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Is Credit Karma just a waste of time?

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Established Contributor

Re: Is Credit Karma just a waste of time?


@SouthJamaica wrote:
 I recognize that it does update TU & EQ reports on a weekly basis, but to tell you the truth, I do find it a waste of time.

I echo @SouthJamaica, as it relates to Credit Karma being a waste of time.  

 

Let me be very specific:

 

We all agree the Vantage scores are at best of limited to dubious value.  But the CreditKarma defense is often "weekly monitoring of TU, etc".  If you are going to use this rationale, why not offer up a better solution:  There is a similar site with daily updates of the same.  Or, if you really want to be on top of you game, utilize the Experian method and stagger "bi weekly" full FICO score checks.   Not to mention, I dont have a lot of cards, but I have 4 distinct credit card companies that provide a reasonable level of active monitoring of these events sent to me if I dont want to be checking in weekly for something new on my file.   (Amex, Discover, Cap One, Citi, and I don't even have Amex or Cap One cards anymore)

 

So yeah, in my opinion CK specifically is an actual waste of time - you can get better detail elsewhere actively, or let the same detail come to you passively.    

 

 

050719:     
081719:     

A regretful expert. I have repaired before, I will repair again. My current goal is 670 FICO08 across the board by November 2019.
Message 11 of 22
Valued Contributor

Re: Is Credit Karma just a waste of time?


@BallBounces wrote:

@SouthJamaica wrote:
 I recognize that it does update TU & EQ reports on a weekly basis, but to tell you the truth, I do find it a waste of time.

I echo @SouthJamaica, as it relates to Credit Karma being a waste of time.  

 

Let me be very specific:

 

We all agree the Vantage scores are at best of limited to dubious value.  But the CreditKarma defense is often "weekly monitoring of TU, etc".  If you are going to use this rationale, why not offer up a better solution:  There is a similar site with daily updates of the same.  Or, if you really want to be on top of you game, utilize the Experian method and stagger "bi weekly" full FICO score checks.   Not to mention, I dont have a lot of cards, but I have 4 distinct credit card companies that provide a reasonable level of active monitoring of these events sent to me if I dont want to be checking in weekly for something new on my file.   (Amex, Discover, Cap One, Citi, and I don't even have Amex or Cap One cards anymore)

 

So yeah, in my opinion CK specifically is an actual waste of time - you can get better detail elsewhere actively, or let the same detail come to you passively.    

 

 


I use EX for daily EX monitoring, CK for EQ monitoring, and WalletHub for daily TU.


I would say, the best reason (for me) that CK is not a waste of time is the CBIS (TU) and the EQ monitoring.




Garden goal: keep on keepin' on until 2020.
Message 12 of 22
Established Contributor

Re: Is Credit Karma just a waste of time?


@BallBounces wrote:

@SouthJamaica wrote:
 I recognize that it does update TU & EQ reports on a weekly basis, but to tell you the truth, I do find it a waste of time.

I echo @SouthJamaica, as it relates to Credit Karma being a waste of time.  

 

Let me be very specific:

 

We all agree the Vantage scores are at best of limited to dubious value.  But the CreditKarma defense is often "weekly monitoring of TU, etc".  If you are going to use this rationale, why not offer up a better solution:  There is a similar site with daily updates of the same.  Or, if you really want to be on top of you game, utilize the Experian method and stagger "bi weekly" full FICO score checks.   Not to mention, I dont have a lot of cards, but I have 4 distinct credit card companies that provide a reasonable level of active monitoring of these events sent to me if I dont want to be checking in weekly for something new on my file.   (Amex, Discover, Cap One, Citi, and I don't even have Amex or Cap One cards anymore)

 

So yeah, in my opinion CK specifically is an actual waste of time - you can get better detail elsewhere actively, or let the same detail come to you passively.    

 

 


You’re making the same mistake as most. You are conflating Credit Karma with Vantage. Credit Karma is a waste of time becaue they don’t provide the Vantage score on the schedule that you would prefer, does not make sense.

