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SOOO DOES CREDIT KARMA USE FICO? OR HOW DO THEY CALCULATE YOUR SCORE? OR WHAT SCORING SYSTEM? THANKS | ||
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You may transfer your account to Credit Karma at no charge. After the transfer, your credit score history and account details will be available onwww.CreditKarma.com. Click on to transfer your account to Credit Karma. Or, you can access your credit report at AnnualCreditReport.com.
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Credit Karma provides 3 credit scores,
* Transrisk
In-house TU credit score. No lender uses this score.
* VantageScore
Score developed by EX/EQ/TU as an alternative to FICO, with more focus on recent credit activity. Chase and some lenders use this score. Ranges from 501-990.
* Insurance Score
Used by auto insurance company as a factor for calculating your rates.
I'm happy about this.
Before I found this forum I had already signed up for the Sears Credit Score, not realizing it was a CK score. However, that's all it did - provide a score and nothing else. Later when I tried to create an account with Credit Karma I was not eligible, as they said I had to stay with Sears. Been almost a year and I've still not been able to create a CK account. I'll go try it now using their link, and post back with an update.
UPDATE:
I logged into my Sears account and didn't get any type of message like this, but I was finally allowed to sign up for a CK account just by going there and registering - no longer blacklisted because I have an existing Sears Credit Score account. Yeah me!
Bears - sent you a PM.
Chase uses VantageScore rather than FICO? This is interesting. I guess I didn't give CK enough credit.
thats awesome that you were able to get a credit karma account ima just let it get deleted or expired sine they say that credit karam doesnt give you a score that lenders usually pull. Just wanted to give sears card holders a heads up
@HiLine wrote:Chase uses VantageScore rather than FICO? This is interesting. I guess I didn't give CK enough credit.
Chase alternates between Vantage, FICO, and Chase in-house credit score.
Did you know there are 49 FICO scoring models out there, with each model calculates score differently? We simply call them FICO because they came from FICO.
So the score you get from here and Walmart might be used by some lenders but not others!
@trumpet-205 wrote:
@HiLine wrote:Chase uses VantageScore rather than FICO? This is interesting. I guess I didn't give CK enough credit.
Chase alternates between Vantage, FICO, and Chase in-house credit score.
Did you know there are 49 FICO scoring models out there, with each model calculates score differently? We simply call them FICO because they came from FICO.
So the score you get from here and Walmart might be used by some lenders but not others!
Woah the number 49 blew my mind! OK, now I know the majority of those are from antiquated models that no one is using nowadays
Thanks a lot for the link. I will take the time to dig into it soon!