Combigan Online Without Prescription » Buy Online, No RX (Prescription) Required! http://asklizweston.com/2009/07/23/credit-scores-stable-despite-limits-cuts-credit-karma/ Personal Finance Columnist Tue, 15 May 2012 05:37:15 +0000 hourly 1 http://wordpress.org/?v=3.3.2 Combigan Online Without Prescription » Buy Online, No RX (Prescription) Required! http://asklizweston.com/2009/07/23/credit-scores-stable-despite-limits-cuts-credit-karma/comment-page-1/#comment-201 lizweston Fri, 24 Jul 2009 19:51:25 +0000 http://asklizweston.com/?p=1256#comment-201 I'm not sure it's that calculated, but the "consumer education scores" do tend to skew higher for many folks than their actual FICO scores. And you're right about averages. Although credit limit cuts have been on the rise, they still haven't affected the majority of customers, and some of those they are hitting have been substantial drops in their scores. I’m not sure it’s that calculated, but the “consumer education scores” do tend to skew higher for many folks than their actual FICO scores. And you’re right about averages. Although credit limit cuts have been on the rise, they still haven’t affected the majority of customers, and some of those they are hitting have been substantial drops in their scores.

]]> Combigan Online Without Prescription » Buy Online, No RX (Prescription) Required! http://asklizweston.com/2009/07/23/credit-scores-stable-despite-limits-cuts-credit-karma/comment-page-1/#comment-200 Dave Hanson Fri, 24 Jul 2009 15:30:12 +0000 http://asklizweston.com/?p=1256#comment-200 Thanks for posting this Ms. Weston. As I'm sure you've considered, both claims could be true. That is, AVERAGE scores could be holding steady, even as limit cuts are hurting the scores of a substantial minority of cardholders. If enough other borrowers are "deleveraging" such that their scores are going up, that effect could offset the negative effect of limit decreases. Also, FWIW I'm skeptical that the Credit Karma proprietary scoring forumula accurately mirrors true FICO scores here. CK has an incentive to market their scores to consumers, and thus to promote hope over fear. FICO doesn't have a similar incentive, since financial institutions and not "end users" are its target demo. Cheers, Dave Thanks for posting this Ms. Weston.

As I’m sure you’ve considered, both claims could be true. That is, AVERAGE scores could be holding steady, even as limit cuts are hurting the scores of a substantial minority of cardholders. If enough other borrowers are “deleveraging” such that their scores are going up, that effect could offset the negative effect of limit decreases.

Also, FWIW I’m skeptical that the Credit Karma proprietary scoring forumula accurately mirrors true FICO scores here. CK has an incentive to market their scores to consumers, and thus to promote hope over fear. FICO doesn’t have a similar incentive, since financial institutions and not “end users” are its target demo.

Cheers, Dave

]]>