I am totally lost

[SouthJamaica]

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@Anonymous wrote:

Wow, BBS, I had no clue that Karma did that.  One more reson not to pay any attention to its front end interface except for CC utilization.  And of course the reports themselves are fine.

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Good responses CGID and BBS.

Summing up:

1. Credit Karma is worthless for scores, valuable for report details which are updated weekly for free.

2. The only score MyFICO Ultimate updates regularly is FICO 8.

3. The other FICO scores, and the FICO report information, are updated by MyFICO only quarterly.

I would also say to OP (a) in most cases you won't know which score a particular lender will use or even from which bureau they will pull your report, (b) the scoring won't be stale like MyFICO, the scoring will be up to date based on what data has been reported to the bureau in question, and (c) you might as well use FICO 8 as your proxy for whatever score they pull, for the reason that FICO 8 is the most commonly pulled score for credit card lending.

If you see your FICO 8 scores, as reported by MyFICO, all in the neighborhood of 650, and you want to apply when your score is 650, then you might as well apply.

I can access my report details updated on almost a daily basis, by subscribing to Equifax.com, Transunion.com, and Experian.com, but that costs me an additional $30+ per month.

[Anonymous]

Thanks everyone! Great stuff. Yeah so the Fico 8's are the same scores as what I am seeing, I guess it just depends on which one they pull. I'm just trying to get my UTI down even more by gaining more credit right now after I finally got these balances knocked way down. I was hoping to be up around 660-670 on all 3, but all 3 should be around 650 because the EX still has a 5,000 balance on that one that shouldn't be there, holding it back at 631. I guess I need to investigate what cards I could get approved for in that range, I don't want to waste hard inquiries if I don't have to, I am probably "on the fence" for a lot of approvals. Although I have 8 total now, and 5 will be coming off in August. So in theory I could just replace those 5 and not up my inquiries any more after August is over with. 

[Anonymous]

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@Anonymous wrote:

Wow, BBS, I had no clue that Karma did that.  One more reson not to pay any attention to its front end interface except for CC utilization.  And of course the reports themselves are fine.

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Yes sir, definitely a big reason to ignore that stuff!  I think I signed up for CK in 2015, before I knew anything really about my score, score ingredients, etc.  At the time my scores were in the low 600's and I had at least 4 negative accounts on my credit report that were all littered with multiple delinquencies. Most of the delinquencies though were 1-2+ years old.  I remember CK showing my payment history as 95% or 96%, something that to me felt "good" based on what their fluff software was saying.  By early 2016, probably just before I became a member of this forum, my payment history on CK was "100%" when I still had 4 accounts with tons of late payments present.  I felt really good about my payment history based on how it was presented by CK, yet it was absolutely horrific when considering impact to FICO scores.  Fortunately within a few months and reading a lot on this forum I was able to educate myself and understand that my payment history was really crappy and that I needed to address that if my FICO scores were to going to improve.