Re: How accurate is CreditKarm
[ Edited ]
10-03-2012 01:41 PM - edited 10-03-2012 01:43 PM
CreditKarma provides a completely accurate Transrisk score and Vantage score. These are competing score models that are not meant to be a predictor of FICO score.
Transrisk is an educational purpose score, no lender uses this and as such it's not relevant to any sort of underwriting approval. TBH, I find it more for entertainment value than anything else, one month I paid down my credit card balances and my score dropped. Good times!
Vantage might have some value as there are a few lenders which use it occasionally today and it might gain wider adoption in the future; however, it was developed by the CRA's jointly to be a direct competitor to FICO's products, unlike any of the educational scores provided by any of the bureaus.
Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 670, Wally TU 700, EX 718 (11/29/13, EX 07/11/13)
Goal Score: 680 in all three (01/01/14)
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