topic Re: Opened $200 secured Citibank card...Transunion and Equifax scores DROP in Credit Card Approvals

Opened $200 secured Citibank card...Transunion and Equifax scores DROP

TimeLBK — Sun, 15 Oct 2017 15:40:43 GMT

Opened $200 secured Citibank card...Transunion and Equifax scores DROP 49 and 60 points respectively. Does this happen a lot? My Utilization on my credit is 8% total, so I don't know why?

Re: Opened $200 secured Citibank card...Transunion and Equifax scores DROP

Anonymous — Sun, 15 Oct 2017 15:46:40 GMT

It happens a lot if you're relying on Credit Karma which doesn't give you FICO scores but some entertainment-only number called Vantage Score that no consumer lender looks at or cares about.

Where are you pulling your scores from? Website?

Re: Opened $200 secured Citibank card...Transunion and Equifax scores DROP

TimeLBK — Sun, 15 Oct 2017 16:46:17 GMT

@Anonymous wrote:
It happens a lot if you're relying on Credit Karma which doesn't give you FICO scores but some entertainment-only number called Vantage Score that no consumer lender looks at or cares about.

Where are you pulling your scores from? Website?

Credit Karma

Re: Opened $200 secured Citibank card...Transunion and Equifax scores DROP

Anonymous — Sun, 15 Oct 2017 17:01:57 GMT

Credit Karma scores are useless for gauging credit worthiness.

Some of the companies providing those Vantage Scores we're penalized millions of dollars this year for telling people that their scores were useful for credit purposes.

To see useful scores, make sure the score says FICO. You can get a free FICO score at creditscorecard.com or pay $1 to creditchecktotal.com for all 3 scores but make sure to cancel the trial right after.

Re: Opened $200 secured Citibank card...Transunion and Equifax scores DROP

Meanmchine — Sun, 15 Oct 2017 18:32:15 GMT

Congrats on starting your credit journey with Citibank. They have a good lineup of cards that will suit your needs for decades