 

Credit Karma is a company that has a business that provides free scores and reports in exchange for the ability to market to you. Same way Google and Facebook works. They don’t own or create the Vantage score. They have as much to do with it as you and me. The Vantage score is owned by Experian, TransUnion and Equifax. They created it to compete with FICO. If Credit Karma went out of business tomorrow, Vantage scores would still exist. It’s funny people associate FICO with EX, TU, EQ when they actual own Vantage and not FICO.

That would be fine “for the uninitiated, but we are initiated”...said Bane

 

People may feel the Vantage score is useless and the extrapolate that to Credit Karma. I don’t find Ford useless because they make cars I don’t drive.

I just returned from financial hell. Don't go, the brochure is a lie.
Message 13 of 22
Established Contributor

Re: Is Credit Karma just a waste of time?


@Morpho wrote:

@BallBounces wrote:

@SouthJamaica wrote:
 I recognize that it does update TU & EQ reports on a weekly basis, but to tell you the truth, I do find it a waste of time.

I echo @SouthJamaica, as it relates to Credit Karma being a waste of time.  

 

Let me be very specific:

 

We all agree the Vantage scores are at best of limited to dubious value.  But the CreditKarma defense is often "weekly monitoring of TU, etc".  If you are going to use this rationale, why not offer up a better solution:  There is a similar site with daily updates of the same.  Or, if you really want to be on top of you game, utilize the Experian method and stagger "bi weekly" full FICO score checks.   Not to mention, I dont have a lot of cards, but I have 4 distinct credit card companies that provide a reasonable level of active monitoring of these events sent to me if I dont want to be checking in weekly for something new on my file.   (Amex, Discover, Cap One, Citi, and I don't even have Amex or Cap One cards anymore)

 

So yeah, in my opinion CK specifically is an actual waste of time - you can get better detail elsewhere actively, or let the same detail come to you passively.    

 

 


You’re making the same mistake as most. You are conflating Credit Karma with Vantage. Credit Karma is a waste of time becaue they don’t provide the Vantage score on the schedule that you would prefer, does not make sense.

 

Credit Karma is a company that has a business that provides free scores and reports in exchange for the ability to market to you. Same way Google and Facebook works. They don’t own or create the Vantage score. They have as much to do with it as you and me. The Vantage score is owned by Experian, TransUnion and Equifax. They created it to compete with FICO. If Credit Karma went out of business tomorrow, Vantage scores would still exist. It’s funny people associate FICO with EX, TU, EQ when they actual own Vantage and not FICO.

That would be fine “for the uninitiated, but we are initiated”...said Bane

 

People may feel the Vantage score is useless and the extrapolate that to Credit Karma. I don’t find Ford useless because they make cars I don’t drive.


With all respect, I am precisely not making that mistake

 

My point is I can get everything credit Karma offers, elsewhere, and current.  So, it is, quite specifically, a "waste of time" to view it there.  I am sorry that I don't know how to be more clear, it has nothing to do with the Vantage score displayed there or the myriad other places I can see it every day.

 

We will very much agree CreditKarma exists to gain "subscribers" which they can co market to partners.  That too, is quite literally a waste of my time.

 

 

 

 

050719:     
081719:     

A regretful expert. I have repaired before, I will repair again. My current goal is 670 FICO08 across the board by November 2019.
Message 14 of 22
Community Leader
Super Contributor

Re: Is Credit Karma just a waste of time?

From CMS point of view, we're allowed access paid or otherwise, in order to be able to peddle cards  and other products to us. 

In that respect, CK is no different that EX monitoring.  Or Nerd Wallet. Or TU own website.  Any, really. 

 

 

 

 

 

EX 753 EQ 773 TU 752
Message 15 of 22
Valued Contributor

Re: Is Credit Karma just a waste of time?


@BallBounces wrote:

@Morpho wrote:

@BallBounces wrote:

@SouthJamaica wrote:
 I recognize that it does update TU & EQ reports on a weekly basis, but to tell you the truth, I do find it a waste of time.

