Results 1 to 11 of 11

Thread: Credit Karma

  1. #1
    Addict
    Points: 102,157, Level: 99
    Level completed: 56%, Points required for next Level: 893
    Overall activity: 80.0%
    Achievements:
    50000 Experience PointsVeteran
    CarlHungus's Avatar
    Join Date
    Feb 2012
    Location
    Ankeny
    Posts
    5,075
    Points
    102,157
    Level
    99
    Thumbs Up
    Received: 1,566
    Given: 919

    Credit Karma

    I've seen ads for creditkarma.com to get a free credit score. Does anyone know if this site is legit? I assume they are since they're being advertised on TV, but I'm overly cautious about stuff like this so want to know for sure. Thanks



  2. #2
    Hooper drives the boat, Chief
    Points: 627,669, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 91.0%
    Achievements:
    SocialYour first GroupVeteran50000 Experience PointsRecommendation Second Class
    Mr Janny's Avatar
    Join Date
    Mar 2006
    Posts
    24,512
    Points
    627,669
    Level
    100
    Thumbs Up
    Received: 3,244
    Given: 277

    Re: Credit Karma

    Quote Originally Posted by CarlHungus View Post
    I've seen ads for creditkarma.com to get a free credit score. Does anyone know if this site is legit? I assume they are since they're being advertised on TV, but I'm overly cautious about stuff like this so want to know for sure. Thanks
    It's legit. Not a bad service at all.


    "What a horrible night to have a curse."
    -Simon Belmont

    "Please bury me with all my stuff, because you know it's mine..."
    -Master Shake

    "Passersby were amazed by the unusually large amounts of blood."
    -Lorem Ipsum

  3. #3
    Addict
    Points: 102,157, Level: 99
    Level completed: 56%, Points required for next Level: 893
    Overall activity: 80.0%
    Achievements:
    50000 Experience PointsVeteran
    CarlHungus's Avatar
    Join Date
    Feb 2012
    Location
    Ankeny
    Posts
    5,075
    Points
    102,157
    Level
    99
    Thumbs Up
    Received: 1,566
    Given: 919

    Re: Credit Karma

    Not sure how accurate this site is. I just checked my credit score and it was 60 points lower than it was 8 months ago when I checked it with Experian. The only thing I have done since then is get an auto loan, but I have been current on it every month and have been paying more than the monthly payment, so I don't see how that would drop my score by that much



  4. #4
    Addict
    Points: 137,153, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 43.0%
    Achievements:
    50000 Experience PointsVeteran
    CysRage's Avatar
    Join Date
    Oct 2009
    Location
    Cedar Rapids, IA
    Posts
    7,251
    Points
    137,153
    Level
    100
    Thumbs Up
    Received: 1,067
    Given: 907

    Re: Credit Karma

    Its a great site! It will tell you what your weaknesses are in your credit score and what you should do to improve it. Also has a credit simulator which you put variables such as you pay your remaining debt, decrease your hard inquiries, and etc and it will say what your estimated score would be.


    "The greatest risk in life is not taking one"

  5. #5
    Legend
    Points: 351,014, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 99.6%
    Achievements:
    50000 Experience PointsVeteranOverdrive
    00clone's Avatar
    Join Date
    Apr 2011
    Location
    Iowa City area
    Posts
    13,428
    Points
    351,014
    Level
    100
    Thumbs Up
    Received: 4,086
    Given: 1,052

    Re: Credit Karma

    Quote Originally Posted by CarlHungus View Post
    Not sure how accurate this site is. I just checked my credit score and it was 60 points lower than it was 8 months ago when I checked it with Experian. The only thing I have done since then is get an auto loan, but I have been current on it every month and have been paying more than the monthly payment, so I don't see how that would drop my score by that much

    Not an expert, but I use credit karma...it looks to me like it's an 'estimated' credit score, and it can depend on when you check it. I have one credit card with an intentionally low limit, I use it for everything for the cash back, and pay it off with an autopay for the full amount. I checked my score just before the autopay dropped, it 'dinged' me for using too high of a percentage of my available credit. 3 days later, however, it would have been nearly zero.



    Quote Originally Posted by cowgirl836
    moar yoga pants, please.

  6. #6
    Hooper drives the boat, Chief
    Points: 627,669, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 91.0%
    Achievements:
    SocialYour first GroupVeteran50000 Experience PointsRecommendation Second Class
    Mr Janny's Avatar
    Join Date
    Mar 2006
    Posts
    24,512
    Points
    627,669
    Level
    100
    Thumbs Up
    Received: 3,244
    Given: 277

    Re: Credit Karma

    Quote Originally Posted by CarlHungus View Post
    Not sure how accurate this site is. I just checked my credit score and it was 60 points lower than it was 8 months ago when I checked it with Experian. The only thing I have done since then is get an auto loan, but I have been current on it every month and have been paying more than the monthly payment, so I don't see how that would drop my score by that much
    Yeah, so far I've found it to be a little low, but I think it's because it's just an estimate. For example, I had been subscribed for about a year, and it had continually shown one score. I didn't think much of it because I wasn't really doing anything that would affect it. But when we started applying for home loans this spring, I found that my actual credit score was significantly higher. Credit Karma's score adjusted up relatively quickly after that because I think they were able to factor in my recent hard inquiries into their estimate.


