Re: Walmart store credit card: research
12-17-2012 08:59 AM
Why this and not Credit Karma for example, which at least accesses the credit report of the user? I love the Fleet link on the front page of whogavemecredit, suggests not much site maintenance.
Most people who use whogavemecredit know the difference between a FICO and a FAKO score, and use a FICO in their posting. On CK, the "Approval Odds" thing is based off of your FAKO CK score, and is usually never accurate. It has told me I was a good match for tons of cards that I knew I couldn't qualify for, because my oldest account was only 2 months old at the time.
OK, I can certainly believe that CKs predictions aren't accurate/useful, but what about whogavemecredit? Obviously you need to infer, e.g. my score is X and 6 people with that or higher got accepted and 2 got rejected so my Approval Odds are "fair". But the sample size, the self-reporting and the lack of detail (e.g. some cards are listed as US Bank, whereas cards from that bank vary in difficulty) make me doubt the usefulness. But if I am wrong, good!