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Anyone else sick of Credit Karma's inaccuracies?

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Anonymous
Not applicable

Anyone else sick of Credit Karma's inaccuracies?

First, the lack of an accurate credit score. 

 

Second, the inconsistencies and lack of common sense from the site's algorithms apparently. 

 

1. My approval odds for "Capital One Quicksilver One," are poor, yet my approval odds for "Capital One Quicksilver are "fair." Okay? How does that make sense. 

 

And then of course, most cards are listed as "N/A" approval odds for some reason. 

 

Starting to distrust CK more and more. The site seems to get worse instead of better... Especially with the credit score simulator. 

43 REPLIES 43
Aprile421
Regular Contributor

Re: Anyone else sick of Credit Karma's inaccuracies?

Credit Karma is only good for viewing what is on your reports like accounts, inquiries and any derogatory information posted to your credit report. The scores are not accurate. If you look they say Vantage scores for educational purpose only. They are not true Fico scores. Very few companies use Vantage scores to for credit approval so there is no way Credit Karma can accurately tell you your chances based off a Vantage Score. 

Message 2 of 44
Anonymous
Not applicable

Re: Anyone else sick of Credit Karma's inaccuracies?

It just annoys me when it says I have a better shot at approval for a big brother version of the Quicksilver card than the little brother version. 

 

Like even with inaccurate credit scores, their system should have some more common sense than that. 

Message 3 of 44
RonM21
Valued Contributor

Re: Anyone else sick of Credit Karma's inaccuracies?


@Anonymous wrote:

It just annoys me when it says I have a better shot at approval for a big brother version of the Quicksilver card than the little brother version. 

 

Like even with inaccurate credit scores, their system should have some more common sense than that. 


Unfortunately, they can be way way off. That is why it is generally known to completely disregard their scores and offers. I only use them just to compare the info on my reports, more or less as another tool.

 

One of the other issues, is at least where I am in Pittsburgh (but I suspect all over), their commercials are all over the place. Over and over. Due to this, I believe many new and or innocent people to credit just assume these scores and the sight must be seriously what they can use and go by. This, not knowing the score is different from what most lenders use, and the approval odds on the site are a guess at best. 

 

I'd be willing to bet many of the people who post on here and incorrectly reference their CK scores as real scores, signed up for them based off their advertising being the most advertised credit scores on tv. And of course, it is free.



Total CL: $321.7kUTL: 2%AAoA: 7.0yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k | NFCU-45k | AMEX-42k | DISC-40.6k | PENFED-38.4k | LOWES-35k | ALLIANT-25k | CITI-15.7k | BARCLAYS-15k | CHASE-10k

Message 4 of 44
kdm31091
Super Contributor

Re: Anyone else sick of Credit Karma's inaccuracies?

Well, it's a free service. You can only expect so much. The scores are not accurate, but the information such as inquiries, new accounts, etc is accurate and beats paying to access it.

Message 5 of 44
Anonymous
Not applicable

Re: Anyone else sick of Credit Karma's inaccuracies?

And what is up with the "N/A" approval odds on so many cards? Like is their system so lazy, it can't even give me inaccurate approval odds for most of their cards, on top of not being able to do anything else right? The owner of the site seems like a crook to put it nicely. 

Message 6 of 44
tcbofade
Super Contributor

Re: Anyone else sick of Credit Karma's inaccuracies?


@Anonymous wrote:

And what is up with the "N/A" approval odds on so many cards? Like is their system so lazy, it can't even give me inaccurate approval odds for most of their cards, on top of not being able to do anything else right? The owner of the site seems like a crook to put it nicely. 


Yeah?  Tell us what the crook took from you.

 

It is a free service.  If you're not satisfied with the free service, stop using it.

 

That'll teach 'em. 

02/01/24 Fico 8: EX 757, EQ 803, TU 783.
Fico 9: EX 760 12/16/23, EQ 790 02/04/24, TU No idea.

Zero percent financing is where the devil lives...
Message 7 of 44
Anonymous
Not applicable

Re: Anyone else sick of Credit Karma's inaccuracies?


@kdm31091 wrote:

Well, it's a free service. You can only expect so much. The scores are not accurate, but the information such as inquiries, new accounts, etc is accurate and beats paying to access it.


It's "free" until you fall for their crap, click on a link to a card, get denied and a HP, and they get paid for it.

 

Message 8 of 44
Aprile421
Regular Contributor

Re: Anyone else sick of Credit Karma's inaccuracies?

I will admit before I found this site I thought Credit Karma and the other free sites that offered free credit scores were accurate. It wasn't until I came here that I learned the difference between my true FIco score and a Vantage score.

 

For fun I will go to the actual credit card site that I am interested in and do a pre qual. I know some of them still aren't accurate but it is fun going to sites like Capital One, Chase and a few others who have pretty solid pre qual sites and seeing that I am now eligiable for a higher tiered card than I have. I spent a lot of time rebuilding and had the Capital One Plat and Quicksilver one. For a very long time even after I combined my plat into my quicksilver I would check the pre qual site and the Quicksilver one or Venture One would come up as a pre qual. It made me so happy one day when I checked and The Quicksilver Visa Signature and real Venture card popped up with sign up bonuses. I knew I was finally getting somewhere with my credit.

Message 9 of 44
Anonymous
Not applicable

Re: Anyone else sick of Credit Karma's inaccuracies?

 

There is such a huge difference in my FAKO vs FIKO scores.. 

Today my TransUnion is 44 points lower on Credit Karma... and my Equifax is 21 points lower than my actual FICO 8's! 

 

That is par for the course though!  

 

I usually just have it for what other posters state - to check whats reporting... also to notice a trend of going up !  or going down! 

 

I too get frustrated since it is not even the actuals .. I don't get the better card offerings ! 

Makes you wonder if they are just bottom feeding into getting more apps for the subprime.... 

 

Not sure the angle.... but its FREE ... if it weren't for sites like this .. we would not know that these aren't the scores most creditors go by. 

 

It's all good.... because we know the truth here on myFICO...  Smiley Happy 

Message 10 of 44
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