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Credit Karma card suggestions.

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New Contributor

Re: Credit Karma card suggestions.

Credit Karma says I have high approval odds for the Citi secured card.... which I already have Smiley Frustrated so take that as you may



FICO: 575 Exp, 5 Inquiries, AAoC 4 years, AoOA 6 years, 7 months
Message 11 of 15
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New Contributor

Re: Credit Karma card suggestions.

Credit Karma tells me I have very poor approval odds for the credit cards I already have. So that should tell you something 🤣

Message 12 of 15
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New Contributor

Re: Credit Karma card suggestions.


@Luna3323 wrote:

Credit Karma tells me I have very poor approval odds for the credit cards I already have. So that should tell you something 🤣


Actually, that does not say much. :-) It is very possible that one has a card that one could not qualify for at the moment. For example, one gets a new card putting one at 6 cards in 24 months, one would have low odds of getting the Chase cards one already has. :-)

 

I am curious as to how they (and all these sites) get paid for referrals. Do they get paid if I click through and then leave, click through and complete the application and am denied the card, or only if I get the card? It is clear that they (and many other sites) only recommend cards for which they can get referral bonuses and that their disclaimer ("We suggest offers based on your credit, Approval Odds, and money we make from our partners.") is a bit disingenuous in that it implies that it is just one factor, where as it really is the gating factor. They would never recommend a card that would be perfect for you if they were not going to get paid.

 

Message 13 of 15
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Member

Re: Credit Karma card suggestions.

Credit Karma may be taking your income into account for its recommendations, no idea. But if your employer uses ADP and you're signed up for Credit Karma, odds are decent they're getting all your paycheck info.

 

Google "The Work Number Equifax" and get a free (under the FCRA) copy of your "Employment Data Report." I was livid when I found out they were directly getting my payroll. Even my employer was not aware of it. Be wary of Mint, too. I think they have just started offering free credit reports, but at what cost -- getting your payroll and selling it to all their 'trusted partners' (anyone who will pay)? I have no idea if Mint is doing this, but since they bought Credit Karma it wouldn't surprise me.

 

 

Message 14 of 15
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Community Leader
Senior Contributor

Re: Credit Karma card suggestions.

I know of only one or two examples where CKs suggestions are of interest.... and beyond marketing.... certain "invite only" rebuilder cards... that are .. Thinking Merrick and Ollo... may be others... other than that they are just marketing fluff...

 

-J

 

Message 15 of 15
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