Credit Karma Is Not Enough

Credit Karma is not nearly enough, it is extremely limited to assist anyone that does not have Good to Great credit.  Now if you are only looking to see what your credit score is Credit Karma is where you want to go.  Now I mention credit score, the term credit score  also goes by another name or should I say an acronym FICO score. I have always wondered what FICO stands for. It stands for the Fair Isaacs Corporation, who is this Credit #1you may be thinking; they are the creator of the software used to calculate credit scores.  GO HERE TO LEARN MORE ABOUT TAKING CONTROL OF YOUR CREDIT!

The scoring system for your credit is conduct by three main major credit bureaus here in the United States; Equifax, TransUnion, and Experian.  Even through the scores are based on the same credit report information, because each company base their score on different criteria which is weighed differently you will receive three different scores. Now that makes perfect sense to me. (I am being sarcastic )  It does not make any sense to me; it is just another way to keep us as consumers confused and at the mercy of the big companies, to make as much money off us as possible.   TAPE HERE TO FIGHT BACK!

Here’s how The New York Times explains it:

So there are three versions of the basic score [at Equifax, Experian, and TransUnion], just for starters. But FICO also has several other versions, customized for the specific type of loan in question — say, an automobile loan, a mortgage or a credit card. Each is also offered by the credit bureaus, under their own brands. And each version may have multiple releases, as FICO’s formula for crunching the data is updated. So you can see how the versions pretty quickly add up to nearly fifty.FICO LOGO

This totally unfair that we have to pay for something that does not provide a categorical conclusion.  The Consumer Financial Protection Bureau  that is practice is extremely unfair to the consumer. Who and what is the CFPB?

Established by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, CFPB is charged with overseeing the Federal financial laws that specifically protect consumers—people who keep their money in banks and credit unions, pay for goods and services with their credit cards, and rely on loans to buy homes …

The CFRB released a report about the issue last summer, saying, “It is likely that theCredit #3 credit score that the consumer receives will not be the same score as that purchased and used by a lender to whom the consumer applies for a loan.”

The CFPB report raises other issues stemming from having dozens of score variations: What if a lender uses a different (non-FICO) scoring model than the one you paid for? What if the lender gets your score from a different credit bureau than you do?

“It is also possible that a consumer and a lender could access different reports from the [same credit reporting agency],” the CFPB says, “if they were to use different identifying information about the consumer. Click HERE to Increase Your FICO!

All this means nothing going to change, things are going to continue to be confusing and it is not in the interest of the banks, credit card, finance companies and credit bureaus to make the process easy  and understandable. You may be thinking why not, it is all about the money. The more we do not know (The Consumer) what the HELL is going on, the more these companies can charges us. You know that old saying

Bad Credit #1

knowledge is power, it Is very true.  This situation between us and the credit bureaus is like WAR, we as consumer must know rules of engagement. You and I know that if they, I am speaking of the credit bureaus wanted to make this process of us understanding our credit report and have unilateral score system  that was simple and easy, they would do just that. When you get through all the excuses why it is not that way, what is left, which is always the case to almost everything in life the MONEY!   

I was in that situation, of not knowing how to engage the enemy,( the credit bureaus), until I invested in a program that placed me in the know.  I mean, I learned about the  laws, the how and when something had be done and learned the verbiage of the credit Credit #2bureau that forced them to follow through when it came to me raising my credit score (FICO). Remember these credit bureaus feed off of our ignorance of the law, when you know the law, they are forced to comply.  When I look and think about us the consumer and the credit bureau companies, all that goes through my mind is the book “The Art of War” , you must know your enemy. I knew if I was equipped with the correct tools, knowledge to take on the credit bureaus, (my enemy) and knew the rules of the confrontation, I would become the victor, my credit score went up from 532 to 718 in a short period of time. Do not fool yourself this is about us (consumers) against them (the credit bureaus). If you do not believe so; screw up your credit and  see how much say you have. Like I said Credit Karma is a restricted  tool that can only assist you once the WAR is over.  START HERE to take back control of your CREDIT!