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I know this has been talked about before, but I think it may help someone to post it here.
I was worried I had screwed up my credit because my high limit card reported a balance of 1100 dollars. (I paid it immediately but it still hit before the payment posted). I was scared to get my score but thought ok, I have to know (curiousity killed the cat) and did it. Actually the scores are now higher by about 5 to 10 points.
But my point I wanted to share is Creditkarma gives you a simulated score, based apparently on a TU model. My CK score is 698. But my TU FICO is 763. CK rates me "fair" in terms of credit score, but a 763 FICO is not a score one usually associates with "fair" credit. Obviously CK scores much differently than a FICO does.
I think it's important for people to know this and not put TOO much stock in what CK says. It's a great free service, but you have to take their numbers with a grain of salt. They also rate me a "poor" auto insurance risk, but I haven't had a claim, ticket, or accident in well over 20 years, and my credit is good, so how they would define a "good" auto risk, I have no clue, but again I think you have to really take what is said there with a big grain of salt.
Just hope this info is helpful/useful to you guys.
@LilloEsquilo wrote:I know this has been talked about before, but I think it may help someone to post it here.
I was worried I had screwed up my credit because my high limit card reported a balance of 1100 dollars. (I paid it immediately but it still hit before the payment posted). I was scared to get my score but thought ok, I have to know (curiousity killed the cat) and did it. Actually the scores are now higher by about 5 to 10 points.
But my point I wanted to share is Creditkarma gives you a simulated score, based apparently on a TU model. My CK score is 698. But my TU FICO is 763. CK rates me "fair" in terms of credit score, but a 763 FICO is not a score one usually associates with "fair" credit. Obviously CK scores much differently than a FICO does.
I think it's important for people to know this and not put TOO much stock in what CK says. It's a great free service, but you have to take their numbers with a grain of salt. They also rate me a "poor" auto insurance risk, but I haven't had a claim, ticket, or accident in well over 20 years, and my credit is good, so how they would define a "good" auto risk, I have no clue, but again I think you have to really take what is said there with a big grain of salt.
Just hope this info is helpful/useful to you guys.
+1. Ignore their credit advise, and don't try to correlate their scores with FICO scores.
+1 Credit Karma is good for monitoring your TU credit report. That is all. Their credit score and credit advice are all FAKE. Don't trust either one.
CK is a great free service to find good deals in a single portal.
However, some of their advice is just bizarre. For instance, they recommend that I get 24 credit cards.
CK always shows my score consistantly between 50-60 points lower than my actual TU Fico. This is the same for most of the people who I showed the CK site. I just need to stop updating it every three days out of desperate hope........
@mtrsprt wrote:CK always shows my score consistantly between 50-60 points lower than my actual TU Fico. This is the same for most of the people who I showed the CK site. I just need to stop updating it every three days out of desperate hope........
Only every 3 days? I do it every day I don't know WHY but, that luv button is there.....I'm trying not to press it!
@LilloEsquilo wrote:
@mtrsprt wrote:CK always shows my score consistantly between 50-60 points lower than my actual TU Fico. This is the same for most of the people who I showed the CK site. I just need to stop updating it every three days out of desperate hope........
Only every 3 days? I do it every day I don't know WHY but, that luv button is there.....I'm trying not to press it!
3 days is pushing it... I have gone daily believe me..... I only have three open accounts, and I have a general idea when they report, yes I still do it..... I HATE that "update" button.......... I have gone as so much as waiting on the 24th hour, for when it allows me to update it again.......... It's disgusting.
Wow! Maybe I'm not crazy. I update daily too.
@nomoore wrote:Wow! Maybe I'm not crazy. I update daily too.
You probably aren't crazy but I am. I admit it!
Still compared to Citi, I'm almost normal!
@nomoore wrote:Wow! Maybe I'm not crazy. I update daily too.
I did too, becuz I was really holding out hope it would Mod Cut...