topic Re: Credit Karma in General Credit Topics

Credit Karma

Anonymous — Tue, 26 Feb 2013 12:41:20 GMT

This week I wanted to app for a new card at hhgregg . Moving into a new apartment and wanting this card. I checked my credit karma score. I was shocked to see that my Trans Union score was poor at 626. Immediatly I said " Thats not right !" . I logged into my fico account, bought my Trans Union score for today and my score was 684, Equifax was 656.

So 1. Just wanted to document that yes credit karma scores are way off, BUT its a good service for free to monitor your report. and

2. With those scores , do you think I should App for the Hhgregg store card ? Do you think Id qualify ? No baddies, about 20% utilization, which will be even lower next month once I pay a large blance off. Let me know what you think Thanks guys-

Re: Credit Karma

Anonymous — Tue, 26 Feb 2013 12:54:53 GMT

From what I read, someone posted that CK doesn't take into consideration closed accounts (such as paid off auto loans), so that might cause the discreptancy.

I am not 100% sure however, so take that with a big spoonful of salt.

I don't know what scores/profiles hhgregg is looking for, so I can't help u with that. best bet is to check reviews on finance globe and CK and whogavemecredit. Hopefully people who got approved posted their info on it.

Re: Credit Karma

shorrttyycm1 — Tue, 26 Feb 2013 14:33:19 GMT

I use credit karma to keep track of what my accounts are doing but I try to ignore the score. still, gotta admit i do get nervous when i see the score drop lol.

Re: Credit Karma

dddewdrop — Tue, 26 Feb 2013 14:44:18 GMT

The scores on CreditKarma are 2 Transunion scores from different credit models than the fico one. The world of Transunion credit scores is a crowded one. There are at least 3 types of real FICO scores out there, TU98 (available on this site),TU04 (what most lenders use), TU08 (available for free with Walmart Card), TU transrisk (available on creditkarma.com ), and TU vantage score (creditkarma). So comparing your creditkarma score to another TU score is like comparing apples and oranges because they are based on different things. According to the creditkarma website,

The TransRisk score is based on a more classic credit scoring model that primarily weighs payment history, debts, length of credit history, number of recent credit inquiries, and mix of credit usage to calculate your credit score.
The VantageScore is based on the next-generation scoring model developed to help better assess consumers' creditworthiness. The VantageScore model primarily weighs your payment history, credit utilization, outstanding balances, length of credit history, recent credit, and available credit to calculate your credit score."

Of all these scores the most used one as far as I can tell is the TU04 score. To find out what yours is a lender needs to pull it. The other 2 TU FICO scores TU98 and TU08 should be close to it but you are not alone in finding that the creditkarma scores bare little resemblance to the real FICO scores. You can purchase the TU98 score on this site if you wish and that should much more accurately approximate your real TU04 score.

Re: Credit Karma

youngandcreditwrthy — Tue, 26 Feb 2013 14:45:15 GMT

It's GE backed, right?

I bet you could get a couple thou for a limit.

App!!! Assuming you have sufficient income

Re: Credit Karma

thom02099 — Tue, 26 Feb 2013 14:56:54 GMT

@Anonymous wrote:
This week I wanted to app for a new card at hhgregg . Moving into a new apartment and wanting this card. I checked my credit karma score. I was shocked to see that my Trans Union score was poor at 626. Immediatly I said " Thats not right !" . I logged into my fico account, bought my Trans Union score for today and my score was 684, Equifax was 656.

So 1. Just wanted to document that yes credit karma scores are way off, BUT its a good service for free to monitor your report. and
2. With those scores , do you think I should App for the Hhgregg store card ? Do you think Id qualify ? No baddies, about 20% utilization, which will be even lower next month once I pay a large blance off. Let me know what you think Thanks guys-

Regarding your inquiry about H H Gregg, do I think you'd qualify? Probably. Depends on who they pull, it could be EX. Do you know where you are with EX?

But as a caution, I'd suggest a Google search for reviews of the card. There's a goodly number of negative reviews about it, and you can probably get other cards that might satisfy your need. With the cards you have listed in your signature, if you're looking to spend more than your current limits, you could also try for a CLI.

