Credit Karma

[Datawiz]

Anyone use it?

I track my credit score constantly. Please explain to me why my credit score just went down (on Trans Union) and up on (Equifax) for paying off the loan on my '09 Z06??? They both gave me props for the balance reduction on the loan amount, and the one that went up recognized a different payment to a credit card, but BOTH had red flags due to the account closing.

They treated my successful loan payoff as a negative because the account was closed. WTF?!?!

For the record, scores from both services are well over 800.

Yo credit ratings service...I write software for a living. I can make your credit model way better than it is. Right now, you are borked.

[MadInNc]

Originally Posted by datawiz

Anyone use it?

I track my credit score constantly. Please explain to me why my credit score just went down (on Trans Union) and up on (Equifax) for paying off the loan on my '09 Z06??? They both gave me props for the balance reduction on the loan amount, and the one that went up recognized a different payment to a credit card, but BOTH had red flags due to the account closing.

They treated my successful loan payoff as a negative because the account was closed. WTF?!?!

For the record, scores from both services are well over 800.

Yo credit ratings service...I write software for a living. I can make your credit model way better than it is. Right now, you are borked.

Have it, use it. Also have FICO score on Citi and Discover. You can also login Equifax, TransUnion etc to obtain

Wait a month or two, they will balance out. My score won’t increase unless I get more CC’s - like that’s going to happen NOT. Still over 800

I’ve locked all agencies which is a pain when you want to make changes with your CC’s as last year I dropped my last annual fee CC and obtained a new one w no fee from PNC......

[Datawiz]

Originally Posted by MadInNc

I’ve locked all agencies which is a pain when you want to make changes with your CC’s as last year I dropped my last annual fee CC and obtained a new one w no fee from PNC......

Mine are all frozen too. Yes it's a pain in the ass, but I think it's a prudent thing to do.

[Wathen1955]

Yeah I use it since the breaches we had the last couple of years. I get notifications about changes or payoffs. Currently I have a 825 credit score. My last CC will be paid off next month. No more CC balances.

[Aerovette]

I use it all the time. It makes no sense in the short game. If you track over an extended period of time, you can see a trend. It swings pretty wildly with minimal dollar transactions for me.

[Mr.Bigg]

You gave some company your private information over the Internet? And they do this for free? What could possibly go wrong?

[DAB]

it only matters if you plan on borrowing money.

[99 pewtercoupe]

Originally Posted by aerovette

I use it all the time. It makes no sense in the short game. If you track over an extended period of time, you can see a trend. It swings pretty wildly with minimal dollar transactions for me.

This

We put a large (5 figure) charge on an AMEX card knowing that we would pay it off when the statement came but wanted to pick up the airline miles. Got a notice from Credit Karma that my debt ratio had gone up and it was affecting my credit score. After the payment was posted my score went back to prior.

[Earthquake Driver]

Culture Club - Karma Chameleon (Official Video) - YouTube

[MrPeabody]

They follow your posts here and they know you're buying a C8.

[markids77]

I hadn't purchased a new car since 2004. I have no CC balance as we pay in full, on time, every month. Our mortgage is 2/3 paid off. We have not needed to finance large purchases like new roofs, or upgraded A/C for years now. Her 2016 is paid off years early. If we so desired we could have written a good check for the full purchase amount of my new car.

On the day we went to pick up the Mustang my credit score was 900. Hers just shy. We put an additional $5K on top of rebates to reduce the principal. The first bank the dealership contacted for financing declined; they said we as a couple did not have enough recent credit history for them to approve a sub 20K car loan. There's something wrong there for certain.

[Steve_R]

Originally Posted by datawiz

I track my credit score constantly.

For the record, scores from both services are well over 800.

I gotta ask, you have scores well over 800 yet you track them constantly why?

[markids77]

Originally Posted by Steve_R

I gotta ask, you have scores well over 800 yet you track them constantly why?

He's a bit compulsive. In a good way though.

[Millenium Vette]

Originally Posted by datawiz

Yo credit ratings service...I write software for a living. I can make your credit model way better than it is. Right now, you are borked.

It might be borked, as you so eloquently put it, but that is exactly the way both the creditors and the reporting agencies want it.

Back in the day when I had to deal with such things doing F&I in the car biz, nobody knew what an "800" or a "500" even was. Plenty of people with great credit didn't even realize it. The only reason people with shitty credit knew it was because they had finance companies calling them up and reminding them of it all the time.

[bsmith]

I signed up for it a few years ago and might check it a couple times a year.

I just did a refi on our house last week and the "real" FICO scores that they pulled were 10-20 points lower than what Credit Karma gives me.

As far as the people saying that they pay the credit cards off monthly (we do too), if you pull your report they show a balance on the day it is pulled. And they report that you pay on time.
I don't think the fact that you pay them off is a factor.
If you charge $3k on your cards monthly, it looks like a $3k balance and you pay on time.

[Uncle Meat]

I've been using Credit Karma since almost its inception. My credit scores are always within 2 points of each other. I just updated one of my credit cards to a newer one from the same credit union only with a higher balance. That made my Transunion go up 3 points and my Equifax go down 7 points. LOL!

U.M.

[6spdC6]

Originally Posted by MadInNc

Have it, use it. Also have FICO score on Citi and Discover. You can also login Equifax, TransUnion etc to obtain

Wait a month or two, they will balance out. My score won’t increase unless I get more CC’s - like that’s going to happen NOT. Still over 800

I’ve locked all agencies which is a pain when you want to make changes with your CC’s as last year I dropped my last annual fee CC and obtained a new one w no fee from PNC......

Dam I have not had a U pay us card (annual fee) in decades. I pay my cards off monthly, I like the idea of them giving me money to use their plastic!

[Datawiz]

Originally Posted by Steve_R

I gotta ask, you have scores well over 800 yet you track them constantly why?

Identity theft.

[Egnalf]

I track nothing. if an unusual charge is made on any of my cards the company usually emails me before approving the transaction. a simple check box to say irs not me and move on. who has time to worry about credit scores, simply pay your bills on time every time and life is good. I don't track my credit score but when I bought my last corvette the finance guy(at kerbeck) told me I had the highest score he had ever seen.

[dvarapala]

Originally Posted by bsmith

As far as the people saying that they pay the credit cards off monthly (we do too), if you pull your report they show a balance on the day it is pulled. And they report that you pay on time.
I don't think the fact that you pay them off is a factor.
If you charge $3k on your cards monthly, it looks like a $3k balance and you pay on time.

Yep, that has always annoyed the **** out of me. But like you say, it's never been a factor in qualifying for the loan, so I quickly get over it.