Take Your Score From 650 To 800 With The Credit Karma Report Card

Credit Karma recently launched the free Credit Report Card service that assigns letter grades to each component of your credit score. If you want to improve your credit score, try to bring up your performance in areas where you have low or failing grades. Not every component has the same bearing on your score, so underneath each section Credit Karma tells you how much weight it has. For those who look at their reports and scratch their head, the Credit Karma report card, which is drawn from your TransUnion report, makes understanding why your credit score is the way it is a snap. Full screen shot inside.

Credit Karma Report Card (requires registration)

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  1. nataku8_e30 says:

    I seem to be doing rather poorly with the # of accounts thing, and just have to ask, how the heck do you get that many freaking accounts? Am I supposed to be taking out loans for furniture, cars, pretty much everything I buy?

    • pop top says:

      @nataku83: I have friends that moved into a new place two years ago and took out a credit card for every place they bought stuff at; Home Depot, Lowe’s, Sears, etc. Their reasoning was that it was 0% interest for a year, which they could pay off quickly, but then they bought a new car.

    • Eyebrows McGee (now with double the baby!) says:

      @nataku83: Yeah, that was my lowest score as well, and that they want you to have FORTY-ONE accounts to get an A boggles my mind.

      However, I do note that it counts both open and closed accounts. And I’m guessing that it’s actually counting credit cards where they’ve closed the account because the number changed — card was stolen or number was compromised — as separate closed accounts, because there’s no way I’ve closed 14 accounts in my life. I think I’ve closed ONE, and that was my one and only store credit card when the store went out of business. (Oh, well, I did pay off a student loan. So maybe two.)

    • MostlyHarmless says:

      @nataku83: Which is interesting, because my last credit report (a month ago) told me that my plus point was that i have enough lines of credit with different people, and thats a great thing. I only have 2 credit cards, citi-visa, and amex, and one car lease loan.

      Maybe they grade the curve according to age/status? (not implying that any of you are ancient or over the hill or anything…)

      • MostlyHarmless says:

        @MostlyHarmless: No, I just checked, it saying 41 for me as well. Something weird.

        And I get an F in that category. Sucks.

        I also have an F in the “average length of the credit account” category. 1 year and 2 months. Looooong slog ahead.

        Also, having only 1-2 hard inquiries dents your grade. How are you supposed to get 41 accounts without inquiries?

        There dont seem to be any other surprises. Now they didnt ask for my credit card numbers… so I guess no chance of them sneaking in a charge, is there? (if they did, would it be unauthorized and of highly illegal?)

    • oneandone says:

      @nataku83: I noticed that my student loans (through 2 companies) were ‘closed – paid in full’ when I consolidated them @ graduation. So instead of 2 loans, 4 of them appear. So 1 credit need (going to school) gave me 4 items, which is good in a way. Not sure how relevant that is for you, but I found it interesting.

  2. downwithmonstercable says:

    Nice! I’m going to give this a shot. I’m not gonna get all kinds of crap in the mail after I sign up though right?

    • goodpete says:

      @downwithmonstercable: Yeah, let us know if you do. :-)

    • Eyebrows McGee (now with double the baby!) says:

      @downwithmonstercable: I signed up for it last time Consumerist mentioned it (using my semi-spammy e-mail account) and I have gotten no spam and no snail junk mail.

      • downwithmonstercable says:

        @Eyebrows McGee (now with more baby!): Cool. I’ll get this going when I get home from work. I’m interested to see what it says.

        My/my wife’s credit was excellent when we bought our condo three years ago. Nothing bad has happened, except that my credit card that I got in college was closed because I never used it, so it shortened by credit history by a couple years. I’m hoping the impact isn’t too bad.

    • diesel54 says:

      @downwithmonstercable: I’ve been on Credit Karma for almost a year and I don’t get anything at all. Though I also used optoutprescreen.com so that might help. Credit Karma seems pretty good. I’m closing on a house and found out my actual score. Credit Karma had me 30 points too low, but still a good estimate.

