Credit Karma

abrewer5 · July 2014

Hello! I use Credit Karma to check my score periodically. I'm working on paying off debts and trying to see how it affects my score when I do. Unfortunately Credit Karma isn't updated with my paid off credit card info (over $4000). They have the option to link your Credit Karma to your credit card accounts, has anyone done this? I don't know from a safety standpoint if this is the best idea. If anyone has experience, good or bad, I'd appreciate feedback.

Thanks!

Wulfgar · July 2014

I haven't because I personally don't worry about my credit score. I am years away from buying a new car and the last loan that MW and I got, our credit scores where in a good range.

It is far better to use the three free credit reports using the government website instead of watching your credit score.

CuriousKiddosMama · July 2014

I think Credit Karma sucks honestly. They have my credit score in the low 600's. Just got a full credit report from applying for the mortgage my score is 806. You get what you pay for I guess.

To answer your question, I think it probably just updates once your credit card reports that the balance is paid off. I wouldn't link your information there- I think it's just so you can see all your balances and information in one place, it won't affect your credit score.

abrewer5 · July 2014

Wulfgar said:

I haven't because I personally don't worry about my credit score. I am years away from buying a new car and the last loan that MW and I got, our credit scores where in a good range.

It is far better to use the three free credit reports using the government website instead of watching your credit score.

Which government site do you use? Is it free?

I won't be purchasing anything big any time soon, I just want to see if my score is improving as I make these changes and how much it's changing.

Xstatic3333 · July 2014

Credit Karma should update about a month or so after you paid off your account. Congrats on the debt payoff!

hoffse · July 2014

abrewer5 said:

Wulfgar said:

I haven't because I personally don't worry about my credit score. I am years away from buying a new car and the last loan that MW and I got, our credit scores where in a good range.

It is far better to use the three free credit reports using the government website instead of watching your credit score.

Which government site do you use? Is it free?

I won't be purchasing anything big any time soon, I just want to see if my score is improving as I make these changes and how much it's changing.

Yes you are entitled to receive your credit report from the 3 credit bureaus (who are the ones actually calculating your score) once a year for free. I always pull mine on my birthday so I don't forget.

hoffse · July 2014

Oh and the three credit bureaus are equifax, experian, and transunion. When you do it that way you are getting the credit reports from them directly.

formerlyGDaisy09 · July 2014

Since you can check each credit bureau for free once a year I check my score every 4 months (each time with a different bureau) I put a reminder in my calendar.

nofksgvn · July 2014

vikingsfan711 said:
I think Credit Karma sucks honestly. They have my credit score in the low 600's. Just got a full credit report from applying for the mortgage my score is 806. You get what you pay for I guess.

To answer your question, I think it probably just updates once your credit card reports that the balance is paid off. I wouldn't link your information there- I think it's just so you can see all your balances and information in one place, it won't affect your credit score.

Credit Karma is your TransUnion score which is used by at least one large bank that I know of for lending, so it's definitely helpful.

emily1004 · July 2014

I feel the need to set the record straight! (This is in no way legal advice)

You have about a million credit scores out there. Vantage score, FICO score, etc. In all honesty, you have about a dozen. In my professional opinion, you should NEVER pay for a credit score or a credit report. The idea of a credit score is just a money making scheme that was started by the major credit bureaus to increase their profits. They relay on customers vulnerability, that you "Need" your credit score. YOU DO NOT! You should however check your credit report every year. THIS IS FREE!

Credit karma is NOT always accurate. Thus making it useless to me.

You get one free report from each bureau, Experian, Equifax, and TransUnion. The only website for this is annualcreditreport.com IF you are declined for credit you are allowed another free copy of your credit report. This is all federal law.

Edit: When you apply for a mortgage, you will get three scores from the bureaus. You do have to pay for them to pull your report however. I think this is BS, and should be changed.

jessica490 · July 2014

This was mentioned before, but I get mine on my Discovercard credit card statement every month so I just go off of that. I get my free credit report every year to review but I will never pay for my score as I know it's above 800. If we buy a car or house, I will ask for my score at that time as well.

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