Regarding CK, yup...they're only good as a tool for monitoring trends, and even there they can be off big time. My CK report has a CAP1/HSBC card that I closed some time ago as appearing again on my report. It doesn't hurt me as it was a toy limit anyway, but it's reporting. I sent CK staff a message about that, and their response was they "only report what TU provides them". So I checked my TU report direct, and the CAP1/HSBC account is showing as closed by consumer. So I'm not sure where CK is getting this, or if they are using old data for that particular account. Since it's not hurting, it's not a problem, but just another example of CK's inaccuracy.

Re: Credit Karma

Burned2manybridgesB4 — Tue, 26 Feb 2013 16:32:51 GMT

OP, if you're looking for the toys, why not try for the Wally Card, and get your TV there? It's GEMB...your scores are good for them.

Re: Credit Karma

Anonymous — Tue, 26 Feb 2013 16:51:34 GMT

@thom02099 wrote:
@Anonymous wrote:
This week I wanted to app for a new card at hhgregg . Moving into a new apartment and wanting this card. I checked my credit karma score. I was shocked to see that my Trans Union score was poor at 626. Immediatly I said " Thats not right !" . I logged into my fico account, bought my Trans Union score for today and my score was 684, Equifax was 656.

So 1. Just wanted to document that yes credit karma scores are way off, BUT its a good service for free to monitor your report. and
2. With those scores , do you think I should App for the Hhgregg store card ? Do you think Id qualify ? No baddies, about 20% utilization, which will be even lower next month once I pay a large blance off. Let me know what you think Thanks guys-
Regarding your inquiry about H H Gregg, do I think you'd qualify? Probably. Depends on who they pull, it could be EX. Do you know where you are with EX?

But as a caution, I'd suggest a Google search for reviews of the card. There's a goodly number of negative reviews about it, and you can probably get other cards that might satisfy your need. With the cards you have listed in your signature, if you're looking to spend more than your current limits, you could also try for a CLI.

Regarding CK, yup...they're only good as a tool for monitoring trends, and even there they can be off big time. My CK report has a CAP1/HSBC card that I closed some time ago as appearing again on my report. It doesn't hurt me as it was a toy limit anyway, but it's reporting. I sent CK staff a message about that, and their response was they "only report what TU provides them". So I checked my TU report direct, and the CAP1/HSBC account is showing as closed by consumer. So I'm not sure where CK is getting this, or if they are using old data for that particular account. Since it's not hurting, it's not a problem, but just another example of CK's inaccuracy.

Are you saying its showing up as open on your CK or just showing up? I have some closed accounts showing up on CK but they show as closed

Re: Credit Karma

thom02099 — Tue, 26 Feb 2013 17:52:27 GMT

@Anonymous wrote:
@thom02099 wrote:
@Anonymous wrote:
This week I wanted to app for a new card at hhgregg . Moving into a new apartment and wanting this card. I checked my credit karma score. I was shocked to see that my Trans Union score was poor at 626. Immediatly I said " Thats not right !" . I logged into my fico account, bought my Trans Union score for today and my score was 684, Equifax was 656.

So 1. Just wanted to document that yes credit karma scores are way off, BUT its a good service for free to monitor your report. and
2. With those scores , do you think I should App for the Hhgregg store card ? Do you think Id qualify ? No baddies, about 20% utilization, which will be even lower next month once I pay a large blance off. Let me know what you think Thanks guys-
Regarding your inquiry about H H Gregg, do I think you'd qualify? Probably. Depends on who they pull, it could be EX. Do you know where you are with EX?

But as a caution, I'd suggest a Google search for reviews of the card. There's a goodly number of negative reviews about it, and you can probably get other cards that might satisfy your need. With the cards you have listed in your signature, if you're looking to spend more than your current limits, you could also try for a CLI.

Regarding CK, yup...they're only good as a tool for monitoring trends, and even there they can be off big time. My CK report has a CAP1/HSBC card that I closed some time ago as appearing again on my report. It doesn't hurt me as it was a toy limit anyway, but it's reporting. I sent CK staff a message about that, and their response was they "only report what TU provides them". So I checked my TU report direct, and the CAP1/HSBC account is showing as closed by consumer. So I'm not sure where CK is getting this, or if they are using old data for that particular account. Since it's not hurting, it's not a problem, but just another example of CK's inaccuracy.
Are you saying its showing up as open on your CK or just showing up? I have some closed accounts showing up on CK but they show as closed

In the past, CreditKarma has only shown open accounts; closed accounts didn't appear there. This has been cited as one of the reasons to not take the CK scores seriously, since they don't provide the big picture. For example, CK shows only my open credit card accounts as well as open loans. But in addition to the CAP1/HSBC closed account, I have other, older (some much older) credit card accounts that show on my report as closed by consumer but don't show up on the CK report. AND when I closed this account, it did not show up on the CK report once it was closed (in Sept/2012), but re-appeared in February 2013. It still positively reports, but is just contrary to what CK has historically not done...report closed accounts. Additionally, I have loan accounts as well, but showing only 3 open. My total history, all positive/no negatives, has 41 accounts listed, but I only have 20 open accounts across all my accounts. Nothing closed shows on CK...except the CAP1/HSBC.

