topic Re: I swear Credit Karma is drunk in General Credit Topics

I swear Credit Karma is drunk

Anonymous — Wed, 10 Feb 2016 12:41:45 GMT

Everyone here knows not to rely on credit karma for scores, myself included. My fico08's are in my signature below.

So today it was the 7 day mark and I am always curious to see whats updated so I log in to find my transunion score plummets 100 points, and the only changes there are a $3400 increase in a credit limit reported and (randomly) an inquiry from cap1 in March 2015 was removed. Okay I see.....that definitely is horrible credit activity!

So Equifax you little devil...

Randomly reports an old paid off collection account as open...

And zero change to that score at all..which was already 80+ points lower than my fico08.

Credit utillization from went 2% to 1% on both bureaus, Credit karmas way of calculating age of accouns...well i increased there also....LOL
This post isnt me expressing sincere concern over my scores at Credit Karma, I just wonder if whoever is punching these formulas in at a desk somewhere is drinking on the job????????

Re: I swear Credit Karma is drunk

takeshi74 — Thu, 11 Feb 2016 14:47:16 GMT

@Anonymous wrote:
Everyone here knows not to rely on credit karma for scores, myself included.

That is a gross oversimpflication.

For any score you need to consider the specific scoring model and its relevance to a given creditor/product. The Vantagescores provided by CK are relevant to creditors that use a TU or EQ Vantagescore 3.0. They are not relevant to those who do not. The same sort of consideration matters for any scoring model including the various FICO's used by creditors. FICO 8 is the most commonly used model but it is not used by all creditors/products and your FICO 8's will not be relevant to them. The scores that they use in their decision can differ from your FICO 8's even if they use another FICO model.

You cannot use a score generated by one model to determine a score generated by another model. They do not have causal relationships to each other. Different models evaluate report data differently and can have different scoring ranges. Again, this applies even to FICO models. Two models may produce similar numbers or even the same numbers under certain conditions but that is coincidence. Remember that coincidental and causal are two entirely different things.

Do not assume that all scores should be equivalent. Even FICO models will produce different results and may not even trend the same way.

Re: I swear Credit Karma is drunk

JcT21 — Thu, 11 Feb 2016 15:23:14 GMT

i hear ya. i check mine every week out of curiosity. my ck scores are in the 650's while my fico's are in the 700's. over a 60+ point difference. i swear, if my fico goes up, my ck goes down. never fails. but yeah, i get the whole vantage and its not a fico thing but still, makes ya wonder if someone is drinking on the job :-)

Re: I swear Credit Karma is drunk

MyLoFICO — Thu, 11 Feb 2016 20:35:52 GMT

Well said. Is there anywhere here that tells each model and how they calculate it? Or, anywhere on the web? I would like to learn more. Also, can you ask a creditor what kind of model they use before they HP? Maybe if one knows thier score for that particular model they can get a better suited lender for their highest scoring model?

Never mind. I just found the Credti Score 101 thread.

Re: I swear Credit Karma is drunk

Anonymous — Thu, 11 Feb 2016 19:05:18 GMT

@Anonymous wrote:
Everyone here knows not to rely on credit karma for scores, myself included. My fico08's are in my signature below.
So today it was the 7 day mark and I am always curious to see whats updated so I log in to find my transunion score plummets 100 points, and the only changes there are a $3400 increase in a credit limit reported and (randomly) an inquiry from cap1 in March 2015 was removed. Okay I see.....that definitely is horrible credit activity!
So Equifax you little devil...
Randomly reports an old paid off collection account as open...
And zero change to that score at all..which was already 80+ points lower than my fico08.
Credit utillization from went 2% to 1% on both bureaus, Credit karmas way of calculating age of accouns...well i increased there also....LOL
This post isnt me expressing sincere concern over my scores at Credit Karma, I just wonder if whoever is punching these formulas in at a desk somewhere is drinking on the job????????

Yep. LOL

Re: I swear Credit Karma is drunk

Anonymous — Thu, 11 Feb 2016 22:12:43 GMT

I imagine you can spend hours, days or months trying to figure out CK scoring - why bother? It is kind of fun to see the variance between Fico and VS. Mine varied by 100 points, this week they almost caught up to Fico. I couldnt help myself but try to understand what happened to your CK score, with the info provided - SMH

Like you said, most of us are focused on Fico 8 and other versions for scoring. Pay your bills on time, use just enough credit (mix) to keep the powers that be happy and dont apply too often and garden like you have a green thumb.

I tend to find a glass of wine makes all of this make much better sense.

Re: I swear Credit Karma is drunk

Dalmus — Fri, 12 Feb 2016 15:26:17 GMT

@takeshi74 wrote:
@Anonymous wrote:
Everyone here knows not to rely on credit karma for scores, myself included.
That is a gross oversimpflication.

For any score you need to consider the specific scoring model and its relevance to a given creditor/product. The Vantagescores provided by CK are relevant to creditors that use a TU or EQ Vantagescore 3.0. They are not relevant to those who do not. The same sort of consideration matters for any scoring model including the various FICO's used by creditors. FICO 8 is the most commonly used model but it is not used by all creditors/products and your FICO 8's will not be relevant to them. The scores that they use in their decision can differ from your FICO 8's even if they use another FICO model.

