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re: Help understanding credit scores
Posted on 7/24/12 at 7:17 pm to coonass27
Posted on 7/24/12 at 7:17 pm to coonass27
There isn't just one credit score. There are many different variations.
Karma uses the Vantage score, which isn't really the same as the FICO most lenders use. Vantage scores do tend to be higher than FICO. Thing is, if you gained 75 points on one you probably did on the other too, or near enough. But the FICO score will still be a good bit lower. That's okay though, the lenders know the difference.
The exact number isn't as important as the direction, sounds like you are doing the right things but it just didn't help as much as you'd hoped. Just be aware that Vantage 700 isn't good, whereas FICO 700 is doing reasonably well. The scale is different, that's all, so you can't make a direct comparison.
Karma uses the Vantage score, which isn't really the same as the FICO most lenders use. Vantage scores do tend to be higher than FICO. Thing is, if you gained 75 points on one you probably did on the other too, or near enough. But the FICO score will still be a good bit lower. That's okay though, the lenders know the difference.
The exact number isn't as important as the direction, sounds like you are doing the right things but it just didn't help as much as you'd hoped. Just be aware that Vantage 700 isn't good, whereas FICO 700 is doing reasonably well. The scale is different, that's all, so you can't make a direct comparison.
Posted on 7/24/12 at 7:28 pm to foshizzle
It was an add on credit Karma for trans union. I went in and got my trans score free with credit monitoring. Once in, it only gave you a trans union score. You can purchase the other 2 scores from Eqifax and experian. I did this and they were all high. But the same companies numbers through my lender are way lower than what I saw today.
Experian is 83 Pts difference between the one I pulled as theirs
Eqifax is 105 Pts diference
And trans is 66 Pts difference.
Experian is 83 Pts difference between the one I pulled as theirs
Eqifax is 105 Pts diference
And trans is 66 Pts difference.
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