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Credit Karma: Huge Discrepency

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Regular Contributor

Credit Karma: Huge Discrepency

Lately I've been working on repairing my credit and made great progress so far, only 2 chargeoff's left that I'm working to get removed. So this morning Credit Karma decided to lose it's mind. It alerted to a balance update, when I opened the app it showed Equifax dropped 56 points. When checking the list of updates it provided it showed the following:

 

Removed Address

Removed Address

Removed Address

Updated Balance (Utilization on Individual Card from 47% to 27%)

 

When I double checked to see if there was a similar drop on myFICO it actually was the opposite it had increased 4 points. Notably CK had been reporting me at 656 (now at 600) while myFICO was reporting me at 610 (now at 614) for Equifax. Anyone else ever seen this before?

FICO 8
Starting Score:
10/15/2016
562
583
534
Current Score:
11/04/2018
623
674
638


Message 1 of 4
3 REPLIES 3
Valued Contributor

Re: Credit Karma: Huge Discrepency


@cyrusvalentinowrote:

Lately I've been working on repairing my credit and made great progress so far, only 2 chargeoff's left that I'm working to get removed. So this morning Credit Karma decided to lose it's mind. It alerted to a balance update, when I opened the app it showed Equifax dropped 56 points. When checking the list of updates it provided it showed the following:

 

Removed Address

Removed Address

Removed Address

Updated Balance (Utilization on Individual Card from 47% to 27%)

 

When I double checked to see if there was a similar drop on myFICO it actually was the opposite it had increased 4 points. Notably CK had been reporting me at 656 (now at 600) while myFICO was reporting me at 610 (now at 614) for Equifax. Anyone else ever seen this before?


I haven't seen it personally, but I have read of CK doing funky things to numerous folks here. I wouldn't stress it Smiley Happy

Ch 7 Discharge May 2015
Discover/Target/NFCU CLOC/NFCU Cash Rewards/PenFed Power Cash Rewards/PenFed Pathfinder AMEX - $60k total revolving
EQ/EX/TU: FICO 8's Sept 2019: 696/676/670, 25% utilization, INQ's: 0/0/1
New approvals based on this data: Costco Anywhere Visa $5500, NFCU Platinum $25k
Message 2 of 4
Super Contributor

Re: Credit Karma: Huge Discrepency

Problem #1 here is that you're looking at CK (VS 3.0) scores.  Don't look at them.  They aren't relevant.  You already clearly have your FICO scores, so you're on the right track there.  Just look at how those FICO scores change over time based on different events such as baddies falling off, utilization being reported as lower, etc.  People have reported their VS 3.0 scores as much as 100 points higher or lower than their FICO scores, so relative to FICO they can be way off and certainly not comparable by any means.  I've also seen people report that event X cause their FICO scores to go up, while event X caused their VS 3.0 scores to drop.  Don't drive yourself nuts and just ignore the CK scores.

Message 3 of 4
Frequent Contributor

Re: Credit Karma: Huge Discrepency

I've learned to take Credit Karma with a massive grain of salt.

 

When I made a one-time payment (something like 80% to 40% Utilization) on my credit cards after reciving a bonus at work, Credit Karma showed at 40 point drop. myFico didn't show a drop at all and over the following week my scores with them climbed back up to where they were. myFico eventually climbed up more while Credit Karma lagged behind. 

Fast forward a month-ish and they're back in line. 

I can only assume the Vantage scoring model doesn't appreciate such dramatic shifts. 

Message 4 of 4
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