@MeCasa wrote:I read something about CreditKarma facing a semi-formiditable fine for making promises they never were going to offer.
So what value are the "outstanding" offers presented to us? I freely admit that I've taken them for granted and started letting them search for my loans.
Mike
the value is to credit karma, who gets a commission if you are approved for one of their sponsor's products, and money from the sponsors themselves to advertise on their website
credit karma is not the creditor, so they can't know for certain what your odds of approval are.
credit karma doesn't care though, because they are going to present you with offers that will earn credit karma the most in referral revenue, whether or not you're going to get approved
'outstanding' odds of approval are only a guess, a guess that may or may not be based in the reality of the lender's underwriting standards based on your credit profile and other information you provide during your application
@MeCasa wrote:That sounds about right. So, you're thinking the 3 miilion dollar fine was coffee money and surely not a reason for Credit Karma to change their ways. You get a good business model ride it till it dies.
I'm fairly new to online banking, so is there a place where one good get a idea of what is available. I've done one nonline loan so far, a Lightstream loan for $20,000 and the loan was seamless....I was impressed :-)
@MeCasa wrote:I read something about CreditKarma facing a semi-formiditable fine for making promises they never were going to offer.
So what value are the "outstanding" offers presented to us? I freely admit that I've taken them for granted and started letting them search for my loans.
Mike
My impression is that they are more realistic than they used to be.
