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Walmart CC + CreditKarma = poor man's TU monitoring service?

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Jutz
Valued Contributor

Re: Walmart CC + CreditKarma = poor man's TU monitoring service?

Ok, signed up for Quizzle, good looking site, nice features.  Can anyone explain however, FAKO or not, why my EX scores from CK and now Quizzle would be so out of whack with what makes sense?  I know scores vary and FAKO can be quite inaccurate, but CS has me at 661 FAKO, and now Quizzle has me at 685.  I do not consider these to be an accurate representation of my credit profile as I have a pretty realistic grasp on my credit situation.  My profiles at all three bureaus are identical, save a HP at TU from my recent Walmart card.

 

Edit: said CK instead of CS

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 21 of 30
distantarray
Established Contributor

Re: Walmart CC + CreditKarma = poor man's TU monitoring service?

FAKO is a huge business, and everyone can make their own version as a marketing tool. Most are based of Fico but even the Fico president doesn't hae a 800 score so there's things he doesn't understand or care about either.Remember FAKO is just a guess estimation of your Fico, not that Fico is the only thing lenders use but majority of the time it's still true. Which seems like it's changing more and more these days. you only really need to know your Fico is before a big purchase. Just don't make stupid credit decisions and keep everything in check and especially if you have nothing bad on your reports knowing your score becomes irrelevant. just free credit monitoring through sites like creditsesame and creditkarma would be enough even though it's only 2/3 bureaus since they use your middle score for a mortgage all you need to really know is 2 out of the 3. Take the lower of your two scores and that's the number you should get a loan on worst case scenario, or the higher number in your best case =)

 


@Jutz wrote:

Ok, signed up for Quizzle, good looking site, nice features.  Can anyone explain however, FAKO or not, why my EX scores from CK and now Quizzle would be so out of whack with what makes sense?  I know scores vary and FAKO can be quite inaccurate, but CS has me at 661 FAKO, and now Quizzle has me at 685.  I do not consider these to be an accurate representation of my credit profile as I have a pretty realistic grasp on my credit situation.  My profiles at all three bureaus are identical, save a HP at TU from my recent Walmart card.

 

Edit: said CK instead of CS





total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 22 of 30
brother7
Established Contributor

Re: Walmart CC + CreditKarma = poor man's TU monitoring service?

@distantarray wrote:

even though it's only 2/3 bureaus since they use your middle score for a mortgage all you need to really know is 2 out of the 3. Take the lower of your two scores and that's the number you should get a loan on worst case scenario, or the higher number in your best case =)

 

Nice explanation of this!

 

Best Case Scenario:

  • Unknown EX FICO
  • Known FICO <- this is the middle score used for mortgage qualification
  • Known FICO

Worst Case Scenario:

  • Known FICO
  • Known FICO <- this is the middle score used for mortgage qualification
  • Unknown EX FICO

 Additional Scenario:

  • Known FICO
  • Unknown EX FICO <- this is the middle score used for mortgage qualification
  • Known FICO


04/01/2020 - EX 849 (Credit Scorecard EX FICO® Score 8, range 300-850)
02/20/2020 - TU 850 (Discover TU FICO® Score 8, range 300-850)
03/24/2020 - EQ 884 (Citi EQ FICO® Bankcard Score 8, range 250-900)
GOAL - 800! - App free since 11/22/2017
Message 23 of 30
Jutz
Valued Contributor

Re: Walmart CC + CreditKarma = poor man's TU monitoring service?

Totally agree with focusing on low score as worst case, I guess I just don't understand how an approximation of FICO can be so off in two places.  I'll be interested to see my TU08 score from Walmart when my card finally comes in the mail.

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 24 of 30
Walt_K
Senior Contributor

Re: Walmart CC + CreditKarma = poor man's TU monitoring service?


@Jutz wrote:

Totally agree with focusing on low score as worst case, I guess I just don't understand how an approximation of FICO can be so off in two places.  I'll be interested to see my TU08 score from Walmart when my card finally comes in the mail.


That's because it is inaccurate to say that FAKOs are an approximation of FICO scores.  They are competing risk assessments, some marketed to lenders, some not.  They purposefully include different information and/or weight information differently.  So while they are both trying to predict risk, a FAKO is not necessarily meant to be a reverse engineered FICO.  Especially when you consider that some work on different score ranges.  In those circumstances, you would actually expect the scores to be different because the same numerical value would not equate to the same credit risk. 


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge
Message 25 of 30
crew99
Contributor

Re: Walmart CC + CreditKarma = poor man's TU monitoring service?