    • CK_Founder says:

      @downwithmonstercable:

      We really believe in doing the right thing for the consumer so no unsolicited emails and no selling, renting, or sharing of user information.

      • downwithmonstercable says:

        @CK_Founder: Well I guess that about answers it. Straight from the founder’s keyboard.

      • craptastico says:

        @CK_Founder: i just signed up and everything seems great. not to be a jerk, but how do you make money exactly? i’m always more leary when i don’t know how someone is making money b/c i assume they’re selling names or something. you only have a few ads, although it seems like you’d have a pretty good success rate of people clicking on them since they are related to the material covered on the site.

        • CK_Founder says:

          @craptastico: I think you are asking a very important question. We try to focus on financial services advertising that will be most relevant for the user. Our goal it to make a few pennies per user rather than $15/month per user. We make a lot less than the others so you won’t see us TV with a singing pirate but at least Ben wrote about us in a positive light.

    • n301dp says:

      @downwithmonstercable: I signed up a year and a half ago, forgot I had an account, tried to sign up again today, and was reminded of that fact. No e-mail, no spam, and a (seemingly) great website! Thanks @CK_Founder!

  3. catnapped says:

    It dings you rather severely for having little or no debt.

    • kduhtoe says:

      @catnapped: I don’t understand what you mean. Could you elaborate?

      • catnapped says:

        @kduhtoe: Look in the graphic above where it says “open credit card utilization” (which is how much of your available credit limit you’re using). The example person has 0% and got a “C” rating. Mine was a “D” rating (again very low utilization). Unless the site’s interpretation is that you have too much potential available credit that you can go on a field day, they’re saying you NEED to be in debt to get a higher rating.

    • Pete Kopplin says:

      @catnapped: I have heard financial “get-out-of-debt” gurus like Dave Ramsey talk about having a zero credit score after being totally out of debt long enough. The reasoning is along the lines of “How can a bank rate your risk if you don’t have any risk?” Bad when applying for loans, but great in the long run.

      • Alexander Saites says:

        @Pete Kopplin: I think in many cases the demographic Dave Ramsey is talking to no longer needs a credit score. They’ve got a house, a solid job (well, maybe not now), and likely aren’t in a position that they need to take on new debt. A few exceptions I can think of, though, would be cosigning for their children (student loans, first apartments, and the like). I may be completely wrong; I’m just conjecturing.

        • Fist-oô says:

          @Alexander Saites: You may be right, but the Ramsey-ites would also subscribe to his opinion of Co-signing: NEVER EVER CO-SIGN A LOAN FOR ANYBODY. Ever.

        • Tux the Penguin says:

          @Alexander Saites: The point of Dave Ramsey and others is to simply break out of the attitude that debt is good. Not to mention the idea that you “deserve” a good life at all times.

          Interest can add up quickly, especially once you throw in two cars, a few credit cards, etc.

          The only interest he advocates paying is for a home, but even then says to pay it off ASAP.

          When my wife and I got out of debt, it was amazing to see how much extra income we had. Except for purchasing a new house, we have been debt free since. I can only imagine if a college student worked his way through college, no credit cards, no loans, and got a 50k job starting out… he’d have cash flow like crazy.

    • Kamidari says:

      @MercuryPDX: I think you just need to utilize your credit cards, not carry a balance. At least for mine, it seems to show roughly what I charge each month, which is always paid in full. I got an ‘A’ for 8% utilization.

      • Kamidari says:

        @Kamidari: That’s odd – I replied to a different post, but it ended up here. Oh well, at least it’s on a post on the same topic. ;)

    • labeled says:

      @catnapped: Welcome to credit-scoring. The reasoning is that lenders like to see that you can manage credit well.

