topic Re: CreditKarma.com - benefits? in General Credit Topics

CreditKarma.com - benefits?

brother7 — Tue, 03 Mar 2009 22:48:07 GMT

I've seen CK mentioned several times on the forum.

Can someone explain what's the benefit of registering for CK? I've seen the term "daily pulls" and wonder what this is. Also, are there any drawbacks to using CK? In particular, I'm concerned about the increased number of INQs caused by "daily pulls".

There's a strong probability that I don't really understand the terms I used above, so forgive me if it's used out-of-context.

Re: CreditKarma.com - benefits?

Anonymous — Tue, 03 Mar 2009 23:11:14 GMT

There is really nothing to CK. All they do is provide a FAKO score from one of the CRAs. I believe it is TU but could be wrong.

There is no inquiry and no pull of your CR.

Re: CreditKarma.com - benefits?

Anonymous — Wed, 04 Mar 2009 01:41:33 GMT

They pull TU and a soft inq goes on your report. Soft inqs do not affect your score and are only seen by you. It's a FAKO, but they graph it so it's good for trends. My CK score has been going up for the last 3 months, so I will assume so has my TU FICO.

Re: CreditKarma.com - benefits?

brother7 — Wed, 04 Mar 2009 06:34:39 GMT

OK, I just joined CK and pulled my score. It matches my TU TrueCredit FAKO, so I guess that's what it is.

Does CK automatically pull credit scores or does the user have to manually pull it? Just wondering how the graphing over time works.

Re: CreditKarma.com - benefits?

Anonymous — Wed, 04 Mar 2009 09:11:21 GMT

You have to log in and update your score.

brother7 wrote:
OK, I just joined CK and pulled my score. It matches my TU TrueCredit FAKO, so I guess that's what it is.

Does CK automatically pull credit scores or does the user have to manually pull it? Just wondering how the graphing over time works.

Re: CreditKarma.com - benefits?

Anonymous — Wed, 04 Mar 2009 18:15:48 GMT

@Anonymous wrote:
They pull TU and a soft inq goes on your report. Soft inqs do not affect your score and are only seen by you. It's a FAKO, but they graph it so it's good for trends. My CK score has been going up for the last 3 months, so I will assume so has my TU FICO.

I have been using CK for around a year. I check my TU credit report every other day. There has never been an inquiry on it from CK, soft or otherwise.

Re: CreditKarma.com - benefits?

Anonymous — Wed, 04 Mar 2009 18:20:28 GMT

guiness56 wrote:
@Anonymous wrote:
They pull TU and a soft inq goes on your report. Soft inqs do not affect your score and are only seen by you. It's a FAKO, but they graph it so it's good for trends. My CK score has been going up for the last 3 months, so I will assume so has my TU FICO.

I have been using CK for around a year. I check my TU credit report every other day. There has never been an inquiry on it from CK, soft or otherwise.

Remember that softs will only be shown on reports directly from the CRA, not on reports from a monitoring service.

My report shows softs from CK.

Re: CreditKarma.com - benefits?

fused — Wed, 04 Mar 2009 18:34:34 GMT

My TU report shows CK softs too.

Re: CreditKarma.com - benefits?

Anonymous — Wed, 04 Mar 2009 23:20:16 GMT

I get mine directly from the CRA and it does not show CK.

Re: CreditKarma.com - benefits?

Anonymous — Thu, 05 Mar 2009 01:29:32 GMT

guiness56 wrote:
I get mine directly from the CRA and it does not show CK.

You purchase a TU report every other day from TU?

Re: CreditKarma.com - benefits?

Anonymous — Thu, 05 Mar 2009 01:47:25 GMT

No need to ever pay for TU, just start the dispute process and they give you one. Or say you've been declined credit and want a free report. That works for all three; they don't really check. I've gotten several reports this past year from all three bureaus and never had to pay.

Re: CreditKarma.com - benefits?

Anonymous — Thu, 05 Mar 2009 04:12:09 GMT

Mike14 wrote:
No need to ever pay for TU, just start the dispute process and they give you one. Or say you've been declined credit and want a free report. That works for all three; they don't really check. I've gotten several reports this past year from all three bureaus and never had to pay.

You can't start the dispute process every other day though.

As for saying you've been denied credit, if there isn't an inquiry to match it, it shouldn't process your request. It ask for the creditor who denied you credit. I've typed it incorrectly before and been denied the free report.

Re: CreditKarma.com - benefits?

MattH — Sat, 07 Mar 2009 04:42:13 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
They pull TU and a soft inq goes on your report. Soft inqs do not affect your score and are only seen by you. It's a FAKO, but they graph it so it's good for trends. My CK score has been going up for the last 3 months, so I will assume so has my TU FICO.

I have been using CK for around a year. I check my TU credit report every other day. There has never been an inquiry on it from CK, soft or otherwise.
Remember that softs will only be shown on reports directly from the CRA, not on reports from a monitoring service.

My report shows softs from CK.

When I get my annual free reports (via annualcreditreport.com) from the CRAs there are always a number of softs representing my pulls here.

Re: CreditKarma.com - benefits?

Anonymous — Sat, 07 Mar 2009 08:03:11 GMT

MattH wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
They pull TU and a soft inq goes on your report. Soft inqs do not affect your score and are only seen by you. It's a FAKO, but they graph it so it's good for trends. My CK score has been going up for the last 3 months, so I will assume so has my TU FICO.

I have been using CK for around a year. I check my TU credit report every other day. There has never been an inquiry on it from CK, soft or otherwise.
Remember that softs will only be shown on reports directly from the CRA, not on reports from a monitoring service.

My report shows softs from CK.
When I get my annual free reports (via annualcreditreport.com) from the CRAs there are always a number of softs representing my pulls here.

As there should be if you are pulling your reports here.

However, you won't find any softs on reports pulled here, from TrueCredit, or any other monitoring service. Only on reports gotten directly from the CRA.

Re: CreditKarma.com - benefits?

Anonymous — Sun, 08 Mar 2009 15:56:49 GMT

KreditKarma is not a FICO score. However, it is the TU proprietary score, which uses similar criteria for grading your score.

So, for tracking the effects of your credit, you can use it as a general gauge for progress at no cost. This is good. But, when you are considering a loan or credit after you have cleaned up or improved your credit, you would probably do well to pay MyFICO for a guenuine FICO.