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>'VantageScore has four different generations.' What is a "generation" here? I would be curious to hear if people view Kredit Karma as trustworthy. I think I
by bogomipz 7y ago
>'VantageScore has four different generations.'
What is a "generation" here?
I would be curious to hear if people view Kredit Karma as trustworthy. I think I didn't understand their business model prior to reading this. Thanks
- ceejayoz 7y agoA generation is an algorithm change. For example, in VantageScore 3.0 (used by Credit Karma), your utilization percentage doesn't have a "memory" - your score reflects only your current utilization level. In 4.0, utilization has a memory - if you've been running maxed-out cards for a year, and you pay it all off right before applying for more credit, your score doesn't improve as much as in 3.0. There's a pretty good comparison at https://www.creditkarma.com/credit-cards/i/vantagescore-30/ https://www.creditkarma.com/credit-cards/i/vantagescore-30/ between VS 3, VS 4, FICO 8, and FICO 9. > I would be curious to hear if people view Kredit Karma as trustworthy. I strongly suspect their card/loan recommendations (where they make the bulk of their revenue) are intended to steer users into the ones that earn them the most commission. You'd want to go into it with eyes wide open and do a lot of independent research.
- bogomipz 7y agoThanks for your response and links. I should have qualified my question about the trustworthiness of Kredit Karma better. What I really meant to ask was are they trustworthy enough to hold one's data in exchange for using them as a monitoring service?