credit karma question

[Lambo23]

myfico TU score as of a couple weeks ago is 630. I just checked creditkarma yesterday and it tells me im at 683. I know this is not correct. Can't be. So why the HUGE difference in score? 53 pt difference seems very innaccurate! Could it be because it is only showing 1 missed payment (which is coming off soon) and it is not showing 3 missed payments on a closed account from a year and a half ago? I'm just trying to compare and contrast here. Thanks for the help!

[Anonymous]

CreditKarma doesn't use a FICO score.

That's why.

[hdrider07]

CreditKarma uses its own algorithm to calculate your score which is not a FICO score, it uses TU data but from what I have been able to decipher their calculations do not factor in older CO's.

[Lambo23]

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@hdrider07 wrote:

CreditKarma uses its own algorithm to calculate your score which is not a FICO score, it uses TU data but from what I have been able to decipher their calculations do not factor in older CO's.

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its not a charge off. its 3 late payments on an account which was closed after paying it off. no collection on it or anything. Because the card was a BofA secured card, does that matter at all?

[hdrider07]

Since its closed its probably just too old to show in CreditKarma calculations.  I have CreditKarma but the only thing I use it for is to see when the payments I made update because my balances go down, really thats the only thing I personally think its useful for.

[MarineVietVet]

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@Lambo23 wrote:

 

its not a charge off. its 3 late payments on an account which was closed after paying it off. no collection on it or anything. Because the card was a BofA secured card, does that matter at all?

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CK offers two different scores - a TransRisk score that no lender uses and a VantageScore that only a few lenders use.

Ignore both scores from CK. They are useless.

[drkaje]

One of the CK scores seems to ignore late payments more than two years old.

[SwiftTone]

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@drkaje wrote:

One of the CK scores seems to ignore late payments more than two years old.

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I think this is true. When I started checking CK in Jan/Feb 2012 it said I had missed payments. Since then, I had my latest missed payments removed(Jan 2009) and now CK shows I have no missed payments

[Lasardo]

I have noticed credit karma updates a lot later than experian and trans union. About 2 months or so.