    "What a horrible night to have a curse."
    -Simon Belmont

    "Please bury me with all my stuff, because you know it's mine..."
    -Master Shake

    "Passersby were amazed by the unusually large amounts of blood."
    -Lorem Ipsum

  7. #7
    Rookie
    Points: 9,100, Level: 28
    Level completed: 59%, Points required for next Level: 250
    Overall activity: 0%
    Achievements:
    5000 Experience PointsVeteran

    Join Date
    Jan 2011
    Location
    Iowa City, IA
    Posts
    357
    Points
    9,100
    Level
    28
    Thumbs Up
    Received: 10
    Given: 57

    Re: Credit Karma

    Quote Originally Posted by 00clone View Post
    Not an expert, but I use credit karma...it looks to me like it's an 'estimated' credit score, and it can depend on when you check it. I have one credit card with an intentionally low limit, I use it for everything for the cash back, and pay it off with an autopay for the full amount. I checked my score just before the autopay dropped, it 'dinged' me for using too high of a percentage of my available credit. 3 days later, however, it would have been nearly zero.
    I've never used Credit Karma so I have no idea how accurate it is, but I've looked at a lot of personal credit reports and this is true on real reports as well. Depending on when your company reports each month, your credit cards can look a bit more used than they actually are.



  8. #8
    All-Star
    Points: 41,878, Level: 63
    Level completed: 18%, Points required for next Level: 1,072
    Overall activity: 1.0%
    Achievements:
    25000 Experience PointsVeteran
    Trice's Avatar
    Join Date
    Apr 2010
    Location
    Ankeny, Iowa
    Posts
    1,070
    Points
    41,878
    Level
    63
    Thumbs Up
    Received: 117
    Given: 59

    Re: Credit Karma

    It's legit. It's been awhile since I started using it but I recall their methodology was to somehow use their own algorithms that mirror your credit score, as opposed to reporting it directly from a credit agency...or something like that. Whether that's changed or not, I don't know

    They've since expanded into real-time credit monitoring and other useful services. As always, I take specific product recommendations with a grain of salt because if they're being compensated it can bias their advice. But the site is useful.



  9. #9
    All-Star
    Points: 14,591, Level: 36
    Level completed: 68%, Points required for next Level: 259
    Overall activity: 17.0%
    Achievements:
    Veteran10000 Experience Points
    chadly82's Avatar
    Join Date
    Sep 2009
    Posts
    1,534
    Points
    14,591
    Level
    36
    Thumbs Up
    Received: 126
    Given: 1,037

    Re: Credit Karma

    Quote Originally Posted by CarlHungus View Post
    Not sure how accurate this site is. I just checked my credit score and it was 60 points lower than it was 8 months ago when I checked it with Experian. The only thing I have done since then is get an auto loan, but I have been current on it every month and have been paying more than the monthly payment, so I don't see how that would drop my score by that much
    Soft pull and hard pull will do that with the score. I have a service that monitors mine and the soft pull is always lower for some reason. Then i also have it happen quite a bit every time i pull a customers.



  10. #10
    All-Star
    Points: 47,097, Level: 67
    Level completed: 11%, Points required for next Level: 1,253
    Overall activity: 5.0%
    Achievements:
    Veteran50000 Experience Points

    Join Date
    Dec 2008
    Posts
    1,846
    Points
    47,097
    Level
    67
    Thumbs Up
    Received: 121
    Given: 1

    Re: Credit Karma

    It's considered a "FAKO" score as compared to the FICO score many associate as their credit score.

    It's a useful site however to use for basic monitoring and general score estimate. But be aware your actual FICO score may be as much as 20-30 points in either direction.

    CreditSesame is another site that pulls Experian score.



  11. #11
    Addict
    Points: 60,504, Level: 76
    Level completed: 29%, Points required for next Level: 1,146
    Overall activity: 2.0%
    Achievements:
    Veteran50000 Experience Points
    simply1's Avatar
    Join Date
    Jun 2009
    Location
    Salt Lake City
    Posts
    5,637
    Points
    60,504
    Level
    76
    Thumbs Up
    Received: 82
    Given: 7

    Re: Credit Karma

    myfico is the only place I know where you can get your real fico score, but credit karma is useful for free monitoring.


    I don't do signatures. Blondes, brunettes, and red heads are a different story.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
  • TV: Cyclones.TV
  • FOOTBALL: Iowa State vs. UNI
  • September 5, 2015
  • 07:00 PM