Reliability of creditkarma?

Discussion in 'General Discussion | Credit Cards' started by mikesteg, Nov 10, 2011.  |  Print Topic

  1. mikesteg

    mikesteg Silver Member

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    I've seen a number of mentions in various posts (probably mostly on FT) that credit karma isn't all that reliable. What I see is this:

    DW:
    • equifax/TU/Experian: 82x, 80x, 80x (as reported by Equifax)
    • creditkarma: 783
    Me:
    • equifax/TU/Experian: 79x, 79x, 79x (as reported by Equifax)
    • creditkarma: 742
    Mine is substantially off, though my wifes is not terrible. Either way, I wouldn't make any major decisions (mortgage) without getting the real scores. Also, if there were a major change in the CK score I'd go get a real report to figure it out.

    I guess my question is this: will the CK score move in relation to the 'real' scores? Alternately (and probably more usefully): can I have a reasonable assurance that if the CK does not move much, that the real credit scores also haven't moved?

    Thanks,
    Mike
     
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  2. harvson3

    harvson3 Silver Member

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    I'm really interested in the answer to this question, as I've seen the same discrepancy.

    My (amateur, rough) understanding is that creditsesame draws from Experian, and CK pulls TU.

    And welcome to MP.
     
  3. miles and smiles
    Original Member

    miles and smiles Gold Member

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    In my limited experience, my Credit Karma score is very close to my Credit Sesame score and both are close to the scores I get when I do my annual free credit report. Discrepancy is like 10-20 points.
     
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  4. mikesteg

    mikesteg Silver Member

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    I just signed up for creditsesame and it gives me a 775. In terms of my original question, I think that using CK and CS would give me a decent picture of any major changes without a cash expenditure. At least for Experian and TU. If both do something unexpected in one month, I'll look into it. There is a possibility we'll be moving in the next year, so I'm being conservative for now but don't want any surprises. Hopefully after we move or the situation is resolved, there will still be some great offers out there.

    TY for the welcome. I've been mostly lurking at FT for awhile, but this board definitely makes it easier for those us us without a long history.

    I joined the MP Kiva team in Oct and I'm up to a whopping 6 loans with 2 more to come on/after the 15th. I'm still trying to read up over there before I get engaged in the actual conversation.

    Thanks again,
    Mike
     
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  5. miles and smiles
    Original Member

    miles and smiles Gold Member

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    Welcome to Milepoint, Mike, and welcome to the Kiva team. Glad to have you here.
    With Kiva, every single loan is important, so it's great that you have already made 6 loans.
    Concerning credit scores, I'm signed up with both CK and CS, plus I do my free annual credit report. For me that's enough as I am no longer applying for lots of credit cards.
     
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  6. ossipago

    ossipago Silver Member

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    How do you get scores with your free annual reports, which I thought explicitly were designed not to provide scores?
     
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  7. Jimgotkp
    Original Member

    Jimgotkp Gold Member

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    I recommend getting a Credit Monitoring Service if you plan on getting into the churning game and not relying on annual reports...
     
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  8. ossipago

    ossipago Silver Member

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    I don't churn much, I was just curious about the explicit connection between scores and free credit reports.
     
  9. mikesteg

    mikesteg Silver Member

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    As the OP, I give ossipago permission to hijack this thread. :p

    I am curious too. The reason I paid for a month of Equifax (x2) was to get the 3 actual scores. When I've gotten free credit reports in the recent past, they don't seem to give the actual score and they provide as much advertisement as information. (Not to say that Equifax doesn't advertise on the paid account...)
     
  10. HaveMilesWillTravel
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    HaveMilesWillTravel Gold Member

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    I just got one of my free annual reports (you can get one from each of the bureaus, so I try to scatter them over the course of the year, though I am pretty good at forgetting about it). Score was not part of the report, but offered for $7.95.
     
  11. ossipago

    ossipago Silver Member

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    Sorry, wasn't meaning to hijack. I was curious mainly to understand the relationship between the official FICO scores and CK and CS's FAKO calculations.
     
  12. mikesteg

    mikesteg Silver Member

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    No worries. I was joking, as per the smiley. I'd also like to know if it's possible to get the real scores for free. As I mentioned, I paid $17 (x2) to get the scores for DW and myself. Checking for misinformation is obviously a good thing, but it would be good to get the score for free also.

    Up to 9 loans for Kiva. I got my first repayments today and hadn't counted on that. :D
     
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  13. miles and smiles
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    miles and smiles Gold Member

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    My mistake. I did not get credit scores with my annual report. Sorry, I misremembered.
    But it is good to check your report at least once a year just in case there are any mistakes.
     

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