Student Loan Consolidation dropped score drastically

[Anonymous]

Has anyone seen this? I did a consolidation that appears to have dropped my score 50-100 pts. Is this normal? I am almost tempted to try and undo it. 

[medicgrrl]

Have you pulled your credit report or is this based on an alert?

[Anonymous]

It's very normal if you are referencing a FAKO score pulled from Credit Karma or Credit Sesame which only give you fake "credit" scores that don't mean anything and that some businesses were fined and penalized by the federal government for telling people are real scores.

Where did you get your scores from?

[Anonymous]

I logged into Credit Karma. I log in periodically just to make sure nothing is reappearing on my credit report etc. This just threw me for a loop as my score has been climbing. Any reccommendations on what credit monitoring to use? This was not the reaction I was looking for when consolidating my studen loans. Maybe I should wait as, I don't even see the new consolidated loan showing up yet

[Anonymous]

The "credit score" from CreditKarma is a FAKO "VantageScore" score -- it's useless for credit purposes and means nothing.  In fact, TransUnion provides the same score and the federal government beat them up and fined them millions for lying to people about the usefulness of the VantageScore.  That score is not your credit score, it isn't real.  Throw it away.

If you want some real credit scores, you can get all 3 FICO scores and your reports by doing the $1 trial with CreditCheckTotal and cancel the trial after using it.  Those will be real FICO08 credit scores that real creditors use.

CreditKarma is fine for getting notifications on credit repor changes, but the scores are BS.

[medicgrrl]

My TU report improved... Credit Karma dropped my score while my FICO increased 113 points. CK is good for monitoring your actual report but ignore the scores

[Anonymous]

I wonder how long it will be before a class action lawsuit happens against all of these VantageScore dispensing websites.  Yes, in their "terms and conditions" they like to tell people that their scores are "for educational purposes" but giving people heart attacks and enticing them to apply for offers they're "pre-selected" for is confusing and bordering on the edge of fraudulent.