Description: This passage is about credit-karma-login-my-account which tells you something about the Credit Karma. You will learn About the new changes To Credit Karma Accounts, Credit Cards and Loan Suggestions.
This is Calvin Russell, co-founder 850 Club credit consultation. I hope everyone is doing well today. I am about to get out of the office. I should have left a long time ago. But there are a few changes.
If you haven’t already started with Credit Karma we have a lot of our clients that use Credit Karma. It is the best tool to monitor your credit for free every single week. Granted 90% of new lenders use FICO.
It’s not so much for the scoring. It’s more for the report changes. I will give you a quick update. For number one if you haven’t seen the changes yet, they make more security changes. With the security change all they’re doing is that people are not using multiple devices, it’s too easy to get into a Credit Karma account. It is enough for our clients.
It has to be some level of security. They don’t have your whole social for those who don’t know that. A lot of times people get afraid about it. The algorithm is still making slow changes as well if you are seeing that with Equifax.
A lot more people have lower Equifax scores than TransUnion which is weird. Because TransUnion is the most used credit bureau. What that means is that people are having lower Equifax scores even though the TransUnion report they may have more accounts more increase.
That’s not necessarily Credit Karma. That is the new Vantage scoring process that credit Sesame uses, that Credit Karma uses and wallet hub. A lot of these are free.Credit report type deals they have.
They’re using that Vantage no scoring method.It’s not a Credit Karma thing. Credit Karma is one of the only ones that advertises. It is the credit Sesame advertiser. But it is mainly on the radio and pandora. Either way you got to start to see a lot with process.
A lot of lenders are still not feeling it. No less than 10% of lenders use the Vantage scoring process. I’ll give you an example. I have a client. His score was not high enough to get a mortgage. Granted that the lenders don’t use Credit Karma at all.
It is the only platform that a consumer can use where he can check it every single week. We are waiting for his score to get to a certain. If we were late for a school to get to a certain point. The only way to track that was with Credit Karma.
I noticed that once his score is not made an improvement on Credit Karma. The changes have been made. Credit Karma’s users don’t use credit card for a score. No one’s going to use it for the actual raw report.
A lot of people say the report is not accurate thing. I don’t like how Vantage updates the scoring process. Because we deal with so many clients. 70% of Credit Karma people don’t have issues. But you had a good 30% where their score dropped for no reason. They’ll call me, they’ll text or email us. They’ll say their scores drop. That’s the Vantage scoring process.
You get what you paid for the free side. They get that from the credit bureaus. The biggest change is that you are starting to see a lot of the changes with the vendor scoring process. That’s changing. The next thing is about the multiple device. They want to make sure that it is the same device being used.
Unlike banking if you have a checking account and if they’re very strict on type of device that you use, you have to get that approval. They’re going to send a code. I’m not saying it for a lot of my clients. I’m saying maybe less than 10%.
They’re trying to make sure that people are not being hacked into especially if it’s from a different location. Because we check no credit reports all the time from different locations. We don’t have to have a person’s authorization but we’re starting to see that more frequently.
That doesn’t mean it to acting like that. It’s letting you know that if you go from a cell phone or a desktop it’s going to say we don’t recognize this device. That’s what we’re starting to see. Credit Karma’s saying I don’t recognize this device and identity.
I’m not necessarily sure what algorithm they use but the algorithm if you read the fine print will always be done the bottom of your pushes. Your credit repair costs up not a lot. I promise you. We’re very competitive market. But I don’t want too much. Make sure you send me an email as well when you get some information at the 850 club.com.
It’s on all the descriptions. You can always give us a call. The last change is the Credit Karma suggestions. What they’re doing is that they go into a slightly different platform where they’re pushing more products based on who pays them the most.
For example I had a client. I’m not going to say the bank’s name. They’re doing good job. I will continue using my FICO. It makes sense to use FICO. But if you’re not looking to keep paying, because we all know Franklin FICO is not free, you don’t want to get all the scores.
If you go to my FICO.com, you could do like Miss Brooklyn. What I’m noticing is that people is that for example this person’s a seven twenty seven thirty seven fifty somewhere in that range and he had got an eighth credit card suggestion. For this type of card they specialize in subprime.
What we’re starting to see is that this person should not get that suggestion. With unseeing it with a lot of clients where they’re getting suggestions at the top, it does not like better than that. But these people don’t know. Because they’re not using Credit Karma.
The industry person seeing their credit report maybe their spouse, boyfriend, girlfriend or maybe a family member. They can see what they’re using. But since I see so many different types of Senate cards, you should stay away from it especially as you start going up the ladder.
I know someone of you have been for a while doing a credit card like ladder type deal. Sometimes people have had good credit for so long. They forget what it’s like to be in that 300 range, that 400 range, that 500 range what a lot of people are.
People get lost. People start talking about Chase Sapphire, American Express, platinum and gold. They’re not at that point. They’re lost between that. Don’t worry. Shoot me an email whenever you got any questions, comments or concerns. The line is always open.
I get complaints sometimes. I don’t want to be rude but I can’t make everybody happy. So send me an email where I can focus directly in your situation.