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Credit Karma card suggestions.

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New Contributor

Credit Karma card suggestions.

Was checking something on my BF's Credit Karma account and saw a few interesting things.

 

Their number one suggestion was the Chase Sapphire Preferred listed with a very good approval odds. Given his current situation with Chase (they cut the credit line on both his cards from $9,800 to $4,900 on his Slate and from $7,000 to $2,500 on his Freedom), it seems pretty unlikely. Among their other suggestions were the Citi Double Cash card (listed as Pre-Approved), AmEx Platimum (Very Good odds - they are probably right, given that on AmEx's site, he is pre-approved for it), and the Freedom Unlimited (Fair odds they say).

 

I presume their suggestions are based (at least in part) on which cards give them the most money for referrals, but I was a bit surprised that they felt that his odds on the CSP were Very Good, while only Fair on the Freedom Unlimited. I was thought it was interesting that they had a pre-approved offer from Citi, given their own pre-approval site no longer works.

 

As I have said before, while he is interested in a CSP, it would not be until travel returns, and he has got an Apple Card, so at least 6-8 months. :-)

14 REPLIES 14
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Valued Contributor

Re: Credit Karma card suggestions.

@AlanWynn    I would wait out your original plan to me I wouldn't take what CK suggest but with a grain of salt.










Message 2 of 15
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Valued Contributor

Re: Credit Karma card suggestions.

My guess would be very broad marketing demographics gives those odds.

Message 3 of 15
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New Contributor

Re: Credit Karma card suggestions.


@Girlzilla88 wrote:

@AlanWynn    I would wait out your original plan to me I wouldn't take what CK suggest but with a grain of salt.


Sorry if I was not clear, he has no plan to apply for the CSP until he gets a pre-approved offer from Chase, after travel makes sense again, and only after he has an Apple Card (or has determined he will never get one :-(  ). 

Message 4 of 15
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Community Leader
Super Contributor

Re: Credit Karma card suggestions.

CK's recommendations and odds of approval are a running joke here, they shouldn't be relied upon when deciding on whether or not to apply for a given card.



(7/2020)
FICO 8 (EX) 798 (TU) 800 (EQ) 793
FICO 9 (EX) 817 (TU) 815 (EQ) 812

$1M+ club

Artist formerly known as ColdFusion
Message 5 of 15
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Senior Contributor

Re: Credit Karma card suggestions.

Yup, pure marketing.

Currently rebuilding as of 04/11/2019.

Starting Scores:
EX 518
EQ 518
TU 521

Current FICO scores:
EX 622
EQ 569
TU 613
Message 6 of 15
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Regular Contributor

Re: Credit Karma card suggestions.

I get the same very good approval odds with the CSP through CK. And there's no way they are handing me a card




Message 7 of 15
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Frequent Contributor

Re: Credit Karma card suggestions.

Agreed with everything here....for example, I got the Citi notice on my account with them too....but if you go to Citi's actual website, they are not doing preapprovals right now on any product so....I doubt they have some connection to the bank to add credability to their preapprovals other than "odds" based on other users experience.

Message 8 of 15
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Moderator

Re: Credit Karma card suggestions.


@the_old_curmudgeon wrote:

CK's recommendations and odds of approval are a running joke here, they shouldn't be relied upon when deciding on whether or not to apply for a given card.


Case in point I usually have poor or fair approval odds for secured cards and fee harvester cards, poor approval odds for all non-Amex cards listed in my signature that appear in their database, and excellent approval odds for all Amex cards while Amex uses Experian scores and Credit Karma has no access to my Experian reports. 

Message 9 of 15
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Community Leader
Super Contributor

Re: Credit Karma card suggestions.


@cashorcharge wrote:

Agreed with everything here....for example, I got the Citi notice on my account with them too....but if you go to Citi's actual website, they are not doing preapprovals right now on any product so....I doubt they have some connection to the bank to add credability to their preapprovals other than "odds" based on other users experience.


They do have another connection - if you click through CK to apply for a card they collect what is in effect a referral fee.



(7/2020)
FICO 8 (EX) 798 (TU) 800 (EQ) 793
FICO 9 (EX) 817 (TU) 815 (EQ) 812

$1M+ club

Artist formerly known as ColdFusion
Message 10 of 15
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