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Eli
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« on: November 04, 2009, 06:57:29 PM » |
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I just opened an account with www.creditkarma.com. I am very happy with what I've seen. They offer a free credit score and they tell you a lot about your credit. I was wondering why I had recently gotten turned down for a small credit line increase request. I got a letter saying something about too much debt to credit and I was wondering why that would be the case. I thought my debt to credit ratio was under 20%, but when creditkarma.com showed me it was 300% I almost jumped out of my chair. It turns out I was an authorized user on an account with "no pre-set spending" and they were reporting to the credit bureau a credit limit of $0. I quickly called the credit card company and removed myself as an authorized user. Hopefully now that will clear things up. The bottome line is that creditkarma.com saved the day, and is the only place I know of that will show you your credit score without charging you or making you sign up for free trials of credit monitoring. Their trick is they show you ads and make money off of that. As always, everyone who has a social security number is entitled to a free credit report every 12 months from the BIG 3 credit agencies. You can get that easily by going to www.annualcreditreport.com. P.S. My credit score is 766. Pretty good...I think. |
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-Eli
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stevenk
Full Member
Kudos 1
 Offline
 United States
Location: new york
Posts: 141
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« Reply #1 on: November 05, 2009, 11:43:13 AM » |
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Eli:
Great site! I just signed up and I have a credit score of 787. I scored a C on utilizing my credit stating that I have old non-utilized credit. If I have old cards, should i close them out?
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Dan
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« Reply #2 on: November 05, 2009, 11:48:22 AM » |
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Remember these scores are FACO's, they're not the actual FICO scores seen by lenders.
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steinl321
Newbie
Kudos 2
Offline
United States
Posts: 23
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« Reply #3 on: November 05, 2009, 12:49:18 PM » |
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how does the annualcreditreport.com work? they mail it to you or do you see it instantly?
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Dan
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« Reply #4 on: November 05, 2009, 12:57:33 PM » |
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how does the annualcreditreport.com work? they mail it to you or do you see it instantly?
You see it instantly, but you don't get the scores. |
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Mikeoracle
Full Member
Kudos 18
Offline
United States
Age: 27
Location: Lakewood, NJ
Posts: 163
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« Reply #5 on: November 05, 2009, 02:20:07 PM » |
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Dan, can you please elaborate on what the difference between FACO and FICO?
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Hard work never killed anybody, but why take a chance?
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Dan
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« Reply #6 on: November 05, 2009, 02:29:27 PM » |
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FICO are the real Fair Issac Corp. scores that most lenders use.
FACO's, or FAKO's are just that, they're not the real scores but estimates.
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mancunian
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Kudos 2
Offline
United States
Age: 20
Location: ny, ny
Posts: 148
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« Reply #7 on: November 05, 2009, 06:52:42 PM » |
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i use credit karma to bump off inquiries - from my experience their scores are way off from other sources
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eli1571
Jr. Member
Kudos 1
Offline
United States
Posts: 75
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« Reply #8 on: November 09, 2009, 06:21:03 PM » |
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Thanx for the link it looks like an amazing site but just two questions Is it really totally free or do they ask u for cc details ? And every how often do they update ur credit score ?
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Eli
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« Reply #9 on: November 09, 2009, 07:54:41 PM » |
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Totall free. It could very well be true that their scores are off, but by me they said 766 and I'm pretty sure my score recently was 770 so to me that's close enough.
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-Eli
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Eli
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« Reply #11 on: November 11, 2009, 12:35:15 AM » |
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Dan, please don't post external links on the forums  |
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-Eli
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Dan
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« Reply #12 on: November 11, 2009, 09:27:53 AM » |
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Dan, please don't post external links on the forums  |
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