topic Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver? in Credit Cards

Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

Anonymous — Sun, 21 May 2017 21:25:48 GMT

Hi guys. Has anyone actually applied for any of the Capital One cards at the advice of Credit Karma? Were you approved? My Fico is about 590 right now and I don't know if I should trust this or not lol. I also had a charge off with them last year that has since been paid.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

Anonymous — Sun, 21 May 2017 21:29:21 GMT

Have you tried the CapOne prequal site? We got approved for a Cap One Platinum with scores around the same as that.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

Anonymous — Sun, 21 May 2017 21:33:27 GMT

@Anonymous wrote:
Have you tried the CapOne prequal site? We got approved for a Cap One Platinum with scores around the same as that.

+1. You're always better advised to go straight to the issuer's pre-qualification site/page. Credit Karma's card recommendations are basically informed guesswork based on their SP of your Vantage Score TU and EQ profiles, which may or may not be a close match for your FICO scores and profiles, which is what the issuers will generally use. You can by all means try an app via the CK links, but know that you're rolling the dice there more than if you went to an issuer's prequal site and got a good offer with a small-range or single APR.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

Anonymous — Sun, 21 May 2017 21:44:38 GMT

I went to Capital One page and absolutely nothing pops up. It says they can't find any offers for me. I said I wasn't going to re apply until Dec of this year (one year after charge off) and also 6 of my inquiries will fall off by then.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

Anonymous — Sun, 21 May 2017 21:57:50 GMT

I recently obtained a CapOne Venture One with a $10k SL. I do CreditKarma, CreditSesame and Credit.com just for kicks. Only one of them said my chances were very good with FICOs in the 780s. It was CapOne's site that gave me the confidence to apply after their pre-approval.

I was once matched with 19 offers on Creditmatch almost monthly. My scores are still in the 780s and now I have 4 pre-qualifieds on that site.

To make a long story short, don't trust anything other than the bank issuing the card. These other FAKO sites get commissions on referrals. I got duped into a Barclay's Rewards card when I was new to CreditKarma.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

Anonymous — Sun, 21 May 2017 21:58:08 GMT

@Anonymous wrote:
I went to Capital One page and absolutely nothing pops up. It says they can't find any offers for me. I said I wasn't going to re apply until Dec of this year (one year after charge off) and also 6 of my inquiries will fall off by then.

Good plan. If you didn't get any prequals (I haven't since I got my unsecured Platinum in February, but in my case that's probably more a function of the fact that Cap One will only allow new apps once every 6 months) then you'd be flipping a coin to apply. Build your history and scores and check again in December. Losing those inquiries then will definitely help.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

Anonymous — Sun, 21 May 2017 22:03:50 GMT

Yeah I'll just wait it out.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

Anonymous — Sun, 21 May 2017 22:33:09 GMT

It is a good site (credit karma) if you want to rack up 3 hard pulls at a time from cap1! ..along with the denial@$%!
I learned the hard way...
The individual prequel sites are the way to go

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

ChargedUp — Sun, 21 May 2017 22:37:27 GMT

Unless your'e getting pre-qual results from the lender itself, take anything with a grain of salt. Cap One's pre-qualifications on their own page are pretty solid from what I've heard though. If the results show a set APR, that's even better.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

Anonymous — Sun, 21 May 2017 23:18:49 GMT

The Quicksilver page on CreditKarma, under "Approval Odds" states that:

the average approved score is: 721

the typical low score is 658

the typical high score is 805

You might want to wait until your score places somewhere in that range. As others have said ... use the prequal page on Cap One.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

MrDisco99 — Sun, 21 May 2017 23:52:17 GMT

I've learned that not only is the Vantage 3.0 score way off from FICO (by over 100 points for me) but the CK approval odds based on those scores are also totally false. If you want to be sure, get a real FICO score and compare to the low and average score for the cards you want.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

K-in-Boston — Sun, 21 May 2017 23:55:36 GMT

Credit Karma is simply marketing. I have poor to fair odds according to them for subprime cards, and poor odds for the cards I already have that they display. Unless your Vantage scores align with actual FICO models (my Vantage scores are usually 80-110 points lower), it is complete guesswork. My signature speaks for itself.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

Anonymous — Mon, 22 May 2017 01:24:34 GMT

I applied through Credit Karma after they gave me a fair chance with Cap 1. I was apporved fr $300, they only pulled TU since EQ was frozen. My TU score at the time was 533. I also had a chargeoff from Cap 1 on my report.

Edit to add, this was for the Platinum card.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

Anonymous — Mon, 22 May 2017 02:34:51 GMT

CK approval odds are meaningless.

If you want a fairly good indicator of your approval odds, try the credit pulls database and compare the scores of those approved and denied for the card you are considering.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

VipreArmed — Mon, 22 May 2017 04:05:09 GMT

Credit Karma takes user data points and your Vantage score to determine their ratings for approval. It's hardly reliable. I would take the advice of everyone else and get your real scores, go to the prequalifying page and make your decision from there. I basically only use CK for their reviews and get some information regarding data points. I'd never use it to make a credit decsion.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

morgacj2004 — Mon, 22 May 2017 06:06:57 GMT

CK is not reliable esp if u still have a BK reporting. Still says very good for me to get an AX card when I have been declined repeatedly due to BK.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

VipreArmed — Mon, 22 May 2017 17:09:51 GMT

@morgacj2004 wrote:
CK is not reliable esp if u still have a BK reporting. Still says very good for me to get an AX card when I have been declined repeatedly due to BK.

This is what made me leery of CK's scores. They don't even have a Vantage Score for Experian yet they had my approval odds at "good" when it's known AX pulls Experian. I then read the reviews and it was a bunch of people who were complaining about being denied by AX even though CK had a high recommendation for it.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

Anonymous — Mon, 22 May 2017 19:27:50 GMT

I applied for a QS1 with fair approval odds on Credit Karma the first week of April. My scores were EQ 592 and TU 621. I was approved for $1000 CLI. I did check on the Cap1 site to see if I prequalified first.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

Anonymous — Mon, 22 May 2017 21:05:01 GMT

CK showed me fair chances for QS1 and the platinum card in 08/15. Got approved for both, but, I applied on the site. They recently showed me fair chances for the AMEX BCE. Got approved for it as well after going to their site and cold apping. I wouldn't actually trust them though as its not very reliable.

Re: Is Credit Karma wrong about "Fair" chances for CapOne Quicksilver?

Anonymous — Mon, 22 May 2017 21:23:28 GMT

I think I'm gonna wait a while until my score improves too.