10-02-2012 07:20 AM
I have been signed up for creditkarma for a month now and I know the score is off but I do like that it lets me know when I have an inquiry or new account opened. I just opened a creditsesame and was wondering if they do the same things as far as alerting you of new accounts/inquiries? I did not see it anywhere but I could have overlooked it.
10-03-2012 01:36 PM
Credit Karma has the option for a daily pull which you trigger, and as such you get much closer tracking of balances and what not assuming your TU report is up to date.
Credit Sesame only does a once a month pull, so the alerting function isn't as useful if it's there even at all.
The scores are effectively useless with the possible exception of the CK-provided Vantage Score, but I use both services for simply tracking my report data... if there was a similar freebie service that used the EQ report data I'd make use of it too.
10-03-2012 10:33 PM
I use both of the too. They state they are for educational purpose only. I also use them for entertainment purpose only. Creditkarma you can at least update daily. Gives you a running idea of your credit dealings, just don't pay attention to the score. As far as Creditsesame, a FAKO and EX, no telling what it's going to say.
10-04-2012 12:42 AM - edited 10-04-2012 12:43 AM
CK scores are a bit off but not that much at least for me. About 20 points higher than my actual score.
Yeah but mine are 60 below. There's no rhyme or reason to it honestly, or at least no correlelation of even upward vs. downward swings with one's FICO score. Between that and the fact no lender uses it, there's no use in using the scores other than amusement factor. Even if they are close now, there's no guaruntee that'll remain the case in the future as I've had them move in opposite directions for the same action. CK's score is seriously wierd for everything we know about FICO honestly.
That said, I'm firmly of the opinion that it's the report data that matters: if you have a pretty report, you'll have a pretty score regardless of what particular algorithm is used; and when it comes to report data, CK, CS, and others, are just peachy.