topic Re: Apparently Credit Karma isn't accurate at all, huh in General Credit Topics

Apparently Credit Karma isn't accurate at all, huh

HiFromSeattle — Sat, 01 Aug 2015 17:20:58 GMT

So I bought a one-time equifax report/score directly from Equifax and then compared the numbers to Credit Karma.

While the reported balances and all of that are the same, my "real" credit score from the direct pull from Equifax is 50 points lower than what CK reports...**bleep**?!

Well, guess that makes CK basically worthless.

With that being said, I am looking for a 3 credit score/report monitoring service which I can somewhat rely on to be accurate month to month. I realize that this site has some products, but $350 a year seems a little excessive, especially only to get quartley reports.

Are there any more affordable sites out there where I can watch all 3 of the big boys for a better price (and month to month)?

Re: Apparently Credit Karma isn't accurate at all, huh

OmarGB9 — Sat, 01 Aug 2015 17:22:30 GMT

Yup CKs scores are garbage. As are their "recommendations."

Re: Apparently Credit Karma isn't accurate at all, huh

PNW_Hunter — Sat, 01 Aug 2015 17:46:35 GMT

I don't use credit karma for their scores, but I do use it for reported information such as inquirys, balances, new accounts, etc.

Re: Apparently Credit Karma isn't accurate at all, huh

Anonymous — Sat, 01 Aug 2015 17:51:37 GMT

CreditCheckTotal seems to be the product of choice right now. Gives you 3 bureau FICO 8s for $15 a month. Experian pulls daily and TU/EQ 3 times a month.

You need to sign up for free trial then cancel before it ends to get the $15 price. If you search the forum there are plenty of threads for more info.

Re: Apparently Credit Karma isn't accurate at all, huh

HiFromSeattle — Sat, 01 Aug 2015 17:52:47 GMT

Gotcha, I'll give them a shot.

FWIW, I just pulled the one time report from myfico for equifax and it is also 30+ points higher than what Equifax said...lol

Re: Apparently Credit Karma isn't accurate at all, huh

Anonymous — Sat, 01 Aug 2015 18:01:52 GMT

The scores you get here at MyFico are real Fico scores, so I'm not sure what's up with the score you pulled straight from Equifax. I know with Credit Karma, they have my TU score about 65 points lower than my real Fico, and they had my EQ 90 points lower than my real Fico, although as of yesterday CK has my EQ about 55 points lower now.. so at least their getting closer

Re: Apparently Credit Karma isn't accurate at all, huh

HiFromSeattle — Sat, 01 Aug 2015 18:10:31 GMT

I just did the $1 pull from CreditCheckTotal as well, the Equifax score matches what I got from myfico. I'm trying to coerce them into giving me the $15/month reports/scores now...lol

Re: Apparently Credit Karma isn't accurate at all, huh

Anonymous — Sat, 01 Aug 2015 18:16:15 GMT

Apparently, if you use the automated system they'll give you the $15 for 5 years; you won't even have to coerce anyone haha.

Also FYI, the daily (and 3x month) pulls won't start until after your free trial ends, probably on day 8 or so.

Re: Apparently Credit Karma isn't accurate at all, huh

HiFromSeattle — Sat, 01 Aug 2015 18:19:55 GMT

Thanks for the quick tip! I literally sat on the phone waiting for 30 minutes thinking I would need to talk to someone. As soon as I read your tip, a rep came on the line, I hung up and called back in to get the deal through the system!

Re: Apparently Credit Karma isn't accurate at all, huh

Anonymous — Sat, 01 Aug 2015 18:30:54 GMT

CK is an educational tool and nothing else.

Re: Apparently Credit Karma isn't accurate at all, huh

Anonymous — Sat, 01 Aug 2015 18:37:13 GMT

Credit Karma can be wrong by as many as 100 points. It is not at all reliable.

Re: Apparently Credit Karma isn't accurate at all, huh

Anonymous — Sat, 01 Aug 2015 18:39:08 GMT

@Anonymous wrote:
The scores you get here at MyFico are real Fico scores, so I'm not sure what's up with the score you pulled straight from Equifax. I know with Credit Karma, they have my TU score about 65 points lower than my real Fico, and they had my EQ 90 points lower than my real Fico, although as of yesterday CK has my EQ about 55 points lower now.. so at least their getting closer

I have found that myfico takes too long to update both scores and alerts. Experian Credit Tracker notifies me quickly (as does Barclay for Trans Union), and myfico can often take 7-9 days to update changes. Frustrating.