  4. hills says:

    This looks GREAT! Wish it were posted a day sooner – for the first time ever I paid for my credit score online last night – bad timing!

  5. max_k says:

    This is a little thin on details. Who are these guys? Why are they giving this service away for “free”? What’s the catch, and why should I let them see my credit reports to begin with?

    • CK_Founder says:

      @max_k:

      I can appreciate your concern. We launched the service over a year ago and have been featured on WSJ, Bloomberg, and of course The Consumerist in the past.

      Our press page should give you a sense our credibility.

      [www.creditkarma.com]

      • wallspray says:

        @CK_Founder: You responded in a way that says “these reputable people like us” rather than explain to max_k the answers to his questions. That right there makes it even scarier.

        • Xkeeper says:

          @wallspray: Maybe it has something to do with the fact that every answer to his question is, surprise, answered on their page. I’m not kidding, look at the FAQ — every single one is there.

          The “reputable people like us” is to say “You can trust that we aren’t going to lie to you”. If you can’t trust them, then why would he believe any answer they gave in the first place?

  6. MercuryPDX says:

    I signed up and have fairly good grades with the exception of my utilization rate (C+ for having 0%). I guess I’m gonna have to go on a wild spending spree to fix that. (NOT!)

    • downwithmonstercable says:

      @MercuryPDX: Is the utilization rate really what it sounds like? Like, it’s better to have a cc balance rather than not have one?

      • MercuryPDX says:

        @downwithmonstercable: It is exactly what it sounds like:

        “Credit card utilization is defined as the total credit card debt you have divided by the total available credit on your credit cards. High credit card utilization can be a warning sign of credit risk.”

        (I guess Low Utilization is bad too)

        • downwithmonstercable says:

          @MercuryPDX: Weird. I wonder if they consider it a good thing to keep a “healthy” (ie, not super-high) balance and keep paying it on time? Maybe it helps prove you can actually make payments on time?

          But even still. You’re paying interest on something rather than being responsible and using cash when able. I guess I get it, but it sucks that it hurts you in the process of raising your score.

          • CK_Founder says:

            @downwithmonstercable:

            This is actually a misnomer. CC companies report your balances on a given date not based on your “revolving” balance. This means you don’t have to pay interest to show utilization. It simply means you have to use your card. We recommend a tank of gas a month paid in full to show usage while not overspending

            • catnapped says:

              @CK_Founder: Tank of gas is what $40-50? Probably not going to count for much in the utilization category if they’re putting weight into it (and assuming you don’t have a $500 credit limit)

              • CK_Founder says:

                @catnapped:

                Usage is the key. You want to show that you can use your card responsibly. Most people believe that they need to spend a lot. That is not the case. Just showing activity is enough.

            • MercuryPDX says:

              @CK_Founder: I have all my house accounts (Cable, utilities, phone) and my incidental charges (Gas, dining out, shopping) charging to one credit card (roughly $600-$800/mo.) which gets paid off every month.

              So you’re suggesting I rotate out the incidentals to one or two other cards instead?

              • CK_Founder says:

                @MercuryPDX:

                Usually, keeping accounts active is good for your credit but in this environment it might also prevent the unused lines from being closed down.

          • MostlyHarmless says:

            @downwithmonstercable: What the founder said. What I do is I basically charge everything i can on the CC (except Rent, car payment, personal checks etc), and pay it all off every month.

            The report shows my usage at about 21%, which sounds about right.

            Though it might be slightly dicey, if the take a particular date. It might be too low if I have just made the payment, or too high if its one of those “big ticket item” months.

            But overall, it seems about right. As in it says “yes, you have the credit line, and you use it responsibly every month, and you use less that 25% of it, that means you have self control.”

            • downwithmonstercable says:

              @MostlyHarmless: So is the target somewhere around 20-25%? I have two cards, one has a $25,000 limit and the other $15,000. I can’t imagine having a target of 20% on each of those each month. The only use I get out of each one is one of them is tied to my Amazon account so if I buy something on there it just goes on the card to get points, then I pay it off each month. But it’s usually movies or a book or an xbox game or something, so at most maybe $50 a transaction, once every 3-4 months or so.

