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Credit Karma Score crash + Vast Difference From CC Company scores

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Anonymous
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Credit Karma Score crash + Vast Difference From CC Company scores

So here's my issue.

 

1) I had 2 negative accounts on file with Transunion. One was for some missed student loan payments and another for a Kohls card.

2) The student loan account had been close for years so I disputed it and Transunion decided to remove from my profile

3) My credit score dropped 58 points from doing this

4) Credit Karma now says my Transunion score is 652

5) Discover says my FICO score is 716

6) Capital One says my Transunion score is 714

 

First of all,

 

Why could a negative account being removed lower your transunion score by 58 points

 

Second of all,

 

Why is there such a huge discrepancy between the Transunion score from Credit Karma and Capital One?

 

Thanks,

 

pstraight

Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: Credit Karma Score crash + Vast Difference From CC Company scores


@Anonymous wrote:

So here's my issue.

 

1) I had 2 negative accounts on file with Transunion. One was for some missed student loan payments and another for a Kohls card.

2) The student loan account had been close for years so I disputed it and Transunion decided to remove from my profile

3) My credit score dropped 58 points from doing this

4) Credit Karma now says my Transunion score is 652

5) Discover says my FICO score is 716

6) Capital One says my Transunion score is 714

 

First of all,

 

Why could a negative account being removed lower your transunion score by 58 points

 

Second of all,

 

Why is there such a huge discrepancy between the Transunion score from Credit Karma and Capital One?

 

Thanks,

 

pstraight


Welcome to MyFico.

 

It's possible that the student loan account being removed drmatically lowered your Average Age of Accounts and this could account for the drop in scores.  More importantly if it's CK telling you your score dropped, I wouldn't be too concerned as you'll see below, it's not a Fico Score

 

The Capital One Credit Tracker score, while based on Transunion is only an 'educational' score and for the most part completely meaningless.  The CreditKarma score is a Vantage 3.0 Score and is not used by many creditors.

 

The Discover score is a true Fico 08 Transunion score and is the most accurate right now in terms of judging where your credit stands.  If this one has stayed relatively constant, then don't worry about the supposed drop in score.

 

You should also at least check your Experian and Equifax scores to see where you really stand overall.

Message 2 of 6
Anonymous
Not applicable

Re: Credit Karma Score crash + Vast Difference From CC Company scores

I would not put much faith in Credit Karma , a free service that gives you lower scores than MYFICO in an attempt to scare you into using one of there sponsors which include this Lexington Law Firm to help clean your credit for an exorbitant fee of course. Sign up for your real scores here and get on the boards and learn how to repair your own credit. You know what they say? If it's FREE and to good to be true there's a catch somewhere . No legitimate site is going to give you Anything.. 

Message 3 of 6
Anonymous
Not applicable

Re: Credit Karma Score crash + Vast Difference From CC Company scores

From my experience, the CK transuninon score does not factor in closed accounts for AAoA pruposes.  It dislikes inquires and new accounts reporting to a high degree, and may dislike ANY change at all-at least in the short run.  Best to just ingnore that score. 

Message 4 of 6
StartingOver10
Moderator Emerita

Re: Credit Karma Score crash + Vast Difference From CC Company scores


@Anonymous wrote:

From my experience, the CK transuninon score does not factor in closed accounts for AAoA pruposes.  It dislikes inquires and new accounts reporting to a high degree, and may dislike ANY change at all-at least in the short run.  Best to just ingnore that score. 


+1 to all the comments above - my CK score is substantially less than my FICO 8 scores.  This comment above ^^^ is so true. If you are adding new accounts the hit to the CK score (Vantage 3.0) is huge. Best to ignore this score (unless a creditor uses that particular score to measure your creditworthiness which rare right now). 

Message 5 of 6
Anonymous
Not applicable

Re: Credit Karma Score crash + Vast Difference From CC Company scores

Thanks for all the information, guys. I feel more at peace now.

 

Regards,

 

pstraight

Message 6 of 6
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