Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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I just bought a car and the CreditKarma score was very accurate. My credit union scored me 10 points higher and the dealer scored me 3 points lower.
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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18 Replies
43,362 Views
I'm going to try and answer all your questions...
First let me start by saying that if you're looking to buy a house, Do NOT apply for ANY credit cards right now. NONE. Those inquiries will get...
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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18 Replies
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Hello,
In glancing at a thread about a CC, I noticed that a bunch of people listed their credit scores and what they got approved for. I made a lot of mistakes when I was young and dumb, so I...
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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18 Replies
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Thanks for your interest in Credit Karma Parachute07. I actually work at Credit Karma and would love to tell you what we are all about. At Credit Karma we do offer free Credit Scores and Credit...
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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That's not true at all. A straightforward explanation can be found here:
http://www.experian.com/ask-experian/20080124-an-authorized-users-credit-history-does-not-affect-your-credit-report.html
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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So you brought a post back from 2012?
CK is from Transunion. NOT ALL LENDERS REPORT TO EVERY BUREAU.. Your late payments may be sent to Equifax.
This is why you should get a free credit report...
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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18 Replies
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Pull your free Transunion credit report and see if they have your late payments noted on it. As mentioned early CK uses Transunion, so if they don't have the late payments and Experian does that...
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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18 Replies
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Total blast from the past here - I'm the OP and just happened to be lying in bed browsing the finance forum and I saw this got bumped....LOL.
Well, to weigh back in on it, I've found CK to be...
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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What I said was indeed true and is not in conflict with the article you posted.
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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Just an authorized user. But I thought it should not affect my credit score. Yet how credit karma works it looks like it factors in those account balances as my own when really they should not.
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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18 Replies
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Yes it does show up on credit report and affects your score good or bad but you aren't legally accountable to pay it. The best thing if you can and don't use the accounts look into taking yourself...
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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I have one question for you since you work for them. I signed up back in the beginning of it all and have loved the service since then. It really is fantastic. My only problem/issue is that I am an...
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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Credit Karma pulls your info from Transunion. It's a soft pull, meaning it won't negatively affect your credit. The score Credit Karma provides uses a different scoring model than myfico so the...
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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18 Replies
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I've been trying CK for a year and there are some things that make me suspect its accuracy. My FICO score has been in the 840 range, but my CK score is significantly lower and rates me several Cs and...
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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Are you an authorized user or a co-signer or co-applicant? If you are only an authorized user then you are not obligated to pay any of the debt but it could still show up on your credit report.
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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You will cause less ideal mortgage rates with less than A credit score. Try to get mortgage on her income only.
If you want to increase credit score, ask her to add you as authorize user of her...
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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Yes, being an authorized user on someone's account links you together so that their credit affects yours. Many people use this as a means to improve their credit rating, but it can also backfire if...
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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I reread your post, and I stand corrected. While your "credit" as in your credit history does not become linked, your credit does indeed show up on the authorized user's history.
It should be...
Can someone explain Credit Karma in a nutshell?
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Thread created 10-20-2012 by Parachute07
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I was just denied credit at the bank based on late payments and derogatory remarks on my credit. CK doesn't reflect either of those. So I am questioning the accuracy.
