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Regular Contributor
audia4
Posts: 591
Registered: ‎11-08-2012
0

Credit Karma FAKO and alert today

So I have been told by several people about the Credit Karma site (and read about it on here once before months ago) and decided...what the heck, why not give it a try and see what it's all about.

 

I pulled it 5 days ago when I decided to apply for a new CC (approved for a Walmart Discover that day) and it gave me a TU score of 663  (I know, it's FAKO but just comparing). And the hard inquiry for the Discover was on there. (When I pulled the FICO 5 months ago it showed a score of 690)

 

So today, I get an email saying that there was a "change" to my credit report. I went back to CK and looked again. It now shows that the Walmart Discover has hit the account and now my credit FAKO score has decreased 11 points? :smileyfrustrated:  The score now says 652.

 

Did it decrease because I have a new card? Did it decrease because of the hard pull (which I wouldn't think because the first time I checked it, the hard pull was already on there).  I just don't get why the score went down by 11 points. I would think if anything, it would have went up because I now have an overall credit limit/availability and my credit utilization has now decreased by 9%.

 

Has anyone pulled both there FICO and FAKO at the same time to compare just how far off they are?  I'm just wondering if it really took a dip like that over getting another cc.

TU: 804 EQ: 810 EX 785


***$7500*** **$10,000*** **$9000**** ***$10250*** **$10,000*** ***$4500*** ***$6000*** ***$8000*** ***open*******open***



Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Credit Karma FAKO and alert today


audia4 wrote:

So I have been told by several people about the Credit Karma site (and read about it on here once before months ago) and decided...what the heck, why not give it a try and see what it's all about.

 

I pulled it 5 days ago when I decided to apply for a new CC (approved for a Walmart Discover that day) and it gave me a TU score of 663  (I know, it's FAKO but just comparing). And the hard inquiry for the Discover was on there. (When I pulled the FICO 5 months ago it showed a score of 690)

 

So today, I get an email saying that there was a "change" to my credit report. I went back to CK and looked again. It now shows that the Walmart Discover has hit the account and now my credit FAKO score has decreased 11 points? :smileyfrustrated:  The score now says 652.

 

Did it decrease because I have a new card? Did it decrease because of the hard pull (which I wouldn't think because the first time I checked it, the hard pull was already on there).  I just don't get why the score went down by 11 points. I would think if anything, it would have went up because I now have an overall credit limit/availability and my credit utilization has now decreased by 9%.

 

Has anyone pulled both there FICO and FAKO at the same time to compare just how far off they are?  I'm just wondering if it really took a dip like that over getting another cc.


I would recommen not paying amy mind to CK's score. It is worthless. CK is good for live TU report updates.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Frequent Contributor
Express
Posts: 383
Registered: ‎01-27-2012
0

Re: Credit Karma FAKO and alert today

Hi, It probably went down because on the new card but more than likely it will go back up!

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Contributor
solxp
Posts: 93
Registered: ‎12-16-2012
0

Re: Credit Karma FAKO and alert today

[ Edited ]

It most likely decreased because your AAoA took a hit once the new card actually reported. AAoA is a diffrent slice of the pie from new inquires that makes up your total score. CK is pretty much totally useless for tracking your numeric score. Where they are useful is in notifying you of  changes to your report and based on the type of change you can use it as a free monitoring service. If you see a negative hit then you should pull your reports to investigate furthur. There card matching feature can be helpful sometimes as they base there recomendation off what other CK members have had success with in comparison to your current picture but it has its flaws  but pay no attention to the score they give you and expect it to change based on the time of day and which hamster they have on the treadmill to power thier servers that day. The only thing more confusing then C's scoring model is thier insurance one. I have had that one  go down by 8 points one day then up 12 the next day then down 4 the 3rd day leaving me with the exact same starting score I was at 3 days ago with no updates/activity on my CA file during that 3 day window. 

Regular Contributor
audia4
Posts: 591
Registered: ‎11-08-2012
0

Re: Credit Karma FAKO and alert today

Any ideas how long it usually takes for the FICO score to recover from a hard pull and getting a new cc? (Just in case the real FICO did take a dip with a new cc being added and an inquiry showing up now).  I'm just wondering how long I should wait to pull the real FICO score just to be able to see an increase from the one I pulled 5 months ago (now with a new card on there).

TU: 804 EQ: 810 EX 785


***$7500*** **$10,000*** **$9000**** ***$10250*** **$10,000*** ***$4500*** ***$6000*** ***$8000*** ***open*******open***



Moderator
09Lexie
Posts: 25,880
Registered: ‎09-13-2012
0

Re: Credit Karma FAKO and alert today

It can vary but a good rule of thumb should be after your 6 statement. Could be sooner
Community Leader
Senior Contributor
myjourney
Posts: 26,602
Registered: ‎02-07-2013
0

Re: Credit Karma FAKO and alert today

You will get a real score now TU every month with that card 

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Regular Contributor
audia4
Posts: 591
Registered: ‎11-08-2012
0

Re: Credit Karma FAKO and alert today


myjourney wrote:

You will get a real score now TU every month with that card 


Do they tell you what days you can pull it? How does it work?

TU: 804 EQ: 810 EX 785


***$7500*** **$10,000*** **$9000**** ***$10250*** **$10,000*** ***$4500*** ***$6000*** ***$8000*** ***open*******open***



Community Leader
Senior Contributor
myjourney
Posts: 26,602
Registered: ‎02-07-2013
0

Re: Credit Karma FAKO and alert today


audia4 wrote:

myjourney wrote:

You will get a real score now TU every month with that card 


Do they tell you what days you can pull it? How does it work?


After you sign up for paperless statement you can pull it then after that its around the 10th of each month

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/6/13


Regular Contributor
audia4
Posts: 591
Registered: ‎11-08-2012
0

Re: Credit Karma FAKO and alert today


myjourney wrote:

audia4 wrote:

myjourney wrote:

You will get a real score now TU every month with that card 


Do they tell you what days you can pull it? How does it work?


After you sign up for paperless statement you can pull it then after that its around the 10th of each month


Around the 10th...I'll have to write that down so I don't forget. Thanks so much.

TU: 804 EQ: 810 EX 785


***$7500*** **$10,000*** **$9000**** ***$10250*** **$10,000*** ***$4500*** ***$6000*** ***$8000*** ***open*******open***




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