topic Re: credit karma does not do what?!?! in General Credit Topics

credit karma does not do what?!?!

Anonymous — Mon, 04 Apr 2011 18:46:23 GMT

Credit Karma must not factor in line of credit revolving accounts into utilization, but regular fico does I am pretty sure. Right?

I just realized this b/c my two new accounts just hit, a credit card and a line of credit.

Has anyone else realized this?

Re: credit karma does not do what?!?!

Anonymous — Tue, 05 Apr 2011 21:43:21 GMT

Anyone else experiencing this? My 20k LOC is not included in my total amount of credit. Anyone?

Re: credit karma does not do what?!?!

Anonymous — Tue, 05 Apr 2011 21:51:22 GMT

On CreditKarma, it counts only my Visa portion of my PSL/Visa combo that I have through PSECU, so I think you're on to something there. Both lines of the combo are showing up on the "real" credit reports though. So, CK utilization percentages will always be off.

Re: credit karma does not do what?!?!

creditguy-378 — Wed, 06 Apr 2011 00:04:08 GMT

first off why is anyone looking at credit karma it's a fako score if you want a real ex score you have to get it from a lender that still pulls ex fico's or you have to settle for the vantage from them which isn't a bad scoring model since we can't buy our own fico's from them anymore

Re: credit karma does not do what?!?!

Walt_K — Wed, 06 Apr 2011 12:02:20 GMT

@creditguy-378 wrote:
first off why is anyone looking at credit karma it's a fako score if you want a real ex score you have to get it from a lender that still pulls ex fico's or you have to settle for the vantage from them which isn't a bad scoring model since we can't buy our own fico's from them anymore

Credit Karma can still be useful. First, it's free. No real harm. You can pull daily updates. You might want to know whether an inquiry hit your report or whether one of your account balances has updated. I find it useful for that purpose. Also, I think CK pulls from TU, not EX.

Re: credit karma does not do what?!?!

MarineVietVet — Wed, 06 Apr 2011 15:27:50 GMT

@Walt_K wrote:

Credit Karma can still be useful. First, it's free. No real harm. You can pull daily updates. You might want to know whether an inquiry hit your report or whether one of your account balances has updated. I find it useful for that purpose. Also, I think CK pulls from TU, not EX.

That is correct.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: credit karma does not do what?!?!

Anonymous — Wed, 06 Apr 2011 17:10:15 GMT

Yes I'm in same boat as you I had to check my tu to make sure they were reporting okay and they are. I guess we just have to do a little simple calculation to get it right I guess. But what if we have a balance on PSL ? I doubt I ever will though.

Re: credit karma does not do what?!?!

Walt_K — Wed, 06 Apr 2011 18:24:02 GMT

Balance on PSL? You mean balance on no preset limit card like Amex? When I click on the Credit Report Card for utilization, it only calculates my utilization on open revolving lines of credit. It ignores my balances and limits on closed cards. If I click on See Details, I get my limit and balance on my open revolving lines, and though it doesn't put it into the utilization calculation, it does separately list my balance on open credit cards that don't report a limit.

Now I don't have a LOC attached to a card like you mentioned in your original post, so not sure how to address that.