Re: Credit Karma

Anonymous — Tue, 26 Feb 2013 17:56:44 GMT

I have had lots of closed accounts showing up on Credit Karma including mortgages and installment loans as well as credit cards , i never had an issue with ck not showing closed accounts

Re: Credit Karma

thom02099 — Tue, 26 Feb 2013 18:03:28 GMT

@Anonymous wrote:
I have had lots of closed accounts showing up on Credit Karma including mortgages and installment loans as well as credit cards , i never had an issue with ck not showing closed accounts

WOW...that is weird. I just went back to CK and checked my report. I looked at Auto Loans, showing only one, but I've had lots of older, closed auto loans. I've had multiple mortgages but only one showing. I've had personal/unsecured loans and only 2 showing, and yet I've had several that have been closed for years, that show on my TU report as positive TL, but not via CK.

Re: Credit Karma

SpiceIslander — Tue, 26 Feb 2013 18:08:06 GMT

@shorrttyycm1 wrote:
I use credit karma to keep track of what my accounts are doing but I try to ignore the score. still, gotta admit i do get nervous when i see the score drop lol.

Huge DITTO! A few days ago, I logged in to find that my score had plunged 19 points for no reason. Util is down, increase in CL and no new inquiries. Nothing negative at all. I just chuckle. I'll soon be doing my quarterly update here, so no worries.

Re: Credit Karma

Anonymous — Tue, 26 Feb 2013 22:21:44 GMT

@thom02099 wrote:
@Anonymous wrote:
I have had lots of closed accounts showing up on Credit Karma including mortgages and installment loans as well as credit cards , i never had an issue with ck not showing closed accounts
WOW...that is weird. I just went back to CK and checked my report. I looked at Auto Loans, showing only one, but I've had lots of older, closed auto loans. I've had multiple mortgages but only one showing. I've had personal/unsecured loans and only 2 showing, and yet I've had several that have been closed for years, that show on my TU report as positive TL, but not via CK.

ok I am an idiot LOL, I am confusing USAA credit monitoring and CK I sincerely appologize

Re: Credit Karma

thom02099 — Tue, 26 Feb 2013 22:39:37 GMT

@Anonymous wrote:
@thom02099 wrote:
@Anonymous wrote:
I have had lots of closed accounts showing up on Credit Karma including mortgages and installment loans as well as credit cards , i never had an issue with ck not showing closed accounts
WOW...that is weird. I just went back to CK and checked my report. I looked at Auto Loans, showing only one, but I've had lots of older, closed auto loans. I've had multiple mortgages but only one showing. I've had personal/unsecured loans and only 2 showing, and yet I've had several that have been closed for years, that show on my TU report as positive TL, but not via CK.
ok I am an idiot LOL, I am confusing USAA credit monitoring and CK I sincerely appologize

Hey John! No worries!!!! Thought I was having a "senior moment" and that I needed to up my meds!!!

Re: Credit Karma

Anonymous — Tue, 26 Feb 2013 22:56:17 GMT

Your good to go.

Re: Credit Karma

Anonymous — Tue, 26 Feb 2013 23:14:36 GMT

Dont pay attention to ck score.Is fake score

Re: Credit Karma

LS2982 — Tue, 26 Feb 2013 23:31:59 GMT

I would say your fine for hhgregg. Hope you get a decent starting line!!

Re: Credit Karma

dddfresh — Wed, 27 Feb 2013 00:33:59 GMT

My CK score is 621 but fico TU 669!

Re: Credit Karma

Anonymous — Wed, 27 Feb 2013 00:45:06 GMT

Remember,only fico score is whats important.Forget about ck score.Your good

Re: Credit Karma

starry1 — Wed, 27 Feb 2013 01:01:52 GMT

I wish credit karma was the real scores, my scores over there are MUCH higher.