You cannot use a score generated by one model to determine a score generated by another model. They do not have causal relationships to each other. Different models evaluate report data differently and can have different scoring ranges. Again, this applies even to FICO models. Two models may produce similar numbers or even the same numbers under certain conditions but that is coincidence. Remember that coincidental and causal are two entirely different things.

Do not assume that all scores should be equivalent. Even FICO models will produce different results and may not even trend the same way.

Very true. The problem is very very few lenders out there USE a Vantagescore for unitial approvals.

Re: I swear Credit Karma is drunk

Anonymous — Sat, 13 Feb 2016 02:55:45 GMT

@takeshi74 wrote:
@Anonymous wrote:
Everyone here knows not to rely on credit karma for scores, myself included.
That is a gross oversimpflication.

For any score you need to consider the specific scoring model and its relevance to a given creditor/product. The Vantagescores provided by CK are relevant to creditors that use a TU or EQ Vantagescore 3.0. They are not relevant to those who do not. The same sort of consideration matters for any scoring model including the various FICO's used by creditors. FICO 8 is the most commonly used model but it is not used by all creditors/products and your FICO 8's will not be relevant to them. The scores that they use in their decision can differ from your FICO 8's even if they use another FICO model.

You cannot use a score generated by one model to determine a score generated by another model. They do not have causal relationships to each other. Different models evaluate report data differently and can have different scoring ranges. Again, this applies even to FICO models. Two models may produce similar numbers or even the same numbers under certain conditions but that is coincidence. Remember that coincidental and causal are two entirely different things.

Do not assume that all scores should be equivalent. Even FICO models will produce different results and may not even trend the same way.

Thank you for taking the time to explain all this information. I can assure you I am fully aware of the differences between fico and vantage and I was simply making a humorous post over the differences in the scoring models and how much the scores can variate.

But again, thanks.

Re: I swear Credit Karma is drunk

elim — Sat, 13 Feb 2016 03:08:32 GMT

IMO Vantage 3 is a pretty good model, Yes it has some pretty big swings but there is a reason. And V3 scores swing back pretty fast. And FYI... The model is a joint effort by, and developed by the big 3 CRA's. I'm hoping it catches on as it forgives much sooner than FICO. I would think 3 years of responsible credit usage would be fine.

But you are right. The scores move around quite a bit vs FICO. My scores since july 14'...

Re: I swear Credit Karma is drunk

Anonymous — Sat, 13 Feb 2016 03:11:23 GMT

@elim wrote:
IMO Vantage 3 is a pretty good model, Yes it has some pretty big swings but there is a reason. And V3 scores swing back pretty fast. And FYI... The model is a joint effort by, and developed by the big 3 CRA's. I'm hoping it catches on as it forgives much sooner than FICO. I would think 3 years of responsible credit usage would be fine.

But you are right. The scores move around quite a bit vs FICO. My scores since july 14'...

That is one handy dandy little chart ya got there pal

Re: I swear Credit Karma is drunk

elim — Sat, 13 Feb 2016 03:12:07 GMT

@Anonymous wrote:
I imagine you can spend hours, days or months trying to figure out CK scoring - why bother? It is kind of fun to see the variance between Fico and VS. Mine varied by 100 points, this week they almost caught up to Fico. I couldnt help myself but try to understand what happened to your CK score, with the info provided - SMH

Like you said, most of us are focused on Fico 8 and other versions for scoring. Pay your bills on time, use just enough credit (mix) to keep the powers that be happy and dont apply too often and garden like you have a green thumb.

I tend to find a glass of wine makes all of this make much better sense.

well said (as i pour a glass)

Re: I swear Credit Karma is drunk

Anonymous — Sat, 13 Feb 2016 03:13:26 GMT

@elim wrote:
@Anonymous wrote:
I imagine you can spend hours, days or months trying to figure out CK scoring - why bother? It is kind of fun to see the variance between Fico and VS. Mine varied by 100 points, this week they almost caught up to Fico. I couldnt help myself but try to understand what happened to your CK score, with the info provided - SMH

Like you said, most of us are focused on Fico 8 and other versions for scoring. Pay your bills on time, use just enough credit (mix) to keep the powers that be happy and dont apply too often and garden like you have a green thumb.

I tend to find a glass of wine makes all of this make much better sense.
well said (as i pour a glass)

Sir Mam,

I have 45 more minutes before I can leave work and partake in this wine activity.

<<<Jealous

Re: I swear Credit Karma is drunk

elim — Sat, 13 Feb 2016 03:14:02 GMT

@Anonymous wrote:
@elim wrote:
IMO Vantage 3 is a pretty good model, Yes it has some pretty big swings but there is a reason. And V3 scores swing back pretty fast. And FYI... The model is a joint effort by, and developed by the big 3 CRA's. I'm hoping it catches on as it forgives much sooner than FICO. I would think 3 years of responsible credit usage would be fine.

But you are right. The scores move around quite a bit vs FICO. My scores since july 14'...

That is one handy dandy little chart ya got there pal

That's what it looks like when you app every 3 to 6 months. I'm hoping to take a break now.

Re: I swear Credit Karma is drunk

Anonymous — Sat, 13 Feb 2016 03:31:44 GMT

I also hope to take a break, but sometimes I get the itch and cant help it.