Laughing out loud at Credit Karma.

[gdale6]

There is no reason to cancel your CK account, they are great for notifications and access to your CR. The score you just ignore as its the TU new accounts model and that is where its scoring is going to be based the heaviest.

[Anonymous]

I couldn't even tell you what my CK scores are, that's how much I pay attention to them.

The only thing I use CK for is for updates to my accounts.

[Anonymous]

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@gdale6 wrote:

There is no reason to cancel your CK account, they are great for notifications and access to your CR. The score you just ignore as its the TU new accounts model and that is where its scoring is going to be based the heaviest.

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They no longer use the New Account score. They now use Vantage Score 3.0

[gdale6]

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@Anonymous wrote:

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@gdale6 wrote:

There is no reason to cancel your CK account, they are great for notifications and access to your CR. The score you just ignore as its the TU new accounts model and that is where its scoring is going to be based the heaviest.

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They no longer use the New Account score. They now use Vantage Score 3.0

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Thanks for that info, I havent even kept up with their changes on the scoring side since they are not Ficos.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
So you added several new account and presumably inquiries and are surprised that their* model brought back a lower score?
No model is broken. Just because it does not snych up with your Fico scores does not meant that it is broken. If it were to line up directly with Fico and move in tandem, they would have had no reason to create the model. Their model has it's own variable and according to their model your credit-worthiness has declined since last time. The good thing for you is that almost no lenders primarily use their scoring model.
And you don't have a REAL Experian score, you have a bunch of different scores from different providers. Only one of which is real and that depends on which one a lender looks at when you request credit.
As for the score, it's not Credit Karma's model, it's Vantage, which was created by the credit bureau's to compete with Fico.

But sure, go ahead and close your CK account, that will show them.

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The pulls were mainly from Experian other than a few from NavyFed which pulled a couple from TU and one from EQ. 

My credit utilzation shrank quite a bit. My Experian is 652. The real Equifax score is currently 610 according to their website without the updated Discover and Amazon reports. It's a broken score, it dropped 49 and 61 points. I wonder why virtually no lenders use their scoring model... (sarcasm). 

The Experian report I pull is directly from their website. 

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Again, its not "broken", its simply stresses different parameters. Your FICO Auto score may be different from your FICO 8 score, and may move in opposite directions according to certain criteria - does that mean its broken too? This is a little like saying a Ford is broken because it does not say Cheverolet on the side.

[message_from_god]

Hahahahahaha!  Well, I just added a lot of credit as well (I had ZERO credit currently open cc accts as of early summer).  My CK score plummeted, but my FICO went WAY up!  It's cool - no one uses CK really.  I know cause I used to have like an 800 w CK or something and I couldn't get a card!  I looked around for a lender that took CK and none were to be found.  But CK recovered.  I haven't checked it recently but I added a couple accounts like a month ago and I'm back in the respctable mid-high 700s as of the last time I checked.  They recover pretty fast in my experience.  

Once VS was important to me because I had a wrongfully listed public record that I was having a really hard time removing and I could at least show the VS to potential landlords and get some cred.  And it gave me some hope that one day either the public record would come off if I had enough energy to remove them or else someone somewhere would start using VS.  But once I got the record removed and my FICOs went up, I just use those and it's more legit.  

It IS funny how things can look really messed up for a while when you are doing what you need to do to build the score long term.  Those credit lines will be important coming soon, and going forward to keep a score higher.  But it looks like a mess for a while.  Hang in there.  

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@Anonymous wrote:

Checked my credit scores today from Credit Karma. 

Changes from last week: 

• New nRewards card, $1,000 limit. 
• Paid down $1,340 on my Citi Card so now the balance is $126/$1,500.
• Added $100 line of credit from Empower FCU.
• Added $500 line of credit from Navy FCU
• Paid down $500 of my Amazon Store card, reporting at $215/$800.
• Added Walmart credit card, reporting $0/$500
• Paid down Discover card so now it's reporting as $165/$750
• Credit utilization went from 57% to 28%.

But dang, somehow my credit scores dropped 48 points and 69 points since last week!!

Deleting my Credit Karma account immediately and using Discover Scorecard from now on. Their idiotic crap is going to give someone a heart attack someday. It's amazing because my REAL Experian is actually at 652, up from 638 last week, and I know my TU isn't at 579 and my EQ isn't 547. I guess someone should contact the owner and tell them how broken their scoring system and credit simulator is. 

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[Anonymous]

I use CK for the eye on two of the credit reports much more so than the score. The Vantage model weighs things differently than FICO 8 does and so it's pretty often that scores are very different (CK's TU Vantagescore is 50+ points lower than the TU FICO I get from Discover).

Take any of their recommendations with a grain of salt, of course, but the free weekly credit reports are nice.