topic Re: Credit Karma in General Credit Topics

Credit Karma

red259 — Thu, 10 Oct 2013 04:02:42 GMT

When I signed up for credit karma the first time it gave me a TU score of 753. Is this the real TU score? If its the real score I am happy since this is the score with 0% util so it should go up in a few days when my balance of 1% util reports.

Re: Credit Karma

Anonymous — Thu, 10 Oct 2013 04:07:11 GMT

Real TU score can only be found by purchasing it here through MyFico.

If it's not from this site, it is a Fako.

While I would not trust CK with a very accurate reading, I give it the benefit and just use it as a general idea of where my score stands.

It's weird sometimes. I dropped like 30 poinrs because one month I had a 0 balance, and the next month was $50 bucks.

Re: Credit Karma

Anonymous — Thu, 10 Oct 2013 04:38:33 GMT

****req move to Gen Credit****

Re: Credit Karma

mongstradamus — Thu, 10 Oct 2013 04:40:40 GMT

@Anonymous wrote:
Real TU score can only be found by purchasing it here through MyFico.

If it's not from this site, it is a Fako.

While I would not trust CK with a very accurate reading, I give it the benefit and just use it as a general idea of where my score stands.

It's weird sometimes. I dropped like 30 poinrs because one month I had a 0 balance, and the next month was $50 bucks.

my CK tu fako is about 65-70 points lower than my walmart TU fico score. I only like using CK to keep track of when accounts are due and utilization

Re: Credit Karma

IcEWoLF — Thu, 10 Oct 2013 05:43:16 GMT

@Anonymous wrote:
Real TU score can only be found by purchasing it here through MyFico.

If it's not from this site, it is a Fako.

While I would not trust CK with a very accurate reading, I give it the benefit and just use it as a general idea of where my score stands.

It's weird sometimes. I dropped like 30 poinrs because one month I had a 0 balance, and the next month was $50 bucks.

Actually all credit scores are FAKO, even the ones sold here.

Each lender has their own scoring system, so it will always be different for each lender.

Re: Credit Karma

djc1puno — Thu, 10 Oct 2013 05:45:19 GMT

@IcEWoLF wrote:
@Anonymous wrote:
Real TU score can only be found by purchasing it here through MyFico.

If it's not from this site, it is a Fako.

While I would not trust CK with a very accurate reading, I give it the benefit and just use it as a general idea of where my score stands.

It's weird sometimes. I dropped like 30 poinrs because one month I had a 0 balance, and the next month was $50 bucks.
Actually all credit scores are FAKO, even the ones sold here.

Each lender has their own scoring system, so it will always be different for each lender.

each lender has their own brew for scoring, but they do base their scores from a form of FICO score

Re: Credit Karma

Revelate — Thu, 10 Oct 2013 09:07:56 GMT

@IcEWoLF wrote:
@Anonymous wrote:
Real TU score can only be found by purchasing it here through MyFico.

If it's not from this site, it is a Fako.

While I would not trust CK with a very accurate reading, I give it the benefit and just use it as a general idea of where my score stands.

It's weird sometimes. I dropped like 30 poinrs because one month I had a 0 balance, and the next month was $50 bucks.
Actually all credit scores are FAKO, even the ones sold here.

Each lender has their own scoring system, so it will always be different for each lender.

Actually every lender I've worked for pull multiple scores in addition to having their own internal risk analysis, and I've heard that Chase and others are similar second hand.

In some cases though you know exactly what you're getting: Mortgage = FICO '04 non-enhanced, which is exactly what the EQ score here is.

Re: Credit Karma

flan — Fri, 11 Oct 2013 03:56:10 GMT

@djc1puno wrote:
@IcEWoLF wrote:
@Anonymous wrote:
Real TU score can only be found by purchasing it here through MyFico.

If it's not from this site, it is a Fako.

While I would not trust CK with a very accurate reading, I give it the benefit and just use it as a general idea of where my score stands.

It's weird sometimes. I dropped like 30 poinrs because one month I had a 0 balance, and the next month was $50 bucks.
Actually all credit scores are FAKO, even the ones sold here.

Each lender has their own scoring system, so it will always be different for each lender.
each lender has their own brew for scoring, but they do base their scores from a form of FICO score

CK's score is TU's 'new account' score, or something very close to it. That's a real score that (some small number of) lenders use as part approving or denying credit applications.

The TU new account score is supposed to represent the chances of a new account becoming delinquent in the first 24 months. That's a different use than the FICO scores that people commonly quote (and whcih our hosts wil sell to you). Because of that, the score will react differently to different changes in the file. New accounts will cause a bigger drop, for instance. That's also why it doesn't incude closed accounts in figuring age of accounts: TU doesn't think they're very relevant to new accounts. TU sell different products for managing existing accounts, and they weight different things and weigh them differently.

Whether it has any relevance for a particular product is something you'd have to ask the lender. And they're not liekly to tell you; how credit scoring is done is proprietary information.

Re: Credit Karma

Revelate — Fri, 11 Oct 2013 06:12:36 GMT

If lenders were evaluating me on that score, I'd still be deep subprime.

I'm not certain how relevant TU is these days: Experian is kicking their ass seemingly, and Equifax still has a massive install base compared to TU's Midwest roots. In any event FICO scores make up something like 95% of the scores pulled, and for anything important (Mortgage / Auto) they're almost assuredly there, and while lenders pull multiple scores, I haven't worked at one which used this particular one. Vantage is typically held in much higher regard I think anyway.

That is interesting though, I hadn't realized it was a for sale score until I went looking for the CK FAQ after your post. Thank you for bringing that up.