credit karma and credit sesame

[mrclose]

I have been using credit karma for over a year, along with credit sesame.

Both show my credit score at around 650 to 686.

Luckily, I was just approved for a home equity loan of $25,000 to pay off some Outrageous credit cards that have a 25% interest rate!

The new loan is 5.75% which will save me Thousands over the years!

My question: My bank BB&T has my credit score at 750!

Why the difference between the bank and credit karma and credit sesame? 

[Oceander]

I have been using credit karma for over a year, along with credit sesame.

Both show my credit score at around 650 to 686.

Luckily, I was just approved for a home equity loan of $25,000 to pay off some Outrageous credit cards that have a 25% interest rate!

The new loan is 5.75% which will save me Thousands over the years!

My question: My bank BB&T has my credit score at 750!

Why the difference between the bank and credit karma and credit sesame? 

Different methodologies for computing the credit score.  Different weights given to different factors.  Quite likely, the credit score your bank has is one that they've customized based on their own underwriting experience.  Credit Karma, et al, provide a more generic, broad-based type of score.

[mrclose]

Thank You!

[Frank Cannon]

Credit cards with 25% interest rates? Are you getting those from the Bank of Vinnie and Vito?

[mrclose]

Credit cards with 25% interest rates? Are you getting those from the Bank of Vinnie and Vito?

Worse, Sears Mastercard!

[Weird Tolkienish Figure]

Credit Karma is just an estimate. It's the difference between a hard pull and soft pull.

I use credit Karma to keep track of debt. Good site.

[montanajoe]

Credit Karma and Credit Sesame are what they call FAKO scores, most lenders use FICO in their lending. There can be a large difference in the FAKO and FICO scores. When you got your loan you should have also got a credit score. That is your real score.

Credit Karma and Sesame are good to track your debt but the scores are not real.

You can get a free copy of your report without a score here  https://www.annualcreditreport.com/index.action.

I check one of the 3 bureaus every 4 months to monitor my file for identity theft.

[Oceander]

Credit Karma and Credit Sesame are what they call FAKO scores, most lenders use FICO in their lending. There can be a large difference in the FAKO and FICO scores. When you got your loan you should have also got a credit score. That is your real score.

Credit Karma and Sesame are good to track your debt but the scores are not real.

You can get a free copy of your report without a score here  https://www.annualcreditreport.com/index.action.

I check one of the 3 bureaus every 4 months to monitor my file for identity theft.

You get the most accurate info if you pull direct from the credit bureaus.  You should also make sure you pull one from each of the three to compare because they don't always have the same info and sometimes there are mistakes on one that you won't notice except by comparison to the other two.

[thackney]

You get the most accurate info if you pull direct from the credit bureaus.  You should also make sure you pull one from each of the three to compare because they don't always have the same info and sometimes there are mistakes on one that you won't notice except by comparison to the other two.

The reason for checking only one at a time is each will give you a free report once a year.  Staggering those between the 3 companies every 4 months give a free check as frequent as possible for just watching your score, watching for mistakes.