topic Re: Credit Karma vs FICO in Understanding FICO® Scoring

Credit Karma vs FICO

Shogun — Wed, 19 Dec 2012 23:13:58 GMT

Took a hit this month on CK, dropped 61 points from new CC added. I still haven't figured out where they get their numbers.

TU08 759

TU98 753

Credit Karma 687

Am I ever thankful nobody uses their scores!!!!!!!

Re: Credit Karma vs FICO

HiLine — Wed, 19 Dec 2012 23:18:39 GMT

Is the new CC a Visa Signature?

Re: Credit Karma vs FICO

Shogun — Wed, 19 Dec 2012 23:19:14 GMT

Nope, Barclays NFL.

Re: Credit Karma vs FICO

Anonymous — Fri, 21 Dec 2012 01:17:05 GMT

I lost 28 points this month on CK getting a new CC, but my Vantage Score jumped from 694 to 712.

I'll be able to get my first Fico scores beginning of January to compare my scores. I can't wait!!

Re: Credit Karma vs FICO

Involus — Fri, 21 Dec 2012 17:48:18 GMT

My CK scores are almost 100 points lower than my actualy FICO scores. They smokin something over there.

(minor profanity tweak - Rev)

Re: Credit Karma vs FICO

Anonymous — Sun, 23 Dec 2012 14:03:12 GMT

My FICO score says 680, my CK shows 642 & my Credit Sesame says 639. But when the dealership pulled my credit for my new car, they said my credit score is 702...

Re: Credit Karma vs FICO

HiLine — Mon, 24 Dec 2012 21:42:59 GMT

Perhaps that additional account puts you in a different risk bracket according to their algorithms.

Re: Credit Karma vs FICO

GregB — Mon, 24 Dec 2012 22:46:37 GMT

@Anonymous wrote:
My FICO score says 680, my CK shows 642 & my Credit Sesame says 639. But when the dealership pulled my credit for my new car, they said my credit score is 702...

CK and Credit Sesame provide scores not used by any lender.

myFICO provides FICO scores that will match some lender scores and be similar to others.

First, are they the same CRA?

If they are, then the auto lender used a different version of FICO or the Auto Industry Enhanced verson of that FICO. They will have provided you with some other info that may help to figure out what they pulled. Is there a score range? Any other info?

Re: Credit Karma vs FICO

Anonymous — Tue, 25 Dec 2012 22:22:00 GMT

My CreditKarma transrisk score is 646 (fair) and has stayed that number for all of December.

My CreditKarma "vantage" score is 904 (an A) and has risen steadily all month - I paid off a few credit cards.

my understanding is that neither of the CK numbers are accurate but the Vantage score is completely useless... just my luck

Re: Credit Karma vs FICO

Revelate — Thu, 27 Dec 2012 05:08:42 GMT

@Anonymous wrote:
My CreditKarma transrisk score is 646 (fair) and has stayed that number for all of December.
My CreditKarma "vantage" score is 904 (an A) and has risen steadily all month - I paid off a few credit cards.

my understanding is that neither of the CK numbers are accurate but the Vantage score is completely useless... just my luck

Transrisk is pretty useless other than entertainment value, Vantage has some very small use as lenders will occasionally use it but I don't know of any offhand that make their primary lending decision off of it.

Vantage is developed by the CRA's to be competition to FICO's score, as such, out of any of the non-FICO scores, it's arguably the most beneficial; however, I suspect the number of Vantage-pulls being done is maybe on the order of 1% for non-auto/mortgage approvals, and quite likely a fraction of that.

Edit: ratio of Vantage pulls is probably posted somewhere I just haven't gone looking for it.

Re: Credit Karma vs FICO

Anonymous — Thu, 03 Jan 2013 02:29:24 GMT

I didn't see anything except where it showed the 702...but I did get 0% financing for 5 years...so I guess everything is good.

Re: Credit Karma vs FICO

Anonymous — Tue, 08 Jan 2013 17:02:29 GMT

CK is the worst. It had my credit score frozen for nine months before I cancelled, yes cancelled the service. It had me listed at 687 for that entire time. I had a FICO inquiry pulled toward the end of that 9 months through a mortgage lender and my middle score was 729, low 723 and high 739. When I attempted to contact them about the discrepancy they ignored my emails. After about five emails over a one-month period, I finally gave up and cancelled. My guess, based on the standard discrepancy from Credit Sesame (about 40 points low), is that my current middle FICO is likely now over 740. My last FICO pull from myFICO was 735 about two months ago with perfect everything behind it.

Also, if you had a student loan with Direct Loans during the servicing transition period, CK treats it like a new account which kills your credit score. That kicked me from 698 down to the stagnant 687 from which it never changed back. They simply suck at what they are doing.