CreditKarma (and only CK) scores taking a big hit?
Mar 24, 2015, 9:21 am
#1
Original Poster
Join Date: Apr 2007
Posts: 1,857
CreditKarma (and only CK) scores taking a big hit?
Just doing a sanity check here - is anybody else seeing this same problem?
Obviously, CK changed their scoring model to Vantage Score 3.0, but that was in late January. If anything, my scores (I manage accounts from multiple people) saw a 15-20 point boost from that. But in the past couple of weeks, every single one of my scores has taken a 50+ point plunge.
This can't be related to the scoring model change, since that took place almost 2 months ago. And yet in the same timeframe, my "true" FICO scores from banks/CC companies have only moved a point or two (mostly up).
I haven't done any AORs in the past few months, and only one of the people whose scores I track has even opened a new card (and that was just a single card). And even when I do a 5-7 card AOR, I usually see a drop of less than 10 points, not 50.
I've checked my credit reports, of course - no new accounts opened by someone else, nothing reporting as late/overdue/whatever.
So I guess the question is: are other people seeing the same thing? Have you had a drastic drop in your CK scores for no discernible reason? It looks like I may have to start using them as a place to pull my credit reports for free, and not much else - I'm not sure their model is solid anymore.
Obviously, CK changed their scoring model to Vantage Score 3.0, but that was in late January. If anything, my scores (I manage accounts from multiple people) saw a 15-20 point boost from that. But in the past couple of weeks, every single one of my scores has taken a 50+ point plunge.
This can't be related to the scoring model change, since that took place almost 2 months ago. And yet in the same timeframe, my "true" FICO scores from banks/CC companies have only moved a point or two (mostly up).
I haven't done any AORs in the past few months, and only one of the people whose scores I track has even opened a new card (and that was just a single card). And even when I do a 5-7 card AOR, I usually see a drop of less than 10 points, not 50.
I've checked my credit reports, of course - no new accounts opened by someone else, nothing reporting as late/overdue/whatever.
So I guess the question is: are other people seeing the same thing? Have you had a drastic drop in your CK scores for no discernible reason? It looks like I may have to start using them as a place to pull my credit reports for free, and not much else - I'm not sure their model is solid anymore.
Mar 24, 2015, 9:27 am
#2
Join Date: Apr 2014
Location: UES/MWC
Programs: Braniff, TWA, Eastern, Midwest, AA Exec, Club Carlson Gold
Posts: 270
Nope; CK still shows my TU and EQ scores well above 800, as they have for quite a while. My TU Fako has gone down a bit due to several recent inquiries; my EQ Fako is the same as last month's.
Mar 24, 2015, 12:23 pm
#4
Join Date: Jul 2013
Posts: 384
Nope but I don't really see much point in worrying over your VantageScores unless you know for certain that one of your creditors actually uses them.
Have you checked for accounts falling off? Changes aren't just new accounts and derogs. Make sure you're carefully comparing reports from before and after.
You really can't rely on one model to determine the score generated by a different model -- even if both models are FICO's.
Have you checked for accounts falling off? Changes aren't just new accounts and derogs. Make sure you're carefully comparing reports from before and after.
You really can't rely on one model to determine the score generated by a different model -- even if both models are FICO's.
Mar 24, 2015, 5:20 pm
#5
Join Date: Mar 2014
Location: PWM
Programs: AA Plat
Posts: 1,335
CK has always been a FAKO but this is pretty pathetic. I love how they say "all the lenders use this score." How the heck can we extrapolate to old data with this change? I've been with CK since May 2009 and find the new site virtually unintelligible.
Mar 25, 2015, 12:01 am
#7
Join Date: Apr 2012
Posts: 232
hmm interesting, I thought I was the only one... my FAKO scores too have taken a noticeable dip.
and for the first time in recent mem they are way below my "real" FICO scores that some of my bank CCs provide.
I have been applying for new cards every now and then. as well as closing cards, so my util ratio has gone up a bit but nothing too bad. on the other hand, I have been letting a few cards statements close with high balances due to my MS turnaround.
and for the first time in recent mem they are way below my "real" FICO scores that some of my bank CCs provide.
I have been applying for new cards every now and then. as well as closing cards, so my util ratio has gone up a bit but nothing too bad. on the other hand, I have been letting a few cards statements close with high balances due to my MS turnaround.
Mar 25, 2015, 1:31 pm
#8
Join Date: Feb 2015
Posts: 186
I had this happen, too. I was very confused. The only thing that changed from week to week was a balance transfer being double reported which changed my utilization from around 30-35% to around 50%. As it sits now, CK tells me my TU FAKO is around 680 (it dropped to an abysmal score of around 630 for a week (and only a week), while Barlcays' TU FICO shows as being 739 (updated about 2 weeks ago). Makes me trust the FAKO scores even less.
Mar 25, 2015, 2:11 pm
#9
Join Date: Apr 2013
Location: Lehigh Valley, Pennsylvania
Programs: Milege+, SkyMiles, AAdvantage, HHonors Diamond, Marriott Gold
Posts: 1,685
My real TU and EQ went up, but on Credit Karma, they went done quite a bit since their recent switch to 3.0 Therefore, I will no longer use Credit Karma.
Mar 25, 2015, 5:02 pm
#10
Join Date: Aug 2011
Location: The Phoenix Desert
Programs: Hilton Cubic Zirconia, Marriott Fools Gold
Posts: 1,692
CreditKarma (and only CK) scores taking a big hit?
my score dropped on ck about 40pts from Feb... but I think for me it was due to some poorly timed purchase postings. I had 2 cards with moderate balances, 2 with annual fee balances, 2 new accounts and 2 new hps. I'm waiting a few extra days on my next aor to let the dust settle just in case.
Mar 25, 2015, 7:05 pm
#11
Join Date: Feb 2015
Posts: 34
The value of CK was never the accuracy of the score, it was the tracking tools, alerts, and now the full(ish) credit reports.
Mar 27, 2015, 2:10 pm
#15
Join Date: Nov 2010
Location: Traveling some where hopefully
Programs: AS, AA Gold, and Hilton
Posts: 1,954
In my case one went down 1 point and the other 2 points so no difference. Still well over 800+