              I’ve never felt so noobish on financial stuff before :P

              • MostlyHarmless says:

                @downwithmonstercable: No. 1-20%

                I have 21% and I got a B. It says the range for A is 1-20%. So I assume something like 5-10% would be a healthy range, though technically 2% would be a good bet too.

                Also I suppose you don’t have to have same balance on both. Just keep it under 20% (25% is okay too) on both of them, and it should be cool.

                I for instance did not alter my spending habits at all. All I did was instead of whipping out the debit card, I whip out the credit card. Works great, seeing as how I get rewards points for all that :)

                And I have the same problem as you. I would only go over 25% limit in a month is if I bought something big, and it disappears the next month anyways.

    • catnapped says:

      @MercuryPDX: That’s what I said–ridiculous.

    • Anonymous says:

      @MercuryPDX: Utilization doesn’t mean you’re carrying debt. It just means that you use your cards.

      For example, I put as much as possible on my cards every month (basically *everything*), and then pay the statement balance in full each month. My utilization is around 15%, because the bank reports what’s on the cards at the time of reporting, not how much debt I’m carrying over from month to month (which is $0).

      If you have $0 utilization, then you’re doing something wrong. You could be getting close to 2% average cash back with the right mix of cards (or more if you’re really diligent), without spending any money carrying a balance. This is basically free money, paid for by the people who do carry balances and the merchants who are footing bill on the transaction fees.

  7. William Brinkman says:

    I found out what I had suspected: I lose huge points for never carrying a balance and keeping only a few accounts- stuff I believe is a practice in responsibility.

    I don’t know how people keep track of 41 accounts and suspect the answer (much to the glee of fee-happy lenders) is “they don’t.”

  8. Anonymous says:

    This is excellent for someone like me who is looking to pay off debt and increase their credit score.

    Regarding the 43 accounts thing, it seems to track ALL open accounts (including store cards) on your report..and let’s remember even if you close an account, it’s on your report for 10 years. Apparently I have 8 open accounts and there’s no way I have 8 different credit cards. But when I think of additional accounts that I have and never use (like Macy’s), 8 sounds about right.

  9. VA_White says:

    It gave me a D for my credit mix. I think it’s because I no longer have a mortgage. We are military and only bought a house at one duty station. But overall my score rocked.

  10. Alexander Saites says:

    Sweet! Opened my first student credit card 2 months ago, and already at a 731. I guess I get dinged for “utilization.” My limit is so low, every dollar has a drastic impact on that fact.

    I did fail a few categories, as a result of being so new to it all. Glad to know my sense of responsibility has paid off so far, though.

    • Coelacanth says:

      @Alexander Saites: Problem is, it’s only an estimate score and chances are, a real FICO score won’t be generated until you’ve had about a year’s worth of credit history.

      Still, it means you’re on the right track.

  11. JonThomasDesigns says:

    Nice looks legit .. The score was comparable the the MyFico score i got from the free trial .. But one thing that was odd was it did the A,b,c,d thing for loans i have out the confirm my account .. no none of the answer had anything to do with me as far as auto loan and i do not even have a mortgage loan ..

  12. Rectilinear Propagation says:

    drawn from your TransUnion report

    Does anyone actually use TransUnion when checking your credit? Anytime someone has checked mine they’ve used Equifax. Nobody seems to care what the other two bureaus think.

  13. Nate128 says:

    Having “only” 9 total accounts gives me an F for that category. Yay! I will go out and open a couple dozen more accounts to take care of that, because it seems like the responsible thing to do!

  14. sanjsrik says:

    IF you have fraud protection on your accounts this service is useless as they cannot access credit scores.

