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Credit Karma


fiveyearplan66
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The last post in this topic was posted 2687 days ago. 

 

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I have been seeing 50-60 point difference between fako and fico, but I would never trust fako for deciding to app something. According to karma I've had a fair shot at top tier cards since I started rebuilding, lol. I have to praise their weekly pulls, and daily pulls if you get an inquiry or new account, and for free no less.

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I have been seeing 50-60 point difference between fako and fico, but I would never trust fako for deciding to app something. According to karma I've had a fair shot at top tier cards since I started rebuilding, lol. I have to praise their weekly pulls, and daily pulls if you get an inquiry or new account, and for free no less.

I applied to Target based on my ck equifax score of 570 and got denied with a letter said it was based on my low score of 517 with Equifax.
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Do you ask just because or is there something coming up that you plan on apping for?

Ck so far is the only monitoring service I can afford at the moment. Recently I paid off a small loan and recieved alerts from Ck and noticed 50 pt increases on equifax and Transunion

 

Do you have other negatives on your reports? If so, I wouldn't worry about your scores too much right now unless you're looking to app for something soon. I would suggest working on cleaning up your reports first and worrying about the score later.

Edited by AnnMichele
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It has long been my expectation that VantageScore 3 scores (CK) would differ more from FICO 8 scores than FAKO scores like the National Equivalency Score would differ from FICO 8.

 

I also expect that VantageScore 3 is a better predictor of risk than FICO 8.

 

This may seem contradictory. It is not.

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Data point:

 

My FICO 08 and Credit Karma scores were about the same for TU and Equifax.

 

I have about a dozen credit cards, a couple mortgages, and a couple negatives on my file.

I inadvertently let an 85% utilization post on a Chase card.

 

My Credit Karma TU and EQ scores each dropped 80 points.
My FICO 08 TU score & Citibank Equifax FICO scores each dropped 15 points.

 

Take home message.
* Your FICO and Credit Karma scores may be close.

* Or they may be very different.
* The only way to know is to have a copy of your FICO scores.
* Thus, Credit Karma scores in the absence of FICO scores are not merely meaningless, they are deceiving.

MP

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My FICO is 40 points (average) lower than CK.

Ok. Are there any promotional codes anywhere for fico reports?

 

As the person above me said, check out the master free fico thread. If you can't find it, check the Master of Master Threads thread that is pinned at the top of this forum.

 

If you pay for one from MyFico, there is basically always a $4 off one report/score code -- so the $20 report and score becomes $16 + tax. I think I recently also went through Ebates and got like another $5 back or something like that.

 

As you can see based on what people here have told you, there is no rhyme or reason as to the discrepancy between a real FICO and the CK FAKO. The number of points difference varies wildly -- there is no way to predict what your actual FICO score might be from the FAKO. A lot of people here are telling you that in our experience, the FAKO is a good bit lower. On the other hand, there are also scenarios where your FAKO may be higher than your FICO. So don't get up your hopes for a super high score. Just recognize that the CK score isn't useful if you need a FICO score.

 

And on that note, why do you need a FICO score? I ask because the type of FICO score you need might influence how you'd get it. For example, if you're applying for a mortgage, you'll probably need FICO04 scores. If you're applying for a credit card, they will most likely (but not always, depends on issuer) use a FICO08 score. If you're applying for an Amex, they will only pull EX, so the only score that really matters for you is EX08. In that case, I'd suggest singing up for the $1 trial on the EX site that gives you free daily access to your EX08 score for 7 days. I think the regular price is $20, but if you call in to cancel, they'll offer it for about $10.75 a month. I pay that and have daily access to my EX score.

 

On the other hand, if you're applying for a Capital One card, I recently discovered that they pulled the 04 version of scores. The only place I had access to a TU04 would have been MyFico (if you buy one of the $20/$16 reports, they give you a bunch of different versions of your score -- including the 04 version). I get my TU08 score monthly from my Walmart store card and once in a blue moon from a Barclay card.

 

If you're looking for credit union membership, they will most likely use an EQ score -- I'm not sure whether they use EQ04 or EQ08, but someone here knows. Unless of course you apply for membership with NASA FCU -- in which case they'll look at your EX08.

 

The point of this fun story is to say this: If you mention why you want the scores, maybe someone can point you in the right direction to find the right type of score as cheaply as possible.

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My FICO is 40 points (average) lower than CK.

Ok. Are there any promotional codes anywhere for fico reports?

 

 

If you go to credit check total and sign up for their trial period for a dollar you can start there. Then cancel sometime during the first week (trial) and they will offer $14.95 per month for a year. Best way to go.

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