topic Credit Karma's CC reviews in Credit Card Applications

Credit Karma's CC reviews

Anonymous — Mon, 10 Dec 2018 06:42:42 GMT

I searched for a similar thread but couldn't find one (there may be one).

However, I found this section on my phone that displays the scores associated with some cards and wasn't sure if I could find it on the site as someone told me they took this section down. Guess what, it wasn't taken down and it also exist on the site and is quite easy to get to.

Credit Karma has been exposed as not a great site to check your score but there is value in their account information. I'm not sure how many people knew this existed but I wanted to share for those whom this may come as a surprise. If you're currently apping for cards, and you didn't know of this, you can thank me later. I think this will help some of you with sub-prime scores get an "idea" of where you may stand with certain cards.

I am not saying that this information is 100% valuable or that is valuable at all, what I am saying is that it exist and you may find value in it. Best of luck MFs!

Still under review: I also assumed this is associated with the vantage score and not the fico score, Therefore one should allow for some slight variances in that and check your FiCO score to see where it stands with these scores.

In the years this forum has been around, I'm sure the study has been done and a guru will wrist slap me for bringing it back up, but I didnt' know and maybe someone else didn't either, so if there is relevant information gathered on how this could work in someones favor, please share, but don't come at me

Re: Credit Karma's CC reviews

AverageJoesCredit — Mon, 10 Dec 2018 12:08:11 GMT

Fico it, war is in your name, you gotta say " Come at me Bro" ;

Re: Credit Karma's CC reviews

SomewhereIn505 — Mon, 10 Dec 2018 12:54:41 GMT

I think DoC has a list of approval range for different lenders based on CK reported results.

Gives you a bit of a clue, however I typically rely in my research done here on MF on the lenders typical preapproval reliability and relationships. I’m still convinced that I got into Chase and Citi based on the airline relationships with the lenders.

Re: Credit Karma's CC reviews

Anonymous — Mon, 10 Dec 2018 15:01:31 GMT

Lol AJC, I didn’t want to disrespect anyone as I may be the first to get removed in that battle, I was expecting a light reaming from the top tier for repeating info, thanks for reminding me of the art

Thanks somewhere, I’m going to look into that, seeing a score next to the card seemed like it would make a major difference in app behavior

Thanks guys for showing a little post love, obviously my insomniac mind saw excitement where others saw fluff, I’ll have to consider my relevant information more carefully

Re: Credit Karma's CC reviews

SomewhereIn505 — Mon, 10 Dec 2018 15:33:36 GMT

@Anonymous wrote:
Lol AJC, I didn’t want to disrespect anyone as I may be the first to get removed in that battle, I was expecting a light reaming from the top tier for repeating info, thanks for reminding me of the art

Thanks somewhere, I’m going to look into that, seeing a score next to the card seemed like it would make a major difference in app behavior

Thanks guys for showing a little post love, obviously my insomniac mind saw excitement where others saw fluff, I’ll have to consider my relevant information more carefully

That is the major problem I have with CK and the rest of the credit card offers type pages. The scoring systems used are super outdated and have been off as much as 75 points for me. I probably wasted a few HP believing that I was prequalified when I was no where near touching it.

The longer I've been more active here on the forums, learning what I can about any type of issuer, the more informed that I have become to the point I can smell and call out credit BS.

According to CK currently, I have excellent chances of any Chase card (beyond 5/24) and AmEx charger (which I have no interest in). But I have poor chances for Cap One Premier (my inital rebuilder card). Go figure!

Re: Credit Karma's CC reviews

Winesnoblv — Mon, 10 Dec 2018 17:47:39 GMT

I think the value for Credit Karma comes for those who do not want to pay for scores on other sites and are able to see the number of inquiries, usage, and other information rather than an actual FICO8 score. Also, there are many who are not versed on the different FICO scores. I know that I have learned more by being on this site than any other.

That being said, I find Credit Karma to be useless. I don't think any creditor uses the FICO scoring that Credit Karma does. In addition, I think Credit Karma's approval of credit cards is more based on referral fees received than by actual credit. One reason is that they have my approval rating for CSR at excellent and CSP at fair. I would think the CSR would be more difficult to attain, but it does have a higher AF which may realter to a higher referrel fee. Also, I am over 5/24. They also tend to have AMEX cards with high approval ratings. I have read that AMEX has one of the highest referral fees paid.

Re: Credit Karma's CC reviews

RonM21 — Mon, 10 Dec 2018 19:35:22 GMT

It is well documented on the forums here about the discrepancy between CK and Fico. Using CK for your reports can be helpful, as it is a free source to use for checking the info only for TU and EQ. Beyond that, I have not allowed myself to trust anything else on the site, whether it be offers, recommendations, or scores.

Now to the point the Op brought up about the reviews being there, I guess that might be harmless as I would assume those reviews are from people with actual experiences with a particular lender's product. But I say "I guess" because I don't even look at those.

Re: Credit Karma's CC reviews

Pikaboo-icu — Mon, 10 Dec 2018 19:58:41 GMT

In the spirit of: more data is always better than less, I say it's ok to use it IF; it's used with other DPs from other sources.

Most of us know CK is NOT a source for Fico/credit scores but the review data seems to be accurate from my perfunctory test.

It has me at POOR odds for Chase Sapphire (as I am over 5/24 this is correct).

and

Excellent odds for Amex Cash Magnet (I'm preappoved via my Amex acct so this is also correct).

So as an additional data source, it's a good tool.

Re: Credit Karma's CC reviews

Anonymous — Tue, 11 Dec 2018 14:25:02 GMT

All great points made, and thank you all for the input.

My thinking was if you went to the review page, and say you go to the "card by scores" section. If it says that people with an average score of 660 were approved for this "CapOnePlat". One could assume that is referring to 660 on CK and not a 660 FICO. Therefore you can apply based on THAT criteria. Even though the scoring would be invalid.

So if people were approved, it was based on their FICO score, but they were matched to the card by their CK score and the average score approved section on CK's website

So in theory, say you go to the site, your score says 660 (useless score), and a card says people with a score of 660 (useless score) were usually approved with "this" card. Based off of that information you would assume that even though their card was actually approved by a their FICO score (valued score). CK's software is just registering that they applied through the site and were approved with whatever CK score they had.

You could use the information however you saw fit. A lot of people use CK and may continue to, so milk the cow teets that work, not the ones that don't

This is all a theory guys, so again thank you for replying, very valid points made

Edit: None of this is regarding the "good, fair, poor" ratings, ONLY the card by scores section