CreditKarma redesign

For just about anything you want to get off your chest about credit cards.
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Battery111
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CreditKarma redesign

Postby Battery111 » Sat Jan 24, 2015 8:33 am

Not sure if anyone else has noticed this yet. Just logged in to CK today and they've done a complete overhaul. In addition to TU they're also now providing a FAKO and report from EQ. As for the FAKO itself, they're now using vantagescore 3.0. I'm not sure whether this is a positive or a negative, but wanted to let people know.

Looks like the EQ can only be updated monthly instead of weekly like TU. Nonetheless it's always nice to get more features and more info.
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popamode72
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Postby popamode72 » Sat Jan 24, 2015 9:33 am

Yeah I found out about this a few days ago. Took me a while to find all my linked accounts though.
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Battery111
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Postby Battery111 » Sat Jan 24, 2015 12:20 pm

popamode72 wrote:Yeah I found out about this a few days ago. Took me a while to find all my linked accounts though.


They do mention on one of the info pages it will be a couple weeks before all features are fully implemented on the new site.
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PlyrStar93
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Postby PlyrStar93 » Sat Jan 24, 2015 1:47 pm

As someone who have been able to access the new version with VantageScore 3.0 since a few months ago, my Equifax report was available there on 12/30/2014, and it does provide weekly update.

As of the scoring, I really wouldn't care too much, as it's FAKO anyway; I mean whether a FICO or FAKO, it's primarily serving as an indicator on some events going on for me, like new inquiries and accounts and balances or else. Scores can reflect how information on reports change, and the information in the report is something I really care about.
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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Jan 24, 2015 3:58 pm

I like the changes - especially access to the Equifax report. With CK and Credit.com I can now get regular updates on all three reports. It was the first time I had seen Equifax since the spring.

I was a bit surprised to see that Schwab did a hard pull on EQ when I opened a brokerage account in 2014. It's a cash account (not margin) so I don't see why it had to be a hard one. Other brokerages have done soft pulls. Still, the only other inquiry on EQ is from Discover, so it doesn't drag me down much.
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ingramjuan
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Postby ingramjuan » Sun Jan 25, 2015 11:43 pm

Checked out the site a few days ago, I like the design, but still trying to understand the vantage score 3.0 model and what companies use their system. I did notice 6 out of 10 of the largest banks use their model??
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takeshi
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Postby takeshi » Mon Jan 26, 2015 9:09 am

Battery111 wrote:Not sure if anyone else has noticed this yet.

They've been gradually rolling it out for quite some time now.

Battery111 wrote:As for the FAKO itself, they're now using vantagescore 3.0. I'm not sure whether this is a positive or a negative, but wanted to let people know.

It's still a FAKO. Allegedly used by some creditors but good luck figuring out who actually uses it.

flan
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Postby flan » Mon Jan 26, 2015 8:59 pm

takeshi wrote:They've been gradually rolling it out for quite some time now.


It's still a FAKO. Allegedly used by some creditors but good luck figuring out who actually uses it.


It's supposedly used by lots of auto lenders. Also, of course, every score -- and I mean *EVERY* score -- you get is also a fake score, in that you don't, and can't, know what lenders are really using. Sophisticated lenders use multiple criteria, which include credit scores available from third parties, but also their own models, and lots of other factors. They don't have any obligation to tell you what they use, nor how they weight them.[1] Figuring out which customers are going to be most profitable is a competitive advantage, and lenders don't tell anyone they don't have to what their methods are.



1) Under certain conditions, if they used at least one credit score as a basis for making a negative decision, they must inform you of one of those scores. But if they're using three, and they weight one of as being much less predictive than others, they can still tell you that one.

rockyrock
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Postby rockyrock » Sun Feb 01, 2015 9:44 am

I've been poking around a little and can't seem to find something similar to the page where you could see all your CC balances and utilization ratios etc on one page. Anyone find this?

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Postby RubenMtzJr » Wed Mar 18, 2015 9:29 pm

The new credit karma is confusing. I cannot found the information that was easy to locate in the last version or design.
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