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I get to read my CR there, mostly accurate. Sometimes their utilization calculator doesn't work right. $6800 is not 8% utilization of $200k in CLs, as an example. I look there to see if accounts are reporting and my inquiries are mostly accurate.
@Anonymous wrote:Naturally im skeptical to believe in free things so I was wondering if CreditKarma was actually worth using or if there is some kind of downside to it?
Your call to make. Worth is higlhy subjective regardless of topic. CK is popular but not everyone uses it. I find it useful as it provides free access to TU and EQ report data with weekly updates. The VantageScores provided are not of any relevance unless you know you have a creditor that uses them but that caveat applies to any scoring model.
@Anonymous wrote:Yea i use it too for alerts but not for score , they say my TU score is 651 but my real fico is 680.
Keep in mind that you don't have jut one FICO for each CRA. There are a number of FICO models used by creditors. For most models you have a score with each CRA. See also the Understanding FICO Scoring subforum and its stickies. Don't rely on oversimplifications such as "real" and make sure you're considering the specific scoring model.
@Anonymous wrote:
Well... With all those hacking going on, don't you wanna minimize the risk of giving out your social security number unless it's absolutely necessary?
I really regret signing up for credit karma and other websites.
People have varying tolerance levels for risk. Each has to do what works for the individual.
@myjourney wrote:And sometimes you even get a laugh out of the alerts but hey it's a free service
My laugh this past Saturday true story I swear it...
They tell me an account has been removed ...I log in
2013 CC says is removed from CR's...Now mind you this is an active open account
Next box says:
An account has been added to your CR's
Guess what the same account they say was removed ....SMH Geez CK Lol
Next box says:
The same card is reporting a balance .....(true)
2 out of 3 ain't bad for alerts on free monitoring.....I guess
Shrugs ROFLOL
I don't think that it is CKs fault for that. There are times that this happens to me there too and what I have noticed is that there is a change, sometimes very small, to the name of the bank or something else. I have noticed it on Cap One accounts, Finger Hut accounts, and a few others. All were something with a change in the creditor. I think it happened when GE changed their name to Synchrony. Usually it is something like that that triggers it.
@Anonymous wrote:
If you have a capital one card, you're getting same thing as credit karma.
Uh, no. The scoring model used by Cap One is completely different, Cap One does not provide a complete report, and Cap One has only TU.
For me CK gives me a nice ego boost. They have my TU score at 700 where MyFico and CCT have it just crossing 600 at 601.
Now to find lenders that use the Vantage 3.0 score. Ha
A bit late to the party.
Credit Karma is legit in that it's not a scam and they do actually monitor your credit score. It's kinda like keeping track of your weight. When you do, you want to use the same scale on a daily basis. Using different scales may yield inconsistent results simply because different scales may be calibrated differently, or some may have not ben calibrated at all, or some may be damaged therefore shows incorrect readings. So what i'm saying is, don't look at your FICO Experian version 8 monday, then look at Credit Karma Transunion tuesday, then FICO Equifax version 4 Auto Enhanced on wednesday. If you decide to use Credit Karma, use them to track your progress to see if you're trending up or down. Don't use them for consideration of applying for credit, even their recommendations on the website.
I almost wish lenders used Credit Karma. My CK score is much higher, almost near the 800's. They're low to mid 700's on myFICO.