: 


Coincidence.

 

We have to keep debunking this over and over :smileywink:.  Transrisk is not developed by FICO, nor is it used by any lender in the known universe.  As such, it is of dubious value for an instant in time score, and debatable for tracking purposes either.  In my own case my FICO has gone up and CK's been going in the opposite direction over the last six months, which is pretty ridiculous in thinking about it what it could be tracking.  Heaven forbid someone actually establish some positive payment history.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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