GetInTheTruck
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Is Credit karma a good resource for credit score ?
- Thread starter a murda
- Start date
the artist known az
Hail the victors
I'm in the 720s right now...3-4 years ago I was in the 590s
666 ReVeNGe 666
TROLL IS LIFE
So where should I check then?
Cause I got FICO via Discover as well. That's 700.
My credit karma is slightly lower. I'm confused.
I also can check my score via capital one so idk which one to trust
Def Credit Karma, phone app works real nice. A friend put me on years ago.
Okay since its black excellence month I'm bout to put y'all on real game. Rep the man please..
A bit of advice for the novices is three things:
1- NEVER use your entire limit on your credit card! Matter of fact whatever your credit limit is never go above 10 percent of that. For example if your credit limit is $800 pretend your limit is $80 and never go above that. Paying your bills on time is only one part. If you exceed 10% utilization the credit agencies look at you as irresponsible.
2- Always keep a small balance on your card. I know this sounds ridiculous but you need to have some consistent activity to boost your score. If you not using your cards and have a 0 balance the agencies don't have anything to judge you. As a result your score can drop. I like to keep my utilization around 6-8% and pay the minimum. Trust me it works.
3- Do Not open new lines of credit cards if you already have cards!!! Cannot stress this enough: if you already have existing credit cards open for several years your score increases because of the average age of your accounts. Opening new credit cards lowers that age and lower your scores. As a side note I work the system if I open new cards by paying them off and closing them. I do that with kohls cards. That way the older cards give me the extra boost. I don't recommend you doing that because you need to be disciplined.
Extra bonus:
A good way to work the system is, if possible, take a loan from the credit union and use it to consolidate your credit cards. Your score will temporarily drop, but will rapidly boost because your credit card utilization will go way down. Loans, especially loans tied to automatic payments, benefit you because they are always decreasing. That's why car loans help for newbies.
A bit of advice for the novices is three things:
1- NEVER use your entire limit on your credit card! Matter of fact whatever your credit limit is never go above 10 percent of that. For example if your credit limit is $800 pretend your limit is $80 and never go above that. Paying your bills on time is only one part. If you exceed 10% utilization the credit agencies look at you as irresponsible.
2- Always keep a small balance on your card. I know this sounds ridiculous but you need to have some consistent activity to boost your score. If you not using your cards and have a 0 balance the agencies don't have anything to judge you. As a result your score can drop. I like to keep my utilization around 6-8% and pay the minimum. Trust me it works.
3- Do Not open new lines of credit cards if you already have cards!!! Cannot stress this enough: if you already have existing credit cards open for several years your score increases because of the average age of your accounts. Opening new credit cards lowers that age and lower your scores. As a side note I work the system if I open new cards by paying them off and closing them. I do that with kohls cards. That way the older cards give me the extra boost. I don't recommend you doing that because you need to be disciplined.
Extra bonus:
A good way to work the system is, if possible, take a loan from the credit union and use it to consolidate your credit cards. Your score will temporarily drop, but will rapidly boost because your credit card utilization will go way down. Loans, especially loans tied to automatic payments, benefit you because they are always decreasing. That's why car loans help for newbies.
I know Discover is Transunion. I only get my Experian because of credit tracker, and I see a ballpark of Equifax on credit karma.
I believe you can get all 3 scores from MyFico, but don't quote me on that... I'll go check.
Just found this: Three credit scores: FICO® Score 3B Report but I also think you can get a copy of all 3 scores for free, once a year.
You might check here too: Check Your 3 Credit Reports | creditreport.com™
I'd look it up and see which score your capital one is showing.
the artist known az
Hail the victors
I got a question about 3...what if you want a card that has a lower APR, better rewards, no annual fee, etc?
What y'all know about that 800 life?
Congrats bruh 
I'm nowhere near there 
. But that's the goal I'm after
666 ReVeNGe 666
TROLL IS LIFE
I get my FICO via Discover and Transunion via capital one.
Then go right ahead. Just remember that the average age of your credit lines with drop and with that your score. Figure a drop of 10-20 points, give or take. If you score is real high then it doesn't matter as much. Cards that have cash back bonus (especially double cash back) are nice. If you use them for bills and pay them off on time it's almost like they are paying you for paying your bills
I'm at a point where I look at my cards less as extra credit, but more as a tool to work my score.
Paradise50
Superstar
not all the way accurate but close enough especially since it's free
if you're super anal about wanting the exact then use myfico and pay for it
if you're super anal about wanting the exact then use myfico and pay for it
FICO stands for fair Isaac corporation, and the 3 reporting agencies are Transunion, Equifax, and Experian. FICO scores come from the information reported to those agencies, which is where the score comes from, but FICO itself isn't a reporting agency. There are several different models of FICO, so it just depends on the agency and if you're applying for something, which model they use.
Then there are "FAKO" scores that aren't official scores, but a ballpark, rather. I looked up which agency capital one uses for their report and I see that's also Transunion.
This is a good read to explain more: The many flavors of FICO:__Editions, versions, and... - myFICO® Forums
Get your scores from the bureaus themselves(Transunion, Equifax, Experian) or Myfico...
Most places, credit card companies give you fako scores. Yes fako is the name of them..thats why they are usually higher or lower than your real scores.
Most places, credit card companies give you fako scores. Yes fako is the name of them..thats why they are usually higher or lower than your real scores.