Join Early Retirement Today
Reply
 
Thread Tools Display Modes
Credit Karma
Old 12-15-2015, 03:41 PM   #1
Thinks s/he gets paid by the post
 
Join Date: Mar 2010
Location: Chicago
Posts: 1,154
Credit Karma

Has anybody heard of Credit Karma? Or has anybody used this site?
ripper1 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-15-2015, 03:52 PM   #2
Thinks s/he gets paid by the post
2017ish's Avatar
 
Join Date: Apr 2012
Location: Nashville
Posts: 2,504
I've used it for some time to keep an eye on things. With the increasing prevalence of FICO/Credit score availability through credit card banks, however, I don't know how much use it really is anymore.
__________________
OMY * 3 2ish Done 7.28.17
2017ish is online now   Reply With Quote
Old 12-15-2015, 03:53 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 3,679
I've been using it for a couple of years. I find that it's pretty accurate. Free, too.
__________________
Married, both 69. DH retired June, 2010. I have a pleasant little part time job.
Sue J is offline   Reply With Quote
Old 12-15-2015, 05:01 PM   #4
Thinks s/he gets paid by the post
Nodak's Avatar
 
Join Date: Feb 2010
Location: Cavalier
Posts: 2,317
Quote:
Originally Posted by Sue J View Post
I've been using it for a couple of years. I find that it's pretty accurate. Free, too.
+1
__________________
"Don't take life so serious, son. It ain't nohow permanent." Pogo Possum (Walt Kelly)
Nodak is offline   Reply With Quote
Old 12-15-2015, 06:07 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sarah in SC's Avatar
 
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,566
Me, too. It is easy and convenient for me to monitor credit reports and scores.
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way

Sarah in SC is offline   Reply With Quote
Old 12-15-2015, 06:19 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 17,173
In these days of identity theft, it's another tool one can use to see if anything suspicious has happened to one's credit record. Its not perfect, but it is a useful tool in the arsenal.
__________________
Comparison is the thief of joy

The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline   Reply With Quote
Old 12-15-2015, 07:31 PM   #7
Thinks s/he gets paid by the post
 
Join Date: Mar 2010
Location: Chicago
Posts: 1,154
Thanks Folks. I think i'm going to check it out.
ripper1 is offline   Reply With Quote
Old 12-15-2015, 07:42 PM   #8
Dryer sheet aficionado
 
Join Date: May 2013
Location: Santa Rosa Beach
Posts: 35
I use it quite often and have for a few years now. It has given me insight on things that I have needed to check up on and that my credit has been improving since i have been monitoring it more often.

I think that having the visual aid to see what my accounts are doing and my debts being paid off is sort of a "payment" to myself for the goals that I have set. I enjoy seeing the progress as I move through time.
Blaineatk is offline   Reply With Quote
Old 12-15-2015, 08:01 PM   #9
Thinks s/he gets paid by the post
Cobra9777's Avatar
 
Join Date: Jul 2012
Location: Texas
Posts: 3,024
I've used Credit Karma for several years. It's one of the better free sources for credit scores and info on how to improve. But now AMEX tells me my FICO score every month. DW and I both have our credit frozen at all 3 bureaus. So, really just don't pay much attention to it anymore.
__________________
Retired at 52 in July 2013. On to better things...
AA: 85/15 WR: 2.7% SI: 2 pensions, SS later
Cobra9777 is offline   Reply With Quote
Old 12-15-2015, 08:33 PM   #10
Moderator Emeritus
aja8888's Avatar
 
Join Date: Apr 2011
Location: Conroe, Texas
Posts: 18,645
AMEX and capital One notify me of my credit score monthly. I have used Credit karma from time to time. I just looked at all three sources and my rating ranges from 805 to 852. Now that's accuracy!
__________________
*********Go Astros!*********
aja8888 is offline   Reply With Quote
Old 12-15-2015, 08:45 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 17,205
I use to use it, but have not since I get my score from two CC companies....


I found Karma to be lower than my real score for some reason... maybe 20 to 30 points..


Just checked an email and it looks like it is 40 points low on Karma.... not that great IMO...

Also, read the terms of use.... they are getting credit info on you (which you agree to) and then sell it to third parties for offers... I am already tired of every site collecting info on what I do...
Texas Proud is offline   Reply With Quote
Old 12-16-2015, 06:29 AM   #12
Full time employment: Posting here.
Taxman59's Avatar
 
Join Date: Sep 2014
Posts: 645
I have used it for several years, and like the info. My sons are using it, and it has helped them with making decisions ("You probably want to have your dad cosign the apartment lease so you can qualify". "But I have a 750 credit score" "Nevermind, you will qualify"), and also to make them aware of the consequences of financial decisions.


Have the day you deserve, and let Karma sort it out.