    • oneandone says:

      @sanjsrik: I just found this out – put fraud alerts on just a few days ago, as a precaution.

      Interesting that they were quite speedy about it – I just did it through Equifax (easiest online form of the 3) and was planning to follow up with the others today – but it looks like Equifax really sent the word around, like they said they would. Hmm.

  15. Mobius says:

    It’s like Mint.com. They make money by offering you credit cards and other offers, which they also use to pay off Transunion to get your credit information. Also, like Mint, it seems super legit. They should get together with Mint, I think. :)

    • sanjsrik says:

      @Mobius:
      Mint’s credit card offers are silly. They keep offering me a credit card that has a higher interest rate AND an annual fee and keep telling me it’s a better deal than what I have now.

      there have been NUMEROUS complaints about mint’s “offers” on their forums.

      • Mobius says:

        @sanjsrik: Hmm… that sounds seriously lame. I’ve never looked at their credit card offers since I just happily got out of all my cards and am now credit card free!

    • Jason Asylum says:

      @Mobius: Mint.com is a great service. Unfortunately it doesn’t work right for many people and their customer service is horrible. It’d be cool if Mint.com got together with CreditKarma and showed the approximate credit score from CK… but I think for the time being Mint should concentrate on fixing what they have before adding new.

  16. Zclyh3 says:

    I find this service to be highly useful in being able to explain in simple ENGLISH TERMS.

  17. Anonymous says:

    Unfortunately, CK’s computation of open credit utilization is buggy:

    CK correctly added the current balances of my two credit cards but they didn’t sum the available credit of the two cards as well. Instead they used only one card’s available credit limit and thus I received a ‘C’ grade for 48% open credit utilization when the correct grade is actually ‘A’ (7% utilization). This significantly impacted my final score. I know that both cards appear on my Transunion report. (Otherwise, how could they have summed the credit amounts?)

  18. Jason Asylum says:

    From what I can tell… these grades aren’t based on actual credit score advice, but based on comparisons to other CK user data.

    Example: Users in the 41+ account bracket on CK happen to have higher scores. That does not mean you need to have 41+ accounts to have a higher credit score. 41+ accounts on CK have an average score of 697.

    This score card is only useful in comparing yourself to others, not necessarily taking steps to increase your own credit score. Which, CK should probably inform users about, in my opinion.

    • Jason Asylum says:

      @Jason Asylum: Ah, looks like they do.

      “Our goal is to help users identify areas they need to improve by providing comparative metrics against other members.”

      Not exactly super clear, and its at the end of the intro paragraph.

      But there you have it… these are just comparative metrics, grades based on where you stand against other CK members, not grades based on your actual credit health.

      • MostlyHarmless says:

        @Jason Asylum: I think it is more of [Actual Card Health] + [Aggregate Data] + [Best Practices]

        So basically they take into consideration what the best things to do are (pay on time, etc etc) and then compare that to other users, so you get a better idea.

        For instance you can get an idea of what all those 700+ users are doing to have that score etc.

        • Jason Asylum says:

          @MostlyHarmless: I’m not convinced of that, to be honest.

          When you have things like 41+ accounts = A, that is questionable. I have not seen anywhere suggesting anyone have that many open lines of credit to boost their credit rating.

          CK’s membership shows those who have 41+ accounts of credit might have a good credit score… but the way its presenting it’s data is suggesting to their membership that they need to open up that many lines to have it effect their account positively. Which is simply not true.

          I enjoy CK’s services, but this credit report card is misleading at best. Calling it a comparative credit reading or something would be much more accurate, along with removing the silly grading system.

          • MostlyHarmless says:

            @Jason Asylum: Yeah, the 41+ thing left me scratching my head. I think that might be a bug somewhere.

            Other than that though, I think it is a good service. Atleast better than shooting in the dark. Here at least you can compare it to other people and see where you stand. And their data size is hundreds of thousands. Thats a big enough sample size.

