The credit scores and credit reports you see on Credit Karma come directly from TransUnion and Equifax, two of the three major consumer credit bureaus. They should accurately reflect your credit information as reported by those bureaus — but they may not match other reports and scores out there.
On Credit Karma, you'll see credit scores and reports from Equifax and TransUnion, both using the VantageScore 3.0 scoring model.
The scores and credit report information on Credit Karma come from TransUnion and Equifax, two of the three major credit bureaus. Credit Karma compiles its own VantageScore based on that information.
Credit Karma isn't a credit bureau, which means we don't determine your credit scores. Instead, we work with Equifax and TransUnion to provide you with your free credit reports and free credit scores, which are based on the VantageScore 3.0 credit score model.
Why your Credit Karma credit score differs
Your score can then differ based on what bureau your credit report is pulled from since they don't all receive the same information about your credit accounts. Secondly, different credit score models (and versions) exist across the board.
There are two main reasons why credit scores for the same consumer can vary by more than a few points: Differences in the information on file at the three major credit bureaus – Equifax, Experian and TransUnion. Differences in credit scoring formulas.
Is TransUnion more important than Equifax? The short answer is no. Both TransUnion and Equifax are reliable credit reporting agencies that compile reports and calculate your credit scores using different scoring models.
Understanding credit score ranges
A good score with TransUnion and VantageScore® 3.0 is between 720 and 780. As your score climbs through and above this range, you can benefit from the increased freedom and flexibility healthy credit brings. Some people want to achieve a score of 850, the highest credit score possible.
But how accurate is Credit Karma? In some cases, as seen in an example below, Credit Karma may be off by 20 to 25 points.
The biggest difference between TransUnion and Equifax is that TransUnion reports your employment history and personal information. The other two credit reporting agencies report only the name of your employer.
A: Credit Karma is a legitimate company; however, for a variety of reasons, its scores may vary greatly from the number your lender will share with you when it checks your credit. We have answers to all your questions about Credit Karma.
A 750 credit score is Very Good, but it can be even better. If you can elevate your score into the Exceptional range (800-850), you could become eligible for the very best lending terms, including the lowest interest rates and fees, and the most enticing credit-card rewards programs.
70% of U.S. consumers' FICO® Scores are higher than 650. What's more, your score of 650 is very close to the Good credit score range of 670-739. With some work, you may be able to reach (and even exceed) that score range, which could mean access to a greater range of credit and loans, at better interest rates.
Many consumers are more familiar with FICO scores, as VantageScore is a more recent development, so you may be wondering if a TransUnion credit score is accurate. TransUnion VantageScore is, in fact, accurate — based on that credit score model.
A 728 FICO® Score is Good, but by raising your score into the Very Good range, you could qualify for lower interest rates and better borrowing terms. A great way to get started is to get your free credit report from Experian and check your credit score to find out the specific factors that impact your score the most.
Equifax scores range from 0-700. 380-419 is considered a fair score. A score of 420-465 is considered good. A score of 466-700 is considered excellent (reference: https://www.finder.com/uk/equifax).
Your 809 FICO® Score falls in the range of scores, from 800 to 850, that is categorized as Exceptional. Your FICO® Score is well above the average credit score, and you are likely to receive easy approvals when applying for new credit.
Equifax offers numerical credit scores that range from 280 to 850. 8 The bureau uses similar criteria as FICO to calculate these scores, but as with Experian, the exact formula is not the same. However, a high Equifax credit score typically indicates a high FICO score.
Credit scores range from 300 up to 850, which is considered perfect credit.
For a score with a range between 300 and 850, a credit score of 700 or above is generally considered good. A score of 800 or above on the same range is considered to be excellent. Most consumers have credit scores that fall between 600 and 750.
While the FICO® 8 model is the most widely used scoring model for general lending decisions, banks use the following FICO scores when you apply for a mortgage: FICO® Score 2 (Experian) FICO® Score 5 (Equifax) FICO® Score 4 (TransUnion)
Though Credit Karma does not currently offer FICO® scores, the scores you see on Credit Karma (VantageScore 3.0 credit scores from TransUnion and Equifax) provide valuable insight into your financial health. It's important to keep in mind that no one credit score is the end-all, be-all.