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How accurate is credit karma?

Valued Contributor

Re: How accurate is credit karma?

Heres to my FALL OVER MY SCORES party on or about APril 17 2012Smiley Tongue


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

Lowes7,000 Discover More 2800. Jcpenny 6,000
Chase freedom 800 Never take NO for an answer!!
Message 11 of 24
Established Contributor

Re: How accurate is credit karma?

Wow, so Ck score seems to usually be less the the true fico, thats good to know Smiley Happy
Message 12 of 24
Blogger

Re: How accurate is credit karma?


To-Be-Continued wrote:

FrugalRican wrote:

About as accurate as me trying to guess what number between 1 and 10 you are thinking of right now.



7?

 

 


I thought it was 11.

 

I once got my Vantage Score by mistake (or because I didn't know the difference) and had like a 763. I thought I was THE MAN until I realized I had the wrong score and I was actually about a 684 FICO score.

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Message 13 of 24
Regular Contributor

Re: How accurate is credit karma?


FrugalRican wrote:

To-Be-Continued wrote:

FrugalRican wrote:

About as accurate as me trying to guess what number between 1 and 10 you are thinking of right now.



7?

 

 


I thought it was 11.

 

I once got my Vantage Score by mistake (or because I didn't know the difference) and had like a 763. I thought I was THE MAN until I realized I had the wrong score and I was actually about a 684 FICO score.


What would make that worse is if you paid for said take-ad-"vantage score"

 

TBC

AUDE VIDE TACE :
Starting Score: 684
Current Scores: EQ 796 TU 794 EX 750 (All lender pulls on 2/9/12)
Goal Score: 800 all 3
Message 14 of 24
Blogger

Re: How accurate is credit karma?

Yep, ever since then I've vowed to find other ways to waste $7.95 that don't include false hope and the inevitable crash afterwards.

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)

Message 15 of 24
Valued Contributor

Re: How accurate is credit karma?

If im not looking to jump off the GW bridge on the 17th Ill report the results Finger toes eyes and inside all crossed.  I feel like Im about to give birth and find out if its a boy or a girl!!!!!!!!!!!!!!!!!


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

Lowes7,000 Discover More 2800. Jcpenny 6,000
Chase freedom 800 Never take NO for an answer!!
Message 16 of 24
Regular Contributor

Re: How accurate is credit karma?

That is funny. I'm closing on a house in June and plan on getting my first dog ever (a Pug) I plan on naming him/her FICO.

 

 

TBC


annielorie wrote:

If im not looking to jump off the GW bridge on the 17th Ill report the results Finger toes eyes and inside all crossed.  I feel like Im about to give birth and find out if its a boy or a girl!!!!!!!!!!!!!!!!!


 

AUDE VIDE TACE :
Starting Score: 684
Current Scores: EQ 796 TU 794 EX 750 (All lender pulls on 2/9/12)
Goal Score: 800 all 3
Message 17 of 24
Moderator Emeritus

Re: How accurate is credit karma?


cwwatts1202 wrote:
I know it isn't accurate, but for those who know your true fico, how far off is credit karma?

It's as accurate as completely worthless scores (The TransRisk scores offered there) and almost worthless scores (The VantageScores offered there) can be.

 

In other words there is no way to compare those scores to FICO scores. There is no formula or equation to convert one to the other. For as many people who tell you their FICO's are lower than what CK has you will find just as many people saying their FICO's are higher.

 

Ignore the scores from CK. Trying to rely on them is an exercise in futility.

 

 

 


 

Message 18 of 24
Frequent Contributor

Re: How accurate is credit karma?

I think there is a lot of issues with Credit karma which is the reason I no longer use it other than to compare myself to other Credit karma users maybe once a month and see what direction my score is moving. here are some of the issues that skew the score..either negative or positive...

 

1) Credit karma only shows AAOA of only open accounts not closed. If you have accounts that have been closed but on your file for last 6-7 years it does not take that into effect.

 

2) Utilization is only on open revolving accounts so if you have a charge off with a balance it does not take that into account. in this case of course your FICO could be lower.

 

I don't remember some other things off top of my head but those are 2 major ones.

NFCU Visa Sig $30k / Amex Blue Cash $25.5k / Fidelity Amex $25k / Chase Freedom $14.5k / Citi Double Cash $5k / Capital One Quicksilver Visa Sig $5k / Citi Best Buy MC $3K / Barclay Rewards MC $2.95k / BOA - BBR $2.5k / SY Lowes $15k / SY Amazon $6k / Target RedCard - $300
Message 19 of 24
Established Contributor

Re: How accurate is credit karma?

Thank. I was just curious, I don't rely on it, was just curious of others experience with ck
Message 20 of 24