ACCURACY OF CREDIT KARMA ??

[Anonymous]

So it's safe to say that CK scores are not accurate and bear no relations to Fico scores? 

I will agree that the credit reports come in handy and anyone interested in monitoring their credit report would use CK for that purpose.  But, they are susceptible to errors.  I like the layout and the cool charts, graphs, etc..  And I leave it there at that.  

As someone else said, there should be huge disclamiers in the forums stating not to take CK scores seriously.  

[Imperfectfuture]

Well, they have all these advertisements representing truly free credit scores, and mortgages, etc. Newbies will come here much later after seeing that score, and their recommendation for lexis as the way to fix credit problems, alas.

[Anonymous]

My EQ score on CK is 565, but was recently denied credit and the denial letter stated my EQ score was 628. So Which one of those scores is actually correct?

[Anonymous]

The only truly 'correct' score is the one the creditor pulls. Creditors actually have a choice of scores they can pull - several different FICO 'general' scores, then there's auto enhanced, bank enhance, insurance enhanced, etc, etc...

Yes, its ridiculously confusing.

[creditstalker]

Yes it is very confusing @NormanFH

[Anonymous]

Though credit karma are all fako scores the reporting credit history is all correct for me. I also recently applied for 3 CC from CK and was approved on all 3. That's just my experience. Fico Scores were 650+ at the time.

[damnedanddetermined]

Credit Karma is once again AHEAD of MyFico.......I gained 18 pts on EQ and MyFico is still asleep!!  Grrrrr  Thanks Credit Karma!!

[Anonymous]

I agree with "StartingOver10", it is a awesome tool to monitor your EQ and TU credit reports, free of charge, updates weekly. The score is to be ignored.

[1Rebuilding]

With CK Vantage 3.0 scores older derogatories don't hurt you as much as in a Fico score.  The Vantage score doesn't look at a 6 year old derogatory the same as a 1 year old.  For someone like me who has a few bad things about to roll off my credit report with nothing derogatory in the last 5.5 years my Fico scores are way lower than my Vantage 3.0s.  (I mean over 150 pt difference 2 months ago).  They switched to this model knowing that a lot of people had misfortunes during our economic collapse that were beyond their control.  People are still being penalized harshly for older accounts that may not reflect what their current conditions are.  You  have to realize the Vantage score is a competitor of Fico and is used by some banks.  It was actually started by the 3 Credit bureaus as a joint venture.  The question is will it catch on more than the 8-10% of the market share that it currently has? 

[Anonymous]

I've had the opposite experience with Credit Karma.  Any lender I've gone through has reported a higher credit score than Credit Karma.  I applied for an American Express Everyday card (CK chances were "good") and was instantly approved.  My EQ score is 636 and my TU score is 643.  Read Amex disclosures, it stated that my Fico score was 676 --- they approved me for a $5000 credit limit.  I called them to see what the process of a CLI was and the rep told me if the card wasn't brand new it would have raised it to at least 10k.  Told me to check back after 3 months.  Might be too good to be true but worth trying in three months time.