topic Re: Credit Karma and Sesame in General Credit Topics

Credit Karma and Sesame

Anonymous — Wed, 06 Sep 2017 02:50:54 GMT

Why are these scores so different and can we use these scores to our advantage
these scores are 60 points lower than Fico very disappointed! Please give advice!

Re: Credit Karma and Sesame

AverageJoesCredit — Wed, 06 Sep 2017 02:57:22 GMT

Credit Karma uses Vantage 3.0 and most likely Sesame as well, someone can chime in on that.These arent widely used scores and can be as much as 100 points below or above your actual ficos. CK is good to monitor your reports, scores not so much.

Re: Credit Karma and Sesame

Anonymous — Wed, 06 Sep 2017 03:12:02 GMT

There commercials are very misleading

Re: Credit Karma and Sesame

mkhan1093 — Wed, 06 Sep 2017 03:22:21 GMT

Yeah as AJC mentioned, they provide accurate reports but use a different algorithm to arrive at a score which takes into account different things and weighs certain things differently. Banks most likely won't look at these scores whenever they need to do a credit check.

Re: Credit Karma and Sesame

Anonymous — Wed, 06 Sep 2017 06:52:26 GMT

This issue comes up quite a bit...and honestly YES the commercials are "over reaching" IMO

BUT, c'mon ADULT consumers also have to LOOK and READ the box!!!

They said it's breakfast cereal
They said it taste GREAT
They it has Flakes
They said it's Frosted with Sugar

But it ain't Kellogg's brand Frosted Flakes unless it says so and actually has Tony on the box....all those other 'look-a-like' taste similar store brand/generic products can ONLY be "somewhat" LIKE Frosted Flakes

So why witch, moan and be Shocked and Surprised that it ain't EXACTLY the same as the NAME BRAND?

You didn't BUY the name brand, did you?

In what DREAMLAND is the "name brand" given away for FREE when the actual owners of the brand (FICO) makes their 💰 selling the name brand...if grown ups THINK it out they'd see that's a SILLY notion

Plus, it's right there on the site...it says those scores are 'educational' in nature produced using the Vantage Scoring model...now that should ring the bell of WHO THE FREAK is Vantage?
That isn't FICO...duh?

The same way the Free/Cheap
Toasted Sugar Flakes ain't
Frosted Flakes

*As mentioned the actual REPORT and monthly INFO that CK opens up and shows is legit and that is of value to know what's on the reports, what may have changed etc so CK has it's place and does a good job, especially as a freebie
They add to the mix, these 'alternative' score as an 'extra' that confuses ppl but sure you can call it a cola but it isn't the Coke Cola that many are going to assume that it is.

My advice, take the Free coffee, leave the stale doughnuts...not a big deal, the coffee is fine...Dem doughnuts ain't Krispy Kreme though 😫

Re: Credit Karma and Sesame

SouthJamaica — Wed, 06 Sep 2017 18:15:38 GMT

@AverageJoesCredit wrote:
Credit Karma uses Vantage 3.0 and most likely Sesame as well, someone can chime in on that.These arent widely used scores and can be as much as 100 points below or above your actual ficos. CK is good to monitor your reports, scores not so much.

Yes Credit Sesame also uses Vantage 3.0.

Re: Credit Karma and Sesame

SouthJamaica — Wed, 06 Sep 2017 18:17:25 GMT

@Anonymous wrote:
Why are these scores so different and can we use these scores to our advantage
these scores are 60 points lower than Fico very disappointed! Please give advice!

Why is it disappointing that there are different scoring models in the world?

Re: Credit Karma and Sesame

Anonymous — Wed, 06 Sep 2017 20:16:49 GMT

He's not disappointed that there are different models, just that his non-fico scores are not of the same caliber as his FICO scores.

Re: Credit Karma and Sesame

Anonymous — Wed, 06 Sep 2017 22:58:41 GMT

Definitely Thank you

Re: Credit Karma and Sesame

Anonymous — Wed, 06 Sep 2017 23:03:07 GMT

I think I'll work on my Fico not fako score some more ...
I don't do generic anything ...
I move on to the real thing if I made a misjudgment shame on me and keep trying hard like I always do! Have a great day!

Re: Credit Karma and Sesame

Anonymous — Thu, 07 Sep 2017 01:20:08 GMT

In fairness FICO had been as defacto 'the' credit score and for lenders still is....

But newer models obviously can and have used the term credit score and frankly they are credit scores, just not the ONE folks are going to assume is being spoken of.

If a guy says he plays Pro Football, sorry Canada...we aren't thinking CFL...

The funny thing is who knows, which is actually a better indicator or measure, the newer stuff might actually be better but FICO has the inroads, the history and is what over 90% use rightly or wrongly

McDonald's is nowhere near the best burger but they have the juice, so Burgers=McDonald's to a certain degree.

Whereas Band-Aid brand means jack squat
For the most none of us care whether it's Curaid or Krogers or Bert and Ernie, as long as it's a bandage that covers the wound.

FICO from a business POV is in a enviable position that they only make better by releasing and having multiple models, versions and enhancement 'recipes'

When the CRAs themselves tried to use their experience and obvious position of importance to create create a new model the Vantage Score ( Yes, TU, EQ & EX) the very data reporters themselves, who else would be in such a great position and have the credibility needed to come up with a new model

Makes perfect sense right?
Not if you're FICO and ya got LAWYERS, hence the Vantage Score becomes the Queen of "B' movies probably never to be a 'A' lister, even if Oscar worthy😉

Re: Credit Karma and Sesame

Anonymous — Thu, 07 Sep 2017 17:45:49 GMT

Well put gemini.