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Credit karma- transrisk or vantage ?

Regular Contributor

Credit karma- transrisk or vantage ?

On the credit karma. Website What # should I be focusing on? Transrisk or vantage ?

Message 1 of 6
5 REPLIES
Moderator Emeritus

Re: Credit karma- transrisk or vantage ?

Actually, neither.  

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 2 of 6
Regular Contributor

Re: Credit karma- transrisk or vantage ?


Shogun wrote:

Actually, neither.  


You're the third person that I have seen said this......you mind me asking why please. I am not that knowledgeable in the FICO vs FAKO area. Thanks! Smiley Frustrated

 




Current Score: TU 671 / EQ 675 / EX 682
Goal Score: 700 Club Across the board!

Message 3 of 6
Moderator Emeritus

Re: Credit karma- transrisk or vantage ?

They aren't used by lenders, hence what's the point in the score?

 

I'll give you an example why.  With the Transrisk on CK, you only get AAoA for open accounts.  So, say you have been paying a mortgage off for 30 years.  As soon as you pay it off, that positive TL is gone, you get no credit for it whatsoever.

 

With FICO, you will still get that positive TL for another 10 years, adding to your AAoA and strengthening your CR.

 

So, is it not prudent to show that information to a potential creditor?

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 4 of 6
Frequent Contributor

Re: Credit karma- transrisk or vantage ?

Not to counterpoint what Shogun is saying but if your goal is to repair your credit, then most FAKOs will serve that purpose.  Just find one (like Credit Karma) that you will check over and over as you make repairs to your credit.  Something that will allow you to check your progress.

 

If you're looking for a measuring stick for credit approval, then stick to what Shogun said. 

 

 


Message 5 of 6
Moderator Emeritus

Re: Credit karma- transrisk or vantage ?

And I totally agree with you on that.  I use CK myself, and I use it like you said, to monitor for changes.  I was just referring to the scores.  Smiley Happy

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 6 of 6