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CreditKarma - Tool Only

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Frequent Contributor

CreditKarma - Tool Only

So this is why you don't really follow CK's scoring model. I found this hillarious so I took a few screen shots to share. Please don't rely on their scoring models. More than likely it will drive you insane in their MICRO adjustments. I use CK for quick references's only. 

 

Good Luck!

Jan 15.png1/15/19Jan 25.png1/25/19Feb 3.png2/3/2019





RIP: EECU PLOC | BBVA PLOC | Chase SP | Chase Amazon | Chase Freedom | WF Propel
6 REPLIES 6
Super Contributor

Re: CreditKarma - Tool Only

Sure the VS 3.0 model is quite irrelevant since no lenders use it, but I'm not understanding your point with the images attached.  It looks like your VS 3.0 score is remaining quite constant (+/- 1 point) due to balance changes, something that depending on your limits/utilization percentages could also very well be the case with FICO scores.  If you were posting something like +85 points one month, then -92 points the next month for example I'd better understand the purpose of your post, but as of now I'm not really sure where you're going with it.

Message 2 of 7
Regular Contributor

Re: CreditKarma - Tool Only

It's not CK's scoring model. VS was created by the three major credit bureaus (Equifax, Experian, and TransUnion). VantageScore is managed and maintained by VantageScore Solutions and is jointly owned by the three bureaus....

Message 3 of 7
Super Contributor

Re: CreditKarma - Tool Only


@Physh1 wrote:

It's not CK's scoring model. VS was created by the three major credit bureaus (Equifax, Experian, and TransUnion). VantageScore is managed and maintained by VantageScore Solutions and is jointly owned by the three bureaus....


I don't think that's what he meant.  I think he meant the scoring model used by CK. 

Message 4 of 7
Community Leader
Super Contributor

Re: CreditKarma - Tool Only


@CramEiko wrote:

So this is why you don't really follow CK's scoring model. I found this hillarious so I took a few screen shots to share. Please don't rely on their scoring models. More than likely it will drive you insane in their MICRO adjustments. I use CK for quick references's only. 

I think BBS has made a good point.  Our OP seems to be criticizing Karma because it is giving updates of very tiny changes to the score -- or perhaps criticizing the model itself for fluctuating slightly due to slight changes in the report.

 

FICO based credit monitoring services do this too.  The myFICO Ultimate for example often sends updates of tiny changes to its FICO 8 Classic score.

Message 5 of 7
Frequent Contributor

Re: CreditKarma - Tool Only

If you understand CK's business model, the OP's updates make perfect sense. They want you to purchase products (loans, credit cards) that they get commission on. The more often they attract you to their site, the more likely you are to see something that catches your interest and makes them money. They do that by alerting you to anything, no matter how minor. This is not really limited to CK.

Current Score: Mar 2019: EX FICO8 779, TU FICO8 811, EQ FICO 780, TU Vantage 773, EQ Vantage 786
AoOA: closed: 35 years, open: 24 years; AAoA: 11.8 years; Inquiries: 2019: 2, 2018: 3; No BK ever, 1 30 day late in 2013
Amex Gold, Amex Green, Amex Blue, Amex ED, Amex Delta Gold, BoA Platinum Plus, Chase Slate, Chase Amazon, Chase CSP, Sync Lowes, Sync JC Penney - total CL 114k
Loans: Marcus (10k/3yrs 5.99%), Prosper (20k/3yrs 7.14%), Lending Club (10k/3yrs 5.89%), Chase car loan (35k/6yrs 0.9%)
Message 6 of 7
Super Contributor

Re: CreditKarma - Tool Only

I do think there's some truth to what you said above about these free sites wanting to get people to sign in, hopefully luring them to a new product.  I would think though if this were really the case of "more = more" they'd be coming up with all kinds of bogus alert "reasons" to bring people in... things like "Your Average Age of Accounts has increased!" or "An inquiry has reached 6 months in age!" or "An account fell off your report!"

 

There really are a million examples of alerts that could be provided to get people to sign in more often and attempt to rope them into credit products.

Message 7 of 7