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credit karma does not do what?!?!

gbishere
Established Contributor

credit karma does not do what?!?!

Credit Karma must not factor in line of credit revolving accounts into utilization, but regular fico does I am pretty sure. Right? 

 

I just realized this b/c my two new accounts just hit, a credit card and a line of credit. 

 

Has anyone else realized this?

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
08/12/2011: FICO:EXP: 766
Message 1 of 8
7 REPLIES 7
gbishere
Established Contributor

Re: credit karma does not do what?!?!

Anyone else experiencing this? My 20k LOC is not included in my total amount of credit. Anyone?

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
08/12/2011: FICO:EXP: 766
Message 2 of 8
ficofox
Regular Contributor

Re: credit karma does not do what?!?!

On CreditKarma, it counts only my Visa portion of my PSL/Visa combo that I have through PSECU, so I think you're on to something there. Both lines of the combo are showing up on the "real" credit reports though.  So, CK utilization percentages will always be off.

 


With FICO, time heals all wounds.

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Message 3 of 8
creditguy-378
Regular Contributor

Re: credit karma does not do what?!?!

first off why is anyone looking at credit karma it's a fako score if you want a real ex score you have to get it from a lender that still pulls ex fico's or you have to settle for the vantage from them which isn't a bad scoring model since we can't buy our own fico's from them anymore 

always use credit wisely and you won't ever feel like you're working just for the task master
Message 4 of 8
Walt_K
Senior Contributor

Re: credit karma does not do what?!?!


@creditguy-378 wrote:

first off why is anyone looking at credit karma it's a fako score if you want a real ex score you have to get it from a lender that still pulls ex fico's or you have to settle for the vantage from them which isn't a bad scoring model since we can't buy our own fico's from them anymore 


Credit Karma can still be useful.  First, it's free.  No real harm.  You can pull daily updates.  You might want to know whether an inquiry hit your report or whether one of your account balances has updated.  I find it useful for that purpose.  Also, I think CK pulls from TU, not EX.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Message 5 of 8
MarineVietVet
Moderator Emeritus

Re: credit karma does not do what?!?!


@Walt_K wrote:

 

Credit Karma can still be useful.  First, it's free.  No real harm.  You can pull daily updates.  You might want to know whether an inquiry hit your report or whether one of your account balances has updated.  I find it useful for that purpose.  Also, I think CK pulls from TU, not EX.


That is correct.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Message 6 of 8
gbishere
Established Contributor

Re: credit karma does not do what?!?!

Yes I'm in same boat as you I had to check my tu to make sure they were reporting okay and they are. I guess we just have to do a little simple calculation to get it right I guess. But what if we have a balance on PSL ? I doubt I ever will though. 

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
08/12/2011: FICO:EXP: 766
Message 7 of 8
Walt_K
Senior Contributor

Re: credit karma does not do what?!?!

Balance on PSL?  You mean balance on no preset limit card like Amex?  When I click on the Credit Report Card for utilization, it only calculates my utilization on open revolving lines of credit.  It ignores my balances and limits on closed cards.  If I click on See Details, I get my limit and balance on my open revolving lines, and though it doesn't put it into the utilization calculation, it does separately list my balance on open credit cards that don't report a limit.

 

Now I don't have a LOC attached to a card like you mentioned in your original post, so not sure how to address that.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


Take the FICO Fitness Challenge
Message 8 of 8
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