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Am I the only one who switched from checking Credit Karma daily to pulling my real reports once a quarter?
I used to open that app every morning, and the score bouncing 3 points up or down would wreck my mood for the whole day. After I got denied for a $2,500 card from my credit union in Tulsa last spring, a loan officer told me the app score is a VantageScore and most lenders use FICO, so I was watching the wrong number the whole time. Now I pull all three reports free through annualcreditreport.com every three months and only look at what is actually on them. Has anyone else made that switch, and did the app score ever match what a lender actually pulled for you?
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jadej501mo ago
Switched to the same thing about two years ago after a mortgage guy pulled my FICO and it was 40 points lower than what the app showed. That gap about wrecked my whole plan because I was right at the cutoff for a better rate. Here is what I tell people now: the apps use VantageScore 3.0 and almost no lender on earth pulls that, so you are basically watching a score that does not count. Pulling all three reports every quarter is smart but also set a reminder to check the free FICO from whatever bank or card you already have, lots of them give it to you now. Also dispute anything wrong the second you see it, do not wait for the next pull cycle, because stuff takes forever to come off. For me the reports matter way more than the score anyway, since a wrong late payment sitting there will cost you way more than a 3 point bounce ever will.
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