MyFico vs Credit Karma

[24747]

Hello all,

Ive been using Credit Karma for quite some time to watch my credit score. I have racked up quite a bit of cc debt which I am now aggressively paying down ($17k paid in November) and $60k to go. Credit Karma has me me depressed about my credit score for a while because it has me down at $

580. I decided to sign up for MyFico and I am quite surprised it has me in the 690's for a 3 scores. I don't know what to believe now. Which one is more accurate? Thank you. 

[Vinjints]

The one that keeps you motivated to paying off that debt. But the Fico scores are the ones most others are going to be referencing for lending. CK is just a tool. 

[Patient957]

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@24747 wrote:

Hello all,

Ive been using Credit Karma for quite some time to watch my credit score. I have racked up quite a bit of cc debt which I am now aggressively paying down ($17k paid in November) and $60k to go. Credit Karma has me me depressed about my credit score for a while because it has me down at $

580. I decided to sign up for MyFico and I am quite surprised it has me in the 690's for a 3 scores. I don't know what to believe now. Which one is more accurate? Thank you. 

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They are both accurate.  They just reflect different scoring models.  CK uses the Vantage 3.0 model.  MyFico uses the FICO 8 model for the free version.  (The paid version has other Fico models in addition to Fico 8.)

Most people think Fico matters a lot and Vantage can just be ignored.  For now, as you pay off debt and rebuild, I would focus on your Fico 8s and ignore CK.  

[hdporter]

To put this into perspective, pretend you just competed in an athletics meet.  One of the judges scores your routine at "6"; another at "8".

Neither is "right".  Each judge applied unique criteria to assess you.

When it comes to FICO vs Vantage, by a considerable margin lenders reference your FICO score.

I ignore my Vantage scores ENTIRELY!

[Jessie]

I'm not a big fan of Karma overall. It just seems like one big ad. Are your myFICO scores still higher? It might be an update frequncy thing.

[Realist]

Credit Karma is the least accurate out of all sources, but they can serve a useful purpose.

Use them, abuse them, but don't rely upon them for accurate data.  

[JamesS84]

I tried Credit Karma and really didn’t like it. Just had a very advertisey feel. I don’t like other Intuit products either, so maybe it’s something at the company level.

[BrutalBodyShots]

Credit Karma is without question the biggest spreader of credit misinformation out there. The amount of people mislead and manipulated by CK is substantial. 

As already correctly pointed out by others, the scores they provide are nearly irrelevant VS3 and not FICO.