  19. PinkBox says:

    Pft… Credit Karma says I have a grade F for Percent of on time payments. Considering I haven’t made a single late payment for well over nine years, I’d love to see how they came to that conclusion.

    • Jason Asylum says:

      @PinkBox: More important is.. what is the percentage? And what is your credit score? (Don’t actually answer those questions here.) The grades, again, are comparative to other members of CK. You may have 96% because you missed a payment you don’t remember, and don’t many credit accounts, so its easy for your number to look smaller than it actually is.

      Consumerist should put a nice warning in their article that the report card is simply comparative to other CK members. It’s awfully misleading.

  20. Jason McKay says:

    Pretty cool site! Showed me what it’ll take to get the credit score from fair to rockin.

  21. DeltaTee says:

    Would be good (if it worked). Unfortunately, it just drops me into an infintite loop of telling me to fill out a form and letting I’ve already filled out that form. This site may be a scam.

  22. CK_Founder says:

    For those wondering about “compared to other members”, our sample size is in the hundreds of thousands. Our data shows that our users are representative of the US since our sample is sufficiently large.

    I won’t go into a statistic rant :)

    • labeled says:

      @CK_Founder: While you’re hear, I just want to say thank you – I’ve used CK for about a year, maybe more, and love it.

      • CK_Founder says:

        @labeled:

        Well thank you. It’s always nice to hear from customers who value our service.

        • Jason Asylum says:

          @CK_Founder:

          FWIW, I do enjoy your services. And I think this can be useful, but I also think it’s misleading in its current form.

          It shows what your membership has related to their credit scores, true. But what your membership has and what equals a high credit score aren’t exactly one and the same.

          Relatively very few people should have 41+ lines of credit. You’d need to have an extremely large stream of income for that to not effect your credit in a negative way, no? If I make $50k, and open up 40 lines of credit, my score would plummet. But your report card suggest thats what I should do to get an “A”. Having an “A” in this instance would not equal me gaining a better credit score.

          • Michael Belisle says:

            @Jason Asylum: Why is it misleading? It pretty clearly says “distributions from the Credit Karma community.” I think it’s always been pretty clear that Credit Karma is not proffering a FICO¬Æ score. What you think is “healthy” for credit may not be what FICO and other scorers think is healthy.

          • CK_Founder says:

            @Jason Asylum: Let me reinterpret the number of accounts and credit score correlation. Generally speaking, people who have more credit account history (i.e. more accounts) will have better credit scores. It is a matter of experience. If you are creditworthy enough to have 40+ lenders approve you for credit, you should have a high credit score.

            The Credit Report Card is correlative not causative. Credit score are simply too complicated to only show the causative relationship. You shouldn’t open 40 accounts but you should know people with more credit experience have higher credit scores. With that said, I understand your point. We will put a larger interpretation of this thread on our site. You can tell everyone that it was your doing :)

    • Jason Asylum says:

      @CK_Founder: It’s still misleading, no offense.

      The way you present your scores, compared to your data.

      One would believe they need to have 41+ credit lines to have a decent credit score, when that is simply not true.

      And that’s just one example.

  23. David M Pondelick says:

    Just a heads up: if you have a fraud alert on your credit report they will refuse to pull your credit report. There doesn’t seem to be any way to provide authorization to pull the report.

  24. Fist-oô says:

    I am debt free and have no credit cards, nor will I get one. My wife has one CC that she has rarely used recently.

    We manage to keep a significant portion of our income as discretionary, which is socked away for a future house down-payment.

    If it’s difficult for us to get a reasonable rate for a mortgage strictly because we don’t use credit cards, I will be very peeved.

    • frank64 says:

      @Fist-o‚Ñ¢:
      Prepare to get very peeved.

      You should get some credit cards and maybe a few store cards right away. I realize where you are coming from and a down payment will help, but the banks are so score focused, even at the expense of common sense.

