Credit Karma? It's free. Is it accurate?

[babylonsister]

I'm such a skeptic.

Thanks!

[gerogie2]

1. It use sthe 3 credit agencies vantage score and trans union and experian reports

As long as you're information is correct on your credit reports then it is accurate. The vantage score is a simulator of the FICO score so it is off by +/- ~ 40 points. Unless you're making a major purchase you shouldn't worry about your credit score. There are now some credit cards that provide your FICO score every few months so you don't have to pay the $60+ fee to FICO to find out what your score is.

[Kelvin Mace]

2. I have used it for over two years

And have found it fairly accurate and useful. They just revamped it and now have FICOs for Transunion and Equifax.

[TheBlackAdder]

3. I do not trust 3rd Party sites, especially if the service is 'free'.

So, they take security risks, processing overhead, etc. to provide a free service due to their benevolence? I find that concept hard to believe, especially after seeing websites promise one thing, then after building up their database, change those terms and sell off your information.


Just like with medical information, once you hand it out, you lose control over it. Case in point, if you have kids and you send medical information to the school nurse, you forfeit your HIPAA privacy, as that information becomes quasi-public. I've been warned by several doctors not to pass the children's medical information to schools.


Some credit cards and banks you have credit lines will will provide this information as part of their customer experience.

Of course, if you are ever declined credit, you can get a free report from the agency that reported it, and you are entitled to a free yearly report from each agency, if you ask.

[babylonsister]

4. Thank you. If it sounds too good,

it's not a good idea.

[woolldog]

5. The scores are not accurate

I purchased my scores from each of the big 3 a month or so ago. I signed up for credit karma a few days later and the scores creditkarma gave me were vastly different. Nothing had happened in between the time I paid for my report and score and the time I signed up for credit karma.

[Buns_of_Fire]

6. It's hard to say. I've been told that even the act of REQUESTING your score

Last edited Sun Feb 1, 2015, 04:17 AM - Edit history (1)

can affect your score. No one on the "outside" seems to know what sort of quantum economics these companies use, and the companies ain't telling.

[woolldog]

8. No. Asking for your own score doesn't

affect your score. Only a hard inquiry will.

[jberryhill]

7. How do they pay for those commercials?