Credit Karma Change

[Anonymous]

My bank pulled my FICO and it is literally a 100 point differencedifference from CK. My actual credit score is a 40/60 point difference from the bank. The bank explained that they all use different FICO models or something.

[Anonymous]

I use CK primarily to just give me an indicator of where my credit is at but it literally went up almost 70 pts. Weird.

just read this: 

FICO Score

• 35% payment history
• 30% level of debt
• 15% age of credit history
• 10% types of credit
• 10% credit inquiries

VantageScore

• 32% payment history
• 23% utilization
• 15% balances
• 13% depth of credit
• 10% recent credit
• 7% available credit 

[Anonymous]

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@StartingOver10 wrote:

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@Anonymous wrote:

Anyone else notice a change in the score listed on CreditKarma? Looks like mine dropped about 20 points with the update.

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The whole Credit Karma site changed for me two days ago. My guess is that they are rolling out the changes to different markets at different times. For the first time I see two credit reports - one for TU and one for EQ.  The scores went up substantially but I had also simultaneously reduced my utilization from 50% to 19% (actually less, but some old balances are still reporting). So I have no idea what is attributed to the increase in scores. I did have my actual TU report and score pulled yesterday (FICO) and it was 726 and CK TU score still reads much lower (706).

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First, the change over from Transunion New Account scoring model to Vantage 3.0 will adjust your score.  It did the same to mine as well with my TU score.  Second, you reducing your utilization from 50% to 19% is another factor in the rise in your score.  Actually, your move in scores is very similar to my jump in scores.  
However, with all that being said, I'd say to both you and the OP...you should give no credence to the scoring of CK.  None.  The only use of CK is to mark trends.  Other than that, I do not give  CK any weight or concern.  

[Anonymous]

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@Anonymous wrote:
My bank pulled my FICO and it is literally a 100 point differencedifference from CK. My actual credit score is a 40/60 point difference from the bank. The bank explained that they all use different FICO models or something.

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I have the myfico 3B credit monitoring and the differences are interesting:

FICO 08  EQ  735    TU  730

CK           EQ  697    TU  697  

So in my case, you see a 35+ difference in scores.  I simply do not pay attention to where my CK score move.      

[lavencedora]

My scores went up with CK new use of the Vantage 3 model. Now they more closely match my FICO '08, which MyFICO is pulling. Mortgage lender scores are different -- putting different weights on certain factors & mine are, unfortunately, lower on the lender pulls. CK is only useful in terms of watching the trending of your scores, as others have noted. The scores themselves have nothing to do with your actual FICO.

[Anonymous]

I noticed the change. My scores are now closer to myfico but to me the site is way too busy.  I don't like it.

[Anonymous]

Yes!!! I had a huge drop! I feel so discouraged!!!!! 

[Anonymous]

Me too. 

I understand that they are FAKOS but they are on par with a recent denial letter I recieved and much lower than my FICO scores.

[Anonymous]

Mine dropped over 100 points, I am very upset

[Anonymous]

Mine went up with the change.... If it makes you feel better you can go back and look at the archives and it even overlays the new vantage score model over your old scores from them, TU only obvioulsy since the just added EQ. Here is a screen shot of the graph it shows me when I look at my archived scores, it shows the old score model and the new VatageScore 3;

http://s66.photobucket.com/user/b16aef4dr/media/CKupdate_zpsc6a35422.png.html