Hey everyone, still fairly new here so bare with beginner questions.....after reading all these I was thinking about getting a walmart card so I can get a free TU monitoring service.  But I'm reading all over their credit app on the website and it's not telling me the service comes with it.  Is it just a given with ANY walmart credit card?  Or a specific one?  I see a walmart discover and a walmart credit card.  Should I be applying online or in store or what's the best way to take advantage of the offer.

 

Thanks!


Starting Score: CK 658 12/4/12 | CS 658 12/4/12 | myFico(EQ) 696 12/1/12
Current Score: CK 725 12/1/14 | CS 775 12/1/14 | myFico(EQ) 753 12/2/14
Goal Score: 800 Dare I Dream??


Take the FICO Fitness Challenge
Message 26 of 30
brother7
Established Contributor

Re: Walmart CC + CreditKarma = poor man's TU monitoring service?


@crew99 wrote:

I was thinking about getting a walmart card so I can get a free TU monitoring service.  But I'm reading all over their credit app on the website and it's not telling me the service comes with it.  Is it just a given with ANY walmart credit card?  Or a specific one?  I see a walmart discover and a walmart credit card.  Should I be applying online or in store or what's the best way to take advantage of the offer.


Walmart cards offer a free TU08 credit score monthly but not TU report monitoring. For daily monitoring of your TU report, sign up for Credit Karma. I use Walmart + Credit Karma together to keep track of my status with TransUnion.

 

The free TU credit score offer applies to both the Walmart store card and the Walmart Discover card. To opt-in, you need to sign up for paperless statements. When you do, there will be a link when you log in saying "Check Your FICO Score Now". Everyone gets their score at the same time, on or around the 8th of each month.



04/01/2020 - EX 849 (Credit Scorecard EX FICO® Score 8, range 300-850)
02/20/2020 - TU 850 (Discover TU FICO® Score 8, range 300-850)
03/24/2020 - EQ 884 (Citi EQ FICO® Bankcard Score 8, range 250-900)
GOAL - 800! - App free since 11/22/2017
Message 27 of 30
crew99
Contributor

Re: Walmart CC + CreditKarma = poor man's TU monitoring service?

Thanks brother7 for the detailed response!

Is there advantage getting one walmart card vs the other?  Or most ppl just get it for the free TU?

I kinda want to apply just to start monitoring......but from creditkarma I have a 658, even though my equifax is a 696.  A little hesitant to apply in fear of being denied and losing an inquiry....what do you guys think?

 

and what is CS?


Starting Score: CK 658 12/4/12 | CS 658 12/4/12 | myFico(EQ) 696 12/1/12
Current Score: CK 725 12/1/14 | CS 775 12/1/14 | myFico(EQ) 753 12/2/14
Goal Score: 800 Dare I Dream??


Take the FICO Fitness Challenge
Message 28 of 30
brother7
Established Contributor

Re: Walmart CC + CreditKarma = poor man's TU monitoring service?

The Walmart store card is accepted ONLY at Walmart.

The Walmart Discover card is accepted whereever Discover cards are accepted. For that reason (wider acceptance), I chose the Walmart Discover card.

 

CS = Credit Sesame

It gives you a monthly FAKO, not FICO. Experian National Equivalency Score (360-840). There are no daily updates, nor much detail about what's on your report. So people basically log in every month to check the EX FAKO. I guess it's ok for tracking trends but not much else. The monthly updates normally happen early in the month, 4-6th. My December update came out today... down 34 Smiley Sad



04/01/2020 - EX 849 (Credit Scorecard EX FICO® Score 8, range 300-850)
02/20/2020 - TU 850 (Discover TU FICO® Score 8, range 300-850)
03/24/2020 - EQ 884 (Citi EQ FICO® Bankcard Score 8, range 250-900)
GOAL - 800! - App free since 11/22/2017
Message 29 of 30
awal
Regular Contributor

Re: Walmart CC + CreditKarma = poor man's TU monitoring service?


@brother7 wrote:

The Walmart store card is accepted ONLY at Walmart and Sams Club.

The Walmart Discover card is accepted whereever Discover cards are accepted. For that reason (wider acceptance), I chose the Walmart Discover card.

 

CS = Credit Sesame

It gives you a monthly FAKO, not FICO. Experian National Equivalency Score (360-840). There are no daily updates, nor much detail about what's on your report. So people basically log in every month to check the EX FAKO. I guess it's ok for tracking trends but not much else. The monthly updates normally happen early in the month, 4-6th. My December update came out today... down 34 Smiley Sad


Fixed!

Starting Scores: 
Current Scores:  
Message 30 of 30
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