02-03-2011 05:27 AM
I've been using this stupid little score for a while. Sure, I'm well aware it's no substitute for a real FICO score, but to perhaps gage activity and an attempt to find some correlation between scores, it thought it was somewhat useful. Yesterday, I applied for a private Sallie Mae loan and had to speak with the underwriter who congratulated me on my excellent scores and how I've managed things considering the environment. He wouldn't disclose my score. I get home last night and pull my Credit Karma score and it's a whopping 698--and I lost 3 points for the inquiry that belonged to Sallie Mae! At that point I pulled my score from here and guess what? 764! Not even close the the 'FAIR' category Credit Karma lumped me in.
End of rant.
02-03-2011 06:18 AM
Glad you pulled the real FICO! The stuff lenders see........
And yep, like you said, NO correlation. I think it was worth a rant!
02-03-2011 06:26 AM
Yeah, I don't know why I use Credit Karma and True Credit anymore. I've used Score Watch for years and buy my scores every once in a while from here for TU. I have to ask, what's the point?! FAKOs are worthless and we all know that but we still use them! I knew my TU score was strong; I pulled it about 3 weeks ago and it was 758 but this one just put me over that 'excellent' hump. Yet CK and TU shows scores that are junk.
02-03-2011 06:40 AM
Yea! Another full-fledged convert! I have one FAKO (CC-enhanced TransRisk via Junny...er, um Barclays now) and that score was about 175 points lower than my TU FICO when pulled on the same day sometime last month. It'll drive you nuts to figure out FAKO-FICO correlations.
02-03-2011 06:59 AM
I subscribe to a bargain rate CMS so I can pull my reports and check them periodically. I just ignore ALL the FAKO scores and the stupid FAKO advice.
And sometimes I do like to monitor my EQ FICO via myFICO's ScoreWatch. It makes me happy.
02-03-2011 04:55 PM
Credit Karma does not supply FICO Scores and does not claim to. It is useful as a way to see changes on your account on a daily basis. But if you want a FICO score come here or go to equifax.
02-03-2011 05:43 PM
So credit karma and true credit actually report lower than fico tu scores???
Not always. A FAKO score can sometimes be higher than a FICO and sometimes be lower. That's what makes it impossible to compare the two.
From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".