I echo @SouthJamaica, as it relates to Credit Karma being a waste of time.  

 

Let me be very specific:

 

We all agree the Vantage scores are at best of limited to dubious value.  But the CreditKarma defense is often "weekly monitoring of TU, etc".  If you are going to use this rationale, why not offer up a better solution:  There is a similar site with daily updates of the same.  Or, if you really want to be on top of you game, utilize the Experian method and stagger "bi weekly" full FICO score checks.   Not to mention, I dont have a lot of cards, but I have 4 distinct credit card companies that provide a reasonable level of active monitoring of these events sent to me if I dont want to be checking in weekly for something new on my file.   (Amex, Discover, Cap One, Citi, and I don't even have Amex or Cap One cards anymore)

 

So yeah, in my opinion CK specifically is an actual waste of time - you can get better detail elsewhere actively, or let the same detail come to you passively.    

 

 


You’re making the same mistake as most. You are conflating Credit Karma with Vantage. Credit Karma is a waste of time becaue they don’t provide the Vantage score on the schedule that you would prefer, does not make sense.

 

Credit Karma is a company that has a business that provides free scores and reports in exchange for the ability to market to you. Same way Google and Facebook works. They don’t own or create the Vantage score. They have as much to do with it as you and me. The Vantage score is owned by Experian, TransUnion and Equifax. They created it to compete with FICO. If Credit Karma went out of business tomorrow, Vantage scores would still exist. It’s funny people associate FICO with EX, TU, EQ when they actual own Vantage and not FICO.

That would be fine “for the uninitiated, but we are initiated”...said Bane

 

People may feel the Vantage score is useless and the extrapolate that to Credit Karma. I don’t find Ford useless because they make cars I don’t drive.


With all respect, I am precisely not making that mistake

 

My point is I can get everything credit Karma offers, elsewhere, and current.  So, it is, quite specifically, a "waste of time" to view it there.  I am sorry that I don't know how to be more clear, it has nothing to do with the Vantage score displayed there or the myriad other places I can see it every day.

 

We will very much agree CreditKarma exists to gain "subscribers" which they can co market to partners.  That too, is quite literally a waste of my time.


Do you get your EQ monitoring from a credit card or other pay site?  Or do you have a free site?   Barring CBIS (because most people don't care about that) and focusing on the 'big three CRA' monitoring, I still 'need' it because I can't find any other free sites with access to EQ monitoring, so I'm curious where you're getting it.




Garden goal: keep on keepin' on until 2020.
Message 16 of 22
Established Contributor

Re: Is Credit Karma just a waste of time?


@BallBounces wrote:

@Morpho wrote:

@BallBounces wrote:

@SouthJamaica wrote:
 I recognize that it does update TU & EQ reports on a weekly basis, but to tell you the truth, I do find it a waste of time.

I echo @SouthJamaica, as it relates to Credit Karma being a waste of time.  

 

Let me be very specific:

 

We all agree the Vantage scores are at best of limited to dubious value.  But the CreditKarma defense is often "weekly monitoring of TU, etc".  If you are going to use this rationale, why not offer up a better solution:  There is a similar site with daily updates of the same.  Or, if you really want to be on top of you game, utilize the Experian method and stagger "bi weekly" full FICO score checks.   Not to mention, I dont have a lot of cards, but I have 4 distinct credit card companies that provide a reasonable level of active monitoring of these events sent to me if I dont want to be checking in weekly for something new on my file.   (Amex, Discover, Cap One, Citi, and I don't even have Amex or Cap One cards anymore)

 

So yeah, in my opinion CK specifically is an actual waste of time - you can get better detail elsewhere actively, or let the same detail come to you passively.    

 

 


You’re making the same mistake as most. You are conflating Credit Karma with Vantage. Credit Karma is a waste of time becaue they don’t provide the Vantage score on the schedule that you would prefer, does not make sense.

