Anyone tried Creditkarma.com?

**JinCO** · 11-20-2008, 08:16 AM

I just checked it out. Do you know how they come up with the score? Are they using their own methedology or selecting one of the FICO scores or average of the 3 FICO scores?

**noppenbd** · 11-20-2008, 08:47 AM

I am pretty sure they are not giving you the true FICO because Fair Isaac's protects it fiercely. It appears they currently use Transunion, so it is probably an alternate formula created by TU. It does seem to match the range of the FICO though (300-850).

**rizzmo** · 11-20-2008, 10:40 AM

I am currently using the site and find it fairly accurate ... in listed my credit score about 690 and my bank listed me 708. I like the features and not having to give my credit card or sign-up for things I have to cancel.

**The ComingDepression** · 11-20-2008, 07:04 PM

Haven't tried it

**tripods68** · 11-20-2008, 07:46 PM

Just got my credit score 780. I'm not sure how reliable. But its nice to know.

**KB24** · 11-21-2008, 10:34 AM

Here is something i just dug up about them...

Now, a new site called CreditKarma is offering free daily credit scores. For comparison, FICO�s own Score Watch program costs $89.95 per year. So what�s the catch?

1. It�s not a real FICO score. This is another FICO-clone, with a score ranging from 300 to 900. (FICO is from 300 to 850.) It also doesn�t say from which bureau this score is based upon, as they say they can pull from any of the big three (Experian, Equifax, Transunion). My guess is that they�ll use whatever is available that is both cheaper than FICO and still reasonably accurate. That�s what I would do�
2. You only get the score. The service is pretty barebones. You don�t get information about who�s pulling your credit, how often they are doing it, or information about your existing credit lines. So the �alerts� feature is missing. Instead, the primary attraction is the ability to see trends - is your score increasing or decreasing over time?
3. They are advertiser-supported, so I guess they are counting on people to obsessively check their score every day. I�ve always been a bit mystified by such behavior, but I don�t check the stock market ticker all day long either. From their privacy policy it seems that they are using your personal information to target ads to you, but aren�t actually sharing your info with others unless you opt-in. I sure hope not!

Security and Privacy Concerns
Okay, it�s free, so price isn�t a barrier to using this service. But it�s definitely wise to think twice before giving out personal information like my Social Security number to a start-up company. I read through their site, and didn�t see any glaring security holes. They use common third-party systems like ScanAlert Hacker Safe, TRUSTe, and Verisign. If you do notice something fishy, please share in the comments. The CEO will be reading, given that he�s the one that told me about this site.

Invitation Code
It�s currently in Beta now like any good start-up, so you�ll need a special promo code to get in. Use CKFRND.

**calliesmommy27** · 06-19-2010, 09:07 AM

incorrect score

I accessed my score on credit karma for the firs time. It gave me a score of 718- which is "good". This score is significantly lower than the last score I was given about 3 months ago from Total Credit Check site. So I re-enrolled in Total Credit Check and my score is actually 778 which is "excellent" big difference. I was panicked when this karma site gave me my score and it was so much lower. I would say if you are looking for an accurate score this isn't a good site.

**JoshuaHeckathorn** · 06-19-2010, 10:39 AM

CreditKarma is fine for checking in on your credit score, getting a rough estimate, and making sure nothing major has happened. But if you need to know your real FICO score when preparing to apply for a home or auto loan, get it directly from myFico.com.

**kdice** · 06-20-2010, 04:46 PM

Just my personal experience... CreditKarma was telling me my score was 696... and I couldn't figure out why it would be low. Got my 3 scores pulled by the credit union the same month when buying a house and they were all over 800 with a middle score of 810. So, for me it was very off.

**jackie27** · 06-20-2010, 04:58 PM

Great for a free estimate

After I read your post I immediatly went to the site. Apparently I had already signed up and I had completly forgot as I was able to log in as an existing user. I just bought a car and when they ran my credit I had a 730. On creditkarma I had a 708 which is not far off. It seems like a good rule of thumb is this site underestimates your score so the real thing will be a pleasant surprise!

**bluewaves** · 07-08-2010, 07:04 AM

Does this count as a credit inquiry on your credit score?

**JoshuaHeckathorn** · 07-09-2010, 07:52 AM

It's a soft inquiry, which doesn't hurt your credit score. You can pull your own credit score as often as you'd like and the credit-scoring models will not penalize you.

**dmontngrey** · 07-09-2010, 09:17 AM

I've been using this site for well over a year now. Wow, my score is listed in the 780 range. If that's underestimated, I wonder what it *really* is!

**strigiformes** · 07-09-2010, 11:00 PM

I just signed up at the site, out of curiosity. CreditKarma scored me at 747, which is 51 points lower than the 798 I got from myFICO two days ago.

My feelings are hurt now. *lol* Especially since they gave me an "F" for my number of credit accounts on their little "report card" feature. Not having a bunch of CCs and loans is a GOOD thing as far as I'm concerned, but I'm aware it's considered a negative as far as scores go. I'll take the "F" in that class any day.

That said - I like the site. It's nice that you can get some sort of estimate and see where you stand without having to pay for it. Thanks for posting.

Anyone tried Creditkarma.com?