Sent from my iPad using Early Retirement Forum
Taxman59 is offline   Reply With Quote
Old 12-16-2015, 08:36 AM   #13
Thinks s/he gets paid by the post
 
Join Date: Mar 2010
Location: Chicago
Posts: 1,154
Quote:
Originally Posted by Texas Proud View Post
I use to use it, but have not since I get my score from two CC companies....


I found Karma to be lower than my real score for some reason... maybe 20 to 30 points..


Just checked an email and it looks like it is 40 points low on Karma.... not that great IMO...

Also, read the terms of use.... they are getting credit info on you (which you agree to) and then sell it to third parties for offers... I am already tired of every site collecting info on what I do...
Well, your last sentence now makes me leery of going on this site.
ripper1 is offline   Reply With Quote
Old 12-16-2015, 10:40 AM   #14
Thinks s/he gets paid by the post
 
Join Date: Aug 2013
Location: North
Posts: 4,031
The score is a bit lower than Amex, usually 30-40pts. it does give you a good look into the history of all open/closed accounts which is convenient but I think the major three are doing that with there own service now as well.

They definitely send you offers, as my credit score bounced between Good and Excellent I would get a mailbox full of loan offers or credit card offers, depending on which side of the fence I moved.

If you rack up a lot of debt quickly the loan offers get sent out. If you pay off a credit card, more cc offers get sent out.

I don't mind advertising, its my choice if I acknowledge the ad or toss it.

I check my score once a month or so, I think if you wanted it will recalculate every week.
__________________
Time > $$$ ~ 100% equities ~ FIRE @2031
kgtest is offline   Reply With Quote
Old 12-16-2015, 11:18 AM   #15
Thinks s/he gets paid by the post
2017ish's Avatar
 
Join Date: Apr 2012
Location: Nashville
Posts: 2,504
Quote:
Originally Posted by kgtest View Post
...

They definitely send you offers, as my credit score bounced between Good and Excellent I would get a mailbox full of loan offers or credit card offers, depending on which side of the fence I moved.

If you rack up a lot of debt quickly the loan offers get sent out. If you pay off a credit card, more cc offers get sent out.

....
Interesting. I assumed that all of the solicitations were while on the Creditkarma site. I rarely get credit card/loan offers via snail mail; maybe once a month? Usually, they seem to be from lenders with whom I already have a relationship. (haven't bounced between different levels of credit score though, which may make a difference?)
__________________
OMY * 3 2ish Done 7.28.17
2017ish is online now   Reply With Quote
Old 12-16-2015, 11:26 AM   #16
Full time employment: Posting here.
Willers's Avatar
 
Join Date: May 2013
Posts: 725
I use it and I like their alert process. DW recently applied for credit that I didn't know about and I was alerted to a hard inquiry. I liked getting the heads-up so I could check into it.

I'm sure other platforms do that as well, but I find this one easy to use and useful for my needs.

Regarding solicitations, I've only seen one change since signing up with them. They obviously passed our info on to Discover. We get about one mailing a week from them. I'm OK with this since I'm getting credit monitoring for the price of my info. I consider that the price I pay for it. Nothing is really free...

I wouldn't worry to much about signing up. Heck, if Clark Howard is a huge fan how bad can they be?
__________________
“If you don't do it this year, you will be one year older when you do.” - Warren Miller
Willers is offline   Reply With Quote
Old 12-16-2015, 11:36 AM   #17
Full time employment: Posting here.
hesperus's Avatar
 
Join Date: Aug 2013
Location: https://www.google.com
Posts: 750
Send a message via ICQ to hesperus Send a message via AIM to hesperus Send a message via Yahoo to hesperus
We pay cash for all major purchases - autos, homes, second home, etc. Hence we only use our CC for FF mileage benefits. A good credit score isn't that much of a concern to us, although we prefer it not fall under 800. So, we do get monthly updates from credit karma. I don't think we've been getting spam from 3rd party people as a result of this, although i will be paying more attention now.
hesperus is offline   Reply With Quote
Old 12-16-2015, 11:41 AM   #18
Thinks s/he gets paid by the post
Gotadimple's Avatar
 
Join Date: Feb 2007
Posts: 2,605
I have never seen spam from CC companies and have used this site for many years. Differences in credit scores come from the different methodologies used by the three bureaus. CreditKarma uses only one of those bureaus, which is why it may look different from the score you get from Amex or CapOne - different bureaus.

-- Rita
__________________
Only got A dimple, would have preferred 2!
Gotadimple is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Do you believe in Karma? easysurfer Other topics 22 10-24-2010 06:03 PM
Instant Karma from The Soup Nazi CuppaJoe Health and Early Retirement 42 08-19-2008 05:03 PM
Best cash rewards credit card for someone with no credit history? summer2007 FIRE and Money 11 10-16-2007 02:23 AM
Credit Cards and Credit Matuski Other topics 21 08-14-2006 12:40 PM

» Quick Links

 
All times are GMT -6. The time now is 12:45 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.