 

Credit Karma is a company that has a business that provides free scores and reports in exchange for the ability to market to you. Same way Google and Facebook works. They don’t own or create the Vantage score. They have as much to do with it as you and me. The Vantage score is owned by Experian, TransUnion and Equifax. They created it to compete with FICO. If Credit Karma went out of business tomorrow, Vantage scores would still exist. It’s funny people associate FICO with EX, TU, EQ when they actual own Vantage and not FICO.

That would be fine “for the uninitiated, but we are initiated”...said Bane

 

People may feel the Vantage score is useless and the extrapolate that to Credit Karma. I don’t find Ford useless because they make cars I don’t drive.


With all respect, I am precisely not making that mistake

 

My point is I can get everything credit Karma offers, elsewhere, and current.  So, it is, quite specifically, a "waste of time" to view it there.  I am sorry that I don't know how to be more clear, it has nothing to do with the Vantage score displayed there or the myriad other places I can see it every day.

 

We will very much agree CreditKarma exists to gain "subscribers" which they can co market to partners.  That too, is quite literally a waste of my time.

 

 

 

 


Where can you get a free Equifax report more “current” than once a week? You can get a daily TU but that is literally not “everything CK offers”. Also all those banks you listed provide scores not reports. There is actually a very limited number of places to get free reports. I’m not aware of any CC that provide reports.

If you are saying you can get more current information by paying then my response would be “of course you can”

I think in any information repository you have to separate “is this useful to me” from “is it useful”. You are saying “I don’t need it, therefore it’s useless”.

I just returned from financial hell. Don't go, the brochure is a lie.
Message 17 of 22
Frequent Contributor

Re: Is Credit Karma just a waste of time?

As others have said....those scores are basically useless. But if you don't want to pay for an account with the Big 3 Bureaus....it's not bad for credit monitoring. 

 

Every time I apply for a card and my TU/EQ gets pulled, Credit Karma is pretty solid with how quick it lets me know about the inquiry. 


AMEX Gold / PayPal MC $2K / BOA BankAmericard $2K /
BOA Cash Rewards $1000 / Cap One QS1 $600 / Cap One Plat Sec $500 /
Credit One (2) $500 & $650 / OpenSky $500 / AvantCard $500 / Discover IT Cash Back (Graduated Secured) $200 / EBAY MC $300
Jan of 2017 Credit Karma: 404 -SEPT OF 2018: EX 652 EQ 626 TU 604
AUGUST OF 2019 1% UTL - EX 681 EQ 667 TU 659
Total Credit Limit: $10250 -
Goal Score: 675 for all FICOS (ACHIEVED EX)
Message 18 of 22
Super Contributor

Re: Is Credit Karma just a waste of time?


@CreditRebuilder2020 wrote:

 

Every time I apply for a card and my TU/EQ gets pulled, Credit Karma is pretty solid with how quick it lets me know about the inquiry. 


Many on this forum that pay for a MF monthly membership that also use CK often report that CK alerts (that are free) come faster than the alerts from the paid MF service.

Message 19 of 22
Established Contributor

Re: Is Credit Karma just a waste of time?


@calyx wrote:
 Do you get your EQ monitoring from a credit card or other pay site?  Or do you have a free site?   Barring CBIS (because most people don't care about that) and focusing on the 'big three CRA' monitoring, I still 'need' it because I can't find any other free sites with access to EQ monitoring, so I'm curious where you're getting it.

I missed this, sorry.

 

I monitor EQ through a combination of card providers and the "several times a month Experian process" I follow.  Experian will monitor EQ and TU and provide alerts such as the below.  It does occur to me that this is not "free", so it does not really fit your criteria.  I agree that EQ certainly makes things harder than TU and EX for simple monitoring., but my process works for me. 

 

XXXX reported a new account on your Equifax Credit Report.

New Account Alerts notify you when a new account is added to your credit report.

050719:     
081719:     

A regretful expert. I have repaired before, I will repair again. My current goal is 670 FICO08 across the board by November 2019.
Message 20 of 22
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