    • chrisexv6 says:

      @Fist-o‚Ñ¢:

      Yeah, enable “peeve acceptance”

      It became clear to me very early on when my (then) girlfriend was turned down for a cell phone because she was a credit ghost. No cards, no bills in her name (except car insurance which she paid once/yr in cash).

      Her sister was in the same boat, except I added the gf as a line on my cell plan. Since then she has listened to me about credit advice. HAVE it, but dont OVERUSE it. We have a few cards we use the most, but we always pay the bills off every month (i.e. deadbeats to the card companies)

      My advice is to open a card and start putting your normal bills on it. That will build some credit while paying off things you need to pay off anyway. I enjoy putting groceries on my credit card because I get a %-age back, its something I *really* have to have every week, and its more than a small amount on my credit card (~100.00/week)

  25. frank64 says:

    Says I earned an F on accounts because I have ONLY 9 open accounts. FICO loves open accounts but for me I would think it is more responsible to not have a few. I only use two.

    Even with the F the score is 774. It gives me a B on utilization which it computes at 35%, so I don’t get penalized for it. However, my CL is 125% of my annual income, meaning I owe just under 50% of my annual income in credit cards. I should get a lower score for this, but I don’t. I am much more at risk than they know.

    Fico doesn’t know my income, so it doesn’t know my debt to income. Good thing for me.

  26. sam1am says:

    I signed up – it asked me to verify my identity by answering questions about what was on my credit report. I thought I was coming to you to find out what was on my credit report?

    Anyway, couldn’t get through.

    • CFinWV says:

      @sam1am: No, they’re pulling the data off your credit report and breaking it down into grades and ranking them so if you are trying to improve your score you can use that as a guide. You’ll need to go pull a copy so they know what you have going on.

      • sam1am says:

        @CFinWV: I’m pretty sure that is not true. They pull your credit info and then ask you to verify info off of it before showing it to you. It’s a security thing, it’s just not very good because they ask you to provide information that you probably don’t have or you wouldn’t be there.

        For example, mine asked me to verify who my two car loans were through. Unfortunately I only have one car loan.

  27. PlasmaMachine says:

    Sounds good, but it couldn’t verify my information and the address & SS# page.. Same info it’s been for decades, oh well..

  28. labeled says:

    ^here. Sorry, guess I got all silly & fangirl on you.

  29. bluewyvern says:

    Well, I failed the security check since I don’t remember what my monthly payments for my student loans are (and it’s not even applicable in one case, where I pay quarterly). No report card for me.

  30. Crabby Cakes says:

    I am totally up a creek with this. 41+ accounts is an A? I have 4. When I paid off my car, my FICO crashed. No one will give me credit because I have too few accounts and my credit history isn’t that long. I don’t know how I can improve my score without getting more credit cards, (that I don’t need,) but no one will give me credit! It’s such a catch22. It’s especially ridiculous since now that I paid my car off, I have MORE money to spend every month! I really don’t know where to go from here.

  31. andres783 says:

    Does Credit Karma pull a hard inquiry on all reports, or how do they get the credit information?

  32. NotYou007 says:

    I was able to get a free credit score and that was kick ass. I’ve been wondering what it was since I’ve been slowly rebuilding my credit after having to file for bankruptcy just over 10 years ago and I was happy to see I had a 703 and I’ve very happy with that.

    I have no plans to open any new accounts anytime soon and just use the 3 credit cards I have and pay my auto loan. I learned my lesson the hardway over 10 years ago and I’m not making that mistake again.

    703 made me smile :-)

  33. elocanth says:

    Very interesting service… I really like the simplified layout and de-jargoned explanations. The only thing that’s odd is that it’s reporting more than double the amount of student debt that I actually have.

    I’m not certain if that’s a Transunion issue or a Credit Karma issue, and I can’t find a link to any site forums (that link should be front and center, guys). Good site, otherwise.