Why, when I run my credit score on Credit Karma, does it show an N/A or zero?
Hello,The usual reasons for having no available credit score/zero is usually because:You have no open accounts that are able to generate a score for you to the bureaus.You are the victim of identity theft and your entire credit history has been wiped as a measure to erase the fraudulent debts someone else opened in your name.You have no credit history ever. Meaning you’ve never opened any type of credit card or applied for any type of loan. These two things are what generate a score.You are using as the SSN to check this score with what is known as a CPN, a 9 digit number similar to a SSN, but that is either from a deceased child or has never been issued yet in America. Both will not pull a credit score as they are dead numbers.You could even have a score in the past but because of reason number 2, now everything is gone; good and bad and you are at a 0 again.Many credit repair companies offer what is called a “credit sweep” to magically erase all your bad credit in 30 days or less. While this is very easy to do and can in fact wipe your credit it is illegal if you were not the victim of ID theft and if not done properly will erase the good with the bad.I hope this helped you, and remember there are many legal, inexpensive ways to build a healthy, high credit score. Good Luck to you
Why does Equifax, TransUnion, Borrowell, CreditKarma, give me vastly different Credit Scores? They all greatly differ, by 10, 30, or 80 points.
All you really need to be worried about are your FICO scores. There are different versions of the FICO scores from each of the main repositories, and they use different factors and different information points to qualify you and assign you a score. Sometimes your creditors themselves do not provide the same level of detail to each credit bureau.There are also different FICO score versions used by different industries and those can have very different scores. Right now most credit card companies are using FICO version 8 to make their credit decisions. Some have started using version 9.In the mortgage industry we are using older versions of the scores. We use:Equifax - BEACON 5.0Experian - FICO-IITransUnion: - FICO Classic 04All three of these scores are legitimate FICO scores. They are older versions because it has to do with the Automated Underwriting Systems used by Fannie Mae and Freddie Mac and the credit scoring models that those systems are designed around.CreditKarma doesn’t give you a legitimate credit score - if you are looking to see what lenders will use to determine your eligibility for credit. They use Vantage Scores (because they are cheaper) but from a practicality standpoint Vantage Scores might as well be printed on toilet paper for all the good they will do you.I have never seen reference to any lender using the Vantage Score to approve credit for any reason.Recently I checked my Vantage Scores and compared them to my FICO-8 scores on the same day, and either Equifax or TransUnion was 108 points higher on the legitimate score using the same data and same date for the credit pull.Credit Karma has its uses as mentioned in another answer. I like how it shows the dates that certain lenders are reporting their data, and other information that they provide - I just ignore their Vantage Scores (in the credit industry we call those FAKO scores instead of FICO scores).
How accurate is credit Karma?
Credit Karma gives you a fairly accurate ballpark FICO score, but the detail of your credit is very accurate. It will show you how many accounts you have open, negatives, balances, etc. If you open an Amazon credit card, it will show as a revolving account on your credit report. Credit scores don't change significantly in short periods of time. So, don't look for changes any time soon.
How accurate is credit karma?
Equivax, Transunion, and Experion are the real credit reporting agencies and issue a FICO score, Credit Karma gives you a FAKO score and no lender even looks at those
Credit karma.com a scam or legit?
It is legit! happy to say! they have great customer service too if you have questions. They never ask for payment information, ever so there's no way they could scam you anyways. Also they never trick you into purchasing other products either. I have been using it since March, studying all I could about credit, and its a great product to monitor your score. When you log in the first time it seems like they give you alot more detailed information about the accounts you have that are deliquent.. I wrote all mine down. when i logged in other times it didn't seem like they gave quite as detailed info on it but don't let that discourage you it truly is a great service thats pretty darn transparent for being a free service. I was able to raise my score from 601 in march to 635. i have applied for a mortgage loan..but did so a little too soon before my credit was raised enough. the mortgage company sent me a copy of the score they pulled (which at the time was 612) credit karma offers a few different scores because there are multiple ways they are assessed. my score the mortgage company pulled was current with the vantage score they show. apparently this vantage score is formulated more heavily with recent history. the transunion score they show was alot lower and has stayed lower because that one weighs all your older info a little more heavily. (in my case my current history is much better than quite a few yars ago so thats why my scores are so different)