Credit Karma Simulator Issue?

[Anonymous]

I have credit karma that I use to get vantage score. I noticed it says my Util is about 27% I wanted to see what it would go up to when it updates as it is about 12-14% at the moment. It actually shows my score going down. I'm confused. This isnt the first time. Almost has me scared to pay off stuff. Says I'd lose 41 points by going to $1k of $12500 from $3k. Has anyone else seen this? Most importantly, is it true?

[Jnbmom]

CK should only be used for monitoring, plain and simple.  Their scoring model is not used by any lenders and is really pointless.

[Anonymous]

Well that sucks. What's the point of having the simulator if it isnt realistic. Sigh. I will just conrinue to monitor it.

[Anonymous]

[Anonymous]

I like the simulator in moneylion, it's an app for Android, maybe they have IOS to I don't know. The default setting is for notifications to be on and they hammered me with suggestions to take a loan at 6% from them haha but other than that it's pretty cool.

[Anonymous]

Like every one else has mentioned, CK does not provide actual fico scores. Their scores can be close sometimes and other times they are completely off.

In my case credit karma scores are 81 points lower than my actual fico scores for EQ and 39 lower than what my real TU scores are.

[Anonymous]

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@Anonymous wrote:
I have credit karma that I use to get vantage score. I noticed it says my Util is about 27% I wanted to see what it would go up to when it updates as it is about 12-14% at the moment. It actually shows my score going down. I'm confused. This isnt the first time. Almost has me scared to pay off stuff. Says I'd lose 41 points by going to $1k of $12500 from $3k. Has anyone else seen this? Most importantly, is it true?

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Every credit simulator is a joke.  None of them seem that accurate, no matter the one you use.

You should never be scared to pay off debt.  If anything you should strive to pay it off (regardless of what your score might become)

[Anonymous]

^truth.


Freedom is worth more than credit.

[SarahJo]

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@Anonymous wrote:

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@Anonymous wrote:
I have credit karma that I use to get vantage score. I noticed it says my Util is about 27% I wanted to see what it would go up to when it updates as it is about 12-14% at the moment. It actually shows my score going down. I'm confused. This isnt the first time. Almost has me scared to pay off stuff. Says I'd lose 41 points by going to $1k of $12500 from $3k. Has anyone else seen this? Most importantly, is it true?

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Every credit simulator is a joke.  None of them seem that accurate, no matter the one you use.

You should never be scared to pay off debt.  If anything you should strive to pay it off (regardless of what your score might become)

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Truth!  I have experimented with even the MyFico simulator (no changes and making regular payments for a specific amount of time) and it hasn't been even close.

[Anonymous]

That very well may be true for the Vantage scoring algorithms and model.  However, I wouldn't put much (i.e.--"any") stock in a Vantage Score or the associated simulator.  There are so many moving parts and variables with Fico scoring that trying to relate a Vantage score simulation to a Fico "real world" result is likely pointless.