topic Re: Credit Karma Scoring in General Credit Topics

Credit Karma Scoring

Anonymous — Thu, 23 Feb 2017 22:09:20 GMT

Does anyone have any insight on the algorithm for the score you receive from Credit Karma? It is showing my score dropped 26 points in the last 7 days and the only change was that I paid off a card (still have balances reporting on other cards). My score stayed the same on MyFico though.

Re: Credit Karma Scoring

Anonymous — Fri, 24 Feb 2017 00:44:50 GMT

CK throws darts from 50 feet to get scores. Really, CK reports FACO scores. They swing widely. I don't put much stock in them. Get your real scores from CCTor myfico Based on CK I am way above 800 and I can only wish.

Re: Credit Karma Scoring

Anonymous — Fri, 24 Feb 2017 01:55:19 GMT

I know you are applying for a mortgage so don't worry about CK. CK scores are vantage scores and don't let it freask you out nor should you take it seriously..

Re: Credit Karma Scoring

Anonymous — Fri, 24 Feb 2017 02:34:44 GMT

But just in case you did want to optimize your vantage scores, I have found that two credit cards reporting balances are better than one reporting. So in order to make that work with your Fico scores nearly optimized as well, you would need five credit cards minimum, and three of them reporting zero balance. The other two reporting less than 29%, and total revolving utilization less than 9%. I think vantage scores focus more heavily on credit cards as opposed to charge cards and other revolving credit. I also think that vantage scores punish you more for having shorter AAoA.