Re: Apparently Credit Karma isn't accurate at all, huh

Anonymous — Sat, 01 Aug 2015 18:48:54 GMT

@HiFromSeattle wrote:
While the reported balances and all of that are the same, my "real" credit score from the direct pull from Equifax is 50 points lower than what CK reports...**bleep**?!

Well, guess that makes CK basically worthless.

It gives you all your correct credit info, from two CRAs, for free, but not giving an accurate FICO score (also for free) makes it worthless? They only make money off CC recommendations and advertising.

I'm quite sure that the reason free sites like CK don't give accurate scores is because they can't, because they don't have access to the algorithms that generates a FICO score. Accessing the true FICO algorithms likely costs money, and that cost gets passed on to the consumer if they want to see their true FICO scores.

Re: Apparently Credit Karma isn't accurate at all, huh

Anonymous — Sat, 01 Aug 2015 19:01:15 GMT

@Anonymous wrote:
@HiFromSeattle wrote:
While the reported balances and all of that are the same, my "real" credit score from the direct pull from Equifax is 50 points lower than what CK reports...**bleep**?!

Well, guess that makes CK basically worthless.
It gives you all your correct credit info, from two CRAs, for free, but not giving an accurate FICO score (also for free) makes it worthless? They only make money off CC recommendations and advertising.

I'm quite sure that the reason free sites like CK don't give accurate scores is because they can't, because they don't have access to the algorithms that generates a FICO score. Accessing the true FICO algorithms likely costs money, and that cost gets passed on to the consumer if they want to see their true FICO scores.

Right, also it's not the CK is inaccurate, it almost certainly is accurate at producing the score that it claims to be using, Vantage Score 3.0. The problem comes in that few if any of the issuers use that in a major way. But if I look at a report pulled from here, focusing on EQ:

FIC0 845 (This is the 08 score)

FICO: 800 (Score 5, for mortgages)

OMG, FICO is inaccurate by 45 points! (If I relied on the 08 while mortgage shopping)

FICO: 847( /900) Auto score 8

FICO 817(/900) Auto score 5

FICO 873 (/900) Bankcard 8

FICO 807 (/900) Bankcard 5 So 67 points different!

At least now this site shows you those scores, but if you don't know what score an issuer users, you can get as big as a surprise as with CK

Re: Apparently Credit Karma isn't accurate at all, huh

Anonymous — Sat, 01 Aug 2015 19:11:46 GMT

My CK score is pretty accurate. It was only one point higher than the score AmEx reported as my score when they pulled my credit to approve my application.

Re: Apparently Credit Karma isn't accurate at all, huh

Anonymous — Sat, 01 Aug 2015 19:34:50 GMT

@Anonymous wrote:
FICO 873 (/900) Bankcard 8
FICO 807 (/900) Bankcard 5 So 67 points different!

Re: Apparently Credit Karma isn't accurate at all, huh

taxi818 — Sat, 01 Aug 2015 20:16:21 GMT

@HiFromSeattle wrote:
So I bought a one-time equifax report/score directly from Equifax and then compared the numbers to Credit Karma.

While the reported balances and all of that are the same, my "real" credit score from the direct pull from Equifax is 50 points lower than what CK reports...**bleep**?!

Well, guess that makes CK basically worthless.

With that being said, I am looking for a 3 credit score/report monitoring service which I can somewhat rely on to be accurate month to month. I realize that this site has some products, but $350 a year seems a little excessive, especially only to get quartley reports.

Are there any more affordable sites out there where I can watch all 3 of the big boys for a better price (and month to month)?

Simply put the scores on Equifax are also their internal scoring model. No comparison to Equifax fico score. just as Credit karma's score is the Vantage Score. how could one possible compare. apples to watermelons to grapes??

Re: Apparently Credit Karma isn't accurate at all, huh

taxi818 — Sat, 01 Aug 2015 20:17:37 GMT

@Anonymous wrote:
My CK score is pretty accurate. It was only one point higher than the score AmEx reported as my score when they pulled my credit to approve my application.

ok. if its accurate. try this on. Amex is Experian. Where on credit karma does it show an experian score??

Re: Apparently Credit Karma isn't accurate at all, huh

joem1cha3l — Sat, 01 Aug 2015 20:41:27 GMT

CK is a FAKO - completely useless.

Re: Apparently Credit Karma isn't accurate at all, huh

Anonymous — Sun, 02 Aug 2015 13:18:15 GMT

I don't mean to attack anyone personally, but this is so indicative of our "gimme now, I'm entitled" culture. CK is 100% free, and for that price you get a wealth of information. Keeping in mind that lenders do not look at only scores, I say seeing new inquiries, collections, collections removed, balance updates, etc. is a pretty valuable tool. It's a novelty, yes, with all their suggestions, etc, but it is far from being "worthless".