Credit Karma scores can be much different. Find out why!

Hey how you doing I’m Emmett Dempsey again with Geneva Financial and this video is about Credit Karma okay so I know uh
when I talked to borrowers an awful lot I hear this question..Well why is my
Credit Karma score so much different than what you pulled
quite simply Credit Karma uses a completely different model. Now I know
that the three credit bureaus Experian Equifax TransUnion is who we all know
but basically they’re all repositories of information on your credit history
your payment history what trade lines you have open etc how we actually look
at that information can differ Credit Karma uses what’s called the Vantage
scoring model and it’s relatively new it’s not readily accepted in the finance
industry we still use the FICO model so the Fair Isaac or FICO you’ve
probably heard that term before so quite simply two very different models two
very different ways of where we look at your credit history so which is why
Credit Karma can be so far off than what I pull when you come talk
to me or come see me but you know be careful that I recommend clients go to when they’re they’re ready to get pre-approved or do you give me a
call so just so you have to keep in mind you know credit Karma’s free you didn’t
kind of give you a general idea of what your score range should be but just keep
in mind when you talk to me it could be lower but uh you know thanks for
watching you know go ahead and like and subscribe to my channel and share this
video with your friends

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